International Journal of ManagementVolume 1 • Issue 1 • May 2010 • pp.43-58                                   IJMhttp://ia...
International Journal of Management When does risk go out of hands? The              also been relentlessly following up w...
International Journal of Management turns have a direct impact on the balance           deposit base of Rs. 1,14,272 crore...
International Journal of Management Records.                                        will help these banks to stay afloat o...
International Journal of Management  Not only the entry-level technology            expected to grow to $261.7 billion out...
International Journal of Management mouse refers to the mouse as well as the        lot of investments, time and manpower,...
International Journal of Management so far – you built a Hard Disk and the         point of Data Warehousing and Data race...
International Journal of Management concept called risk. Your friendly local      focus of this Paper. banker makes effort...
International Journal of Management      · Risk Profiling of the Banks.           Data cleansing and data enrichment      ...
International Journal of Management along. The days to come, in this sense,          vanish. If not, it is a tribute to th...
International Journal of Management problem but with a potential to cause                  Storing and retrieval, Firewall...
International Journal of Management gaps.                                                 risk of                         ...
International Journal of Management also equally potent ones.                                       be a slave in the hand...
International Journal of Management         this transitional task                      Reserve Bank of India continuing t...
International Journal of Management 7. References                                               Emerging Area for Lending ...
International Journal of Management             2010 – IBA Bulletin Special       20.   Jain   Mal        Paras,      2005...
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Risk and technology management in banking industry

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Risk and technology management in banking industry

  1. 1. International Journal of ManagementVolume 1 • Issue 1 • May 2010 • pp.43-58 IJM ©IAEM RISK AND TECHNOLOGY MANAGEMENT IN BANKING INDUSTRY Dr. N. KANNAN. Assistant Professor in Department of Business Administration St.Mary’s School of Management Studies, Rajiv Gandhi Road, Chennai 600 119 Abstract already have overseas presence and many more are in the process of The Indian financial system, breaking the national barriers.particularly the banking system is very Technology caught the fancy of thediverse. All over India there are Indian banking czars in the ‘80s. Today,numerous co-operative banks and the technology has made fair inroads intoRegional Rural Banks. And, there are the domain of banking in India. Not onlysome highly profitable foreign banks. the entry-level technology but, the core-There are many odd entities known as banking technology or the networkedNBFCs – Non-Banking Finance banking technology has also gained a lotCompanies. The regulatory authority for of ground. The ‘private banks’ like theall these, except for the co-operative HDFC Bank and ICICI Bank, are in thebanks, is the RBI – Reserve Bank of forefront having implementedIndia. India still does not have world technology to the level which isclass banks. However, the huge size of comparable to the best, from worldthe State Bank of India, coupled with the standards. Risk and Reward go hand instrength of several subsidiaries, is an hand. The banking fraternity bestindication that the Indian banks can go understands this wisdom. But, theglobal. No less is the strength of the million dollar question is how much risk“nationalised banks’” share. Some banks is enough? Where to draw the line?
