Hi-Tech Banking in India : Problems and Prospects

Contents: Preface. Foreword. I. Technology for Banks in India: 1. Transformation in banks through information technology-challenges and potentials. 2. Problems faced by E-delivery channel-users-of banks-An empirical study in e-age. 3. Problems and prospects of E-age banks in India. 4. Customer service in Banks: mapping excellence in emerging new competitive era. 5. E-banking: problems and prospects-an empirical study in Punjab. 6. Strategies to mitigate risk in Internet banking. 7. Information technology-emerging challenges and new potentials for banks. 8. Mobile banking and new Gen: an Indian experience. 9. Future outlook of ATMs in India-emerging issues and possible solutions. 10. Empowering Indian Banking through information technology-emerging issues and challenges. II. Banking sector reforms and contemporary issues: 11. Banking sector reforms: an Indian experience. 12. Banking sector reforms: rationale, efficacy and necessity of third reforms. 13. Banking sector reforms and efficiency of Banks in India. 14. Indian banking vision 2030. 15. Comparative study of performance of Indian commercial banks in the era of global melt down. 16. Liberalization and stability of interest income in banks through fee based activities. 17. Micro finance through self help groups: an excellence road map for banks. 18. Indian banking: a paradigm shift in the performance. 19. Survival of public sector banks in the pot liberalized and globalized era emerging new issues and potential strategies. 20. Global crisis-problems and prospects for Indian banking Industry.

India’s banking sector has made rapid strides in reforming and aligning itself to the new competitive business environment. Indian banking industry is in the midst of an IT revolution. Technological infrastructure has become an indispensable part of the reforms process in the banking system, with the gradual development of sophisticated instruments and innovations in market practices. In India, the Reserve Bank of India (RBI) has taken active interest in developing appropriate technological infrastructure to facilitate market development in areas such as payment and settlement systems, Delivery versus Payment (DvP and Electronic Funds Transfer (EFT).

For modernizing the payment and settlement systems in India, a three pronged approach has been adopted with due emphasis on consolidation, development and integration. The consolidation of the existing payment systems involves strengthening of computerized cheque clearing and expanding the reach of Electronic Clearing Services (ECS) and electronic Funds Transfer (EFT).  The retail payment system was given an impetus with the introduction of a new facility, viz. Special Electronic Funds Transfer (SEFT) system. The critical elements of the development strategy involve opening of new clearinghouses, interconnection of clearinghouses through the Indian Financial Network (INFINET), development of real Time Gross Settlement (RTGS) system, Centralized Funds Management System (CFMS), Negotiated Dealing System (NDS) and the Structured Financial Messaging System. (SFMS).

This book contains 20 articles presented in national and International Conferences. It provides at insight into the current development and future of technology up gradation in the Indian banking industry. The book it is hoped, would provide useful information and inputs to all those interested in updating themselves with latest developments in modern banking practices.