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A PROJECT REPORT
ON
MANAGEMENT INFORMATION SYSTEM (MIS)
IN RESERVE BANK OF INDIA
ADITI H. HANDE
ROLL NO. 14
DECLARARTION
I Aditi Hande studying in M.COM-I (Business Management) hereby
declares that I have done a project on Management Information System
(MIS) In Reserve Bank Of India As required by the university rules, I
state that the work presented in this thesis is original in nature and to the
best my knowledge, has not been submitted so far to any other
university.
Whenever references have been made to the work of others, it is clearly
indicated in the sources of information in references.
(Aditi Hande)
Place: Thane
Date:
ACKNOWLEDGEMENT
It gives me great pleasure to declare that my project on Management
Information System In RBI have been prepared purely from the point of
view of students requirements.
This project covers all the information pertaining to MIS. I had tried my
best to write project in simple and lucid manner. I have tried to avoid
unnecessary discussions and details. At the same time it provides all the
necessary information. I feel that it would be of immense help to the
students as well as all others referring in updating their knowledge.
I am indebted to our principal Dr. Mrs. Shakuntala A. Singh Madam for
giving us such an awesome opportunity. I am also thankful to our coordinator Mr. D.M. Murdeshwar Sir and also librarian and my
colleagues for their valuable support, co-operation and encouragement in
completing my project.
Special thanks to Prof. Mr. S.N.Chitale my internal guide for this project
for giving me expert guidance, full support and encouragement in
completing my project successfully.
I take this opportunity to thanks my parents for giving guidance and for
their patience and understanding me while I am busy with my project
work.
EXECUTIVE SUMMARY
Management information Systems (MIS) sometimes referred to as Information Management
and Systems are the discipline covering the application of people, technologies, and procedures
collectively called information systems to solving business problems. Management
Information Systems are distinct from regular information systems in that they are used to
analyze other information systems applied in operational activities in the organization.
Academically, the term is commonly used to refer to the group of information management
methods tied to the automation or support of human decision making, e.g. Decision Support
Systems, Expert systems, and Executive information systems. The terms MIS and
information system are often confused. Information systems include systems that are not
intended for decision making. MIS is sometimes referred to, in a restrictive sense, as
information technology management. That area of study should not be confused with
computer science . IT service management is a practitioner-focused discipline. MIS has also
some differences with Enterprise Resource Planning (ERP) as ERP incorporates elements that
are not necessarily focused on decision support
INDEX
Sr.No
Chapter1
Chapter2
Chapter3
Topic
Management Information System
1.1 Introduction
1.2 Origin And Evolution
1.3 MIS And Small Business
1.4 Types & Terminology
1.5 Objectives Of MIS
1.6 Characteristics Of MIS
1.7 Advantages Of MIS
1.8 Steps In MIS
1.9 Enterprise Application
MIS In Banking
2.1 Introduction
2.2 Relevance Of MIS In Banking In India
2.3 Need For Building MIS
2.4 Application Of Data Mining & Data
Warehousing In Banks
MIS In RBI
3.1 Reserve Bank Of India
3.2 Management Information System
3.3 Data Model For Information System
3.4 Meta Data Directory
3.5 Technology And Design
3.6 Organization Structure For Information
Management
Conclusion
Bibliography
Page No
6-21
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9
11
13
15
16
18
19
21
22-26
22
23
24
25
27-35
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29
31
32
33
34
36
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widely in the 80s. Some of these were used as free-standing "seeds" of MIS
systems serving sales, marketing, and personnel systems, with summarized data
from them transferred to the "mainframe." In the 1980s networked PCs appeared
and developed into powerful systems in their own right in the 1990s in many
companies displacing midsized and small computers. Equipped with powerful
database engines, such networks were in turn organized for MIS purposes.
Simultaneously, in the 90s, the World Wide Web came of age, morphed into the
Internet with a visual interface, connecting all sorts of systems to one another.