  2. 2. International Journal of Management When does risk go out of hands? The also been relentlessly following up with sub-questions arising out of this are the banks. As a result, the RMA – Risk complex enough. Therefore, the answers management Architecture, is in place at are not going to come by easily. As far most of the banks. as the structured Risk Management Key Words: Banking, Risk mechanism is concerned, we seem to be Management, Technology Management on course. Reserve Bank of India has 1. Introduction coupled with the range and depth of their Financial System is the most important services make the system an institutional and functional vehicle for indispensable medium in every day economic transformation of any country. transactions. The virtual monopoly of Banking sector is reckoned as a hub and banks in `Payment Mechanism touches barometer of the financial system. As a the lives of millions of people every day pillar of the economy, this sector plays a and every where. Thus the banking predominant role in the economic sector has been playing a significant role development of the country. The as growth facilitator. geographical pervasiveness of the bank and any where banking. The major 2. The Changing Paradigm of challenge faced by banks today is to Banking protect the falling margins due to the Change is the only constant factor in this impact of competition. Another dynamic world and banking is not an significant impact of banks today is the exception. The changes staring in the technology issue. There is an imperative face of bankers relates to the need for not mere technology up fundamental way of banking-which is gradation but also its integration with the undergoing rapid transformation in the general way of functioning of banks to world of today, in response to the forces give them an edge in respect of services of completion productivity and provided to optimizing the use of funds efficiency of operations, reduced and building up MIS for decision operating margins better asset/liability making and better management of assets management, risk management, any time and liabilities and risk assumed which in 44
  3. 3. International Journal of Management turns have a direct impact on the balance deposit base of Rs. 1,14,272 crores. sheet of banks as a whole. Word over, There are large banks known as the technology has demonstrated potential to ‘nationalised banks’ which have huge change methods of selling marketing, government ownership along with advertising, designing, pricing and significant private share holders. There distributing financial products of an are relatively new private sector banks, electronic, self-service product delivery most of which are multi-nationals. All channel. All these changes call for a over India there are numerous co- new, more dynamic, aggressive and operative banks and the Regional Rural challenging work culture to meet the Banks. And, there are some highly demands of customer relationships, profitable foreign banks. There are many product differentiation, brand values, odd entities known as NBFCs – Non- reputation, corporate governance and Banking Finance Companies. The regulatory prescriptions. regulatory authority for all these, except for the cooperative banks, is the RBI – The Indian financial system, Reserve Bank of India. particularly the banking system is very India still does not have world class diverse. The State Bank of India banks. However, the huge size of the occupies the top slot, which has been in State Bank of India, coupled with the existence since 1806. It has 9038 fully strength of several subsidiaries, is an computerized branches, in India and indication that the Indian banks can go abroad, 3814 ATMs and has deposits to global. No less is the strength of the the tune of Rs. 3,18,619 crores, Then, “nationalised banks’” share. Some banks there are 7 subsidiary banks of SBI, like already have overseas presence and the State Bank of Mysore etc. These many more are in the process of seven subsidiaries have a branch breaking the national barriers. network of 4596 branches, with a M & A s, mergers and acquisitions. State 3. The Era of Mergers and Bank of India and it’s subsidiaries are in Acquisitions the process of forming themselves into a All this has lead the Indian banking giant entity, huge enough to ensure a industry towards the next logical step of place in the Guinness Book of World 45
