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    Recent Development in The Banking Sector: Presented by Shilpa Mishra Bba 5 Semester

    Uploaded by

    Dipak K. Sah
    The document discusses recent developments in the Indian banking sector, focusing on increased use of information technology (IT). It describes how IT is being used in two main ways: for communication/connectivity and for business process reengineering. Various IT-enabled banking services are also summarized, including core banking solutions, customer relationship management, electronic payment services like e-cheques, real-time gross settlement systems, electronic fund transfers, electronic clearing services, ATMs, telephone banking, point of sale terminals, electronic data interchange, and the impacts of foreign direct investment.

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    Recent Development in The Banking Sector: Presented by Shilpa Mishra Bba 5 Semester

    Uploaded by

    Dipak K. Sah
    83 views15 pages
    The document discusses recent developments in the Indian banking sector, focusing on increased use of information technology (IT). It describes how IT is being used in two main ways: for communication/connectivity and for business process reengineering. Various IT-enabled banking services are also summarized, including core banking solutions, customer relationship management, electronic payment services like e-cheques, real-time gross settlement systems, electronic fund transfers, electronic clearing services, ATMs, telephone banking, point of sale terminals, electronic data interchange, and the impacts of foreign direct investment.

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    The document discusses recent developments in the Indian banking sector, focusing on increased use of information technology (IT). It describes how IT is being used in two main ways: for communication/connectivity and for business process reengineering. Various IT-enabled banking services are also summarized, including core banking solutions, customer relationship management, electronic payment services like e-cheques, real-time gross settlement systems, electronic fund transfers, electronic clearing services, ATMs, telephone banking, point of sale terminals, electronic data interchange, and the impacts of foreign direct investment.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    83 views15 pages

    Recent Development in The Banking Sector: Presented by Shilpa Mishra Bba 5 Semester

    Uploaded by

    Dipak K. Sah
    The document discusses recent developments in the Indian banking sector, focusing on increased use of information technology (IT). It describes how IT is being used in two main ways: for communication/connectivity and for business process reengineering. Various IT-enabled banking services are also summarized, including core banking solutions, customer relationship management, electronic payment services like e-cheques, real-time gross settlement systems, electronic fund transfers, electronic clearing services, ATMs, telephone banking, point of sale terminals, electronic data interchange, and the impacts of foreign direct investment.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 15

    Recent Development In the

    Banking sector

    Presented by
    Shilpa Mishra
    BBA 5th semester

    Introduction

    Today, we are having a fairly well developed banking system with different classes of
    banks.

    Some of them have engaged in the areas of consumer credit, credit cards, merchant
    banking, internet and phone banking, leasing, mutual funds etc.

    IT in Banking

    Increasing importance of total banking automation in the Indian


    Banking Industry

    Used under two different avenues in Banking

    Communication and Connectivity

    Business Process Reengineering

    Technology In Banks

    To Transform Financial Services Industry In The Net-worked World

    Increased Operation Efficiency, profitability & Productivity

    Superior Customer Service

    Provide Services / Products Across A Range Of Channels

    To Be Futuristic And Have Time Value In All Its Dealings With Customers

    Improved Management/Accountability

    Minimal Transaction Cost

    Improved Financial Analysis Capabilities.

    IT Enables

    Sophisticated Product Development

    Better Market Infrastructure

    Implementation Of Reliable Techniques For Control Of Risks

    Helps To Reach Geographically Distant Area

    Focus aspects of New Banking Systems

    CORE BANKING SOLUTIONS(CBS)

    CUSTOMER RELATIONSHIP MANAGEMENT(CRM)

    ELECTRONIC PAYMENT SERVICES (E - CHEQUES )


    India, as harbinger to the introduction of e-cheque, the Negotiable Instruments
    Act has already been amended to include; Truncated cheque and E-cheque
    instruments

    REAL TIME GROSS SETTLEMENT (RTGS)

    Introduced in India since March 2004

    Is a system through which electronics instructions can be given by banks


    to transfer funds from their account to the account of another bank.

    The RTGS system is maintained and operated by the RBI and provides a
    means of efficient and faster funds transfer among banks facilitating
    their financial operations

    Runs on Real Time basis

    ELECTRONIC FUND TRANSFER(EFT)

    Is a system whereby anyone who wants to make payment to another


    person/company etc. can approach his bank and make cash payment or
    give instructions/authorization to transfer funds directly from his own
    account to the bank account of the receiver/beneficiary.

    RBI is the service provider of EFT.

    ELECTRONIC CLEARING Services(ECS)

    Is a retail payment system that can be used to make bulk payments/receipts


    of a similar nature especially where each individual payment is of a
    repetitive nature and of relatively smaller amount.

    facility is meant for companies and government departments to


    make/receive large volumes of payments rather than for funds transfers by
    individuals

    ATMS
    Most

    popular devise in India,

    enables

    the customers to withdraw their money 24 hours a day


    7 days a week.

    ATMs

    can be used for payment of utility bills, funds transfer


    between accounts, deposit of cheques and cash into accounts,
    balance enquiry etc.

    Tele Banking/Mobile Banking

    Do

    entire non-cash related banking on telephone. Under this


    devise Automatic Voice Recorder is used for simpler queries
    and transactions.

    For

    complicated queries and transactions, manned phone


    terminals are used.

    POINT OF SALE TERMINAL

    Computer terminal that is linked online to the computerized


    customer information files in a bank and magnetically encoded
    plastic transaction card that identifies the customer to the
    computer

    Electronic Data Interchange (EDI)


    Electronic

    exchange of business documents like purchase


    order, invoices, shipping notices, receiving advices etc. in a
    standard, computer processed, universally accepted format
    between trading partners.

    EDI can also be used to transmit financial information and


    payments in electronic form.

    Foreign Direct Investment (FDI)

    Transfer of technology from overseas countries to the domestic market

    Ensure better and improved risk management in the banking sector

    Assures better capitalization

    Offers financial stability in the banking sector in India.

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