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Arpit Kulshreshtha
Peeyush Mittal
Sukhvinder Singh
Deogan
Rohit Ghosh
Rishi Malhotra
OVERVIEW OF BANKING
SECTOR
The Indian Banking industry is currently worth Rs.
(US $ 1.31 trillion)
81 trillion
90,000
credit cooperatives.
1895 at
1969
50
July
More than
renowned international
banks maintain their
Rupee Accounts with
PNB.
4668 Offices
including 432Extension
inIndia -
217
thmorethan
international banksof
theworld.
Variousfactorswhichcausedabarrieri
n
implementinganInformationSystemfo
rcentralizedbanking were:
Different Unix OS used indifferent
branches.
Differentstandalonefinancialapplicationso
nPCsatdifferent branches.
Lack of interoperability due to disparity
insystems.
Limited expertise on the software packages
currently deployed.
Most branches did not have a proper LAN in
place.
30 March
2001, The bank
On
PNBpurchasedservers,securityi
nfrastructure,
andstorageequipment and
decided to house it in its data
centers. A lot of infrastructure
from Cisco has been used.
The bank
continued to
spread the
technology
to more of
its branches
and centers.
On May27,2004,
PunjabNationalBank(PNB)hasintroduced
LoansandAdvances Data Desk for Evaluations and Reports,
(LADDER), a computerized managementinformationsystem
for rationalizationofreturns,asset classification and
provisioning, credit monitoring and NPAmanagement.
RECOMMENDATIONS
The bank must update Hardware to get
maximum performance from Information
Systems in order to allow the IS to procure the
least amount of system resources it requires
for functioning.
The bank should update all their software,
networks etc. to keep information system up
to date for competitive edge, customer
satisfaction.
Steps should be taken to increase the safety &
to avoid the unethical practices like phishing.
Need for improved training for using
Information Technology and tools to
employees.
Intra firm communication should be improved.