Recent Technological Developments In Indian Banking discusses the Reserve Bank of India's use of technology across its core functions and initiatives. Technology has impacted every aspect of central banking including supervision, currency management, and monetary policy. The RBI has harnessed technology through initiatives like INFINET, SFMS, real-time gross settlement, and the securities settlement system to modernize payment systems, improve supervision, and enable more efficient internal processes. Technology has also improved how the RBI provides services and disseminates information to customers.
Cheque Truncation System (CTS)
Cheque Truncation System: Cheque Truncation System (CTS), in India, is a project of the Reserve Bank of India (RBI), commenced in 2010, for faster clearing of cheques.
Infrastructure Required- Point of Truncation:
Image
Cheque scanner
Hardware
Software
Network
WORKING OF CTS:In the earlier system, customer presented the cheque to the bank which sent the cheque to the clearing house, after which money would be credited to your account.
It usually takes 3-4 days for the physical transfer of cheques and amount to transfer.
CTS clears cheques electronically.
Physical transfer of cheques between banks has ended.
• Now it on average takes 1 day to clear and transfer the amount.
Process of CTS:The cheque is captured by the presenting bank (collecting bank) through a ‘Capture System’
An encrypted format to the ‘Clearing House’, from where it will be sent to the paying bank
A clearing House Interface, which is sort of a gateway.
Presentation Clearing’, which involves the process of data reading.
The payment is processed
Benefits of CTS:Benefits to customer:
No fear of loss of cheque in transit
Faster credit of funds to customer’s account
More secure
Lesser chances of fraud
Multi-city cheques could be cleared on the same day
Benefits of CTS:Benefits to Banks:
Reduction in cost of transit and errors to manual work
Verification will also be faster
Shorter clearing cycle
Operational efficiency
Reduction risks involving paper sharing
Thank you
Technology and trends in banks
Benefits of technology in banking
Banking software products
Globalisation of banking
Satellite banking
Technological development
Phone banking
Online banking
RTGS
NEFT
Bancassurance
Core banking solutions
Prabhav Jain | Ulti kitab
Cheque Truncation System (CTS)
Cheque Truncation System: Cheque Truncation System (CTS), in India, is a project of the Reserve Bank of India (RBI), commenced in 2010, for faster clearing of cheques.
Infrastructure Required- Point of Truncation:
Image
Cheque scanner
Hardware
Software
Network
WORKING OF CTS:In the earlier system, customer presented the cheque to the bank which sent the cheque to the clearing house, after which money would be credited to your account.
It usually takes 3-4 days for the physical transfer of cheques and amount to transfer.
CTS clears cheques electronically.
Physical transfer of cheques between banks has ended.
• Now it on average takes 1 day to clear and transfer the amount.
Process of CTS:The cheque is captured by the presenting bank (collecting bank) through a ‘Capture System’
An encrypted format to the ‘Clearing House’, from where it will be sent to the paying bank
A clearing House Interface, which is sort of a gateway.
Presentation Clearing’, which involves the process of data reading.
The payment is processed
Benefits of CTS:Benefits to customer:
No fear of loss of cheque in transit
Faster credit of funds to customer’s account
More secure
Lesser chances of fraud
Multi-city cheques could be cleared on the same day
Benefits of CTS:Benefits to Banks:
Reduction in cost of transit and errors to manual work
Verification will also be faster
Shorter clearing cycle
Operational efficiency
Reduction risks involving paper sharing
Thank you
Technology and trends in banks
Benefits of technology in banking
Banking software products
Globalisation of banking
Satellite banking
Technological development
Phone banking
Online banking
RTGS
NEFT
Bancassurance
Core banking solutions
Prabhav Jain | Ulti kitab
Role and impact of Information Technology on Indian BanksDrAbhinavSharma1
ROLE AND IMPACT OF INFORMATION TECHNOLOGY ON INDIAN BANKS IN THE ERA OF REFORMS : A COMPARATIVE STUDY OF SBI AND ICICI BANK.
