Thesis on core banking of sbi - Dissertations Help: Research Paper on State Bank of India-Strategic Issues
internet banking, mobile banking and phone banking; to a large extent avoid customers going to branch premises and has provided a wider range of services to the customers. There is a degree of variation in the services provided by the banks with the emergence of E-banking services. So, it becomes necessary to study the nature, growth.
Though, bySBI had re-established its position as India's largest bank, there was a drop in profits and its leadership position in India was once again threatened. The challenge before Pratip Chaudhuri, who took up the reins of SBI in Sbiwas how to stem the rot and maintain its market leader position. Indian Banking Scenario In the pre-structural thesis banking of the Indian economy, till the s, the banking sector was dominated by public sector banks occupying three-fourths of the total banking industry.
Catering to the needs of planned development in a mixed economy framework and huge development expenditures, the public sector Old games vs new games essay were weighed down with huge NPAs, falling revenues, lack of modern technology and a massive and highly unionized workforce.
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Financial sector reforms, dictated by the World Bank-IMF and set in motion intransformed the Indian banking industry from a regulated environment to a deregulated market economy7 Refer Exhibit 1 for summary of financial sector reforms.
The liberalization and globalization of the Indian economy opened the doors for private sector banks including foreign banks to make their appearance for the first time in India. Leveraging on sbi emerging information technology, the private sector banks initiated a number of user-friendly services such as Internet Banking, Automatic Teller Machines ATMsthesis cards, credit cards, mobile banking, phone banking, demat accounts and extension of business hours.
The stateof- the-art banking not only helped to save on manpower costs but also helped them to provide core services, and so maximize customer satisfaction.
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By the mids, the private banks grew in size through sbi mergers and theses, to reap the benefits of economies of scale and expansion.
They brought a new culture into the Indian banking industry. Instead of customers banking in queues at banks, the private banks started offering services to the customers at their doorsteps. These banks Public private partnership research paper employed state-of-the-art technology, which helped them to save on manpower costs and concentrate on providing better service.
The local implementation prevented the bank from core gaining a single view of corporate accounts, and management lacked readily available information needed for decision making and strategic planning.
In fact, this technology-savvy market segment viewed the public-sector banks as technology laggards that could not meet their banking needs.
Research Proposal on State Bank of India-Strategic Issues
InSBI adopted a new technology that included the implementation of a new centralized core banking system. This effort encompasses the largest 3, branches of the bank that were located in city and suburban areas.
The bank faced several extraordinary challenges in implementing a centralized core processing system. These challenges included finding a new core system that could process approximately 75 million accounts daily — a number greater than any bank in the world was processing on a centralized basis.
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Moreover, the bank lacked experience in implementing centralized systems, and its large banking base took great pride in executing complex transactions on local in-branch systems. This practice led some people to doubt that the employees would effectively use the new system. The successful conversion and operation of the pilot branches was followed by the conversion of retail branches with high-net-worth customers core August and September At this point, Organic food trends essay bank intentionally halted the conversions to analyze and thesis reported problems.
After the software and procedural changes were implemented, SBI converted an additional branches between December and March Unlike in sbi previous conversions, this group of branches included predominantly commercially oriented offices.
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The conversion effort then refocused on retail branches until Novemberwhen the bank paused again to resolve problems that came up during this banking group of conversions. After the second round of changes, the system and processes were functioning smoothly, and management believed the branch conversion could be accelerated. The conversion of the remaining branches began in Junewith the core goal of completing the conversion by year-end The factors which helped SBI in managing such a huge change are as follows: The project was driven by the What to write in a sympathy card for loss of Sbi, who met every month with the information technology IT and the business sector heads.
The chairman monitored the overall status and ensured that sufficient resources were allocated to the thesis. TCS senior managers were thoroughly committed to the project as well and periodically met with the SBI chairman to review the project status.
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Importantly, the SBI business people were viewed not just as contributors to a key project but as future bank leaders. This team reported to the SBI chairman and was empowered with all decision-making authority. The regional business line heads were responsible for the success of conversion of their respective branches and reported the status to the chairman. SBI used its network of 58 training centers across India to train employees on the new system.
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TCS personnel first educated approximately SBI professional trainers, who then trainedSBI employees at the centers; the remaining employees trained at their respective job sites. Benefits of New Core Systems Implementation The new core system has resulted in benefits throughout the bank for both the customers and the employees of SBI.
For example, the new core banking system has allowed the bank to redesign processes. It established regional processing centers for all metro and urban branches that have assumed functions previously performed in the individual branches. Meaning, they can carry out any transaction in any branch of the bank. After implementation of this system the bank has reversed the trend of customer attrition and is now gaining new market share.