In the early 80s, a high level committee was formed under the chairmanship of Dr. C Rangarajan, then Governor of the Reserve Bank of India, to draw up a phased plan for computerisation and mechanisation in the Banking Industry over a five year time frame of 1985-89. The focus by this time (justifiably) was on customer service and two models of branch automation were developed and implemented
Both the models provided the customer with error-free accounting, regular statements of accounts etc. Considering the contemporary level of computerisation, these were major achievements but did not go far enough and the pace of their implementation was tardy, to say the least, with not a little opposition from trade unions. RANGARAJAN COMMITTEE (II) Having gained experience in the earlier mode of computerisation, the second Rangarajan Committee constituted in 1988 drew up a detailed perspective plan for computerisation of in Banks and for extension of automation to other areas like funds transfer, electronic mail, BANKNET, SWIFT, ATMs etc. The Committee recommended the the following road map for computerisation over the next five years,
The Committee also made studied recommendations on the 'Single Window Concept; 'all bank credit cards', credit clearing/GIRO system, office automation, etc. In fact this report was the most comprehensive road map for Bank Automation considering the state of the technology at that time.
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