vol. V no. 3 quarterly journal july-September-2009

Computer Security

e-trackbusiness of futuree-track

e-track

July-September-2009

Editor

Pratima Trivedi

Editorial Team

Pramod Dikshit

Ambrish Mishra

Swapnil Srivastava

Sanjay Srivastava

Printed by

Swastik Printing Press

27, Mai Gi Ki Bagiya,

Kapoorthala Crossing,

Mahanagar, Lucknow

Mobile : 9415419300

punjab national bank institute of

information technology

Vibhuti Khand, Gomti Nagar,

Lucknow--226 010 (U.P.)

T : +91 522 2721442, 2721174

F : +91 522 2721201, 2721441

E-mail : bankingtech@pnbiit.co.in

URL : www.pnbiit.com

e-track

“Most of the important things in the world have been accompanied by people who have kept on trying when there seemed to be no hope at all.”

- Dale Carnegie

Thought for the quarter

From the editorDear Readers,

While most organisations today recognise the potential benefits of technology the successful ones are those that can effectively harness technology. Effective harnessing is effective management of two critical components-technology and the information that resides on this technology. Computer security includes protection of information and property from theft, corruption, or natural disaster, while allowing the information and property to remain accessible and productive to its intended users. The article “Glossary of computer security ”covers various sensitive areas relating to computer security.

EASIEST (Electronic Accounting System in Excise and Service Tax) is the procedure for payment of Central Excise duties and Service taxes. In EASIEST, the taxpayer has to submit only one copy of the GAR-7 challan as against the old procedure of giving 4 copies of TR-6 challans in the Bank. From April 1 ,2007 it is mandatory for all assessees paying excise and service tax, totaling Rs. 50 lakh and above annually, to make the payment through e-mode.The article “Electronic Accounting System in Excise and Service Tax” throws light into various details of the system.

There are so many events in one's life when one commits mistakes. No one is complete. There is no one on earth who has never committed any mistake. But has everybody adopted it, as his habit? No. Normally we change it. If we commit any mistake we plead sorry and see that it is not repeated. But our sincere sorry is only effective if we do not repeat the mistake. The article “Repeated Mistakes Becomes Habit” elaborates the issue with excellent examples.

No institution can function without acquiring necessary skill, expertise and knowledge to run the same. It is also true that there should be well honed processes, procedures, system and strategies evolved by the institutions over a period of time, beside expertise and experience of people who have been empowered to run the institution. Micro financing institutions are no exception to this universal requirement for successfully running an institution.The article “Micro Financing institutions need to shed complacency and look for higher technology & expertise to serve the poor with minimum cost and maximum benefit” highlights the issue very well.

“Six Sigma” has emerged as one of the most effective business improvement strategies through knowledge know how to improve, process to do things better, faster and at low cost.The article “Six Sigma: A Boon For Small And Medium Enterprises” elaborates procedure to introduce Six Sigma to small scale sector through step by step process, for achieving efficiency and effectiveness in their working operations.

Hope you find this serving of e-trac interesting and informative.Happy Reading…………..

Pratima Trivedie-mail : pratima@pnbiit.co.in

ContentsFrom Director's Desk 3The Glossary of Computer Security Nidhi Goyal 4 “Electronic Accounting System in Excise....... Dr. Firdos T. Shroff 12Repeated Mistakes Becomes Habit A K Saxena 15Micro Financing Institutions Need To Shed Complacency ...... Dr S N Ghosal 17Six Sigma: A Boon For Small And Medium Enterprises Anchal Singh 22Financial and Technical News 33

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July-September-2009July-September-2009

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Technology has brought about a paradigm shift in the way the organizations

worked till a few years back. Organizations today are dependent on technology right

from the stage of policy making till the implementation of their business plans and

execution of all their business processes. Management of human resources through

HRMS tools, handling business through e-commerce and optimizing customer base

through CRM tools, all exhibit the migration from traditional approaches to

technological solutions.

