Escolar Documentos
Profissional Documentos
Cultura Documentos
Branch 5
E-Banking Developments
ALPMs and Back Office Computerization. Need to improve Customer Service. Reconciliation/ union problems.
Planning for
Disasters
Information Technology in Banking Sector 6
Communication Networks
MICR (Magnetic Ink Character Recognition) Clearing. BANKNET. INFINET. SWIFT. Electronic Funds Transfer at Point of Sale(EFTPOS) Electronic Data Interchange (EDI). Electronic Funds Transfer (EFT) System. Electronic Clearing Services (ECS). ATM network - SWADHAN (Shared Payment Network System).
MICR Clearing
Magnetic Ink Character Recognition. Introduced in 1987 in the four metros. 1,047 Clearing Houses; 42 with MICR. SB/CA Cheque leaves standardized size (8 X 3 2/3) are pre-printed with
the bank-branch code and account type in MICR strip, while the amount is read manually and fed into the system using the encoders for funds settlements.
Speeds up clearing work.
every year
Medium for non-cash transactions such as printing of statements, credit
BANKNET
Set up in 1991 by RBI Meant to facilitate transfer of inter-bank/ inter-branch messages within
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INFINET
Indian Financial Network. Set up by RBI in June 1999.
technology .
Major applications: E-mail, Electronic Clearing Service - Credit and
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Permits fund transfer up to Rs 5 lacs from any account at any branch of any
member bank in any city to any other account at any branch of any member bank in any other city.
RBI acts as the service provider as well as regulator.
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had 'buy-now-pay-later' advantages, EFTPOS or debit cards signify 'buy-now-pay-now' but without cash transaction. The user presents his ATM card when he buys goods and the EFTPOS system immediately debits his bank account.
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locations. EDI is fast becoming the norm for inter-company transactions and also for procurement of bought out items from the suppliers. The companies can now operate their bank accounts through corporate banking terminals in their own offices which are linked to the bank computers. Companies can thus carry out transactions like transferring funds, managing its cash flow, opening letters of credit,etc.
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ECS
Electronic Clearing Scheme (ECS) operated by the RBI since 1996-97 Utilizes BANKNET and INFINET Facilitates payment from a single account at a bank branch to any
number of accounts maintained with the branches of the same or other banks.
RBI has also launched ECS Debit for payment to utility companies
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SWADHAN
Launched in 1997 India's FIRST Shared Payment Network Service 55 member banks in the network, which include nationalized, private and
foreign banks
Enables member banks to share their ATMs with other participating banks Objective - reduce the huge investment being made by the banks to deploy
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Services
Bill Payment through Electronic Banking Electronic Shopping Mall Effecting Personal Investments through Electronic Banking
Trading in shares Investing in Mutual Funds
Trade In Derivatives
IPOs Online
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Smart Cards
Multi-application Smart Card Channel of the future Pilot project started Pilot Project funded by Govt. of India
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Beware of
Hacking Phishing Pharming Skimming Trojan
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THANK YOU
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