Midway through the first decade of the 21st century the narrowly conceived idea of
the MIS has become somewhat fuzzy. Management information systems, of
course, are still doing their jobs, but their function is now one among many others
that feed information to people in business to help them manage. Systems are
available for computer assisted design and manufacturing (CAD-CAM); computers
supervise industrial processes in power, chemicals, petrochemicals, pipelines,
transport systems, etc. Systems manage and transfer money worldwide and
communicate worldwide. Virtually all major administrative functions are supported
by automated system. Many people now file their taxes over the Internet and have
their refunds credited (or money owning deducted) from bank accounts
automatically. MIS was thus the first major system of the Information Age. At
present the initials IT are coming into universal use. "Information Technology" is
now the category to designate any and all software-hardware-communications
structures that today work like a virtual nervous system of society at all levels.
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also reasons for not automating things too much: in modern times a business can
grind to a dead halt because "the network is down."
Upgrading the information system usually begins by identifying some kind of a
problem and then seeking a solution. In that process a knowledgeable resourceperson brought in from the outside can provide a great deal of help. If the problem
is over-stocking, for example, solving that problem will often become the starting
point for a new information system touching on many other aspects of the
business. The first question a consultant is likely to ask will concern how things are
managed now. In the description of the process, the discovery of potential solutions
will begin. It is usually a good idea to call on two or three service firms for initial
consultations; these rarely cost any money. Once the owner feels comfortable with
one of these vendors, the process can then be deepened.
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14
Information
Management
Systems
(SIMS)
cover
school
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OBJECTIVES OF MIS
Goals of an MIS are to implement the organizational structure and dynamics of the
enterprise for the purpose of managing the organization in a better way and
capturing the potential of the information system for competitive advantage.
Following are the basic objectives of an MIS:
Capturing Data: capturing contextual data, or operational information that
will contribute in decision making from various internal and external sources
of organization
Processing Data: the captured data is processed into information needed for
planning, organizing, coordinating, directing and controlling functionalities
at strategic, tactical and operational level. Processing data means:
o making calculations with the data
o sorting data
o classifying data and
o summarizing data
Information Storage: information or processed data need to be stored for
future use.
Information Retrieval: the system should be able to retrieve this
information from the storage as and when required by various users.
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CHARACTERISTICS OF MIS
The management information system has the following characteristics 1) System approach: MIS is based on the System approach. It is a step by step
approach to the study of system and its performance. Performance is made in the
light of the objective which has been constituted for that purpose.
2) Management oriented: Under MIS, necessary information is provided to each
manager at the right time, in right form and a relevant one, which is required by the
management by providing information in taking effective managerial decision.
3) Future oriented: MIS is designed and developed keeping in view the future
position of the business. Therefore, MIS should provide useful information on the
basis
of
projections
based
on
which
future
action
can
be
taken.
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5) Common-data followed: MIS deals with the common data that are available in
the business. Because, MIS provides data and information for taking effective
managerial decision, which must select the real picture of the business.
6) Long term planning: MIS is prepared for long term planning of the business.
So, the designer should avoid the outdated data and information in designing and
developing time of MIS. The designer should consider the present situation and
future
trend
of
the
business
activities,
when
MIS
is
designed.
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ADVANTAGES
The following are some of the benefits that can be attained using MIS.
Companies are able to identify their strengths and weaknesses due to the
presence of revenue reports, employees' performance record etc. Identifying
these aspects can help a company improve its business processes and
operations.
Giving an overall picture of the company.
Acting as a communication and planning tool.
The availability of customer data and feedback can help the company to
align its business processes according to the needs of its customers. The
effective management of customer data can help the company to perform
direct marketing and promotion activities.
MISs can help a company gain a competitive advantage. Competitive
advantage is a firms ability to do something better, faster, cheaper, or
uniquely, when compared with rival firms in the market.
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STEPS OF MIS
Following
are
the
steps
of
Management
Information
System.
