April_June 10.cdr - Punjab National Bank Institute of Information ...


April_June 10.cdr - Punjab National Bank Institute of Information ...

e-trackwebsite usually store, or arrange for the storage of, the sum total of your purchases. The two mostthe electronic files that make up the website. These common brands of credit card in India are VISA andfiles are stored on one or more servers that may be MasterCard.located on the hosting financial institution'spremises. Website hosting services require strongskills in networking, security, and programming.TYPES OF CARDSON THE BASIS OF CARD CATEGORY:The technology and software change rapidly. * Credit Cards.Institutions developing websites should monitor the * Charge Cards.need to adopt new interoperability standards and * Smart Cards.protocols such as Extensible Mark-Up Language* Debit Cards.(XML) to facilitate data exchange among the diverse* Add-on Cards.population of Internet users.* Gift Cards.* Skip Cards.PAYMENTS FOR E-COMMERCEMany businesses accept various forms ofON THE BASIS OF BRAND/PROVIDER:electronic payments for their products and services. * VISA Cards.Financial institutions play an important role in * Master Cards.electronic payment systems by creating and * Maestro Cards.distributing a variety of electronic payment * Cirrus Cards.instruments, accepting a similar variety of ON THE BASIS OF CARD VALUE:instruments, processing those payments, and * Silver/Classic Cards.participating in clearing and settlement systems. * Gold Cards.However, increasingly, financial institutions are * Platinum Cards.competing with third parties to provide support* Titanium Cards.services for e-commerce payment systems. Among* Premier Cards.the electronic payments mechanisms that financialON THE BASIS OF CARD VARIETY:institutions provide for e-commerce are automated* Petro Cards.clearing house (ACH) debits and credits through theInternet, electronic bill payment and presentment,* Travel Cards.electronic checks, e-mail money, and electronic * Co-Branded Cards.credit card payments.Most financial institutions permit intrabanktransfers between a customer's accounts as part ofCredit CardA credit card allows you to borrow moneytheir basic transactional e-banking services.However, third-party transfers – with theirwhen making purchases. The money isn't directly heightened risk for fraud – often require additionaldebited from your bank account at the time of security safeguards in the form of additionalpurchase; instead, you are sent a bill every month for authentication and payment confirmation.7April-September-2010

e-trackBill Payment and PresentmentBill payment services permit customers toelectronically instruct their financial institution totransfer funds to a business's account at some futurespecified date. Customers can make payments on aone-time or recurring basis, with fees typicallyassessed as a “per item” or monthly charge. Inresponse to the customer's electronic paymentinstructions, the financial institution (or its billpayment provider) generates an electronictransaction –usually an automated clearinghouse(ACH) credit – or mails a paper check to thebusiness on the customer's behalf. To allow for thepossibility of a paper-based transfer, financialinstitutions typically advise customers to makepayments effective 3–7 days before the bill's duedate.Person-to-Person PaymentsElectronic person-to-person payments, alsoknown as e-mail money, permit consumers to send“money” to any person or business with an e-mailaddress. Under this scenario, a consumerelectronically instructs the person-to-personpayment service to transfer funds to anotherindividual. The payment service then sends ane-mail notifying the individual that the funds areavailable and informs him or her of the methodsavailable to access the funds including requesting acheck, transferring the funds to an account at anthe payment service, such services may be offeredby an insured financial institution, but arefrequently offered by other businesses as well.WIRELESS E-BANKINGWireless banking is a delivery channel thatcan extend the reach and enhance the convenienceof Internet banking products and services. Wirelessbanking occurs when customers access a financialinstitution's network(s) using cellular phones,pagers, and personal digital assistants (or similardevices) through telecommunication companies'wireless networks.MOBILE BANKINGMobile banking (also known as M-Banking,mbanking, SMS Banking etc.) is a term used forperforming balance checks, account transactions,payments etc. via a mobile device such as a mobilephone. Mobile banking today (2007) is most oftenperformed via SMS or the Mobile Internet but canalso use special programs called clients downloadedto the mobile device. It would be expected from themobile application to support personalization suchas :Preferred LanguageDate / Time formatAmount formatDefault transactionsStandard Beneficiary listAlertsinsured financial institution, or retransmitting theUses of Mobile Banking:funds to someone else. Person-to-person payments 1. Mini-statements and checking of accountare typically funded by credit card charges or by an historyACH transfer from the consumer's account at a 2. Alerts on account activity or passing of setfinancial institution. Since neither the payee nor the thresholdspayer in the transaction has to have an account with 3. Monitoring of term depositsApril-September-20108

e-track4. Access to loan statements5. Access to card statements6. Mutual funds / equity statements7. Insurance policy management8. Pension plan management9. Status on cheque, stop payment on cheque10. Ordering check books11. Balance checking in the account12. Recent transactions13. Due date of payment (functionality for stop,change and deleting of payments)14. PIN provision, Change of PIN and reminderover the Internet15. Blocking of (lost, stolen) cardsCORE BANKINGCore Banking Solutions is new jargonfrequently used in banking circles. The advancementin technology, especially internet and informationtechnology has led to new ways of doing business inbanking. These technologies have cut down time,working simultaneously on different issues andincreasing efficiency. The platform wherecommunication technology and informationtechnology are merged to suit core needs of bankingis known as Core Banking Solutions. Here computersoftware is developed to perform core operations ofbanking like recording of transactions, passbookmaintenance, interest calculations on loans anddeposits, customer records, balance of payments andwithdrawal are done. This software is installed atdifferent branches of bank and then interconnectedby means of communication lines like telephones,satellite, internet etcTELEPHONE BANKINGTelephone banking is a service provided by afinancial institution which allows its customers toperform transactions over the telephone. Mosttelephone banking use an automated phoneanswering system with phone keypad response orvoice recognition capability. To guarantee security,the customer must first authenticate through anumeric or verbal password or through securityquestions asked by a live representative (see below).With the obvious exception of cash withdrawals anddeposits, it offers virtually all the features of anautomated teller machine: account balanceinformation and list of latest transactions, electronicbill payments, funds transfers between a customer'saccounts, etc.Usually, customers can also speak to a liverepresentative located in a call centre or a branch,although this feature is not guaranteed to be offered24/7. In addition to the self-service transactionslisted earlier, telephone banking representatives areusually trained to do what was traditionally availableonly at the branch: loan applications, investmentpurchases and redemptions, chequebook orders,debit card replacements, change of address, etc.Banks which operate mostly or exclusively bytelephone are known as phone banks.E-BANKING RISKSTRANSACTION/OPERATIONS RISKTransaction/Operations risk arises from fraud,processing errors, system disruptions, or otherunanticipated events resulting in the institution'sinability to deliver products or services. This riskexists in each product and service offered. The level9April-September-2010