THESIS TO BE SUBMITTED BY DR. ABHINAV SHARMA, A FAMOUS MOTIVATIONAL SPEAKER AND INTERNATIONAL WRITER. HIS VARIOUS BOOKS PUBLISHED IN HINDI AS WELL AS ENGLISH LANGUAGE.
Summer internship report submitted to State Bank of India on the topic - “Yo...Deepanjan Das
A Summer internship report submitted to State Bank of India on the topic - “Youth and SBI - Connected or Disconnected”.
Research work done from May 15th 2013 to July 15th 2013.
60 days/ 2 months internship program.
A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. It is positioned to the left in an accounting entry. A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.
Competitive Research and Analysis of Kotak Mahindra BankSumeet Nabajja
Visit my first group project. The project is about competitive research and analysis of Kotak Mahindra Bank along with it’s two major competitors HDFC Bank and Axis Bank.
The presentation speaks about:-
Background of each brand
SEO analysis
SEM analysis
Social Media Presence
Content publishing
Observation & Suggestions
CTS stands for "Cheque Truncation System". It is a cheque clearing system undertaken by the Reserve Bank of India (RBI) for faster clearing of cheques.
Research on Use of Mobile Phone : A Comparative Study between Male and Female...Ahasan Uddin Bhuiyan
The study aims at exploring the gender differences in mobile phone usage by the
male and female students who are studying at the University of Dhaka. Additionally, the study determined personal and family factors related to the mobile phone use and, the relationship between problem mobile phone use and
psychological health of the students. The random-convenience sampling basis was employed to identify the students (N=120) who completed a self-administered questionnaire. There have significant difference in usage pattern between male and female students. Female students mostly cell phone for voice calls, text messaging and listening FM radio while male use more for entertainment and social networking purpose. Male students maintain close tie with family living in distance (villages or towns far away from Dhaka) while female prefers using mobile to make personal relation steady (with friends and lover). Female students view it as a security tool and male students view as a medium to express fashion and style. Female prefers talking more at night and male at day. Majority of female students talks more than 3 hours a day but majority of male students prefers talk less than an hour a day. Male students find spending more time on mobile phone have vulnerability to psychological disturbances. Females are not aware of it. There is a need to further uncover underlying factors that influence student’s mobile phone behavior.
.
Role and impact of Information Technology on Indian BanksDrAbhinavSharma1
ROLE AND IMPACT OF INFORMATION TECHNOLOGY ON INDIAN BANKS IN THE ERA OF REFORMS : A COMPARATIVE STUDY OF SBI AND ICICI BANK.
THESIS TO BE SUBMITTED BY DR. ABHINAV SHARMA, A FAMOUS MOTIVATIONAL SPEAKER AND INTERNATIONAL WRITER. HIS VARIOUS BOOKS PUBLISHED IN HINDI AS WELL AS ENGLISH LANGUAGE.
Summer internship report submitted to State Bank of India on the topic - “Yo...Deepanjan Das
A Summer internship report submitted to State Bank of India on the topic - “Youth and SBI - Connected or Disconnected”.
Research work done from May 15th 2013 to July 15th 2013.
60 days/ 2 months internship program.
A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. It is positioned to the left in an accounting entry. A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.
Competitive Research and Analysis of Kotak Mahindra BankSumeet Nabajja
Visit my first group project. The project is about competitive research and analysis of Kotak Mahindra Bank along with it’s two major competitors HDFC Bank and Axis Bank.
The presentation speaks about:-
Background of each brand
SEO analysis
SEM analysis
Social Media Presence
Content publishing
Observation & Suggestions
CTS stands for "Cheque Truncation System". It is a cheque clearing system undertaken by the Reserve Bank of India (RBI) for faster clearing of cheques.
