Demonetization: Experience From Ground Zero
Express Computer|January 2017
While the demonetization drive has thrown up huge challenges, Indian CXOs have risen to the challenge by acting quickly. EC spoke to a few CXOs on how they they prepared their organizations once the landmark announcement was made by Prime Minister Narendra Modi.
Demonetization: Experience From Ground Zero

SANJAY NARKAR

HEAD-TECHNOLOGY, IDFC BANK

Demonetisation is a huge opportunity for pushing cashless, as it will be difficult to replace invalid currency in a short span of time. This is particularly true for IDFC Bank, since our aim right since inception has been to make everything cashless. As a part of the initiative, we are trying to reach people with our micro-ATM strategy. It is very convenient for people to transact. It gives almost equivalent amount of services that a normal branch would give. Through a tablet, the microATM connects to our CBS, and through it, one can operate the account. The communication is online and real-time all the time. It is a tablet and a POS machine which also has a biometric authentication. It also works on swipe of a card, and it has a small printer attached to it for giving receipts. Customers have to go an agent who travels from village to village and has this micro-ATM with him.We have a BC network and official agents who work on behalf of the bank and we also have the micro-ATM, which can give all kinds of banking services including opening of an account. It is linked to the Aadhaar account of the customer. Currently, there are 1200 micro-ATMs deployed. We will be deploying an additional 3,000 microATMs in the next three months. We will be increasing our point of presence through these micro-ATMs.

Behind the scenario of demonetisation

In midst of the demonetization process, all circulars come from RBI as far as operational restrictions are concerned. These are required to be configured on the system on a daily basis. Be it the limit, ATM withdrawal, cash withdrawal on the branch, cash withdrawal per day or per week — these are changes that are required to be managed at a software level. This is important as a customer can operate his account from anywhere and anytime, and this needs to be controlled as per the daily norms.

Denne historien er fra January 2017-utgaven av Express Computer.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra January 2017-utgaven av Express Computer.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA EXPRESS COMPUTERSe alt
How Big Basket Is Leveraging Emerging Tech For Streamlining Delivery
Express Computer

How Big Basket Is Leveraging Emerging Tech For Streamlining Delivery

A perfect combination of focused strategy, market knowhow, customer centricity, and most importantly, the right technology, has led to Big Basket's dominance in online grocery space

time-read
4 mins  |
March 2020
Technology raising the bar in higher education
Express Computer

Technology raising the bar in higher education

From app-based learning to virtual classrooms and from AI to analytics, the higher education industry in India is driven by increasing technology adoption

time-read
3 mins  |
March 2020
Speaking about the EDGE
Express Computer

Speaking about the EDGE

BY ESTABLISHING IT deployments for cloud-based services in edge data centres located in localised areas or communities, IT resources are effectively brought closer to end users and devices

time-read
3 mins  |
March 2020
REDEFINING DATA CENTRES
Express Computer

REDEFINING DATA CENTRES

A look at how some of India's leading organisations are heralding transformational changes in their data centre operations

time-read
5 mins  |
March 2020
Need to define outcomes before making data centre software defined
Express Computer

Need to define outcomes before making data centre software defined

THERE IS A NEED to clearly define the outcomes from adopting the software defined concept; a necessary mechanism to regularly review and revise the outcomes should also be built, says Manoj Gautam, VP - IT Infrastructure Service, Maruti Suzuki India

time-read
4 mins  |
March 2020
ICICI Bank: Unique distinction of a platinum rated green data centre
Express Computer

ICICI Bank: Unique distinction of a platinum rated green data centre

PROVIDING A MAJOR impetus to CII- Indian Green Building Council's (IGBC) efforts in greening of Indian data centres, ICICI Bank Data Centre in Hyderabad has gained the unique distinction of becoming India’s first Platinum rated project under IGBC Green Data Centre Rating System

time-read
3 mins  |
March 2020
Data centre rationalises computing resources at Titan Company
Express Computer

Data centre rationalises computing resources at Titan Company

TITAN HOSTS A complex IT architecture. The data centre team has been trained by the OEMs to run the software-defined infrastructure, says Krishnan Venkateswaran, Chief Digital and Information Officer, Titan Company

time-read
3 mins  |
March 2020
Bajaj Housing Finance goes with 100% cloud architecture
Express Computer

Bajaj Housing Finance goes with 100% cloud architecture

BAJAJ HOUSING FINANCE has moved the entire enterprise IT ecosystem 100 per cent on public cloud, leading to flexible architecture for its business applications, data warehousing and analytics, which is high performing, rapidly scalable and secure

time-read
2 mins  |
March 2020
The top barriers financial institutions face in their race to digital transformation
Express Computer

The top barriers financial institutions face in their race to digital transformation

WHY ARE DIGITAL business transformations failing to deliver value? Low double digit percentage of IT leaders have seen sustained performance improvement from transformation efforts, and are successful at sustaining change

time-read
5 mins  |
April 2020
Mercedes-Benz banks on digital initiatives for competitive advantage
Express Computer

Mercedes-Benz banks on digital initiatives for competitive advantage

MERCEDES BELIEVES THAT CONNECTED, Autonomous, Shared and Services, Electric (CASE)are the four concepts that will shape the future of driving. While design has been a fancy for Mercedes, tech and IT is as significant. And if touch controls seem too tedious to operate then the company now brings out gesture control

time-read
3 mins  |
April 2020