e-trackof transaction risk is affected by the structure of theinstitution's processing environment, including thetypes of services offered and the complexity of thewith the ability to market their products and servicesglobally. Internet-based advertising programs caneffectively match yield-focused investors withprocesses and supporting technology.potentially high-yielding deposits. But Internet-In most instances, e-banking activities will originated deposits have the potential to attractincrease the complexity of the institution's activities customers who focus exclusively on rates and mayand the quantity of its transaction/operations risk, provide a funding source with risk characteristicsespecially if the institution is offering innovative similar to brokered deposits. An institution canservices that have not been standardized. Since control this potential volatility and expandedcustomers expect e-banking services to be available geographic reach through its deposit contract and24 hours a day, 7 days a week, financial institutions account opening practices, which might involveshould ensure their e-banking infrastructures contain face-to-face meetings or the exchange of papersufficient capacity and redundancy to ensure reliable correspondence.service availability. Even institutions that do notconsider e-banking a critical financial service due tothe availability of alternate processing channels,COMPLIANCE/LEGAL RISKCompliance and legal issues arise out of theshould carefully consider customer expectations and rapid growth in usage of e-banking and thethe potential impact of service disruptions on differences between electronic and paper-basedcustomer satisfaction and loyalty.processes. E-banking is a new delivery channelwhere the laws and rules governing the electronicCREDIT RISKGenerally, a financial institution's credit risk isnot increased by the mere fact that a loan isoriginated through an e-banking channel. However,management should consider additional precautionswhen originating and approving loans electronically,including assuring management informationsystems effectively track the performance ofportfolios originated through e-banking channels.LIQUIDITY, INTEREST RATE, PRICE/MARKET RISKSFunding and investment-related risks couldincrease with an institution's e-banking initiativesdepending on the volatility and pricing of theacquired deposits. The Internet provides institutionsdelivery of certain financial institution products orservices may be ambiguous or still evolving.Specific regulatory and legal challenges includeUncertainty over legal jurisdictions and which state'sor country's laws over a specific e-bankingtransaction, Delivery of credit and deposit-relateddisclosures/notices as required by law or regulation,Retention of required compliance documentation foron-line advertising, applications, statements,disclosures and notices; and Establishment of legallybinding electronic agreements. Laws andregulations governing consumer transactionsrequire specific types of disclosures, notices, orrecord keeping requirements. These requirementsalso apply to e-banking.April-September-201010

STRATEGIC RISKA financial institution's board andmanagement should understand the risks associatedwith e-banking services and evaluate the resultingRISK IDENTIFICATIONe-track* Costs and availability of staff to providetechnical support for interchanges involvingmultiple operating systems, web browsers,and communication devices;risk management costs against the potential return * Competition from other e-banking providers.on investment prior to offering e-banking services.Poor e-banking planning and investment decisions REPUTATION RISKcan increase a financial institution's strategic risk. An institution's decision to offer e-bankingEarly adopters of new e-banking services can services, especially the more complex transactionalestablish themselves as innovators who anticipate services, significantly increases its level ofthe needs of their customers, but may do so by reputation risk. Some of the ways in which e-incurring higher costs and increased complexity in banking can influence an institution's reputationtheir operations. Conversely, late adopters may be includeable to avoid the higher expense and added * Loss of trust due to unauthorized activity oncomplexity, but do so at the risk of not meeting customer accounts,customer demand for additional products and* Disclosure or theft of confidential customerservices. In managing the strategic risk associatedinformation to unauthorized parties (e.g.,with e-banking services, financial institutionshackers),should develop clearly defined e-banking objectives* Failure to deliver on marketing claims,by which the institution can evaluate the success of* Failure to provide reliable service due to theits e-banking strategy. In particular, financialfrequency or duration of service disruptions,institutions should pay attention to the following:* Customer complaints about the difficulty in* Adequacy of management informationusing e-banking services and the inability ofsystems (MIS) to track e-banking usage andthe institution's help desk to resolve problems.profitability;* Costs involved in monitoring e-bankingactivities or costs involved in overseeing e-banking vendors and technology serviceproviders;* Design, delivery, and pricing of servicesadequate to generate sufficient customerdemand;* Retention of electronic loan agreements andother electronic contracts in a format that willbe admissible and enforceable in litigation;Management should have a thoroughunderstanding of the institution's IT operationsenvironment and should maintain appropriatesupporting documentation. Documentation shouldbe commensurate with the complexity of technologyoperations.Environmental surveys and assetinventories allow management to document dataflow maps, system interfaces and dependencies,business technology processes, and hardware and11April-September-2010

e-tracksoftware inventories. Management's ongoingenvironmental survey of technology operations isfundamental to enterprise risk identification,assessment, management, and monitoring.Key elements include developing and maintaining:* An inventory of all computing hardware;* An inventory of all computing software(operating systems, applications, and backoffice and environmental applications);* Network topologies or other diagrams thatdetail the internal and external connectivity ofvoice and data communication networks;publicly accessible networks.Management should review each of theprocesses discussed in this section to adapt andexpand the institution's risk management practicesas necessary to address the risks posed by e-bankingactivitiesFinancial institutions should base any decisionto implement e-banking products and services on athorough analysis of the costs and benefitsassociated with such action.services provided by other businesses linked Some of the reasons institutions offer e-from the website.RISK MANAGEMENT OF E-BANKINGACTIVITIESbanking services include* Lower operating costs,* Greater geographic diversification,* Improved or sustained competitive position,As noted in the prior section, e-banking has * Increased customer demand for services, andunique characteristics that may increase an * New revenue opportunities.institution's overall risk profile and the level of risks The individuals conducting the cost-benefitassociated with traditional financial services, analysis should clearly understand the risksparticularly strategic, operational, legal, and associated with e-banking so that cost considerationsreputation risks. These unique e-banking fully incorporate appropriate risk mitigationcharacteristics includecontrols. Without such expertise, the cost-benefit* Speed of technological change, analysis will most likely underestimate the time and* Changing customer expectations, resources needed to properly oversee e-banking* Increased visibility of publicly accessible activities, particularly the level of technical expertisenetworks (e.g., the Internet),* Less face-to-face interaction with financialinstitution customers,* Need to integrate e-banking with theinstitution's legacy computer systems,* Dependence on third parties for necessarytechnical expertise, and* Proliferation of threats and vulnerabilities inCOST-BENEFIT ANALYSIS AND RISKASSESSMENTneeded to provide competent oversight of in-houseor outsourced activities. In addition to the obviouscosts for personnel, hardware, software, andcommunications, the analysis should also considerchanges to the institution's policies, procedures, andpractices. The appropriate networking architecture,security expertise, and software tools to maintainsystem availability and to protect and respond tounauthorized access attempts and tests.April-September-201012