Research on Use of Mobile Phone : A Comparative Study between Male and Female...Ahasan Uddin Bhuiyan
The study aims at exploring the gender differences in mobile phone usage by the
male and female students who are studying at the University of Dhaka. Additionally, the study determined personal and family factors related to the mobile phone use and, the relationship between problem mobile phone use and
psychological health of the students. The random-convenience sampling basis was employed to identify the students (N=120) who completed a self-administered questionnaire. There have significant difference in usage pattern between male and female students. Female students mostly cell phone for voice calls, text messaging and listening FM radio while male use more for entertainment and social networking purpose. Male students maintain close tie with family living in distance (villages or towns far away from Dhaka) while female prefers using mobile to make personal relation steady (with friends and lover). Female students view it as a security tool and male students view as a medium to express fashion and style. Female prefers talking more at night and male at day. Majority of female students talks more than 3 hours a day but majority of male students prefers talk less than an hour a day. Male students find spending more time on mobile phone have vulnerability to psychological disturbances. Females are not aware of it. There is a need to further uncover underlying factors that influence student’s mobile phone behavior.
.
Today, the banking industry in our country is stronger and capable of withstanding the pressures of competition. It withstood Global Financial Crisis (2008). In the era of Globalization Banking Sector in India is rapidly changing since 1990s due to technological innovation, financial liberalization with entry of new private and foreign banks, and regulatory changes in the corporate sector. Indian banking industry is gradually moving towards adopting the best practices in accounting, internationally accepted prudential norms, with higher disclosures and transparency, corporate governance and risk management, interest rates have been deregulated, while the rigour of directed lending is being progressively reduced. In our country, currently we are having a fairly well developed banking system with different classes of banks – public sector banks, foreign banks, private sector banks – both old and new generation, regional rural banks and co-operative banks with the Reserve Bank of India as the leader of the system. In the banking field, there has been an unprecedented growth and diversification of banking industry and our banks are now utilizing the latest technologies like internet and mobile devices to carry out transactions and communicate with the masses.
The asquith group case study some statisticsasalarsson
21% of young people in Australia do not complete secondary school. (Deloitte Access Economics, 2012) In Victoria an estimated 10,000 school-age people disengage early from education every year.
Young people who do not finish school are far more likely to be unemployed into their 20s and beyond than their contemporaries.
In 2011, about 35 per cent of 20-24 year old Victorians whose highest level of school attainment was Year 11 or below were either unemployed or had withdrawn entirely from the workforce or study.
This is a class room presentation taught by Prof Chowdari Prasad to MBA (Banking) students on developments of Technology in Indian Banking. It was well received and needs to be updated. Any suggestions are welcome from bankers, students, researchers, etc.
Information and Communication Technology has altered the banking system all over the world. In India, the banking sector has been witnessing path breaking technological advancement. Paper transactions, like cheques and drafts are displaced by internet transfers through RTGS, clearing houses are replaced by MICR. Customers no more belong to a particular bank or branch. Thus impact that in the technological changes in banking sector is analyzed in this paper. This paper deals in the analysis of technological revolution in Indian banking sector.
Payment and settlement systems in india vision - 2019-21Mukul Kumar
This PPT is intended to give a brief overview of the vision document titled “Payment and settlement systems in India: Vision – 2019-2021” published by RBI.
In this ppt u will find information related to operation management in banking and its future scope and Role of Information Technology in Banking and also the Trends in technology in banking.
Case Study On The Growing Saga of E - Payment SystemVARUN KESAVAN
Every country has a financial system of its own that serves as backbone of its entire development. A financial system is a set of institutional arrangements through which financial surplus in the economy is mobilized from surplus units and transferred to deficit spenders. The financial system of any country consists of banking and non banking financial institutes, these institutes are providing various types of financial services to the customers. In the financial services, financial clearing and fund transfer service is most important service than other services. Payment systems improve financial intelligibility, stimulating business growth and consumption .The success of the banking system has depends upon the efficient and quality of clearing system of the industry. If we overlook the worldwide this system has changing drastically with technological advancements. Last few years evident that, Information and Communication Technology (ICT) have become a mean for improvement of financial system worldwide. In India, most of banks and financial institutions are offering ICT based financial products and services to improve their business efficiency and speed of services e.g. called e - banking, internet banking, electronic fund transfer, electronic clearing, mobile banking etc.