The ever increasing intervention of technology in day to day activities of banking organizations has

brought about certain ramification affecting the very old existing patterns. While cost of technology

involved in automation of banking operation has been immense (all PSU banks together spending Rs. 15015

Cr till 31/03/2008), its translation into business terms is yet to be measured. Although the Banks together are

showing continuous positive growth in their Asset & Liability portfolio, how much growth has been

contributed by the intervention of technology has yet to be discovered.

Use of technology in Banks has brought about a pressing need for replacing knowledge based

training systems to the skill development institutions. The legacy workforce of the banks were recruited as

bankers who would have never been fit to optimize the technology to the fullest extent. Thanks to the

greatest ever involvement of training departments of the banks who have been deadly busy during last few

years in imparting skill based training to make the existing work force ready, at least for performing simple

menu based operations on the computer. However, with the technology going deep into the transactions on

the electronic platform like RTGS, NEFT, Internet Banking & Debit Cards, the need for recruiting fresh

techno bankers has come up more than ever before.

The situation also demands strengthening of existing IT training establishments as well as building

up of a few more to bridge the skill gap. While all the banks have remodeled their

in- house training establishments to impart basic IT training to their work force, yet there is

requirement of premiere apex level training institutes like IDRBT & PNBIIT, Lucknow, equipped with latest

IT training resources who could impart best of IT training on contemporary Banking Technology.

PNBIIT has started functioning in the year 2002. Since then it has evolved with the evolution of IT in

Banking. Having been dedicated to the entire BFI sector the Institute has imparted training to more than

11183 banking personnel from 33 Banks during last few years. The Institute is marching fast towards

achieving its mission, withstanding the cause of banking sector producing techno bankers & demonstrating

use of IT in BFI sector.

With heartiest greetings for Deepawali to all readers of 'e-track'

Ambrish Mishra Asstt. General Manager

Director's Message

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July-September-2009

Reader's Comments

We appreciate your initiatives in the direction of education and training in banking

technology through the setting up of PNBIIT and publishing of the quarterly journal “e-track” . The articles in the issue, covering direct and indirect effects of use of technology

by banks, are relevant to the banking industry as a whole.

We are glad to note that the journal is being disseminated online through the institute's

website . We wish the Institute and its initiatives all success.

Sambhavi ChandrashekarDeputy General Manager, Reserve Bank of India

The issue of “e-track” is well designed, delightful with articles, features and write-ups

on diverse topics highlighting various achievements in information Technology. Please

accept my compliments.

M .Narendra, Executive Director,Bank of India

The articles of the issue April – June 2009 of “e-track” magazine are nicely prepared,

particularly the article on E CRM, Electronic trading of distressed Bank Loans are highly

informative.

My hearty appreciation for the efforts and looking forward to read more and more

such informative articles from your magazine.

S . Sekar Assistant General Manager,

Karur Vysya Bank

Appeal: As a part of our drive to make the contents of Journal more pertinent and

germane to the readers we welcome articles on latest topics of Banking /

Information Technology. Articles may be of about 1000 words. Published articles

are suitably remunerated.

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Abstract

Antivirus Software

Botnets (short for robot networks)

and official moral code of conduct.

An attempt to write

a comprehensive article Antivirus software is used to on network security is prevent, detect, and quarantine the something like writing a millions or even billions of brief on flying Airliners. viruses, spyware, worms and other Much must be omitted, and yet enough is to be told to softwares that attack the system and also it attempts enable the reader to appreciate the skills required to to repair any file damages caused. It needs to be identify the Achilles heels of the systems. The first constantly updated as one study found that the question that arises is what we mean by "network detection success of major antivirus software Security." Several possible tangents can be explored dropped significantly over a one-year period. within this broad topic, and each is worthy of a

A variety of strategies are applied. Signature-lengthy article. Here, in this article I give a window

based detection involves searching for known view of the terms in network security that frequently

malicious patterns in executable code so as to come up in discussions among the Security

identify corrupted files. But since malware is ever-professionals.

changing, it is possible that a user is infected with To begin, virtually all the security policy new malware in which no signature exists yet. To

issues apply to network as well as general computer counter such threats, heuristics can be used. One security considerations. In fact, viewed closely, type of heuristic approach, generic signatures, can network security is a subset of computer security. identify new viruses or variants of existing viruses Computer security as a discipline was first studied in for looking for known malicious code (or slight the early 1970s, though till today from the home variations of such code) in files. computer user all the way up to the largest enterprise,

The global antivirus market, according to security is an easy thing to push aside. After all, all's

market researchers IDC is slated to reach $7.3 bn in working well and nothing's going wrong right now.