AUTHENTICATING E-BANKING CUSTOMERSe-banking introduces the customer as a directuser of the institution's technology. Customers haveto log on and use the institution's systems.Accordingly, the financial institution must controltheir access and educate them in their securityresponsibilities. Authentication controls play asignificant role in the internal security.Authenticating New CustomersVerifying a customer's identity, especially thatof a new customer, is an integral part of all financialservices. Procedures in the program should describehow the bank will verify the identity of the customerusing documents, non-documentary methods, or acombination of both. The procedures should reflectthe institution's account opening processes –whether face-to-face or remotely, as part of theinstitution's e-banking services. As part of its non-documentary verification methods, financialinstitutions may rely on third parties to verify theidentity of an applicant or assist in the verification.The financial institution is responsible for ensuringthat the third party uses the appropriate level ofverification procedures to confirm the customer'sidentity. New account applications submitted on-line increase the difficulty of verifying theapplication information. Many institutions choose torequire the customer to come into an office or branchAuthenticating Existing Customerse-trackLogical verification to ensure that informationprovided is logically consistent, andNegative verification to ensure that informationprovided has not previously been associated withfraudulent activity (e.g., an address previouslyassociated with a fraudulent application).In addition to the initial verification ofcustomer identities, the financial institution mustalso authenticate its customers' identities each timethey attempt to access their confidential on-lineinformation. The authentication method a financialinstitution chooses to use in a specific e-bankingapplication should be appropriate and“commercially reasonable” in light of the risks inthat application. Whether a method is acommercially reasonable system depends on anevaluation of the circumstances. Financialinstitutions should weigh the cost of theauthentication method, including technology andprocedures, against the level of protection it affordsand the value or sensitivity of the transaction or datato both the institution and the customer. Whatconstitutes a commercially reasonable system maychange over time as technology and standardsevolve. Authentication methods involve confirmingone or more of three factors:to complete the account opening process. * Something only the user should know, such asInstitutions conducting the entire account opening a password or PIN;process through the mail or on-line should consider * Something the user possesses, such as an ATMusing third-party databases to provide :-card, smart card, or token; orPositive verification to ensure that material * Something the user is, such as a biometricinformation provided by an applicant matches characteristic like a fingerprint pattern.information available from third-party sources,13April-September-2010

e-trackPassword AdministrationThe third type that is again using aDespite the concerns regarding single-factor mathematical algorithm, but the new password isauthentication, many e-banking services still rely on based on a challenge (e.g., a random number chosena customer ID and password to authenticate an by the authentication server or transaction details)existing customer. Some security professionals and a counter instead of being based on the previouscriticize passwords for a number of reasons password. Yet another type uses cell phones as anincluding the need for passwords whose strength out-of-band method for transmitting one-timeplaces the password beyond the user's ability to passwords.comply with other password policies such as not E-Banking / Internet Banking! Threatswriting the password down. Password-cracking Pharming: Pharming (pronounced farming) is asoftware and log-on scripts can frequently guess hacker's attack aiming to redirect a website's trafficpasswords regardless of the use of encryption. to another, bogus website. Pharming can bePopular acceptance of this form of authentication conducted either by changing the hosts file on arests on its ease of use and its adaptability within victim's computer or by exploitation of aexisting infrastructures.vulnerability in DNS server software. DNS serversare computers responsible for resolving InternetOTP Device –It's Importance in E-Banking names into their real addresses — they are theThe purpose of a one-time password (OTP) is "signposts" of the Internet. Compromised DNSto make it more difficult to gain unauthorized access servers are sometimes referred to as "poisoned".to restricted resources, like a computer account. In the field of computer security, phishing isTraditionally static passwords can more easily be the criminally fraudulent process of attempting toaccessed by an unauthorized intruder given enough acquire sensitive information such as usernames,attempts and time. By constantly altering the passwords and credit card details by masqueradingpassword, as is done with a one-time password, this as a trustworthy entity in an electronicrisk can be greatly reduced.communication. Communications purporting to befrom popular social web sites (YouTube, Facebook,Five types of one-time passwordsMySpace, Windows Live Messenger), auction sitesThe first type uses a mathematical algorithm to (eBay), online banks (Wells Fargo, Bank of America,generate a new password based on the previous, The Chase), online payment processors (PayPal), or ITsecond type that is based on time-synchronization Administrators (Yahoo, ISPs, corporate) arebetween the authentication server and the client commonly used to lure the unsuspecting ".providing the password. Another type uses a list ofPhishing: Phishing is typically carried out by e-mailpasswords printed on paper.or instant messaging, and it often directs users toApril-September-201014

enter details at a fake website whose look and feel aree-tracklevel of computerization may differ from banks toalmost identical to the legitimate one. Even when banks. Today, we may say that 95 per cent ofusing server authentication, it may require skill todetect that the website is fake. Phishing is anexample of social engineering techniques used tofool users, and exploits the poor usability of currentweb security technologies. Attempts to deal with thegrowing number of reported phishing incidentsinclude legislation, user training, public awareness,and technical security measure.A phishing technique was described in detail in1987, and the first recorded use of the term phishing"was made in 1996. The term is a variant of fishing,probably influenced by phreaking, and alludes tobaits used to "catch" financial information andpasswords.Conclusion:Accordingly banks presently coverperformance monitoring, decision making, controlof branches, administrative matters, submission ofstatutory returns to RBI, inter branch transactions,reconciliation of outstanding entries in variousaccounts, funds transfer, credit related information,investment management, treasury operationsthrough money market, forex market, securitiesmarket, employees personal data and scores of otheroperations with the use of IT and computers. Yet thebanking operations are computerized. The processis fast picking up even at rural branch level.For long term success, a bank may follow:•Adopting a webs mindset•Catching on the first mover's advantage•Recognising the core competencies•Ability to deal multiplicity with simplicity•Senior Management initiative to transformthe organization from inward to outwardlooking•Aligning roles and value propositions withthe customer segments•Redesigning optimal channel portfolio•Acquiring new capabilities through strategicalliances.The challenge for the banking industry lies increating the right atmosphere and providingthe right incentives for consumers to usepersonal computers regularly for banking, andin making sure that they provide attractive andaffordable services.Author is Reader, Department ofBanking Technology, Pondicherry UniversityAppeal: As a part of our drive to make the contents of Journal more pertinent and germane tothe readers we welcome articles on latest topics of Banking / Information Technology. Articlesmay be of about 1000 words. Published articles are suitably remunerated15April-September-2010