Digital Payments: Level the Playing Field to Leverage the PotentialCUTS International
The digital payments sector in India is facing tectonic shifts. Entities with divergent business models, subject to diverse regulations, are competing for a pie in the market share.
This report takes a stock of the existing business models in the digital payments sectors and reviews the applicable regulatory framework to such business models.
The objective is to ascertain if level playing field exists for the market players in the sector to compete efficiently. The report takes a step further and analyses reasons for lack of level playing field in the sector, highlights adverse impacts of such situation on consumer welfare.
The report concludes with providing specific recommendations to level the playing field for leveraging the potential of digital payments in the sector.
How we will be paying in 2020 - SPA Technical Director, Lorenzo Gaston at EPC...Smart Payment Association
Retail Payments Vision 2015 – And SPA perspective
The retail payment ecosystem is changing. Over recent years we’ve seen the democratizing effect of technology create an ever-broader payments landscape.
Contactless, NFC payment, m-wallets, cross border and person-to-person transactions, and the emergence of virtual currencies are all contributing to growth.
It’s a market too that is being shaped by the demands of a new generation of retail customers: one in which simplicity, speed and convenience are king.
At the same time, we’ve seen the traditional banking and settlement value chain come under pressure from big brand entrants – from mobile operators, Google, Apple and others. These new entrants are changing the dynamics of the industry as new commercial partnerships and models develop to offer an ever-widening range of convenient payment options to consumers and businesses.
This rate of change raises some interesting questions: how to secure ‘card/person not present’ transactions; how to protect customer data; and how to guard against a new breed of cyber criminal looking to capitalize on vulnerabilities. Moreover, the appearance of non-traditional players - who may lack the structural understanding, or the technical or financial means to create a fully secure end-to-end environment – could pose serious challenges for banks, regulators, standards bodies and merchants alike.
So what will the future bring? While attempting predications in this heterogeneous retail payments landscape can be an uncertain and somewhat random exercise, the SPA considers the following “12 key trends to watch” to be significant in the coming years.
Similar to New tech changes in indian banking system (20)
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
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HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
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2. 2
The Technology Revolution
The impact of technology on the real &
financial world around the central banks
E-governance
Choice of Channels , Confidence and
Convenience to the end-user
Efficiency
Facilitating growth of products and services
4. 4
Technology and Central Banks
Why CentralWhy Central
Banks areBanks are
interested?interested?
Technology has
Affected every
Core
Central
Banking
Function
Technology has
Affected every
Core
Central
Banking
Function
The potential
Technology
offers
to improve
internal
processes
The potential
Technology
offers
to improve
internal
processes
6. 6
Technology and Central Banks
So why are central banks interested?
The widespread adoption of technology by
the banking industry
The impact of technology on every single
core central banking function
Supervision and Regulation
Currency Management
Monetary & Financial Stability
The potential technology offers to central
banks for rendering more effective its internal
processes and functions
7. 7
Technology and Banking
The Quintessence Nature of Banking harmonizes
closely with Technology -
Mass transaction & items processing
Pervasive branch network
Global Operations
Complex credit calculations
Innovative Risk Management
8. 8
Technology and Banking Supervision
THE RBI RESPONSE
Offsite Supervision & Monitoring
OSMOS
COSMOS (Non banking Financial Companies /
Development Financial Institutions)
UBD Soft
Credit Information Bureau (A joint venture between
Housing Development Finance Corporation Ltd.,
State Bank of India, Trans Union International Inc.
& Dun & Bradstreet Information Services India Pvt.
Ltd.
