Banking with Technology

Contents: Editor\'s note on the book. 1. E-Banking: issues, challenges and sustainability/Preeti Mishra. 2. Technology solutions for bank management/Deepak Tandon and Neelam Tandon. 3. Indian banks: transformation through E-Delivery Channels/R.K. Uppal and Rimpi Kaur. 4. E-banking: issues, challenges and opportunities/Poonam Sharma. 5. Internet Banking in India/Nisha Gupta, Deepak Garg and Anita Rani. 6. Electronic banking: risk management issues/Rashi Sawhney. 7. Information technology and banking sector/Navdeep Kumar. 8. Performance of six sigma in banking and IT sector/M. Daniel Rajkumar and R. Ezhilarasan. 9. Challenges of the E-Banking Revolution/Meenakshi Sharma and Meenu Agrawal. 10. E-Banking, the ultimate destination/Mohd. Saleem. 11. Internet Banking: paramount role/Ritu Sehgal. 12. IT in Indian banking with special reference to State Bank of India/Vineeta Gupta and Manjeet Kaur. 13. Indian Banking Sector: transformation through information technology/Neeru Bajaj. 14. Optimisation of investment in information security/Sawtantar Singh, Pardeep Gupta and Omeshri Gaur. 15. Banking in new era of IT/Divya Budhia. 16. IT in Indian banking sector with special reference to ICICI Bank/Jyotsna Chauhan and Mukesh Kumar Sharma. 17. Cheque Truncation System in information era/Sapna Badhwar. 18. Banking sector in IT era/Renu Singh. 19. E-Banking: the task ahead/Reena Shukla. Index.

"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 modernising 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 computerised 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 clearing houses, interconnection of clearing houses through the Indian Financial Network (INFINET), development of Real Time Gross Settlement (RTGS) System, Centralised Funds Management System (CFMS), Negotiated Dealing System (NDS) and the Structured Financial Messaging System (SFMS).

This book contains 19 articles by scholars specialising in the area of banking technology. It provides an insight into the current developments and future of technology upgradation in the Indian banking industry. The book would provide useful information and inputs to all those interested in updating themselves with latest developments in modern banking practices." (jacket)