2009.We are simply postponing it. We need to compare

the time & effort to remove a virus, spy ware, or need

to recover data from a backup versus the time & A Bot is a remote control program that user has effort to do just the simplest things to secure your no knowledge of existence. It allows complete computer . The practical networking aspects of control of the compromised system through security include computer intrusion detection, traffic Keylogger, Remote control, Proxy, Spam.analysis, and network monitoring. The art and

If a collection of computers is infected with science of cryptography and its role in providing

such software robots, called “bots,” this collection of confidentiality, integrity, and authentication

computers (each of which is called a “zombie”) is represents another distinct focus and is an integral

known as a “botnet.” Because of the potentially large feature of network security policy. The net as some

size of a botnet, it might compromise the integrity of say has become a country of its own, with no laws,

-Nidhi Goyal The Glossary of Computer Security

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July-September-2009

a large amount of data. Zombie networks have it, or may be highly irregular, making it nearly

become a source of income for entire groups of cyber impossible for an automated program to recognize it.

criminals. The invariably low cost (as low as 100$) It provides a hurdle, which restricts various of maintaining a botnet and the ever diminishing automated programs to sign-up E-mail accounts, degree of knowledge required to manage one are cracking passwords, spam sending, privacy conducive to growth in popularity and, violation etc. This prevents spam from being sent consequently, the number of botnets. PCs not through website forms and ensures that webpages protected by adequate antivirus and firewall like Wikipedia are only edited by humans.software are at greatest risk of being corralled into a

botnet.

A DDoS attack is an attack on a computer

system which aims to force the system into denial of

service, that is, it can no longer receive and process As of 2009, the longest prison term for

requests from legitimate users. One of the most computer crimes—nearly five years—was handed

common attack methods involves sending numerous down to Jeanson James Ancheta, who created

requests to the victim computer, leading to denial of hundreds of zombie computers to do his bidding via

service if the computer under attack has insufficient giant botnets. He then sold the botnets to the highest

resources to process all incoming requests. It like bidder who in turn used them for Denial-of-service

pushing fifteen fat people through a small revolving (DoS) attacks

door, resulting in no one can go across. DDoS attacks

are a potent weapon for hackers and botnets are an

ideal tool for carrying out such attacks. Another type CAPTCHA is not a word itself; it's an

of DoS attack - known as an 'email bomb' - targets an abbreviation which stands for “Completely

organization's servers by sending more email than Automated Public Turing-test to tell Computers and

the systems can handle and can be used as a tool for Humans Apart”. Captcha is program used to verify

unfair competition or be manifestations of cyber that a human, rather than a computer, is entering

terrorism.data. Captchas are commonly seen at the end of

online forms and ask the user to enter text from a

distorted image. The text An Exploit is the technical term for a

in the image may be damaging program that takes advantage of specific

wavy, have lines through weak points called vulnerability in a piece of

Distributed denial of Service (DDoS)

Fig: How botnets work

Captcha

Exploit

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software (for example Buffer Overflows). Attackers the fact that numerous dangerous websites are found

can gain control of an attacked computer via weak in search results and sponsored links are nearly three

points in the operating system or applications. A in times likely to harbor spyware, adware or spam than

an information system is a weakness that an attacker organic links.

might leverage to gain unauthorized access to the The concept of Google Desktop poses risk to system or its data. sensitive data on your system.

Firewall is a filter that will let through only Computers are the desirable interactions. The model is like a defensive pe r fec t p layground fo r medieval castle: these castles had strong and solid hackers. Computers, and walls with slits through which archers could shoot computer networks, are vast arrows. These slits were so narrow that it was almost treasure troves of secret

knowledge. Hackers cheat.

