BANKNET INDIA 2010

It is pertinent to note that Banknet’s first payment conference was organized on May 20, 2005 to deliberate on the release of Vision Document for Payment and Settlement Systems by Reserve Bank on the 3rd May 20005. In the first payment conference, Reserve Bank of India was represented by Dr R B Barman, Executive Director, Mr A P Hota, Chief General Manager, DPSS, Mr Kaza Sudhakar, General Manager, DPSS and Mr S.N.Panda, Deputy General Manager.

India is an immense and extremely unique market with a nascent payments industry that seems solidly poised for dramatic growth. With total payment flows approaching $9 trillion, India’s payments industry has revenues of nearly $14 billion. Effective functioning of financial system as well as effective transmission of monetary policy signals requires a safe and efficient payment and settlement system. If managed through a clear, coherent strategy, payments can be a real source of competitive advantage and consistent profitability for banks.

The rapid advancements in the field of information technology (IT) have contributed to emergence of new products as well as methods of payment and settlement. In recent years, the use of electronic payments has witnessed manifold increase, partly reflecting increased adoption of technology.

Conference will deliberate on topics like RTGS, NEFT, NECS, Cheque Truncation Systems, Clearing & Settlement Systems, Financial Inclusion, Customer Service, Financial Frauds, Cyber Security, Internet Banking, Mobile Banking & Payments, M commerce, ATMs, Card Payments etc.