  4. 4. International Journal of Management Records. will help these banks to stay afloat on their own and in the eventuality of a Two big nationalized banks, Bank of India and Union Bank of India, have takeover, hostile or otherwise, will make the buyers to pay for all the value- announced their plans to merge into one entity. Sometime back, Reserve Bank of additions that they would have made. India ensured a supervised merger of the 3.1 The Entry of Technology in Indian beleaguered GTB – Global Trust Bank Banking: with the OBC – Oriental Bank of Technology caught the fancy of the Commerce. That the exercise succeeded Indian banking czars in the ‘80s. The without creating a commotion among the main hurdle, in a country known for its GTB clientele speaks of the maturity of socialistic leanings and democracy, the Indian banking industry and the came from the trade unionists. In a deftness with which the Reserve Bank of country struggling to implement India handled the issue. employment generation oriented plans, So, mergers and acquisitions are here ideas of mechanization and consequent, to stay ! The banking circle is agog with and inevitable, loss of jobs did not gel rumours of which big fish is going to well. They tried to stall the idea until the swallow which small fish. Many foreign market forces over took the scene. Once banks are known to have been on these the bankers tasted blood there was no ‘fishing expeditions’. The bankers are let-go of the situation. Today, still on the high seas and the size of their technology has made fair inroads into catch is still not known ! The year 2005 the domain of banking in India. promises a lot of action. A lot of bank logos are bound to go into the oblivion, Basic computerization has been but only after ensuring a more-than-fair achieved in the entire banking industry. return to their stakeholders. So much so, that a good number of ‘co- Interestingly, the so-called ‘small fishes’ operative banks’ spread all over India have demonstrated amazing dexterity have also been computerized. In short, in and presence of mind and have the banking industry in India today, a modernized themselves beyond belief. bank, which is not computerised, stands This transformation, on the one hand, out for its non-compliance! 46
  5. 5. International Journal of Management Not only the entry-level technology expected to grow to $261.7 billion out of but, the core-banking technology or the a total market size of $1010.4 billion, a networked banking technology has also 26 percent contribution. These figures gained a lot of ground. The ‘private highlight the importance of BFSI to the banks’ like the HDFC Bank and ICICI software industry. Bank, are in the forefront having A Gartner report says that banking implemented technology to the level software will grow at a CAGR of 13.5 which is comparable to the best, from percent from 2000 to 2005. The total world standards. revenue from packaged software was $22 billion in 2002 and is expected to 4. The Quantum of Global Investment grow at 8 percent to reach $38 billion in in Technology 2005. Industry pundits estimate that There’s no doubt that it’s big business. A Indian banks spend Rs 150 crore and report by the Tower Group states that above on software and hardware for core banks will allocate over one-fourth of and Internet banking on an average. their technology budgets, approximately When the investments are in this range, $37.5 billion on a global basis, on core it calls for a deeper analysis of the banking software, hardware and subject. services. 4.1 The Bankers’ Interpretation of A recent Nasscom-McKinsey study on Technology: the global software business revealed Technology is a less understood but that the Banking, Financial Services and much hyped concept in the Indian Insurance (BFSI) segment would banking industry. The general perception continue to be the largest vertical and is that it is the panacea for all human drive software revenues. According to inefficiencies. In a positive way, it is this study, the BFSI segment contributed said to be the vehicle which can translate $68.3 billion out of a total market size of your wishful thinking into realities. $326.8 billion in the year 1997, a 21 Here, the technology drives the people percent contribution. By the year 2008, or the people drive technology is not the BFSI segment contribution is known. Sadly, technology is becoming a sort of cat and mouse story. Here, the 47
  6. 6. International Journal of Management mouse refers to the mouse as well as the lot of investments, time and manpower, “mouse”, cat refers to the human may be in another form. endeavour to make technology equal to · Enormous investments have been human intelligence, if not overtake it. made in buying technology, adding Technology is becoming a more and to the costs. · A lot of time-investment has gone deeper rooted mechanism. The initial euphoria when computer technology was into imbibing the technology and, · A new breed and creed of man- born was that it is going to be the ‘be- all’ aid to the banker. So much so that, in power has entered the banking portals in the garb of ‘computer the 70s somebody wrote that, in future, a billionaire can float a bank single techies’! handedly, of course, aided by the DR – Disaster Recovery was not a computers Therefore, the common belief concept ever