e-trackE-BANKING : EMERGING STRATEGYFOR ORGANIC GROWTH AND RURAL SPACE-Dr S N GhosalIn India banks are increasingly experiencingnot only the heat of competition and exoticinstruments and services sourced from global banksbut also the need for strategic change to enlargespace and advocacy of customers both existing andpotential. It is true of late banks have starteddeveloping innovative strategies to counter suchcompetition and also to have more space to work andgrow both organically as well as inorganically. It ishowever interesting to note that despite such effortsbanks in India have not been able to provide access toquite a large section of not only rural and semi-urbanpopulation but also in urban areas. This is largelybecause of the brick and mortar strategy stillfollowed by banks to reach customers despite therevolution in information technology and itspotentiality to reach customers even in far flungareas without creating any physical structure toreach customers and cater to their demands. It is truethat branch banking was encouraged both by policymakers as well as regulators particularly in rural andsemi-urban areas but inadequate infrastructure anddifficulty in accessibility obviously createdbottleneck in adopting the strategy vigorously andwith passion and dedication.Policy CompulsionsHowever due to policy compulsion goodnumber of rural branches were established by publicsector banks with the desire to develop relationshipwith farmers and artisans. It was also rightly realizedthat such branches should havean extension officer to visitfarmers and artisans to makethem aware of bankingfacilities and to help them inprocuring seeds and fertilizersand also in marketing theirproducts or keeping their products in warehousespromoted or financed by banks in nearby areas tofacilitate farmers to hold their grains and vegetablesfor a short period to fetch higher prices from themarket. This however could not reach all types offrames and artisans and helped more to develop acreamy layer of farmers and artisans in villagesinstead of developing and encouraging larger andpoorer section of villagers to develop viable farmingand or occupation like weaving etc.,to havesustainable occupation in their own village. Theenthusiasm further dried up with the increasing loadof non performing assets arising due to the failure ofthe government and political and economicinstitutions developed by them to transform farmsand firms as a viable and sustainable occupation.Evolution of Information TechnologyIndeed the recent revolution in informationtechnology (I.T.) has opened up greateropportunities for banks to be accessible to near anddear only but also to people residing in far flungareas where pent up demand for banking facilitieshave remained unsatisfied for long period and forApril-September-201016

e-trackthat reason indigenous bankers like moneylenders in rural areas. The need is passion and focus as therehave fully exploited them to their hearts content. is no dearth of capital for such investments in banks.However this can be arrested if banks and financialinstitutions increasingly adopt the strategy of takingfull advantage of information technology and getShift from Brick Mortar ModelIt has therefore become imperative for allmore and more appropriate software and hardware banks desiring to reach rural areas to shift fromfacilities to develop core banking and e-banking. In brick-mortar model to customer centric modelfact an aggressive infusion of information through information technology. This has becometechnology by some of the banks in India has already possible with increasing popularity of P.C.s andbrought in a paradigm change both in strategy and mobile phones even in rural areas and that too havingoperation and has made them an enviable entity in easy access to middle and lower middle class people.the banking community. Such examples have The increasing number of cyber café in semi-urbancreated increasing interest in all banks to develop and affluent villages have made many people awareappropriately with the help of information of the facility and becoming more and moretechnology to reach as many people and in as many interested to learn and use it. In these marketingareas as is feasible and thereby increasing the efforts of mobile phones particularly is laudable. It isbusiness space and advocacy of customers both interesting to see the small pet of Vodaphonepresent and potential. It has now been increasingly hanging around with helping hand to all and sundry.realized by both policy makers and regulators that In fact revolution in information technology hasbanks should more and more take advantage of brought out revolution in banking strategy andinformation technology to reach the common man operation. It has enabled banks to provide any timeand to provide banking facilities in far flung areas by any where banking services and also graduallydeveloping customer friendly services and developing internet banking, web-banking, andinstruments through mobile phone and internet telephony banking both with mobile and landlineaccess. It is true that initial investment to acquire phones wherever these are reachable to people.such technology may be heavy but it has becomeimperative as without this it would be almostimpossible to provide banking facilities to ruralRole of Reserve Bank of IndiaIt would be worthwhile to note that in thispeople who have been neglected for a long period development Reserve Bank of India has also playedand also exploited by village moneylender and a very vital role as the bank lost no time to assess themerchants. In any case it has been now increasingly potentiality and the strategy to be adopted forrealized that such high capital expenditure shall be implementation by banks as fast as possible. In facthighly remunerative and will pay back within two successive committees were appointed toreasonable period by developing rewarding business examine the feasibility of adopting this and also17April-September-2010

e-trackidentify the areas where this technology could be adopted without any undue strain and stress to beencountered by banks. These committees gave detailed guidelines to introduce the technology in areas offund transfer and internet banking as well as ATM facilities. Accordingly the government of India also cameout with Information Technology Act to provide credence and security support to application of suchtechnology by institutions and individuals. Reserve Bank of India also came out with clear guidelines oninternet banking, electronic clearing, centralized fund management, structured financial messaging solutionand also provided the financial network facilities through INFINET developed by them and also madeavailable real time gross settlement called RTGS. All these enabled banks to quicken money transfer andsettlement quickly and that too with less cost. All these are laudable efforts but somehow the importance tospread banking to rural areas through telephony technology was not given due importance. But of late thisalso is coming to limelight because of increasing pressure of rural pent up demands for appropriate bankingfacilities.Rural Lending by Other InstitutionsIt is a fact that considerable attention have been given to develop appropriate institutions to cater torural demands. However most of these institutions like cooperative, rural banks failed to reach the poorersection of rural farmers and artisans for one reason or the other.Source : Evolving Models of SuccessBy Jennifer Isem, CGAP and David Porteous, Consultant. Link www.RationaleBusinessdecisionMandated bygovernmentConsideringMicrofinanceKey ConsiderationBusiness GoalsCompetitionRegulatoryEnvironmentMarket SizeExistinginfrastructure andsystemsOther factorsProvideservicesdirectlyWorkthroughexistingprovidersApproachInternal UnitSpecializedFinancialInstitutionServiceCompanyOutsourceRetailOperationsCommercialLoana to MFIsProvideInfrastructureand SystemsSelectedExamplesAg BankMangoliaFinadevBeninSogesolHaitiICICI BankIndiaBank ofAfricaGaranti BankTurkeyApril-September-201018

Appropriate Model for Rural Lending under e-bankinge-trackIt would therefore be necessary to develop suitable model for internet banking to reach farmers andartisans in rural areas with easy accessibility and facile operation facility. The Model that could be evolvedbased on following:1. Kiosks to be developed on franchise basis to provide the facilities of internet and telephone and toimpart training to some enlightened villagers' preferably young boys and girls having some educationalbackground;2. It should be manned by some young villager or small group of villagers who have the necessarybackground on farming marketing and such other areas that are considered essential for guidingfarmers and artisans;3. It may be equipped with automatic teller machine newly developed to help undertaking minimumfunctions like drawing and depositing money and seeking information etc.,4. It should be empowered issue biometric card for farmers and artisans of the village to enable them toavail fund facility;5. It should provide online banking facilities to farmers and artisans with the assistance of kiosk manager;and6. It may have software facilities as developed by IBM and Financial Net working Operation or similarsoftware vendors having similar or even better software to facilitate banking operation.FLOW CHART FOR E- BANKINGBankVillage kiosksVillage kiosksVillage kiosksFarmingintelligenceMarketingintelligenceManagementinputsE-BankingAuthor is :Adjunct Faculty,ICFAI Kolkatta19April-September-2010

