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Risk Management, Customer Centricity & Basel II Top Priorities for Indian Banking Industry

Banknet releases findings of Financial Systems Survey 2008

Year 2007-08 has walked the financial sector all over the world through a rather rough phase. Banknet conducted a Financial Sector Survey to identify critical business, technology and operational issues, which need to be addressed by the Indian financial sector in 2008.

This year’s survey ranks Risk Management and Customer Centricity and Management as the top challenges that need to be addressed. These top two priorities have been closely followed by Basel II.

Announcing the findings at Banknet’s Fourth Annual CTO- CXO Summit on 15th May 2008, Mr Anurag Khanna, Chairman & Managing Director of Banknet Group added that there prevails a very strong inter-relationship between the Risk Management and Basel II. Implementation of Basel II is likely to improve the risk management systems of banks as the banks aim for adequate capitalization to meet the underlying credit risks and strengthen the overall financial system. Customers and customer relationships lie at the very core of the business of banking and hence they rank high on the priority list of banks.

Fourth position was shared by two challenges growth and profitability and effectiveness of the internet and mobile banking. Cyber security and frauds have been rated in the survey as the 5th most crucial challenge in the survey. Human Resources have obtained the sixth position. More information on survey findings is available at

Findings will be soon available at Banknet Online Book Store

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