thought of by the among the bankers in India is that the pioneers of computer technology. technology is not only a substitute for They always looked at the brighter human drudgery but also the panacea for side of technology and never assumed all kinds risks, including those caused by that it can cause a disaster also! The their own lack of supervision! But, terms like Hot Site evolved only to technology, as it is evolving day by day, give meaning to the concepts like the is unwittingly throwing up its many Disaster Recovery, which itself was a inadequacies and the techies are new kind of expression. Human mind scurrying around to find newer and is trying to delegate more and more of newer patches to plug those gaping its chores to technology. While human holes. mind is a superb, unbeatable super- I shall enumerate my statement with computer, technology is only a poor some simple examples. cousin of that. The stronger the machine, the more inadequacies fall Technology started as a cost cutting, out. time saving and man power saving device. But, present day technology is Human mind is an amalgam of all the technological phrases that have evolved not like that. Actually, it is demanding a 48
  7. 7. International Journal of Management so far – you built a Hard Disk and the point of Data Warehousing and Data race for hard disk capacity started in no Purging concepts. time. Today, some people talk of the Hard Disk capacity of their computers, Thus, the levels of sophistication being as if it is a status symbol. No sooner you achieved by us are giving way to newer find a bigger hard disk, human ingenuity demands on the technology. And finds newer stuff to load on to it, be it enormous time, energy and resources are text, be it sound, be it graphics or a being expended to devise newer combo of all like the streaming video. controls. All this could have been okay The hard disk capacity of the human but for the speed of technology mind is infinite. obsolescence. By the time we are comfortable with one level of A bigger Hard Disk did not necessarily technology that level goes for a toss and mean big relief; it became a cause of a more sophisticated technology takes concern. What if my hard disk crashes over. And, it is not easy for an industry was the nagging question. Thus evolved like banking to switch gears at that the concept of “Backup”. Multifarious speed. solutions were invented to tackle this issue, like the floppies, the CDs and the 4.2 Risk in Banking Industry: Tapes. So far so good. Risk and Reward go hand in hand. The banking fraternity best understands What if my data base refuses to open this wisdom. But, the million dollar up? So, the concept of BCP – Business question is how much risk is enough? Continuity Plan evolved. The more you Where to draw the line? When does risk store, the more is the risk and this risk is go out of hands? The sub-questions potent enough to cause a disaster. And, arising out of this are complex enough. the DRP – Disaster Recovery Plan was Therefore, the answers are not going to conceived. come by easily. I am crammed with data, can I store Bankers have awaken to this reality some of my less needed data else where and in the recent past a lot of effort has ? Yeah, sure, and, that was the starting been made to go into the genesis of this 49
  8. 8. International Journal of Management concept called risk. Your friendly local focus of this Paper. banker makes efforts and efforts are 4.3 Risk Management: made at the multi-national level under Risk Management is not new to the aegis of Basle II. banking industry. The concept of risk Risks reside in business processes and evolved from the day the concept of so business process mapping is a pre- banking evolved. From that day onwards requisite for risk identification. But, how bankers have been managing risks in many banks have documented the their own way. Now, the induction of processes ? Not many. This will not technology is calling for an effective make risk assessment comprehensive. framework to tackle risks. Earlier, the The result can be detrimental to the processes of control, audit and interests of banks as a low risk can be supervision were all guided by the put to costly mitigation processes, transactions. Now, the industry has seen leaving a higher risk being unattended. the need for shift from transaction based Bankers have identified three basic supervision to risk based supervision. risks: · Credit Risks Accordingly, Reserve Bank of India · Market Risks has taken the lead in inculcating the need · Operational Risks for RBS – Risk Based Supervision of banks in India, with the objectives of Many more risks are being unearthed allocating supervisory resources and like, paying supervisory attention in accordance with the risk profile of each · Reputation Risks bank. The RBS process essentially · Information Risk involves continuous monitoring and · Exchange Rate Risk evaluation of the risk profiles of the banks in relation to their business However, I shall not elaborate the strategy and exposures. This would be areas of risks in banking. Rather, I done with the construction of a Risk would deal with the concept of Matrix for each bank. Reserve Bank has Risk Management, which is the proposed: 50