Breaking security regularly involves cheating and

it's how we get better at security. It's only after

someone invents a new attack that the rest of us can

figure out how to defend against it. It's figuring out a

smart card's RSA key by looking at the power

fluctuations, because the designers of the card never

realized anyone could do that. It's self-signing a

piece of code, because the signature-verification

system didn't think someone might try that. impossible to shoot an arrow through it from the

Although many hackers are malicious called outside. Similarly firewall filters all traffic between a

black hats - intending to cause disruption or hijack protected or “inside” network and a less trustworthy

PCs for their own ends - some can simply be out for or “outside” network. They implement a security

the challenge of cracking a particular security policy, which distinguish “good” traffic from “bad”

system. In the corporate world, so-called white hat traffic. Part of the challenge of protecting a network

hackers are even employed to probe corporate with a firewall is determining the security policy that

security systems for flaws - a business known as meets the needs of the installation.

penetration testing.

The name of Google is synonymous with

Instant messaging is an increasingly popular search engines. The amount of data the search engine

method for communicating over the Internet. IM is a makes available to anyone

supplement to and, in some regards, a replacement with a net-connected PC can

for e-mailing. Instant messaging also differs from e-provide extensive information

mail in that messages are exchanged directly almost on an individual or a company.

instantly, allowing for a two-way communication in It poses a security risk due to

Firewall Hackers

Google

Instant Messaging (IM)

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July-September-2009

real-time. As a result IM is increasing in popularity

in both professional and personal applications

User today are aware of the risks in opening

every email attachment that lands in their inbox and

the corporates also have increased e-mail security

making malware writers look for other avenues of

attack. The rise of IM, or instant messaging, has

given them a new target and has led to an associated

increase in the number of security risks like worms, message integrity to solve the second issue, ensuring

backdoor Trojan horses , h i jacking and that sensitive authentication data is never sent over

impersonation, Denial of Service Unauthorized, the network in the clear. By providing a secure

Disclosure of Information and so on.authentication mechanism, kerberos is an essential

part of a total network security plan, providing clear

benefits for both end users and administrators.

It is important to recognize that implementing

Kerberos on your network does not guarantee

perfect security. While Kerberos is extremely secure

in a theoretical sense, there are many practical

security issues to be considered. In addition, it is

important to remember that Kerberos provides only Java introduced the idea of a sandbox: make

an authentication service; it does not prevent non trusted code run inside a protected area which

compromises caused by buggy server software, limits its ability to do risky things. Java already

administrators granting permissions to unauthorized provides security features which are much better

users, or poorly chosen passwordsthan for other languages and systems. There are still

some security concerns with Java. Some of the

facilities are rather rudimentary and not easy to use. This term looks like it's missing an "e", but

Code signing is a hopeless mess. Software bugs very that's how it's spelled. A listserv, or list server, is a

often render the security useless. Digital small program that automatically sends messages to

signatures, authentication and authorization must be multiple e-mail addresses on a mailing list. When

the way to go. someone subscribes to a mailing list, the listserv will

automatically add the address and distribute future e-

mail messages to that address along with all the Kerberos is a network authentication system

others on the list. When someone unsubscribes, the that can help solve those two issues. It reduces the

listserv simply removes the address. At least that is number of passwords each user has to memorize to

the way it supposed to work. Unfortunately, with use an entire network to one, the Kerberos password.

some SPAM lists, unsubscribing only adds you to In addition, Kerberos incorporates encryption and

more lists.

Java Security

Listserv

Kerberos

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Microsoft Outsourced IT

Passwords

Over the years Microsoft's It is a major concern as companies look to

softwares have had security reduce costs based on economic factors in 2009;

holes which have been regularly outsourcing will continue to be an attractive option

exploited by attackers. For many for efficiency gains.

years an embarrassed Microsoft The security risks associated with outsourcing has struggled to up its security are tremendous according to survey data. This credentials. Regular update

patches and more emphasis on security has in

present times reduced its problems but there still are

problems. Adobe, though is now proving to be a soft

target for attackers.

