Internet Banking ? A Global Way To Banks In India

Indian Bankers Association (IBA) along with exchange banks associationsigned first wage settlement with the unions, which accounted for the use of IBM or ICT accounting machines for inter-branch reconciliation etc.   A committee on computerization and mechanisation was appointed by RBI in 1983 under chairmanship of Dr. C. Rangrajan recommended that computerization and installation of Advanced Ledger Posting Machines (ALPM) at branch, regional and head offices of banks will bring around a new era in banking.  Narsimhan Committee in 1991 paved way for reform phase in banking.  Saraf Committee was constituted by RBI in 1994 that recommended the use of Electronic Fund