BCM Challenges in Indian Banking Industry - DRI-India

Recommendations

Info

RTGS & NEFT• NEFT is an electronic fund transfer system that operates on aDeferred Net Settlement (DNS) basis which settles transactions inbatches. In DNS, the settlement takes place with all transactionsreceived till the particular cut-off time. These transactions are netted(payable and receivables) in NEFT whereas in RTGS thetransactions are settled individually. For example, currently, NEFToperates in hourly batches - there are eleven settlements from 9 amto 7 pm on week days and five settlements from 9 am to 1 pm onSaturdays. Any transaction initiated after a designated settlementtime would have to wait till the next designated settlement timeContrary to this, in the RTGS transactions are processedcontinuously throughout the RTGS business hours• Both the remitting and receiving must have core banking in place toenter into RTGS transactions. Core Banking enabled banks andbranches are assigned an Indian financial system code (IFSC) forRTGS and NEFT purposes.© 2012, www.periculum.in Internal20
RTGS & NEFTPayment & Settlement• India’s RTGS & NEFT are like any global financial system has a set ofinterlinked networks of markets, systems, and participants.• Such a system should be resilient enough to withstand disruptions aspotential impact of a major operational disruption may incapacitate thefinancial system.• A holistic recovery plan incorporating all networked components and entitiesis a must for NEFT . Its testing should be carried out in a stringent manner soit gives a high level of continuity assurance• In a networked environment, security is as strong as the weakest link• SWIFT - Society for Worldwide Interbank Financial Telecommunication :Company HQ in Brussels, Belgium. Provides secure messaging services andinterface software to wholesale financial entities. Demands cross-bordercoordination with connected financial entities. Robust and Resilient IT Infra.© 2012, www.periculum.in Internal21
Page 1: BCM - Challenges in IndianBanking I
Page 6 and 7: High Level Principles of BCBasel- I
Page 8: BCM Challenges in Indian Banking In
Page 11 and 12: BCM Challenges in Indian Banking In
Page 13 and 14: Core Banking System• Gartner defi
Page 15 and 16: Recovery Plan Considerations for Co
Page 17 and 18: CPSSPayment & Settlement• Committ
Page 19: RTGS• The acronym 'RTGS' stands f
Page 23 and 24: ATMs• Automated Teller Machine is
Page 25 and 26: Key HR Recovery Challenge for Banks
Page 27 and 28: Managing ContinuityOutsourced Funct
Page 29 and 30: BC Challenges - Testing of BC Plans
Page 31 and 32: Major Challenge - Embedding BC Cult
Page 33 and 34: Embedding BC CultureTraining & Awar
Page 35 and 36: Summary of Key Challenges• Approa
Page 37: Thank YouFor feedback/suggestions :

BCM Challenges in Indian Banking Industry - DRI-India

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?