e-trackSAFETY MEASURES AGAINST CYBER CRIMESLife is about a mix of good and evil. So is theInternet, for all the good it does us, Internet has itsdark sides too. Unlike conventional communitiesthough, there are no policemen patrolling theinformation superhighway, leaving it open toeverything from Trojan horses and viruses to cyberstalking, trademark counterfeiting and cyberterrorism. Given the unrestricted number of freeWeb sites, the Internet is undeniably open toexploitation. “Cyber” refers to imaginary space,which is created when the electronic devicescommunicate, like network of computers. Cybercrime refers to anything done in the cyber space witha criminal intent. These could be either the criminalactivities in the conventional sense or could beactivities, newly evolved with the growth of the newmedium. Cyber crime includes acts such as hacking,uploading obscene content on the Internet, sendingobscene e-mails and hacking into a person's e-banking account to withdraw money. In general wecan say that “Any criminal activity that uses acomputer either as an instrumentality, target or ameans for perpetuating further crimes comes withinthe ambit of cyber crime”.Laws Governing Cyber Crimes in IndiaIndian Parliament passed the InformationTechnology Bill on 17th May 2000 which is knownas the Information Technology Act, 2000. It talksabout the Cyber laws and forms the legal frameworkfor electronic records and other activities done byelectronic means/ways.Offences under IT actTampering with computer source documentsWhoever knowingly or intentionally conceals,destroys or alters orintentionally or knowinglycauses another to conceal,destroy or alter any computersource code used for ac o m p u t e r , c o m p u t e rprogramme, computersystem or computer network, when the computersource code is required to be kept or maintained bylaw for the time being in force, shall be punishablewith imprisonment up to three years, or with finewhich may extend up to two lakh rupees, or withboth.Hacking with computer system- Archana SahaiWhoever with the intent to cause or knowingthat he is likely to cause wrongful loss or damage tothe public or any person destroys or deletes or altersany information residing in a computer resource ordiminishes its value or utility or affects it injuriouslyby any means, commits hack.Publishing of information which is obscene inelectronic formWhoever publishes or transmits or causes to bepublished in the electronic form, any material whichis lascivious or appeals to the prurient interest or if itseffect is such as to tend to deprave and corruptpersons who are likely, having regard to all relevantcircumstances, to read, see or hear the mattercontained or embodied in it, shall be punished onfirst conviction with imprisonment of eitherdescription for a term which may extend to five yearsand with fine which may extend to one lakh rupeesand in the event of a second or subsequent convictionwith imprisonment of either description for a termApril-September-201020

which may extend to ten years and also with finewhich may extend to two lakh rupees.Example of some of the reported cyber crimesare:•Cyber murdere-tracktrade in gold and make illegal pots of money.•ForgerySites that teach students how to use high-enddrum scanners for creating look-alike certificatesusing Microsoft word!A hacker breaks into hospital medical recordsand maliciously alters prescriptions. Say, if a patientTo smoke out cyber criminalsIt is virtually impossible. Just like it is unfair tois allergic to penicillin, the hacker adds 500 mg of expect the police to halt these conventional crimes,penicillin to his usual dose of medication. The nurse similarly it is impossible to curb it as is not practical.administers the drug causing immediate death. For But some steps could be taken to regulate. I am sureexample one mafia don was shot by his rivals in that 99 per cent of people by and large think that e-America, he did not die of bullets but he was injured mail address cannot be traced but if they come toand admitted to hospital. Now his enemy group know that almost all the cases no matter what wronghacked into hospital computer, changed the name they give, what E-mail address thy open, theyprescription of the medical and included the can still be traced then the crime rate will fall. It ismedicines to which he was allergic. Nurse gave him just a matter of education. Every e-mail leavesthe medicine and the person died.behind a trace leading back to its point of origin in•Misuse of Internet by terroriststhe form of an e-mail header. To view the header allTerrorists can play havoc by using a one need to do is to press 'options' button and then gotechnology called steganography. Terrorists like to 'preferences'. This will throw up two boxes whereOsama bin Laden routinely communicate with their one can view your e-mail in full, complete with theglobal cronies by encrypting messages into image IP addresses. The IP address, usually a number likefiles, accessible to only to those with the password. 120.12.111, can be traced to BSNL. But only theTherefore, that 36-24-36 bimbo you last saw on a police have the authority to trace back the route ofsite or that picture of Aishwarya Rai you the message beyond this point right up to thedownloaded from the net might actually have doorstep of the offending subscriber.contained a devastating message in codes. There are Newspapers and magazines have major role toover 50 sites which give you the recipe for making play in curbing, educating public on cyber crimes.RDX bombs.Then, the fear could be created in the minds of thecriminals that they cannot go scot free and they can•Drug dealingbe nabbed. Once these criminals realize that theirNarcotic drugs are sold on auction sites understates and cities can trace them, lot of fear would beinnocuous-sounding names. It can be 50 grams ofinstilled and automatically cyber crime would climbhoney for 50 grams of cocaine.down. To make the cyber space more secure some•Money launderingsecurity measures must be followed by all type ofE-gold site where hawala transactions are users.done in broad daylight. You are given tips of how to21April-September-2010

e-trackGeneral Guidelines on Cyber SafetyDo not give out identifying information suchas your name, home address, or telephonenumber in a chat room. Even vital details likeage, gender should never be divulged toanyone.Do not send your photograph to any one on thenet unless you know the person well enough.Do not respond to messages or bulletin boarditems that are obscene, belligerent orthreatening.Never arrange a face-to-face meeting withsomeone who you have just 'met' on theInternet. In case you have to meet this person,make sure you have someone with you for themeeting. And inform someone of the personand place you will be going to. Remember,people online are not always who they seem tobe.Check out the site you are doing business withthoroughly. Send credit card information onlyto secure sites.Use a security program that gives you controlover cookies that send information back toWeb sites. Letting all cookies in withoutmonitoring them could be risky.If you own a Web site, watch traffic and puthost-based intrusion detection devices on yourservers. Monitor activity and look for anyirregularities.Put in a firewall and develop your content offline.Make sure web servers running your publicsite are physically separate and individuallyprotected from your internal corporatenetwork.Protect your databases. If your Web site servesup dynamic content from a database, considerApril-September-201022putting that database behind a secondinterface on your firewall, with tighter accessrules than the interface to your server.Back up your Web site after every update, soyou can re-launch it immediately in case of amalicious defacement.Email SafetyIf you ever get an email containing anembedded link, and a request for you to enter secretdetails, treat it as suspicious. Do not input anysensitive information that might help provide accessto your bank accounts, even if the page appearslegitimate. No reputable company ever sends emailsof this type.Virus WarningsVirus warnings are a very common occurrencein the mail box. While you shouldn't take thesewarnings lightly, a lot of times, such warnings arehoaxes and will do more harm than good. Alwayscheck the story out by visiting an anti-virus site suchas McAfee, Sophos or Symantec before taking anyaction, including forwarding them to friends andcolleagues.The IT Act 2000, the cyber law of IndiaThe IT Act 2000 gives the legal framework sothat information is not denied legal effect, validity orenforceability, solely on the ground that it is in theform of electronic records.The overview of the Indian Cyber law1. The E-commerce industry carries out itsbusiness via transactions and communicationsdone through electronic records. It thusbecomes essential that such transactions bemade legal. Keeping this point in the

