what is computerisation banks?
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Answer:
Computerization In Banks
It is a transfer system for funds where money is being transferred from one bank to another bank on gross and real time basis.
Computerization In Banks
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As the Indian banking and financial system develops and gets integrated with the international financial markets, it has to be technically ready to meet the challenges. The banks in India are gearing to shed their age-old style of functioning and to adopt the computer-aided modern system and procedure on the lines of what has been done in other parts of the world.
Employee involvement in technology up gradation
For successful implementation of computerization/mechanization programme and technology up gradation, cooperation of the indispensable and equally, their apprehensions in this regard need to be removed. The bipartite negotiations between IBA representing bank management and the bank employees’ unions constitute a mechanism for resolving various issues about the use of higher technologies in bank and in working out acceptable levels of Computerization.
Way back in 1966, the IBA, alone with the exchange banks association signed the first wage settlement with the unions, which inter alia provide for using IBM or ICT accounting machines for inter branch reconciliation, agency accounts, salary and provident fund accounts, etc.
In 1983, for the first time a comprehensive settlement exclusively for computerization/mechanization was signed, providing for installation of Advanced Electronic Ledger Posting Machines (AELPMs) at branches, mini computers at Zonal/Regional Offices and one mainframe computer for each bank. The second computerization settlement of 1987 defined the scope of AELPMs, their configuration and also fixed the parameters for branches where the machines could be installed.
BANKNET
Banknet is a payment network established by RBI which functions with in India and was launched during 1991. The system makes use of inter-city trunk voice grade data circuits. The user bank can access BANKNET from their premises through lease or dial-up lines at the local centres using ports on PADS and UNIX machines with popular data communication softwares. The message of banking transactions can be transferred in coded form for settlement of transaction and advices. It enables transfer of data and other statement to RBI. Access to SWIFT is also possible through this system.
RBINET
It is a communication system operating over the BANKNET. RBINET client running a personal computer is called RBINET Dos client and he can communicate with its server over a dedicated leased line or dial up line.
I-net
I-net owned by Deptt of Telecommunications (DoT) is a packet switching public data network (PSPDN) which was opened in 1983 for slow speed data communication. I-net uses telephone connection and satellite for communication through which communication is possible across major metropolis and other international network. The subscribers can also from a private network within I-net.
NICNET
National Informatic Centre Network (NICNET), a part of internet services was set up in 1975 to promote information culture which is a govt organization. It provides multiple services to user department which include finance, agriculture, industry, commerce by making use of various applications. The host computer in NICNET is stationed in New Delhi. Currency chest operations in banks are performed through NICNET.
INFINET
Indian financial Network, the satellite based VSAT network developed by institute for development and research on banking technology (IDRBT Hyderabad, an RBI sponsored organization) is fast and secure intra-bank and inter-bank communication system.