IT in Banking

In the five decades since independence, banking in India has evolved through four
distinct phases. During Fourth phase, also called as Reform Phase, Recommendations
 of the Narasimham Committee (1991) paved the way for the reform phase in the banking.
 Important initiatives with regard to the reform of the banking system were taken
in this phase. Important among these have been introduction of new accounting and
prudential norms relating to income recognition, provisioning and capital adequacy,
deregulation of interest rates & easing of norms for entry in the field of banking.
Entry of new banks resulted in a paradigm shift in the ways of banking in India.
 The growing competition, growing expectations led to increased awareness among-st
 banks on the role and importance of technology in banking. The arrival of foreign
and private banks with their superior state-of-the-art technology-based services pushed
 Indian Banks also to follow suit by going in for the latest technologies so as to meet
the threat of competition and retain their customer base.
Indian banking industry, today is in the midst of an IT revolution. A combination of
regulatory and competitive reasons have led to increasing importance of total banking
automation in the Indian Banking Industry.
Information Technology has basically been used under two different avenues in Banking.
 One is Communication and Connectivity and other is Business Process Reengineering.
 Information technology enables sophisticated product development, better market
infrastructure, implementation of reliable techniques for control of risks and helps
the financial intermediaries to reach geographically distant and diversified markets.
In view of this, technology has changed the contours of three major functions performed
 by banks, i.e., access to liquidity, transformation of assets and monitoring of risks.
Further, Information technology and the communication networking systems have a crucial bearing on the efficiency of money, capital and foreign exchange markets.
The Software Packages for Banking Applications in India had their beginnings in the
 middle of 80s, when the Banks started computerising the branches in a limited manner.
The early 90s saw the plummeting hardware prices and advent of cheap and inexpensive but
 high-powered PCs and servers and banks went in for what was called Total Branch
Automation (TBA) Packages. The middle and late 90s witnessed the tornado of financial
 reforms, deregulation, globalisation etc coupled with rapid revolution in communication
 technologies and evolution of novel concept of 'convergence' of computer and communication technologies,
 like Internet, mobile / cell phones etc

Computers in banking & insurance

ATM

Automated Teller Machines (ATMs) or 'the hole in the wall' cash machine has been around rover 30 years.They let customers withdraw cash 24 hours a day even when the bank is closed.Many customers prefer to use them even when the bank is open as it saves them joining long queue to withdraw money from a cashier From the bank's point of view ATMs mean that customers do all the work meaning that they don't have to pay for so many bank staff .ATMs used to only be available at the bank. Nowadays you will find them in shops, garages, airports and many other places.

Online banking 

Online or internet banking has really taken off over the past five years.Customers are able to access their accounts 24/7 and except for withdrawing cash, they are able to do everything that they could do with a traditional high street bank, for example setting up direct debits, changing payments, moving money from one account to another.Because the customer does most of the work the bank's overheads are reduced. This means that they can pass on some of the savings they make to the customer in the form of higher interest rates for savings and lower rates for borrowing.There have been concerns over security and fraud with online accounts and some customers remain a little wary of opening such an account.

Smart Cards

Smart cards look similar to a credit card but they differ in that they contain a memory chip or microprocessor on the card.This makes it possible for the card to store data such as virtual money where you top up the balance on your smart card using a special machine. You can then use the card to pay for small items such as lunch in the canteen, photocopying, small items from the office shop. The cost of the items is automatically deducted from the balance on your card when the card is 'swiped'.

Improve English with It

English Grammar Online … the fun way to learn English online

Read and Learn English

This section provides you with interesting texts on English speaking countries, holidays, animals and sports. In the Literature area, you will find excerpts and easy versions of famous novels. And if you are interested in what is going on in the world, you can read English news in our New sticker.

Study English

In the Grammar and Vocabulary areas, you will find exercises, explanations and word lists. In the Writing area, we tell you how to write English texts and how to work with stylistic devices. Our study tips help you to learn English more effectively and with more fun.  And if you want to do one exercise every day, try out the Daily English lessons.

Business English

In the Communication area, there is everything that you need for

everyday business: structure of English business letter, wordlists and a generator for creating business letters easily. The Business-Info area provides you with tips on your career as well as strategies for marketing, negotiation, customer service etc.