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iii) Storage and Retrieval: In this step of MIS different activities such as
indexing, coding, filing of data and information are done. As a result of this step,
the managers and directors of the company can easily use and operate the data and
information as per their requirement.
iv) Evaluation: It is an important step, where accuracy and relevance of data can
be determined. Determination of relevance of data is immensely important for
taking
effective
decision
at
each
level.
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ENTERPRISE APPLICATION
Enterprise systems also known as enterprise resource planning (ERP)
systems provide integrated software modules and a unified database that
personnel use to plan, manage, and control core business processes across
multiple locations. Modules of ERP systems may include finance,
accounting,
marketing,
human
resources,
production,
inventory
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MIS IN BANKING
INTRODUCTION
The term Management Information System (MIS) 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. Often, these reports are generated through computers and can be
generated at any point of time. However, the usage of the terms data warehousing
and data mining are relatively new. These terms have gained significance with the
growing sophistication of technology and the need for predictive analysis with
What if simulations. MIS in the present context of high availability of voluminous
data on electronic media at diverse locations and on diverse platforms, has become
more pertinent to banks decision-making process, thanks to the availability of new
tools of technology such as data warehousing, data mining. Data warehousing
which refers to collection of data from various sources (internal and external) and
placing them in a form suitable for further processing which will gain critical
importance in the presence of data mining which refers to the process of extracting
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hidden information and generating several types of analytical reports which are
usually not available in the original transaction processing systems.
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computer systems at Zonal/ Head Offices and have the capability to generate MIS
data. Banks have not implemented such packages partly because of the high costs
and partly because of the absence of any strategic plan to collate information at the
corporate level by using the TBC packages.
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Significant cost benefits, time savings, productivity gains and process reengineering opportunities are associated with the use of data warehouse for
information processing. Data can easily be accessed and analysed without time
consuming manipulation and processing. Decisions can be made more quickly and
with confidence that the data are both time-relevant and accurate. Integrated
information can be also kept in categories that are meaningful to profitable
operation.
Trends can be analysed and predicted with the availability of historical data and
the data warehouse assures that everyone is using the same data at the same level
of extraction, which eliminates conflicting analytical results and arguments over
the source and quality of data used for analysis. In short, data warehouse enables
information processing to be done in a credible, efficient manner.
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MIS IN RBI
RESERVE BANK OF INDIA
The Reserve Bank of India is India's Central Banking Institution, which controls
the Monetary Policy of the Indian Rupee. On 1 April 1935 during the British Rule
in accordance with the provisions of the Reserve Bank of India Act, 1934. The
original share capital was divided into shares of 100 each fully paid, which were
initially owned entirely by private shareholders. Following India's independence on
15 - August - 1947, the RBI was nationalised in the year of 1949.
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The RBI plays an important part in the Development Strategy of the Government
of India. It is a member bank of the Asian Clearing Union. The general
superintendence and direction of the RBI is entrusted with the 20-member Central
Board of Directors: the Governor (Dr. Raghuram Rajan), 4 Deputy Governors, 1
Finance Ministry representatives, 10 government-nominated directors to represent
important elements from India's economy, and 4 directors to represent local boards
headquartered at Mumbai, Kolkata, Chennai and New Delhi. Each of these local
boards consists of 5 members who represent regional interests, and the interests of
co-operative and indigenous banks.
The bank is also active in promoting financial inclusion policy and is a leading
member of the Alliance for Financial Inclusion (AFI).
The Reserve Bank of India was founded on 1 April 1935 to respond to economic
troubles after the First World War. RBI was conceptualized as per the guidelines,
working style and outlook presented by Dr B. R. Ambedkar as written in his book
The Problem of the Rupee Its origin and its solution. in front of the Hilton
Young Commission.The bank was set up based on the recommendations of the
1926 Royal Commission on Indian Currency and Finance, also known as the
HiltonYoung Commission. The original choice for the seal of RBI was The East
India Company Double Mohur, with the sketch of the Lion and Palm Tree.
