"INDIAN PSBs LAG IN TECH, BUSINESS IMPACT MEASUREMENT"

In an exclusive interaction with BW Businessworld’s Rohit Chintapali, Intellect Design Arena Chairman & Managing Director ARUN JAIN criticises Indian PSBs for lacking business impact measurement in their technology adoption, warning of mid-term and long-term consequences

- Rohit Chintapali

You picked up a Rs 80 crore Indian bank deal recently. How is the business traction currently for Intellect Design in the bank category in India and among public sector banks (PSBs)?

It’s quite positive. Indian banks have been very positive on picking up the high-quality business impact technologies. Five years back, the trend was different, as they were going with a cost-conscious approach. But even now, some of the PSBs are unable to change their mindset in terms of business impact measurement. In fact, they do not have business impact measurement. So, something is wrong in the public sector units, which the Department of Finance has to solve.

It’s interesting that you mention this, as the sector appears to be focused on non-performing asset (NPA) improvements and celebrating it, while simultaneously, traditional banks seem to be misguided in their prioritisation of technology…