ndIn an article in 'The Washington Post' on the 22 of

July,09 it has been implied that the patched released

for the nine security holes may still have fixed only a

subset of the problem on windows as the problem

probably runs deeper into the code of the libraries

and probably has also been transferred to third party

softwares.

mainly involves the exposure of sensitive Nessus is still information to third parties and the threat that the

t h e b e s t U N I X data will be improperly protected in transit.vulnerability scanner

(free and open source Choice of Passwords causes problems. It is computer program

important to have creative and complex passwords designed to search for that are difficult to crack. Also users should write and map systems for down passwords somewhere secure or to use weaknesses in an password management software so they don't resort application, computer to choosing easy words or using the same password or network) available and among the best to run on for several logins. Newer methods like two-factor Windows. Nessus is constantly updated, with more authentication or human biometrics are encouraged than 20,000 plugins. Key features include remote to deal with this issue.and local (authenticated) security checks,

client/server architecture with a GTK graphical A recent silicon.com leader predicted

interface, and an embedded scripting language for passwords will be replaced with biometrics or other

writing your own plugins or understanding the technology in the long term. Just how long remains

existing ones. to be seen. Various approaches available for getting

Nessus

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passwords are: Trojan horses, packet capture, key patches. However, a technology called root kits

logger, brute force, dictionary attack. threatens to change the security landscape and make

the task of validating that a computer is clean of

malware difficult or even impossible.Learning from previous mistakes is the

obvious way of incrementing security measures.

Many a times Q&A sessions with reformed hackers A spoofed attack is when it is difficult to find

or white hat hackers answering a variety of security the culprit because he has developed ways to hide

questions - from the role of Microsoft to the himself or to make it very difficult to trace. Spoofing

evolution of social engineering and the next big is like playing a con game: the attacker weaves a

security threat act as imperative tools for security false but convincing world around the victim.

reforms. Massive ARP spoofing attacks are done on websites.

"Spoofing" frauds attempt to make surfers believe

that they are receiving e-mail from a trusted source, Rootkits currently

or that they are securely connected to a trusted web represent the greatest threat

site, when that is not the case. Spoofing is generally to PC users. They install

used as a means to convince individuals to give out themselves invisibly on a

personal or financial information by deception.target system and give the

In "E-mail spoofing" the header of an e-mail appears attacker full control over

to have originated from someone or somewhere the system. Rootkits exist

other than the actual source” Page Spoofing" for a variety of operating systems, such as Microsoft

involves altering the return address in a web page so Windows, Linux, Mac OS, and Solaris. Rootkits

that it goes to the hacker's site rather than the often modify parts of the operating system or install

legitimate site. themselves as drivers or kernel modules. Once

installed, clever hiding mechanisms make Rootkits

very difficult or even impossible to detect. If you Twitter is micro-

detect a Rootkit installation, then a new installation blogging. It is social

of the operating system is usually unavoidable messaging. It is an

because you can no longer trust the PC. event coordinator, a business tool, news reporting

service and a marketing utility. Miniature Blog that Statistics show that an unpatched Windows provides micro-blogging is for people who want a XP Service Pack 1 (SP1) machine is infected within blog but don't want to go the long way of blogging. A minutes of being connected to the Internet, and personal blog can keep people informed on what is downloading software or even just visiting certain going on in your life, but not everyone wants to Web sites can introduce undesirable software onto spend an hour crafting a beautiful post about the your system. Fortunately, the defenses against this vibrant colors seen on a butterfly spotted in the front plague are constantly improving, with a sound time. security shield consisting of an antivirus tool, an

antispyware solution, a firewall, and up-to-date Twitter was knocked offline by denial of

Questions

Spoofing attacks

Rootkits

Twitter

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July-September-2009

e-trackthservice attack on the 6 of August, 2009 for a few viruses today run very slowly, as much of the

hours and affected facebook, Live Journal and computer's processor power is busy making money

Google sites. Typically someone who has a bone to for someone

pickup with a particular website or user will

roundup some hijacked PCs and use them to try to

shut the site down.

