Synopsis on

Management Information System in Banking Industry

A) INTRODUCTION :
Management Information System the term is not new to the banking sector. Since the early 80s, banks have been using this terminology to refer to the process of generating various reports and analyses at the Corporate/Head offices for their decision making for own use as well as for conveyance to authorities in charge of regulation. It is well known fact that organizations grow in level and also in their complexity of functioning.Tremendous amount of information is generated ever year, most of it goes into the archiveswithout any reference to it the future. Also information which is needed by the organization fordifferent applications is not possible to be made available at the right time at the right level. MIS isconsidered as one such method of generating information which is used by management of organization for decision making, control of activities, operations etcMIS Means Management information system, Use and manage information systems to revitalize business process. Improve business decision making with information technologies. Gain competitive advantage on the market Management Information Systems in Banking Key elements: Internet technologies as platform for business and commerce Collaboration processes among all business stakeholders in networked enterprises Global markets and the international dimension Foundation Concepts Decision support in Business and Banking Information technologies and Banking applications An approach to computing, systems and information channels Developing business

Management Information System (MIS) is needed. To proceed towards the making of a comprehensive monitoring and evaluation System, the first stage is to develop a monitoring and evaluation framework at the departmental level so that the existing monitoring and evaluation systems can be streamlined and the future development of the new systematic monitoring and evaluation systems at the field level is guided.

IMPORTANCE :
MIS systems can be used to transform data into information useful for decision making. Computers can provide financial statements and performance reports to assist in the planning, monitoring and implementation of strategy. MIS systems provide a valuable function in that they can collate into coherent reports unmanageable volumes of data that would otherwise be broadly useless to decision makers. By studying these reports decision-makers can identify patterns and trends that would have remained unseen if the raw data were consulted manually. MIS systems can also use these raw data to run. Simulations - hypothetical scenarios that answer a range of what if questions regarding alterations in strategy. For instance, MIS systems can provide predictions about the effect on sales that an alteration in price would have on a product. These Decision Support Systems (DSS) enable more informed decision making within an enterprise than would be possible without MIS systems. Data Processing Not only do MIS systems allow for the collation of vast amounts of business data, but they also provide a valuable time saving benefit to the workforce. Where in the past business information had to be manually processed for filing and analysis it can now be entered quickly and easily onto a computer by a data processor, allowing for faster decision making and quicker reflexes for the enterprise as a whole.

SIGNIFICANCE :
Management Information System (MIS): Management Information System (MIS) is a system that helps management in making, carrying out and controlling decisions. In effect, a project/ program monitoring system is a Management Information System that provides information for making decision by the management.

1. Significant cost benefits, time savings, productivity gains and process reengineering opportunities are associated with the use of data warehouse for information processing. 2. Foundation of Information Systems in business. 3. The Real World of Information Systems. 4. Finance/budget & cost/ROI. 5. Update systems to Internet. 6. Improve end users involvement. 7. Higher management participation. 8. Data can easily be accessed and analysed without time consuming manipulation and processing. 9. Decisions can be made more quickly and with confidence that the data are both time-relevant and accurate. 10. Integrated information can be also kept in categories that are meaningful to profitable operation.

B) RATIONALE :
Following problems found in management information system in banking sector while studiyng Manual procedures If your data is update data and correct data then you will recd correct mis otherwise you will recd wrong output.

The need to design and implement a new Management information system which would facilitate the internal transformation of banking sector , ensuring full participation and involvement of all public servants.

C) OBJECTIVE : The MIS of Bank whose branches are so well-spread becomes a pivotal point of study as it caters to many segments of the society (urban and rural) and offering a diversified portfolio of services like credit cards, loans, bank accounts, etc... Thus, it becomes absolutely essential for a bank to maintain an accurate mass record of all transactions of every individual or corporate. One cannot

ignore the fact that every record / data should have a reliable back-up in case of any uncertainty like System Crashing, Virus Affected, etc... - Better-relate to our theoretical knowledge - Better understanding of a renowned company which uses MIS extensively and forms a part of its core activities, without the efficient management of which it would become Gain knowledge on the different types of MIS used in various departments for diverse activities appropriately. - While computers cannot create business strategies by themselves they can assist management in understanding the effects of their strategies, and help enable effective decision-making. MIS systems can be used to transform data into information useful for decision making. Computers can provide financial statements and performance reports to assist in the planning, monitoring and implementation of strategy.

D) HYPOTHESIS :
There will be two major financial measurements hypotheses evaluated in this research. They are: H-1 * Significantly MIS system is saving time were we will find out current status of organisation. * Significantly MIS system is not saving time were we will find out current status of orgnaisation. H-2 * Significantly making within an enterprise than would be possible without MIS system. * Significantly making within an enterprise than would not be possible without MIS system.

E) RESEARCH METHODOLOGY :
Sample size: 50 employees from Banks.

Sources of Data :

Primary Data : The data will be collected through primary and secondary

sources. The primary data will be collected by administering a questionnaire and through interaction with Stewards, Front Office Assistants, Sr Managers, Manager, & Front Office Manager of the Banks

Secondary Data : will be collected from the Banks website, records,

manuals, brochures, annual reports, etc.

Tools of Data Analysis : Statistical tools will be used in the form of Pi-

Charts, Graphs and Diagrams

F) EXPECTED CONTRIBUTION :
- Gain knowledge on the different types of MIS used in various departments for diverse activities appropriately. - Better understanding of a renowned company which uses MIS extensively and forms area for further research

G) CHAPTERISATION :
Chapter- I : Introduction Chapter- II : Theoretical Background Chapter_ III : Industry Profile Chapter- IV : Data Presentation and Analysis Chapter- V : Findings, Suggestions and Conclusion Bibliography Appendix