e-trackconsideration, the IT Act 2000 empowers the the form of monetary damages, not exceedinggovernment departments to accept filing, Rs. 1 crore($200,000).creating and retention of official documents in 7. Also the law sets up the Territorial Jurisdictionthe digital format. The Act also puts forward of the Adjudicating Officers for cyber crimesthe proposal for setting up the legal framework and the Cyber Regulations Appellate Tribunal.essential for the authentication and origin of 8. The law has also laid guidelines for providingelectronic records / communications through Internet Services on a license on a nondigitalsignature.exclusive basis.2. The Act legalizes the e-mail and gives it the However, it is true that in India, cyber crime isstatus of being valid form of carrying out not reported too much about. Consequently there is acommunication in India . This implies that e- false sense of complacency that cyber crime does notmails can be duly produced and approved in a exist and that society is safe from cyber crime. Thiscourt of law, thus can be a regarded as is not the correct picture. The fact is that people insubstantial document to carry out legal our country do not report cyber crimes for manyproceedings.reasons. Many do not want to face harassment by the3. The act also talks about digital signatures and police. There is also the fear of bad publicity in thedigital records. These have been also awarded media, which could hurt their reputation andthe status of being legal and valid means that standing in society. A recent survey indicates that forcan form strong basis for launching litigation every 500 cyber crime incidents that take place, onlyin a court of law. It invites the corporate 50 are reported to the police and out of that only onecompanies in the business of being Certifying is actually registered. These figures indicate howAuthorities for issuing secure Digital difficult it is to convince the police to register a cyberSignatures Certificates.crime. The establishment of cyber crime cells in4. The Act now allows Government to issue different parts of the country was expected to boostnotification on the web thus heralding e- cyber crime reporting and prosecution.governance.Police in India are trying to become cyber crime5. It eases the task of companies of the filing any savvy and hiring people who are trained in the area.form, application or document by laying down Many police stations in Delhi have computers whichthe guidelines to be submitted at any will be soon connected to the Head Quarters. Cyberappropriate office, authority, body or agency Police Stations are functioning in major Cities allowned or controlled by the government. This over the Country. The pace of the investigations canwill help in saving costs, time and manpower become faster; judicial sensitivity and knowledgefor the corporates.need to improve. Focus needs to be on educating the6. The act also provides statutory remedy to the police and district judiciary. IT Institutions are alsocoporates in case the crime against the accused playing a role in this area.for breaking into their computer systems ornetwork and damaging and copying the data isAuthor is Sr. Lecturer at Amity Institute ofInformation Technology,Amity University,proven. The remedy provided by the Act is in Lucknow campus. She can be contacted at :asahai@amity.edu23April-September-2010

e-trackCLOUD COMPUTING AND BANKING-Brijesh KhandelwalCloud Computing – An IntroductionCloud computing is Internet-basedcomputing, whereby shared resources, software andinformation, are provided to computers and otherdevices on-demand, like the electricity grid. It is aparadigm shift following the shift from mainframeto client–server that preceded it in the early 1980s.Details are abstracted from the users who no longerhave need of expertise in, or control over thetechnology infrastructure "in the cloud" thatsupports them. Cloud computing describes a newsupplement, consumption and delivery model for ITservices based on the Internet, and it typicallyinvolves the provision of dynamically scalable andoften resources as a service over the Internet. It is abyproduct and consequence of the ease-of-access toremote computing sites provided by the Internet.The term "cloud" is used as a metaphor for theInternet, based on the cloud drawing used in the pastto represent the telephone network, and later todepict the Internet in computer network diagrams asan abstraction of the underlying infrastructure itrepresents. Typical cloud computing providersdeliver common business applications online whichare accessed from another web service or softwarelike a web browser while the end data are stored onservers.Cloud computing is a resource delivery andusage model. It means get resource (Hardware,Software) via network. The network providingresource is called as 'Cloud'. The hardware resourcein the 'Cloud' seems scalable infinitely and can beused whenever required. Newadvances in processors,virtualization technology,distributed storage, broadbandinternet access, automatedm a n a g e m e n t , a n d f a s tinexpensive servers have allcombined to make to make cloud computing acompelling paradigm.The goal of cloud computing is to provideeasy, scalable access to computing resources and ITservices. Cloud computing users gain somesignificant economic advantages. They have nocapital expenses. They have reduced service costsbecause of a simplified IT infrastructure. They donot have to buy systems scaled to their worst case usescenarios, and there is a reduction in large clientapplications. The primary disadvantages are therisks associated with Internet reliability, security andaccess of data, and the financial stability of theservice provider.Cloud Computing – Why?The application area of cloud computing areunlimited. A cloud computing system can worksimilarly to a normal computer with the rightmiddleware. Potentially, everything from genericword processing software to customized computerprograms designed for a specific company couldwork on a cloud computing system.Vendors offer (typically non relational)database storage with proprietary query languages toApril-September-201024

e-trackretrieve and manipulate data. Typically, DaaS(Database as a Service) uses a multi-tenantarchitecture, where the data of many users is kept inthe same physical database or table. This servicereduces the cost of the applications for theorganizations. Organizations need not to buyexpensive databases to keep their data for anapplication.3. Software as a serviceThe service provides an application which ishosted by a provider and accessible by the web. Thispresents user organizations with cost advantages andsimplicity particularly in installation andmaintenance. Several providers, for example,Microsoft Azure Services, provide softwaredevelopment and operation facilities within the SaaS(Software as a Service) framework.Cloud computing for banksAny system where there is a central server andpeople log on to do transactions can be called a"cloud". In banks, it is not only you and me, but thedifferent branches of each bank also log-on to thecommon server to transact their inter-branchreconciliation services. This may be called a"private-cloud", a type of a cloud. Same thing whenwe login to our company server to transact business;it is cloud again.Increasing competition in the bankingindustry also poses a pressure to have someinnovative and specialized business models. Cloudcomputing is newer buzz in the IT industry and itpromises to provide banks a competitive advantagein the market. It also reduces the cost at the other endalong with other benefits like higher margins,simplified maintenance and management ofapplications across the enterprise, greatly extendedscalability, agility, high availability, automation,large data storages and reliable backup mechanisms.By using cloud computing environments,banks can focus on their core business as opposed toconcerning themselves about infrastructurescalability. Banks may explore use of cloudcomputing initially for better performance throughpeak demand periods but eventually adoption couldspread to other areas.Banks have been doing cloud computing fordecades in some areas. For example, in case of cardpayment infrastructure we can make payment or getcash from almost any ATM with a credit/ debit card.Money transfers via Swift and other local protocolsin some countries are other examples. They areprivate clouds indeed. There are basically tworeasons why banks have not gone after public cloudservices: lack of true confidentiality and lack of dataownership assurance.From a potential point of view, benefits forbanks from cloud computing can be accrued,primarily, in almost every business areas like -Business Process Management (BPM), BusinessIntelligence (BI) , Enterprise content management,Back-office activities, Enterprise risk management,Enterprise CRM etc.Challenges of Cloud Computing for the BanksFor the banks the critical issue is the securityof the data. Putting the data on the public cloudenvironment may pose threats to the crucial data.When banks start using public cloud computing25April-September-2010