Huge amounts of

data can be easily

t r a n s f e r r e d u s i n g

storage devices like

USB stick or iPod

without being even

not iced. That can

become a security risk

if a disgruntled insider tries to take advantage of this As the use of Wi-Fi becomes more widespread

by covertly making off with files from the corporate that is spawning rural areas and remote offices, the

network. Viruses and worms can be easily risk to integrity and security of corporate networks

introduced into the corporate network if a user using external wi-fi hotspots to conduct corporate

copies data say from his home network, that even he business is big. Rouge hotspots can be used to steal

is not aware is infected.data from unwary users. Most access points still

have default settings, making them vulnerable to

hackers.Viruses are the oldest form

of damaging software and these

are sadly still a current threat. In R e f e r s t o a

contrast to all other types of security appliance

Malware, a Virus infects a that delivers all the

normal program by injecting its features of a UTM

own code into the normal ( u n i f i e d t h r e a t

program (comparable to a m a n a g e m e n t )

biological virus that injects its solution – firewall,

own genetic information into a human cell). Once VPN, anti-virus, and intrusion blocking – but with

run, the virus attempts to distribute copies of itself extended security, networking, and management

and can cause damage in a wide range of possible capabilities. The goal of XTM is to create an ever-

ways. A Virus usually requires a "host" and cannot expandable network security platform. An

run alone.appliance that is flexible enough to support new

This is often why computers infected with technologies can protect against threats even when

Wireless Networks

USB sticks/devices

Virus

XTM (extensible threat management)

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July-September-2009

they evolve into new forms. XTM extensibility also

tries to ensure that appliances interoperate and

support mixed network infrastructures, giving an

administrator a wide array of configuration options.

Many of the security

problems are caused due to

ignorance or casualness on

the part of the user. Utmost

care must be taken by users when transferring fix the vulnerability. personal information on the networks. Security

problems also prevail due to users behavior like A zero-day vulnerability in the Windows running outdated antivirus software, old operating implementation of Vector Markup Language systems and browsers (which have inadequate (VML) impacts all supported versions of Internet security) just for reluctance to change. Explorer, all supported versions of Microsoft Downloading of files and following hyperlinks must Windows 2003, Windows XP, and Windows 2000, be done prudently. Techniques like Phising thrive and recent versions of Outlook and Outlook exclusively on tricking humans. Express.

Malicious hackers have discovered they can www.securityfocus.com increase their level of destruction by cracking the

www.googleimages.comdefenses of a product on the same day that news of a

www.silicon.comvulnerability breaks and/or an ensuing patch is

Digit vol 9 issue 7released as it usually takes a while for the antivirus

companies to obtain and create a suitable signature. www.wikipedia.comDisclosure practices compel software and security

www.cnetnews.comvendors to publicly announce flaws, which informs

fast-acting exploiters. The resulting zero-day

attacks affect users who haven't applied a patch to

You

Zero-Day Attack References:

Author is computer faculty at PNBIIT Lucknow

“The tragedy of life doesn't lie in not reaching your goal. The

tragedy lies in having no goals to reach.”

- Benjamin Mays

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August 2004, a HPC was set up in code of the collecting branch. A combination of the

the RBI for "setting up facilities for three helps to identify the challan uniquely. The

on-line transmission of Tax Payment Technical Sub-committee worked out the file

Data from Banks to Central Excise structures, the work flow etc. for the on-line

Dept. under the Chairmanship of Shri transmission of tax-data based on the concept paper

J. N. Nigam (Member) CBEC. The submitted by the CBEC.

terms of reference of the Committee included The second HPC meeting was held at RBI on recommending: modalities for dematerialization of 5th November 2004. At the meeting, it was decided Challans, setting up and implementing a fully to start a Pilot at Chennai limiting the Pilot to Excise automated safe and secure system of receipt and in the first phase. Thus, a pilot was started at Chennai transmission of information relating to tax from 17th January 2005 involving 5 branches of payments , new bus iness processes for each of the 8 banks authorized to collect excise at operationalising the scheme, overall policy frame Chennai. A single copy challan with a tearoff work for the industry etc. Members included counterfoil called GR7 was introduced during the Director General (Systems), CBEC, Principle Chief Chennai pilot. Controller of Accounts (CBEC), Controller General

On 1st June 2005, the Pilot was extended to all of Accounts, representatives from Corporate Sector, the 400 branches in and around Chennai, covering RBI and IBA. all the 4 commissionerates in Chennai.

