Information Technology (IT) Empowerment of Indian Banks

S.K. Majumdar
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S.K. Majumdar: Professor (Information Technology), Management Development Institute, Gurgaon.

Vision, 1998, vol. 2, issue 2, 39-43

Abstract: Effective Information Support (IS) is very important for any bank. Nationalised banks have failed to automate their banking operations and are thus unable to support the banking needs of a new generation of customers, who want prompt and efficient service. Realising the need for IT empowerment, the Reserve Bank of India (RBI) has issued several directives (3, 4, 5 and 7) to use Information Technology for improving house keeping, customer services, control over branches’ operations and timely generation of policy oriented information for the decision makers at various levels of banking. Attempts were made to introduce distributed data processing and decision aiding approach, data management information systems, use of PC technology, modular aproach for designing the system, parallel flow of information and real time processing concept. Why has it taken so long for the IT empowerment of Indian banks?

Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:sae:vision:v:2:y:1998:i:2:p:39-43

DOI: 10.1177/09722629X98002002008

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