The document discusses how information technology has been applied in finance and banking in India. It describes the Indian Financial Net (INFINET) wide area network established by the Reserve Bank of India and the Institute for Development and Research in Banking Technology to connect banks digitally. It also lists some key IT applications used in banking like centralized funds management, funds transfer, electronic funds transfer using debit/credit cards and net banking, MICR cheque processing, and 24/7 customer service facilities.

1. IT – Applications (4)
IT in Finance & Banking …
Business Process Reengineering, communication
& connectivity
 Sophisticated product development
 Better market infrastructure
 Reliable techniques to control risks
 Reach distance geographically and diversified
markets

2. Banks and other financial institutes in India entered
the digital world with Indian Financial Net
(INFINET), WAN (satellite based network using
VSAT (Very Small Aperture Terminal) technology,
setup by RBI & IDRBT (Institute for Development
and Research in Banking Technology).
 CFMS (Centralized Funds Management Systems)
 CFES (Centralized Funds Enquiry Systems)
 CFTS (Centralized Funds Transfer Systems)
Security
IT in Finance & Banking …
IT – Applications (5)

3. EFT (Electronic Fund Transfer)
 Debit Cards & Credit Cards
 Net Transfer
 POS (Point-Of-Sale) Terminal
 MICR cheques (improves processing of cheques)
 Request for cheque books
 E-cheques
 Stock Exchange
 24 x 7 customer service
IT in Finance & Banking …Facilities
IT – Applications (6)

4. IT – Applications (7)
IT in Education (E-Learning) …
Electronic learning
 Computer Aided Learning
 Computer based training
 Web based training
 On – line examinations
Virtual classrooms julianhopkins.net

5. IT – Applications (8)
IT in Education (E-Learning) …
E-books
 Electronic versions of books
 Vast variety of texts become easily available to
readers
Reader software
 Microsoft Reader
 Adobe E-book Reader

6. IT – Applications (8)
IT in Education (E-Learning) …
E-books
 Electronic versions of books
 Vast variety of texts become easily available to
readers
Reader software
 Microsoft Reader
 Adobe E-book Reader