e-trackenvironments, they must move their critical data andsystems on to the cloud. Securing this data is crucialand a clear priority for the bank. Solution vendorsneed to concentrate on this aspect particularly toconvincingly build the case for enterprises to moveon to the cloud. The above mentioned benefitsclearly conclude that there are major advantages ofCloud Computing in the baking sector along withfew challenges as well. The challenges are asfollows -Clearly security will be raised as a concernaround cloud computing for many years tocome. There is still some work to be donebefore more formalized standards are in place.Organizations like the 'Cloud SecurityAlliance' are at the forefront of addressingthese issues.Data in a cloud computing environment has toexist on physical servers somewhere in theworld and the physical location of thoseservers is important under many nations' laws.This is especially important for companiesthat do business across national boundaries, asdifferent privacy and data management lawsapply in different countries.A concern for many organizations is that cloudcomputing relies on the availability, qualityand performance of their internet connection.Dependency on an internet connection raisessome key questions:What happens if we lose our internetconnection?How long can we run our business?One of the most common concerns regardingcloud computing is the potential for downtime,if the system is not available for use. ThisApril-September-201026is a critical issue for line-of-businessapplications, as every minute of downtime is aminute that some important business functioncan't be performed. Every minute of down-time can not only affect revenue but can alsocause reputation damage.True confidentiality is needed to comply withstrict regulations. Traditional securitysolutions (most at infrastructure level), such aschannel and at-rest data encryption are simplynot enough. We must ensure that noadministrator will be able to access ourinformation.Regarding data ownership, encrypting at datalevel would also render many internationallaws useless against the data. How wouldanyone know if a policy applies or not to ourdata to decide retention of it? Retention in anycase would not hurt, provided we havedistributed backups of the data that wetransmit/store/process in the cloud.Moving an existing application to a cloudplatform is not as easy as it might first appear.Different cloud providers impose differentapplication architectures which are invariablydissimilar to architectures of enterpriseapplications. So, for a complex multi tierapplication that depends on internal databasesand that serves thousands of users with ever-changing access rights, it is not going to be aneasy switch-over to a cloud platform.Conclusion:This study is not definitive statement about theuse of Cloud computing in banking. In fact, Cloudcomputing brings new promises in the IT industry

e-trackThe book “You Don't Need an MBA to MakeMillions' is written by Tim Moore , who shares hissecrets for starting and building a successfulbusiness. According to him “The road toentrepreneurship has few twists and turns and everylife experience teaches us a lesson – even unpleasantexperiences or tough times have value,”. The authoremphasizes that every one can achieve their dream.All we have to do is work hard and not lose faith inourself and must have optimistic and positiveoutlook on life.. You Don't Need an MBA to MakeMillions is a true self-help book, deserving of closeattention and loyalty.In this book, the author provides practical advice onhow to start and run a successful business. This bookis organized in the following chapters:Forks in the Road;Midnight Driver;Entrepreneurs ….Born or Made;Breaking new ground;Expanding your Horizons;War Stories;The Partners Playboy;You are your own Talent Scout;Leading the troups to the top of the mountain;Think outside the box;Don't pull your eggs in one basket;Women in Power;Lesson learned the hard way;Did you find the Joy andFifty tips for the successful entrepreneur .In this book the author from his personalexperience gives pertinent answers to the questionsBOOK REVIEWYou Don't Need an MBA to Make MillionsSecrets of a Serial EntrepreneurAuthor: Tim Moore with Carol Davis and Allan GoldPublisher: Good Times Book Pvt Ltd, New DelhiISBN: 819095959-X, Price – Rs 250like : Do you want to be an entrepreneur, but areafraid to try because you didn't go to businessschool? This book is full of interesting candidanecdotes, wise insights, real-world examples andpractical tips. “This book provides a down-to-earthview of life as an entrepreneur. The advice offered isbased on real life experiences. The author provesthat there's no magical formula to business success.Plain old-fashioned hard work, tenacity,imagination, common sense, attention to people anda no-holds-barred desire to succeed are ingredientsto the winning recipe”. Anyone with anentrepreneurial bent of mind will enjoy reading thisbook.-Sanjay SrivastavaApril-September-201028

e-trackFINANCIAL / TECHNICAL NEWS-Extracts from websitesCompanies must file I-T returns electronicallywith digital signatureThe Central Board of Direct Taxes (CBDT)USA ranked the most targeted country with the rateof 1.6 incidents per PC. In a surprising revelation,China is only in the seventh place despite having thehas made it mandatory for all companies to file their biggest number of PCs after the United States.income tax returns electronically in Form No. ITR- It was commented that "The reasons for the6, with digital signature. Earlier, companies could difference in number of attempted attacks perfile their electronic returns with or without digital country could comprise many things - this rangessignature.from the overall Internet speeds in a country andFurther, all individuals and Hindu how proactive the ISPs are in protecting their clientsUndivided Families (HUFs), who are required to get to general user education on security. The ratio oftheir accounts audited under section 44AB of the I-T Windows, Mac and Linux users in a country willAct 1961, are now required to file their tax returns in also make a big difference. Overall, the study showsForm No. ITR-4 electronically, with or without that not only are organizations and individualsdigital signature. Earlier, this condition was putting themselves at risk by not securing them, butapplicable only to companies and partnership firms. they are actually providing cyber criminals with aAccounts are required to be audited underplatform to compromise other computers."the law, if turnover or gross receipts from business(Source : www.silicon india.com)exceeds Rs. 40 lakh (Rs. 60 lakh from assessment Smart cars with black boxesyear 2011-12 onwards), or if turnover or gross Computer scientists in the U.S. arereceipts from profession exceeds Rs. 10 lakh (Rs. 15 developing technology that will transform cars intolakh from assessment year 2011-12 onwards). intelligent vehicles fitted with aircraft-style black(Source : www.thehindu.com) boxes that can record information about drivingIndia tops list of most cyber secure nationsSecureWorks, an information securitybehavior during accidents.The car, which is being developed by researchers atservice provider, collected data on cyber attacks computer chip giant Intel, will record informationattempted against its customers from January 2010 about the vehicle speed, steering and braking alongto July 2010. It then broke down the numbers by IP with video footage from inside and outside theaddress origin and factored in the estimated number vehicle.of PCs for each country to reveal some interesting This would be automatically sent to policeresults. The study only took the top 16 countries, by and insurance companies in the event of an accidentnumber of PCs into consideration.to make it easier to determine the cause of carWhile India being the safest digital country crashes and identify the person responsible.in the world with a mere 52 attacks per 1,000 PCs, The device forms part of an intelligent car29April-September-2010

