Chiefs and IT heads of all public sector banks in the country met here today and chalked out a roadmap for greater levels of technology implementation in public sector banks.
Hosted by the Institute for Development and Research in Banking Technology (IDRBT), an institute set up by the Reserve Bank of India (RBI) in 1996, the conference witnessed the presentation of banking technology awards to Punjab National Bank, Canara Bank, Corporation Bank and Andhra Bank.
The awards were presented by Bimal Jalan, RBI governor, to the chiefs of the respective banks. The bankers and IT heads felt that there was a need to build a framework for security policy and to implement business-strategy-driven IT initiatives, such as business intelligence and data warehousing.
They decided to build IT-savvy culture in public sector banks with initiatives beginning from top management.
The conference resolved to pave the way for truly integrated e-commerce solutions by implementing electronic payment systems in synchrony with RBI and IDRBT initiatives.
On the progress of computerization, the bankers found that all the public sector banks had already achieved the targets laid down by the Central Vigilance Commission, while five banks had covered more than 85 per cent of their business.
Addressing the conference after presenting the banking technology awards, Jalan said technology implementation was no more a choice, as business success was being determined by IT.