9. 9
Regulation and Supervision –
The Challenge
Technology has …
opened up new markets, products, services,
delivery channels
opened up a market for “risks” – derivatives
thrown up the challenge of financing tech
firms & IT innovation
…and not without implications for the
stability of banks and of the economy
10. 10
Regulation and Supervision –
The Response
Technology has also…
provided regulators with the wherewithal to
meet the challenge
been the cornerstone of all recent financial
sector reforms
enabled the emergence of non-intrusive,
focused supervision
…with a view to prevent frauds and
disturbances to financial stability
11. 11
Regulation and Supervision –
RBI Initiatives
Off Site Monitoring and Supervision
System
For commercial banks
For non banking financial institutions
For urban co-operative banks
The Credit Information Bureau
12. 12
Currency Management and
Technology – Opportunities Galore
Currency Management is a formidable task
in India given…
the geographical size of the country
the volume and value of notes and coins in
circulation
the marked preference for cash
currency handling practices
...but technology offers immense
opportunities to improve performance
13. 13
Currency Management –
RBI Initiatives
The Clean Note Policy (1999)
Establishment of 2 state of the art currency
presses
Technology driven anti counterfeit measures
48 fully automated Currency Verification and
Processing Systems
21 Shredding and Briquetting Machines
14. 14
Monetary Policy – The Challenge (1)
The proliferation of IT has…
redefined the toolkit of economic indicators used in
implementing monetary policy
rendered more complex, the task of compiling
statistical information
rendered difficult the task of capturing the impact
of IT on price levels
raised issues in respect of the possible
proliferation of digital money
15. 15
Monetary Policy – The Challenge (2)
transformed the conduct of the payment and
settlement system
set the stage for an unprecedented growth in
financial activity across the globe
Rendered more vulnerable the domestic payment
system and financial stability to international
“shocks”
… making the conduct of
monetary policy more complex and prone to
implementation and operational risks
16. 16
Monetary Policy – The Opportunity
The proliferation of IT has also set the stage
for improving and managing risks in
payment systems
Electronic Trading Systems
DVP/PVP
RTGS
Secured Netting Systems
The growth of the Central Counterparty (CCP)
Continuous Linked Settlement
17. 17
IT and Payment and Settlement
Systems
Demateria
-lisation
Of
Securities
Delivery
Versus
Payments
Payment
Versus
Payment
Continuous
Linked
Settlement
Electronic
Dealing
Platforms
Real
Time
Gross
Settlement
Central
Counter
party
Secured
Netting
Systems
19. 19
RBI Initiatives in Payment and
Settlement Systems (1)
The IDRBT
Network Externalities
The Indian Financial Network (INFINET)
Messaging Solutions
The Structured Financial Messaging
System (SFMS)
Security
Public Key Infrastructure
22. 22
Structured Financial Messaging System
Bank-1 Gateway Bank-2 Gateway Bank-n Gateway
Branch-1Branch-2Branch-n Branch-1Branch-2Branch-n Branch-1Branch-2Branch-n
Central Server at
IDRBT
………..…………….….. ………..…………….….
……..
