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Article Name : | | An IT Governance in Co-operative Banks | Author Name : | | Madhulika Shahoo Gupta | Publisher : | | Ashok Yakkaldevi | Article Series No. : | | GRT-2584 | Article URL : | | ![](images/pdf_download.png) | Author Profile View PDF In browser | Abstract : | | Technology has turned into the vigor of the Indian co-operative banks since the past decade with the financial sector reforms providing the basis. The question of putting into practice the technology has now changed into 'how' from the former 'why'. It is a confirmed truth that technology lessens the cost of servicing. Furthermore, technology has resulted in enhanced quality of services, any time/anywhere banking, focused product delivery, cross selling opportunities, multi-channel touch points for using up of services, etc. As the triumph of the co-operative banks is more and more inclined on the proper adoption and utilization of technology, IT Governance has assumed immense importance. Merely, IT Governance is nothing but a division of Corporate Governance apprehensive about guaranteeing suitable track and management of IT activities to the advantage of a Bank. As the overseas banks operating in India made the start, the new banks assertively started offering services based on technology. Though, the public/cooperative sector banks had to move over from the load of the past inheritance. Nevertheless, the speedy walk made by the technology sector and their quick espousal by the competitors have enforced these banks also to get into the act by commencing to offer IT-oriented products and services. Today, nearly all commercial banks and some cooperatives are at some phase of technology embracement, be it Automated Ledger Posting Machines, Total Branch Automation or Core Banking solution (CBS). According to latest estimates, CBS covers around 40% of the bank branches accounting for nearly 70% of the business volume. ATMs (including shared ATMs aided further by the National Financial Switch initiative of RBI), internet banking, any branch banking, credit cards, debit cards, etc. are being increasingly offered. There are over 11,000 ATMs across the country and 11 million net connections with around 23 million users. | Keywords : | | |
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