  9. 9. International Journal of Management · Risk Profiling of the Banks. Data cleansing and data enrichment · Setting up of a supervisory efforts on an on-going basis, go a long Programme way in ensuring smooth transition to · Drawing up of a Monitorable computerized environment. Action Plan. Complacency and misplaced faith seem · Introduction of Enforcement to be the causative factors of these Process and Incentive framework lacunae. · Induction of external auditors in 2. Soundness of Systems and banking supervision Technology is of course there. Here the · Imparting Change Management trouble seems to be of a peculiar nature. Implications for the banks. Initially, bankers were reluctant to embrace technology, courtesy the belligerent attitude of the trade unions. However, the success of this depends on When they did make a move to adopt it, the following: technology had moved a notch upwards · Quality and Reliability of Data and most of the banks were saddled with · Soundness of Systems and the outdated technology. Private Banks Technology entered the field at this stage and · Appropriateness of Risk Control flaunted the state of the art tech Mechanism developed and adopted savvyness. For a while it looked as if the by the banks Indian banking is about to be taken over · Supporting corporate, HR and by the private banks. Once the euphoria organizational back up. subsided, the fence jumpers came back to the nationalized banks’ fold. Then, the 1. The quality and reliability of the nationalized banks flexed their muscles data remains a suspect. It is neither and went shopping for the in-things in because of the inaccuracy in accounting technological gizmos. Today, the level nor because of any fraudulent activities. playing field is in place. Major It is due to the poor quality of nationalized banks, even some Co- “migration” to computerized Operative banks, are offering what the environment without cleansing the data. Blue Eyed Boys were boasting of all 51
  10. 10. International Journal of Management along. The days to come, in this sense, vanish. If not, it is a tribute to the will be interesting to watch. bankers’ maturity and the cause for 3. Then, let us look at the swelling profits.. The element of profit is appropriateness of Risk Control loaded into the interest as an essential Mechanism developed and adopted by component. A banker arrives at a credit the banks. This is also the focus of my decision by the inter-play of his Paper being presented to you now. On professional expertise, mental paper, yes, most of the banks claim to be assessment of the borrower, aided by the having their RCM in place. Practically diverse data – statements, statistics, speaking the answer is NO. The reasons ratios, percentages et all – are multifarious, complemented by his READING of the 4. Inadequate description of the borrower / situation. Provided the data term RISK. – Risk is a very complex placed before him is accurate, his expression to quantify. A sensible way reading of the customer / situation, of describing risk is by listing what it is becomes THE deciding factor in NOT ! The real risk cannot be seen. A extending the credit line. A Winning foreseen risk is not a risk at all. In banker reads BETWEEN the lines, accepting the expression that the RISK others just read! I am not talking of this and REWARD complement each other, invisible element in this context when I we unknowingly imply and involve the say, “inadequate description of the term human wisdom. A human mind takes a RISK”. I am talking of the inadequacies calculated risk, a computer merely of the bankers in deciding upon their calculates. But, it calculates it so fast requirements. I call these risks as that the human being’s ability to take a quantifiable risks. Many bankers base decision is vastly facilitated by that. A their judgment relying on the adequacy banker earns his profit not by listing all of the data placed before them and not these risks. He earns his profits by by calling for the missing links. This is accepting the possibility of occurrence what I call as the inadequate description of some risks not listed in that of risk. compendium of risks. The logic is, if 5. Lacunae existing in migration those risks materialize the reward will stage are not remedied. This is a simple 52