… … … … … ……….………….……
23. 23
RBI Initiatives in Payment and
Settlement Systems (2)
A Real Time Gross Settlement System
Reduction of systemic risk in inter bank
payment systems
To be implemented by the year end
The Centralised Funds Settlement System
Facilitating effective liquidity management
The Negotiated Dealing System
A modern electronic dealing platform for gilts
Enabling Straight Through Processing
24. 24
Centralised Funds Management System
DAD-1
DAD-2
DAD-16
DAD-17
CFMS
Server
Gateway for the
participating banks
Bank 2
Bank 3
Bank n
Bank 1
Balance checks &
funds transfer
messages
27. 27
Negotiated Dealing System & the
Securities Settlement System
Electronic dealing platform in
government securities and
money market instruments-
Primary and Secondary markets
Quicker Price Discovery
Straight Through Processing-
Settlement of transactions
Delivery versus Payments
Efficient Servicing
Centralised Depository and
Debt Servicing
Wide Area Based Dealing
System
28. 28
RBI Initiatives in Payment and
Settlement Systems (3)
The Securities Settlement System
Providing centralized depository and
settlement services
Seamlessly integrated with the NDS and
RTGS Systems
The Clearing Corporation of India
Secured netting services with central
counterparty arrangements
G-Sec and Forex segments
Elimination of settlement risks with liquidity
saving elements
29. 29
The Clearing Corporation of India
Promoted by large banks &
financial institutions
Central Counterparty to
trades in
Government Securities
Forex markets
Secure netting system
30. 30
Technology Vision of the RBI
Centralised Database
Management System
EnterpriseEnterprise Knowledge
Management System
Integrated Accounting
System
Integrated Government
Accounting System
Currency Operations
System
Desk Top Decision Making Capability
Desk Top Analytical Capability
Desk Top Transactional Capability
Securities Settlement
System
Integrated Establishment
System
Offsite Supervisory
Systems
Integrated Forex
Management System
Human Resource
Information System
31. 31
RBI Initiatives in Payment and
Settlement Systems (4)
The final goal…
Establishment of a secure, efficient, modern
payment and settlement system in the
country
Ensuring full compliance with the Core
Principles for Systemically Important
Payment Systems of the Bank for
International Settlements
32. 32
Summary of Issues:
RBI as a user of technology (1)
The Technology Mission in RBI
To enable better and faster transactions,
analysis and decisions
To provide State of the art, online
transactional, analytical and decision making
capabilities at the desktop of each official in
a secured environment
33. 33
RBI as a user of technology (2)
The Strategy… On line Transactional Capability
An integrated solution for each functional area
Integrated Accounting Solution
RBI as “Banker to banks”
Integrated Government Accounting Solution
RBI as “Banker to government”
Securities Settlement System
For the management of public debt
Computerised Currency Operations and Management
Solution
Integrated Establishment Solution
34. 34
RBI as a user of technology (3)
The Strategy…On line Analytical
Capability
The Integrated Foreign Exchange
Management Solution
The Human Resource Information
System
Integrated Monetary Policy Solution
35. 35
RBI as a user of technology (4)
The Strategy…On line Decision Making
Capability
The Centralized Database Management
System
A data warehousing and data mining
solution
The Enterprise Knowledge Management
System
On an advanced stage on the drawing
board
36. 36
RBI as a user of technology (5)
Harnessing technology for more effective
dissemination of information
The RBI website
www.rbi.org.in
A Store House of information for
customers and for the general public
37. 37
RBI as a user of technology (6)
Customer Service
Multiple Delivery Channels
Coin & Note Dispensing Machines
For the general public
Interactive Voice Response System
For banks and financial institutions
Web server
For government customers
On the anvil…
A secured web server
SFMS/email based communication with
customers
38. 38
Customer Service…(1)
Dissemination of information
The RBI website
Multiple Delivery Channels
Coin & Note Dispensing Machines
For the general public
Interactive Voice Response System
For banks and financial institutions
Web server
For government customers
On the anvil….
A secured web server
SFMS/email based communication with
customers
39. 39
Customer Service...(2)
Improvements in payment and
settlement systems
MICR Clearing
Enabling faster clearing of
cheques
Cheque Truncation & E-Cheques
On the drawing board
ECS/EFT
Enabling T+2 settlement of our
equities market
National EFT
Enabling T+0 settlement of all
customer funds transfer
transactions
41. 41
RBI as a user of technology (7)
Customer Service
Improvements in payment and
settlement systems
MICR Clearing
Enabling faster clearing of cheques
Cheque Truncation & E-Cheques
On the drawing board
ECS/EFT
Enabling T+2 settlement of our equities market
National EFT
Enabling T+0 settlement of all customer funds
transfer transactions
42. 42
Pre-requisites for Technology
Planning forPlanning for
DisastersDisasters
Business ProcessBusiness Process
Re-engineeringRe-engineering
Human ResourceHuman Resource
EmpowermentEmpowerment
43. 43
The pre-requisites for Technology
Planning for disasters
Increased operational risk
Business Continuity Planning
Business Process Re-engineering
Human Resource Empowerment
