Shri K.V. Kamath Delivers IDRBT Foundation Day Lecture 2012

The Institute celebrated its Foundation Day on November 06, 2012. Shri K. V. Kamath, Chairman of Infosys and ICICI Bank, was the Chief Guest on the occasion.

In his welcome address, Shri B. Sambamurthy, Director, IDRBT, focused attention on the contributions made by the Institute over the past few years in terms of INFINET, SFMS, NEFT and CA. He shared that the emphasis now is on building a knowledge corpus in Banking Technology through Research, Academics and Training.

Accordingly, the Institute has set up CRM Lab, Mobile Banking Lab, Secure Technology Lab, and also become an Associate Institution of University of Hyderabad. Another key milestone was the launch of the Indian Banking Technology Consortium (IBTC) to guide the banks in the area of Technological Developments.

Foundation Day Lecture on "Banking in a Transforming Economy"

Commending IDRBT for its contribution to the Banking Industry through its various initiatives, Mr. Kamath started his lecture by citing the example of a bank branch where the footfalls have fallen substantially owing to transactions moving to other delivery channels such as ATM, Mobile Banking, Internet Banking, etc. He highlighted the following three important factors that were crucial for Banking Transformation to take place in India:

  • Technology in Banking: Stating that usage of technology in the Financial Sector especially in Banks has grown dramatically post 2000, he pointed out that technology has enabled operational efficiency, increased processing speed and minimized costs, which have lead to a better customer experience. In a span of 10 years, transactions in the branches have fallen from 94% to 12%, whereas transactions through ATMs and Internet increased manifold. Increasing connectivity through Internet, Mobile Banking, etc., would have a significant impact on Banking.
  • A Transforming India: The future of Indian banking lies in utilizing Banking Technology to reach out to the masses. He stressed on the need to innovate and leverage technology by finding new delivery channels to take banking to the Bottom of the Pyramid.
  • The Future of Indian Banking: The future of Indian banking lies in utilizing Banking Technology to reach out to the masses. He stressed on the need to innovate and leverage technology by finding new delivery channels to take banking to the Bottom of the Pyramid.

On the occasion, Mr. Kamath, presented the citation and prizes to two M. Tech students of IDRBT, Kunala N.V.D.Sarath and Jonah Nishanth K, who won it for being adjudged the best projects in the year 2011 – 12. Dr. Ravi, Associate Professor, had guided both these students. While the First Prize carried a reward of Rs 10,000/-, the Second Prize carried a reward of Rs 5,000/- .

Shri. Patrick Kishore, Chief Operating Officer, Strategic Business Unit, IDRBT, proposed the vote of thanks.

Please click below for:

IDRBT Foundation Day Lecture Video

Presentation of Shri K. V. Kamath