  11. 11. International Journal of Management problem but with a potential to cause Storing and retrieval, Firewalls etc. damage. Data cleansing and data Every new development assures enrichment should be the preconditions enhanced safety and security of data, but to migrate to the new level of with a hefty price tag attached to it. computerization. Many banks have 8. The threat of technology overlooked this area and are content with obsolescence – banks are physically the safe migration. This is a one time disappearing and banking is flourishing! exercise which should be undertaken by The concepts like Internet banking, the banks. Phone banking and Mobile banking 6. Lack of understanding of coupled with the mobile work-force like technology among the senior bankers. the Relationship Managers and Age does prove to be a barrier in marketers-on-foot, who can sell you assimilating technology faster. Today’s anything from a Credit Card to a generation adapts and adopts the current Housing Loan, have broken down the level of technology in real time. But, the physical walls of bank branches. Today older generation takes its time to it appears as if we have reached the comprehend technology. zenith of technology. But, tomorrow is 7. Increasing demands of another day ! Wifi and Bluetooth, technology are very expensive – emboldened by the broadband seem to Technology in itself is never secure or so be the goodies of tomorrow. The it seems. The framework of technology assimilation of these technologies is so fragile that it needs the support of themselves will be an expensive so many security measures. The hall proposition. Then comes the attendant mark of human brain is that, unlike risks. As of now wireless technology is technology, it is totally secure. But not considered to be very safe and technology keeps discovering the need secure. That itself makes us pay for the for many modes of security. The security infra-structure. Thus, one level vocabulary of technology keeps of technology becoming obsolete and the expanding with newer terminologies like dawn of a new level of technology place DRP – Disaster Recovery Plans, Hot a heavy monetary burden on the end Sites, Networked environment, Data users, apart from causing the logistic 53
  12. 12. International Journal of Management gaps. risk of 10. Bestowing this virtue also on the technology. Displaced solace drawn Lack of bankers with dual talent – from CAR – Capital Adequacy Ratio. Hands-on experience of banking AND Capital Adequacy Ratio merely specifies the capacity to understand the current the benchmarks of capital requirements, level of technology makes a good bank for indulging in every kind of banking executive. The slow-intake of activity. Adequate capital does not mean technology by the senior bankers has adequate cover towards risk created a piquant situation where by the management. Adequate capital only time and energy spent on technology empowers a bank to indulge in specified assimilation is much more than the time banking activity and it provides no cover devoted to their core-competence from the inherent risks. One should not namely banking. Any executive who has hope to live longer merely by increasing this dual talent demonstrates a migratory the life insurance cover obtained by him trend.. ! Still, should you choose to die, the 9. Misplaced total faith in stipulated insurance cover is certainly technology. Technology is what available for the asking. technology does and NOTHING more! 11. Basle II places considerable Bankers get confused between their responsibility on the shoulders of the thinking faculties and the computing bankers. Basle II calls for a complete capabilities of the technology. One is not overhaul of banking and pin-points the the substitute for the other ! Technology possible pit-falls. Again, the is good when it is viewed from the angle preparedness to adopt Basle II is of its limitations. The moment you misunderstood by the bankers as their assume it to be anything more than a umbrella to shield against the Risk catalyst, the problems start. The speed, management. Bankers assume the three the accuracy, the analytical strength and types of traditional risks viz Credit, its multi dimensional, multimedia Market, and Operations to be the only presentation are no substitute for the risks. The other types of risks viz capacity to think. Many bankers run the Reputation and Exchange Rate Risk are 54
