IDRBT Banking Technology Awards - 2002

The winners of the prestigious Banking Technology Awards from the Institute for Development and Research in Banking Technology (IDRBT) for the year 2002 are as follows: 

1. Excellence in Banking Technology 

  • Best Bank Award - Punjab National Bank 

  • Special Award - Canara Bank 

2. INFINET Usage and Applications  

  • Best Bank Award - Corporation Bank 

  • Special Award - Andhra Bank 

The Awards were given by Dr. Bimal Jalan, Hon’ble Governor, Reserve Bank of India during the Annual Conference of CMDs and EDs of Public Sector Banks held on October 24, 2002 at the Institute. Speaking on the occasion, Dr. Jalan said that technology implementation was no more a choice, as success of business was being determined by IT. He urged the Public Sector banks to increase the use of technology to cut costs and increase the volume of business. 

The selection committee for this year’s Awards was headed by Shri Rajeeva Ratna Shah, Secretary, Department of Information Technology, Ministry of Communication and Information Technology, Government of India. The other members of the selection committee were: Dr. S. Ramani, Former Director of NITIE, Mumbai, Dr. R.B.Barman, Executive Director, RBI, Shri. K.C. Chowdhary, Secretary, IBA and Dr. V.P. Gulati, Director, IDRBT. 

The selections were based on rigorous evaluation criteria which covered various facets of technology implementation in banks such as Extent of Computerization, Networking Infrastructure, Technology Applications for improved house-keeping and MIS, INdian FInancial NETwork (INFINET) Applications, IT Security Audit, IT Training, In-house Software Development, ATM Installations, Customer-centric Applications, New Initiatives, Spread and Usage of INFINET etc. 

The evaluation was a two-stage process in which the top performers were first short-listed and the contenders from this group were subjected to closer scrutiny and comparison on all vital parameters of performance for the year July 2001-June 2002 for selecting the ultimate winners. The Banking Technology Awards act as an invigorating source of recognition and motivation for the banks in exploiting technology to achieve their business goals.

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