Technology – The Core Service Differentiator for The ... - IDRBT

Technology – The Core Service Differentiator for The ... - IDRBT Technology – The Core Service Differentiator for The ... - IDRBT

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Technology and Banking THE RBI RESPONSE Supervision 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.) INSTITUTE FOR DEVELOPMENT AND RESEARCH IN BANKING TECHNOLOGY October 9, 2004 Vepa Kamesam, Chairman IDRBT

Currency Management and Technology – Opportunities Galore Currency Management - a formidable task in India given… • the geographical size, the volume and value of notes and coins in circulation, preference for cash and currency handling practices • ...but technology offers immense opportunities to improve performance RBI’s The Clean Note Policy (1999) Establishment of 2 state of the art currency presses Technology driven anti counterfeit measures 48 fully automated Currency Verification & Processing Systems 21 Shredding and Briquetting Machines INSTITUTE FOR DEVELOPMENT AND RESEARCH IN BANKING TECHNOLOGY October 9, 2004 Vepa Kamesam, Chairman IDRBT

<strong>Technology</strong> and Banking<br />

THE RBI RESPONSE<br />

Supervision<br />

Offsite Supervision & Monitoring<br />

OSMOS<br />

COSMOS (Non banking Financial Companies /<br />

Development Financial Institutions)<br />

UBD Soft<br />

Credit In<strong>for</strong>mation Bureau (A joint venture between<br />

Housing Development Finance Corporation Ltd.,<br />

State Bank of India, Trans Union International Inc.<br />

& Dun & Bradstreet In<strong>for</strong>mation <strong>Service</strong>s India Pvt.<br />

Ltd.)<br />

INSTITUTE FOR DEVELOPMENT AND<br />

RESEARCH IN BANKING TECHNOLOGY<br />

October 9, 2004<br />

Vepa Kamesam, Chairman <strong>IDRBT</strong>

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