  13. 13. International Journal of Management also equally potent ones. be a slave in the hands of its master and 12. A new kind of risk is adding to the where the master falters, the roles get list -Information Risk. Today, the inter-changed! Some one has beautifully ‘Branch’ barriers are broken and coined a joke that, a computer is just like networked single entity is in place. This your wife; it remembers every small itself happens to be a great risk for the mistake committed by you and pops it uninitiated. Further, there is no up at the least expected time. geographical boundary for the banks which is penetrated by a small gizmo 5. RMA – Risk Management called the mobile phone. Believe me, Architecture today a mobile phone is indeed capable Banks have realized that there is a lot at of wreaking havoc in a technologically stake and have woken up to the realities unprepared and un-safeguarded bank. of Risk Based Supervision. The stringent 13. There is no substitute to hard work, provisions of Basle II norms have given particularly among the banking them an opportunity to clean up their fraternity. The CONTROL duties stables. Compliance with CAR – Capital allocated to them, to be performed by Adequacy Ratio, not an easy task, has them and them alone, cannot be added to the confidence level of the delegated to machines. Machines do not banks. Reserve Bank of India has also CONTROL anything. They merely made it mandatory for all banks to fall in translate your instructions into processes line with Basle II accord. Thus, the and actions. Human brain works on banks have taken the Risk Based intuitions, a machine doesn’t. Therefore, approach in their stride and have you have to instruct your machine in initiated many measures, such as, unambiguous terms. Computer is said to management Information System Setting up of a RMA – Risk and Information Technology. Management Architecture · Addressing of HRD issues · Setting up of Compliance Units. · Adoption of Risk-focused · Reserve Bank has drawn up a Internal Audit. schedule for implementation of · Strengthening of MIS – 55
  14. 14. International Journal of Management this transitional task Reserve Bank of India continuing to play the role of a friend, philosopher and CRISIL, the leading credit rating guide, Indian banking, in 2005, is poised institution of India has drawn a road for a lot of action coupled with safety map for the implementation of IRM – and security. Integrated Risk management by Banks by March 2005. CRISIL has drawn up another chart defining the datelines for IRM implementation. Most of the Indian banking industry has fallen in line and are geared up to perform in the IRM – Integrated Risk Management era. 6. Conclusion As far as the structured Risk Management mechanism is concerned, we seem to be on course. Reserve Bank of India has also been relentlessly following up with the banks. As a result, the RMA – Risk management Architecture, is in place at most of the banks. Compliance with Basle II norms is giving a common identity to Indian banks and also ensuring a level playing field to enter the international banking arena. With the WTO provisions coming into being in a big way, Basle II norms being applied, core banking solutions in place, at major banks, Risk Management Architecture having been built and 56
  15. 15. International Journal of Management 7. References Emerging Area for Lending : 1. Status of the Indian Banking Commentary in State Bank Industry : A Survey by FICCI Economic Newsletter, Vol : 2004 XXXVII No.6, Feb 10, 2003 2. Retail Banking in the New 9. Retail Banking – An Flavour by P S Sodhi : IBA Overview : Dr T S Bulletin : December 2004 Padmanabhan : Banking 3. Retail Banking in India : The Finance : October 2004 Key Growth Driver by 10. Abundant opportunities in Manoranjan Sharma : retail banking in India : IIBF Professional Banker (ICFAI), : Sep 2004 February 2005 11. The sum & substance of 4. Retail Banking and Trends in personal loans : Sudhanshu Financial Markets : Reading Ranade : Business Line dated Material of QIP of AICTE : August 22, 2004 TAPMI, Manipal, February 7 12. Retail Finance : A safe bet – 11, 2005 for the next five years : CRIS 5. Implementing Basel II in Infac (research subsidiary of Emerging Markets : CRISIL) study : The Best of Challenges & Issues by B M CRISIL 2003 Mittal : BanCon 2004 : IBA 13. Trend and Progress of and Punjab National Bank : Banking in India : RBI 2003- (Indian Banking : Realizing 04 Global Aspirations) 14. Retail Loans : Is a bubble in 6. Year-end Summary of the the making? Vinod Sharma : Banking Sector : Indian Professional Banker (ICFAI), Institute of Banking & January 2005 Finance : December 2004 15. Retail Banking – A Focus : R 7. Retail Lending takes the lead A Almedia, IBA Bulletin, Nov : IIBF : November 2004 2003 8. Retail Financing : The 16. Banking Industry : Vision 57
  16. 16. International Journal of Management 2010 – IBA Bulletin Special 20. Jain Mal Paras, 2005, Issue Jan 2004 Consolidation In Banking 17. Business Today : BT-KPMG Industry Through Mergers Survey of Best Banks in India And Acquisitions, IBA 2004 Bulletin, Volume XXVII, 18. Bhatnagar R.G, 2001, M&A No.1, January 63-68. – The Key To Survival, 21. JayakarRoshani, 2004, The Mergers And Acquisitions: Urge To Merge, Business New Perspectives, ICFAI, Today, Vol.13, No.17, August 167-172. 29, 54-58. 19. Gupta Ashish, 2004, Time 22. Jayakar Roshani, 2004, For Change, Business Today, Goodbye IDBI, Hello IDBI Vol.13, No.17, August 29, 52- Bank, Business Today, Vol. 53. 13, No.23, Nov.21, 116-118 58