The Reserve Bank of India has taken various initiatives for modernizing the Payment and Settlement System in the Country. Information technology has been identified as an integral component in the design and development of modern payment system. Keeping in view the need for a robust integrated Payment and Settlement System and focusing on use of the state of the art technology in the modernisation of the payment of Settlement System, a beginning was made on March 26, 2004 with roll out of the Real Time Gross Settlement (RTGS) System.
Following the flagging off RTGS , IBA thought it appropriate to team up with LOGICA CMG, an international IT solution provider, to conduct a half a day seminar on RTGS Readiness. The seminar will address the key issues of RTGS viz. technical aspects on RTGS infrastructure, Impacts and benefits, Intra-day liquidity policy, Intra-day liquidity solution, Procedures and operational issues in RTGS implementation, Potential future of RTGS etc.

Proceedings

Delivering the Welcome address, Shri H N Sinor,Chief Executive,IBA put forth the purposes and objectives of this seminar and stressed upon the need of up-gradation of information technology and well managed Treasury operations in banks.

Shri Bhaskar Ghosh,MD,IndusInd Bank Ltd. delivered Opening Remarks on this occasion

Dr.R B Barman, ED,RBI in a Key-note address stated that the RBI has urged banks to expand the coverage of RTGS to enable a large customer base to avail this service. There are 10000 inter-connected branches,out of which 3000 would be RTGS-enabled in the first phase. Banks need to increase the network under RTGS to allow more customers to take advantage of the advanced payment system (Text version of the full speech).

PRESENTATIONS
Technical aspects on RTGS infrastructure

Shri R Gandhi
CGM-in-Charge, DIT,RBI

RTGS-Impacts and Benefits and Potential future of RTGS
Dr. Jo Spencer
Principal Consultant and RTGS Authority
(Financial Services)
Logica Global Solutions Pvt. Ltd.

Intra-day liquidity policy
Shri Deepak Mohanty
Advisor, MPD, RBI.

Intra-day liquidity solution
Shri M Sarat Chandra
Solution Consultant-Financial Services
Logica CMG

Procedures and Operational issues in RTGS implementation

Shri M P Kothari
RD,RBI

Interactive Session-(L to R) Kannan Ramaswamy, Deepak Mohanty, Dr.Jo Spencer, M P Kothari
S N Panda,DGM,DIT,RBI.

Concluding Remarks and Vote of Thanks

Shri Kannan Ramaswamy
Sales Director-Financial Services,
Logica Global Solutions Pvt.Ltd.

Cross sections of participants at IBA Seminars

LEADERS' REACTIONS

"Thank you for the valuable opportunity. I hope, we can together continue to make a useful and co-ordinated contribution"
Dr.Jo Spencer

"Well organized seminar and the timing was perfect.Would like to associate with IBA for such seminars, in future."
Kannan Ramaswamy

"The seminar is organized very well and for wider audience and is timely, considering more and more banks would be joining the RTGS system."
Deepak Mohanty

key address and presentations