Mobile Banking For Inclusive Growth - Punjab National Bank ...

e-trackEditorPratima TrivediEditorial TeamAmbrish MishraPramod DikshitSanjay SrivastavaNidhi GoyalPrinted bye-trackDharmendra TewariSwastik Printing Press27, Mai Gi Ki Bagiya,Kapoorthala Crossing,Mahanagar, LucknowMobile : 9415419300punjab national bank instituteof information technologyVibhuti Khand, Gomti Nagar,Lucknow--226 010 (U.P.)T : +91 522 2721442, 2721174F : +91 522 2721201, 2721441E-mail : bankingtech@pnbiit.co.inURL : www.pnbiit.comThought for the quarterThe heights by great men reached andkept were not obtained by sudden flight.But they, while their companions slept,were toiling upward in the night.Thomas S. MonsonFrom the editorDear Readers,Mobile banking has taken off during the lastcouple of years. The widespread use of mobile phonesin our country offers a platform for financialtransactions that can facilitate financial inclusion ofpeople who would otherwise be outside the purview ofthe financial system. A combination of technology andinnovative business practices is rapidly changing theway in which people conduct financial transactions.Article “Mobile banking for Inclusive Growth” hasbeen incorporated in this volume of e track, tohighlight various issues relating to it.With a view to inter-connect the ATMs in the country and facilitate easybanking for the common man, the IDRBT conceptualized, developed andimplemented the National Financial Switch. The National Financial Switchfacilitates routing of ATM transactions through inter-connectivity between theBank's Switches, thereby enabling the citizens of the country to utilize anyATM of a connected bank. At present the switch has been handed over byIDRBT to NPCI. The article “National Financial Switch”throws light onvarious issues relating to it.Reserve Bank of India has come out with Standardisation andEnhancement of Security Features in Cheque Forms and prescribed certainbenchmarks towards achieving standardisation of cheques, known as CTS-2010. These specifications are added in this serving of e track to make thereaders aware of it.Special Economic Zones have become the most talked about in theIndian economic circles, but due to its ambiguous policy, it has faced strongopposition from the leftist parties, activities, farmer groups, economist andurban planner during 2006. However now it is been realized that they are thepockets of manufacturing excellence which apart from export growth andattracting FDI are contributing significantly towards the generation leading tothe increased economic growth of the country. The article “Special EconomicZones: Engines of Growth” covers various intricacies relating to it at large.Information Technology has entered every nook and corner of theBanking Industry. Various consequences of it are covered in the article “ImpactOf Information Technology On Banking Sector”.Hope you will savor this serving of e track ……Happy Reading…………..Pratima Trivedie-mail : pratima@pnbiit.co.inContentsFrom the pen of the Chairman 3Did you know ? Ashish Bajpai 4From the Director's desk P K Malhotra 5Mobile Banking For Inclusive Growth Dr S N Ghosal 6National Financial Switch (NFS) Prof. (Dr.) Firdos T.Shroff 10Tips & Tweaks Piyush Mishra 12Standardisation and Enhancement of Security Features in Cheque Forms 13Special Economic Zones: Engines of Growth Anchal Singh 17Impact of Information Technology On Banking Sector. Sadhana Misra 22Financial / Technical news 26January-March-20102