The Indian Internet Banking Journey
|
|
ICMR HOME | Case Studies Collection
Case Details:
Case Code : ITSY003
Case Length : 08 Pages
Period : 1990-2002
Pub Date : 2002
Teaching Note :Not Available
Organization : Reserve Bank of India, ICICI, HDFC, IDBI, etc.
Industry : Banking
Countries : India
To download The Indian Internet Banking Journey case study
(Case Code: ITSY003) click on the button below, and select the case from the list of available cases:
Price:
For delivery in electronic format: Rs. 300;
For delivery through courier (within India): Rs. 300 + Shipping & Handling Charges extra
» IT & Systems Case Studies Collection
» IT and Systems Short Case Studies
» View Detailed Pricing Info
» How To Order This Case
» Business Case Studies
» Case Studies by Area
» Case Studies by Industry
» Case Studies by Company
Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
Chat with us
Please leave your feedback
|
|
<< Previous
Excerpts
ICICI - Internet Banking Initiatives
|
ICICI bank was incorporated as a commercial banking company,
by the Industrial Credit and Investment Corporation of India (ICICI)4,
in May 1994. The first ICICI branch was started in June 1994 at Chennai. The
bank provides an array of domestic and international banking services to enable
national and international trade and business, investment and foreign exchange
and treasury services. Right from its inception the bank focused more on
incorporating advanced technology. The bank operated the largest chain of ATMs
in the country, which amounted to more than 450 in 2000. All the bank's branches
were fully computerized and networked through V-SAT5
technology... |
|
The Future
Despite the rosy predictions and increased corporate activity, the Indian
Internet banking system is facing many hurdles. The problems include
operational risks, security risks, system architecture risks, reputational
risks and legal risks (See Exhibit I for Problems in Internet Banking)...
|
|
Apart from the security issues, there are a host of
other problems like:
• PC user base in India is extremely low compared to global standards.
• The Internet user base is limited.
• Lack of infrastructure to advanced technology based banking services.
• The absence of a regulatory framework for Internet banking
transactions in India.
• The mindset of the Indian consumer, who prefers personal interactions
and is not very comfortable, doing transactions through the Internet.
• Limited awareness about the potential of Internet banking on the part
of banks |
Exhibits
Exhibit I: Internet Banking Problems
Exhibit II: The Regulatory Framework
4]
ICICI is a leading financial services company, established by the Government of
India, in 1955, to promote industrial development in the country.
5] Very Small Aperture Terminal (VSAT) refers
to an earthbound station used in satellite communications of data, voice and
video signals. A VSAT consisted of a transceiver that was placed outdoors in
direct line of sight to the satellite and a device that was placed indoors to
interface the transceiver with the end user's communications device such as a
PC.
|
|
