Banking Technology Excellence Awards 2007 - 2008

Dr. D. Subbarao, Governor, Reserve Bank of India, and Visitor, IDRBT, presented the IDRBT Banking Technology Excellence Awards for the year-ended March 2008 on May 18, 2009.

Speaking on the occasion, the Hon'ble Governor focused on the potential of IT in extending banking services to under-served rural and semi-urban areas. "The use of Smart Card technology, mobile ATMs, coverage of post offices under electronic payments networks in out-of-reach areas – all could play significant roles in providing financial services to more people," he stressed.

He also outlined the focal areas for IT implementation in banks which includes enabling differentiation in customer service; Facilitating Customer Relationship Management based on available information, which can be stored and retrieved from data warehouses; Improving asset-liability management for banks, which has a direct bearing on the profits of banks; Enhancing compliance with anti-money laundering regulations; and Complying with Basel II norms.

Pointing out that in the years ahead, the ability of banks to harness new technologies to meet the demands of households and businesses will be tested, he exhorted the banking sector to meet the challenges head on, continue to find new and better ways to put technology to their and their customers' best use, and thereby efficiently manage the associated technology and business challenges.

Banking Technology Excellence Awards 2007 - 2008

Instituted by the IDRBT in the year 2001, these awards aim to infuse a spirit of healthy competition and accelerate the process of technology implementation and innovation among various banks in the country. The Awards are also meant to act as catalysts by recognizing and rewarding the efforts of banks aimed at better use of technology, greater levels of technology absorption, and improved levels of customer service and satisfaction through innovative use of technology.

The Awards are arrived at after a careful scrutiny and evaluation of the inputs called for from all the banks in the country on a wide range of parameters. Accordingly, these awards are the best indicators of efficient and effective technology implementation and innovation in the Indian Banking and Financial Sector.

The awards, meant to recognise and honour the best and innovative use of information technology to enhance the levels of customer service and satisfaction, were presented in the following five categories:

  • Best Use of IT for Customer Service in Semi-Urban and Rural Areas Among Large Banks
  • Best Use of IT for Customer Service in Semi-Urban and Rural Areas Among Small Banks
  • Best Use of Technology for Financial Inclusion
  • Initiatives in Mobile Payments and Banking
  • IT Governance and Value Delivery

An eminent jury consisting of Dr. R. B. Barman, Former Executive Director, Reserve Bank of India; Prof. G. Sivakumar, Professor, Indian Institute of Technology, Bombay; Shri H. Krishnamurthy, Professor, Indian Institute of Science; Dr. K. Ramakrishnan, Chief Executive, Indian Banks Association; and Shri H. N. Sinor, Chairman, 3i Infotech Limited; adjudged the banks.

Both Public and Private Sector Banks submitted the information for each category of award. The jury took into account the heterogeneities in the industry in terms of size, presence and level of operations while comparing the banks for each category of award.

Award Category Winner Received by
Best Use of Technology for Financial Inclusion
Best Bank Award Corporation Bank Shri Jag Mohan Garg, Chairman & Managing Director
Special Award Punjab National Bank Dr. K. C. Chakrabarty, Chairman & Managing Director
Best Use of IT for Customer Service in Semi-Urban and Rural Areas Among Large Banks
Best Bank Award State Bank of India Shri Chintagunta Ramnath, CGM (IT )
Best Use of IT for Customer Service in Semi-Urban and Rural Areas Among Small Banks
Best Bank Award Karur Vysya Bank Shri P.T. Kuppuswamy, MD & CEO
Best Bank Award for Initiatives in Mobile Payments and Banking
Best Bank Award ICICI Bank Ltd. Shri Mukesh Kumar Jain, Senior General Manager
IT Governance and Value Delivery
Best Bank Award HDFC Bank Shri Aditya Puri, Managing Director
Special Award Kotak Mahindra Bank Ltd Shri Sanjay Balsare, Executive Vice President