e-trackenvisaged by researchers at Intel. They are electricity. All one has to do is just keep the phone indeveloping technology that will transform cars into Sun light, thanks to the new Samsung Guru E1107,smart vehicles that are able to detect dangers on the which allows charging of mobile battery throughroad and even take over control from motorists. Solar power.Camera systems that can recognize streetsigns and then take over control of a car if themotorist tries to drive the wrong way up a one-waystreet, for example, are being developed for use invehicles.On board sensors will also be able to detectpot holes in the road and report their location to roadmaintenance authorities as the car is moving.The cars will also be able to track thelocation of surrounding vehicles and alert drivers ifthey get too close or try to change lanes whenanother vehicle is in their blind spot.The technology was revealed at a researchshowcase by Intel in Santa Clara, California.(Source: www.siliconindia.com)Samsung unveils Solar powered mobile phone inIndiaNow one has not to worry if the mobilebattery is drained or if there is no access toSamsung has recently launched the world'sfirst solar powered mobile phone in the Indianmarket. The new handset has the capacity to provideabout 5 to 10 minutes of talk time with 1 hour of solarcharge. The company claims that the battery canattain full power with about 40 hours of solarcharging.Other features include FM radio, MP3 ringtones, embedded games and torch light. The phonealso offers Mobile Tracker, which automaticallyalerts users in case the phone's SIM card is replacedor sends out an SOS message in an emergency. TheSolar Guru also offers "Mobile prayer", aspecialized feature for different religions thatincludes religious prayers and wall papers.(Source : www.siliconindia.com)TCS to introduce cloud computing for SMBsBangalore: As an attempt to make theinformation technology services affordable for theSMBs(small and medium businesses) in the country,India's leading IT company TCS is set to launch anew project, a cloud offering.This cloud service aims to lower the cost ofownership by 35-40 percent. The traditionallicensing model will be replaced by a monthlysubscription model. The IT stack includes hardware,networking and software. New customers will belocked in for three years. TCS plans to focus on thedomestic market with this offering first and thenlater expand to overseas markets too.Cloud computing is Internet-basedApril-September-201030

e-trackcomputing, whereby shared resources, software,and information are provided to computers and otherdevices on demand. Cloud computing describes anew supplement, consumption, and delivery modelfor IT services based on the Internet, and it typicallyinvolves over-the-Internet provision of dynamicallyscalable and often virtualized resources.The service is expected to be a major growthengine for TCS. It can revolutionize the way IndianSMBs do their businesses providing them the sameIT infrastructure which they could otherwise notafford.(Source : www.siliconindia.com)SEBI proposes to double retail investment limitto Rs. 2 lakhMarket regulator SEBI has proposed todouble the investment limit for retail investors toRs. 2 lakh in public issues, a move that will enableindividuals to aggressively participate in primaryissues of companies.The technology being used by the chip is called'probability processing'.Lyric has designed its LEC chips specifically withnew gates, architecture and language dedicated toprocessing probabilities. The LEC components aresaid to perform the same basic function as currenterror-correction chips, necessary for flash memory,but with a form-factor 30 times smaller than currentalternatives.The added advantage, apart from the smallform, is that these chips also provide a substantialincrease in power efficiency.The mass production of these chips wouldstart in the next 12 months, Lyric informed.(Source : www.siliconindia.com)Giving justification for its proposal, SEBIsaid the limit for retail investors needed to beenhanced in view of the increase in inflation ratefrom 4 percent in 2005 to around 12 percentcurrently and rise in the BSE Sensex from 8,000points to about 18,000 points during the sameperiod.(Source : www.siliconindia.comNew chip to filter spam and shrink flash memoryLyric Semiconductor has designed a newchip that claims to shrink flash memory and offernew methods for spam filtering and other processes.Notification : The issues for April-June & July-September of e-track have been combined in this special edition.31April-September-2010

we-trackiatkc uS'kuy cSadlpuk izkS|ksfxdh laLFkkufoHkwfr [k.M] xkserh uxj] y[kumG & 226 010 ¼;w-ih-½-----cSafdax] foÙk ,oa chek {ks= esa lwpuk izkS|ksfxdh dk vxz.kh laLFkkuVibhuti Khand, Gomti Nagar, Lucknow- 226 010 (U.P.)..... a premier institute of information technology in the area of banking, finance & insurancePh: 0522-2721174, 2721442, Fax: 0522-2721201Website: www.pnbiit.com, e-mail-: bankingtech@pnbiit.comADVANCED DIPLOMA IN BANKING TECHNOLOGY - FOURTH BATCHEstablished in 2002, PNBIIT is an independent & Telecommunication, IT) with minimum 60%society set up by Punjab National Bank and marks.registered under Societies Registration Act to AGE: Not be more than 25 years as on 01.11.2010promote training and education in BFI sector withPLACEMENT RECORD:focus on IT.Previous three batches of ADBT successfully placedin organizations like Punjab National Bank,OBJECTIVES:With the evolution of CBS in Banks there is a dearth Dena Bank, National Payment Corporation of India,of qualified IT professionals with twin skills of ICICI Bank, Onward technologies Ltd.,Banking and IT. To bridge this gap PNBIIT offers Nelito, Nurture Software Ltd., Alchemist (HP)Advanced Diploma in Banking Technology aimed and Hindustan Co-operative Bank Ltd etc.at creating a well equipped pool of techno-bankers (Disclaimer: Institute does not guarantee 100%for Banking and IT sector.placement.)PROGRAMME AT A GLANCE:Curriculum includes banking, industryrelevant IT and soft skillsSix months full time courseExperienced in house and guest facultyOn site exposure at Branch/ Data CentreStrong industrial linkagesELIGIBILITY:MCA/ BE/ B.Tech (Computer Science, ElectronicsGENERAL INSTRUCTIONS:The detailed information booklet and applicationform may be downloaded from Institute's websitewww.pnbiit.com. Completed Application Formalong with Demand Draft of ` 1000/- favouring“PNBIIT a/c ADBT” payable at Lucknow shouldreach PNBIIT at the address given above latest byth7 of Oct. 2010.PROGRAMME COORDINATOR (ADBT-IV)April-September-201032

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