Teach English

This section provides teachers with information on how to use ego4u material in class. For several topics on cultural studies, we have added notes that will help you plan your lesson. In the Lessons area, you will find printable material in PD F files. And if you want to get in touch with other teachers, use our Teacher’s Board.

It Courses

Free computer science courses, new teaching technology reinvent online education

Stanford Engineering professors are offering three of the school’s most popular 
computer science courses for free online this fall, and at the same time launching
 an experiment that could transform the way online education is delivered.
The professors are taking technologies designed to enhance learning for Stanford
 students and extending them to a broad online audience. They are delivering lectures
 as short, interactive video clips that allow students to progress at their own pace 
through course materials. They are offering live quizzes with instant feedback.  
And they are testing new technologies that allow students to rank questions that 
should be posed to the instructors.
The professors also hope to extend the benefits of Stanford-style education to those
 who lack access.
“Both in the United States and elsewhere, many people simply do not have access to a
 high-quality education.  By putting out this initial set of courses, we hope to teach 
some of the latest computing technologies to anyone who wants to learn it – for free,”
 said Andrew Ng, an associate professor of computer science who is teaching a new online
 machine learning course.
The three courses – Machine Learning, Introduction to Artificial Intelligence and 
Introduction to Databases – cover material that forms the basis of some of the most 
prevalent technologies today, from online shopping to web search and robotics.
“By opening up education, we hope to give more learning, job and advancement 
opportunities to anyone who wants them,” said Computer Science Department Chair 
Jennifer Widom, who is teaching the database course.

Demand has been enormous. Already more than 58,000 people have expressed interest
 in the artificial intelligence course taught by Sebastian Thrun, a Stanford research
 professor of computer science and a Google Fellow, and Google Director of Research 
Peter Norvig.
“The time is right for this – technology has progressed, connectivity has progressed
 and video has progressed,” Thrun said. “It’s thrilling to be able to take Stanford 
education out into the world to people who can’t afford it or wouldn’t have access.”
Formal registration for the classes is expected to begin next month; classes start on Oct.
 10 and extend through December.  All three are being offered in partnership with the
 Stanford Center for Professional Development (SCPD), which brings more than 40 years
 of distance-learning expertise to the table.  Both SCPD students and regular Stanford
 students, as well as the general public, will have access to the new online learning 
tools.
Students in the free courses are expected to read course materials, complete assignments
 and take quizzes and an exam. Thrun said online students should expect to devote at 
least 12 hours a week to the artificial intelligence course, just as Stanford students do. 
What online students won’t receive, however, is one-on-one interaction with professors,
 the full content of lectures – or a

 Stanford degree.
The online courses build on recent innovations by Stanford professors to increase 
interaction with students. These include ClassX, a video processing platform that facilitates
 lecture recording;CourseWare, an online course hosting site with social networking features; and 
OpenClassroom, a web platform designed to share Stanford lectures freely with the world.
In January 2010, computer science Professor Daphne Koller piloted the idea of shifting
 classroom time from lectures – which are largely passive activities for students – to
 more engaging activities. She recorded lectures as short videos for students to watch
 online and used class time to solve problems, host guest lecturers from the technology
 industry and review material students found difficult.
“The idea was to improve both the classroom experience and the online experience,” 
she said.
She incorporated questions and quizzes into the videos to keep students thinking 
about the material and help them learn more effectively.
 “One of the disadvantages of traditional instruction is how long it takes to get 
feedback on your work,” said Ng. “If you submit homework and get a graded version back
 a week later, you may already have forgotten much of what you did.  With technologies 
that give you immediate feedback, a student can immediately determine what they do and 
don’t understand, and more efficiently focus their efforts.”
 The new courses are only the latest effort by Stanford to share information and ideas
 with the public online. Stanford helped pioneer the use of Apple’s iTunes service by 
academic institutions in 2005. Three years later, the university launched Stanford 
Engineering Everywhere, the university’s first free site to offer complete video-based courses
 and materials that are available anywhere, anytime and on-demand.
 It offered 10 free computer science and electrical engineering courses


Training in a Computer Science

The training in a Computer Science degree program, gives students 
the skills necessary to not only be successful in a computer technology 
workforce, but real-life situations. It also gives students the knowledge and power
 to be successful on an international level. Language in the computer technology field
 is universal, meaning that it is easy for anyone with a computer technology background 
to understand, no matter what the spoken language is. Computer technology is a growing
 career field and these jobs are available all over the world.



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