However it was decided to replace the lion with the tiger, the national animal of
India. The Preamble of the RBI describes its basic functions to regulate the issue of
bank notes, keep reserves to secure monetary stability in India, and generally to
operate the currency and credit system in the best interests of the country. The
Central Office of the RBI was established in Calcutta (now Kolkata), but was
moved to Bombay (now Mumbai) in 1937.
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30
ii.
iii.
In the light of (i) and (ii) above, suggest changes in the process of receipt,
storage, access, management and dissemination of monetary, macrofinancial and supervisory data.
iv.
v.
vi.
31
32
datasets, which are secondary in nature, the input data structure is to be taken as
available.
The Committee considered the possibility of getting all the information in granular
form. After considerable deliberation, it concluded that some data are relevant only
at the aggregate level. Thus, the focus should be on collecting relevant, coherent
and unduplicated data from banks. This will also reduce the reporting burden on
banks. The Committee, therefore, recommends three generic data collection
structures: (i) aggregated data, (ii) distributed aggregates, and (iii) granular data
depending on the relevance of data at different operational hierarchies.
META DATA DIRECTORY
An efficient and effective data management function in the Reserve Bank means
that the Bank should be in a position to know at any time point what data are being
collected from various constituencies at what intervals and in what form. The
Committee recommends that it will be useful to prepare a Data Element Directory
that lists data elements with their related attributes to be collected from various
constituencies.
A Data Dissemination Directory with details of variables, definitions, statistical
attributes and other time series attributes needs to be prepared and maintained as
part of the metadata directory. This will also facilitate dissemination of time series
data using the Statistical Data and Metadata Exchange (SDMX) standard. A Data
Channel Directory with details of data channels, data sources and mode of transfer
may need to be maintained for monitoring and follow-up.
The data element, data dissemination and data channel directories should be
maintained centrally and in a proper database format so that they can be accessed
33
by data managers, data users and software developers. These directories will form
the backbone of data management processes such as collection, storage and
dissemination.
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35
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of the organisation, including data, and implementing data governance and the
information governance framework.
The entire data requirement of the Reserve Bank should be managed centrally for
coherence, integrity, consistency and accountability. The responsibilities of the
information management unit should broadly be along the following lines:
Set up data governance policies
Maintain master data and data standards
Manage information resources (acquisition, storage, reports, dissemination)
with IT tools and platforms
Provide feedback to user departments on data quality issues
Implement data quality based on the validation rules provided by the
identified nodal business unit
Develop new modules as per user requirements
The manpower in the Information Management Unit should predominantly have
statistics and information technology (IT) as their core competency. The staff
associated with information management in regulatory, supervisory and research
departments may move to the IMU in a phased manner concurrently with the
transfer of data-related activity from these departments to the IMU. In addition,
there will be a need to post some officers in the unit who have knowledge of
economics and experience in regulation and banking supervision to ensure that the
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information needs of the Bank for all its functions are well understood and met on
a continued basis.
CONCLUSION
MIS differ from regular information systems because the primary objectives of
these systems are to analyze other systems dealing with the operational activities in
the organization. In this way, MIS is a subset of the overall planning and control
activities covering the application of humans, technologies, and procedures of the
organization. Within the field of scientific management, MIS is most of ten tailored
to the automation or support of human decision making. Management information
systems (MIS) make it possible for organizations to get the right information to the
right people at the right time by enhancing the interaction between the
organizations people, the data collected in its various IT systems, and the
procedures it uses. It brings together the raw data collected by the various business
areas of the organization, which, while useful for specific functions such as
accounting, does not provide, by itself, information that can be used to make
decisions. As organizations grow, MIS allows information to move between
functional areas and departments instantly, reducing the need for face-to-face
communications among employees, thus increasing the responsiveness of the
organization.
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BIBLIOGRAPHY
http://en.wikipedia.org/wiki/Management_information_system
http://www.tutorialspoint.com/management_information_system
http://rbi.org.in/scripts/PublicationReportDetails.aspx
en.wikipedia.org/wiki/Reserve_Bank_of_India
www.rbi.org.in/commonman/english/scripts/FAQs.aspx