At the first meeting of the HPC on 24th

September 2005, it was decided that the project may

be implemented in two phases viz. the first Excise

and then Service Tax. It was decided to constitute 2

sub-committees: a Technical Sub-committee under

Shri R. N. Ramanathan, DMD, SBI to work out the

technical requirements of the project and a Sub-

committee on Accounting Procedure chaired by Shri

V. N. Kaila, Pr. CCA, CBEC to work out the

accounting procedures for the project.

NSDL was identified as the intermediary for

the transmission of Tax Information. In place of the

quadruplicate, only a single copy of the challan

would be submitted and the tear off portion

containing the Challan Identification Number (CIN)

would be handed over by the collecting bank branch

to the assessee. The CIN number is the unique

identifier for a challan. It consists of the Challan

Number, Date of submission of Challan and the BSR

“Electronic Accounting System in Excise and Service Tax (EASIEST)”

-Dr. Firdos T. Shroff

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July-September-2009

EASIEST process Document : the master, then software to prompt the user to

Capture Name & Address of the Assessee. In Process to be followed at collecting branch :addition, system to ensure capture of Location

·Collecting branches to capture Challan details Code. If the complete Location Code is not

on the date of receipt of the challan available, bank should ensure capture of the

irrespective of Cash or clearing cheques. This first two digit (Commissionerate Code)

will ensure automatic capture of tender date by correctly may be after confirming from the

the system. taxpayer and the other four digits can be filled

·Provision to be made for automatic capture of as zeros. This will enable Commissionerate -the following fields for every challan as a part wise scrolling of challans. of data entry:-

·If the Assessee Code is valid, then the Name 1. BSR Code of Collecting Branch and Address, Location Code etc are to be

automatically be picked up from the Assessee 2. Challan tendered dateMaster and no editing of these fields should be

3. Challan Sequence Number (CIN)allowed.

4. BSR Code of Focal Point Branch.·All other mandatory fields are to be captured

All these fields to be automatically captured on the date of tender. In case mandatory details by the system and should not be normally editable mentioned in challan are not captured, fields. In case of a need to edit any of these fields for software to prompt User to capture same. some reason, it should be possible only on the basis

·Software should have Maker and checker of a supervisor authorization.

feature for data entry. Software should ·Data entry software should identify the generate Challan number (CIN) based on date

concerned Major Head from the Assessee of tender. code itself and the 8 digit reduced account

·At EOD, all realized payments to be compiled codes needs to be selected from pop-up only.

and date of realization for the same will be In case the Assessee code is not available or

captured by the system automatically. For not validated, the software should provide

Cash transactions, cheque realization date to option to select the Major Head and reduced

be the same as date of tender. account code through pull down menu only.

·Each challan will be given a running serial ·System to provide the facility for data entry of

number based on its item number in the scroll. Assessee Code. Once the Assessee Code is

This number is to be allotted while scrolling entered, the same will be validated against the

the challans Commissionerate-wise and Assessee Master provided by NSDL.

Major Head-wise for the day. The item ·Banks should periodically update the Assessee number of the challan in the scroll will be

Master through the patches provided by number and to be captured in the new field NSDL. BR_SCR_ITEM_SL. Physical challans needs

·In case the Assessee Code is not available in to be arranged under the hard copy of the

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computer generated scroll in the seriatim of compiled and main scrolls are to be generated

BR_SCR_ITEM_SL number. Commissionerate-wise and Major Head-wise.

·At EOD, the software to generate daily scrolls ·The Main Scroll number and scroll date

Commissionerate-wise and Major Head-wise. appearing on the hard copy of the system

The scroll number and scroll date appears on generated scroll should be same in the

the system generated scroll should be captured electronic string also.

automatically in the electronic string also. ·Only the branch scrolls against which the This will help in having synchronization of physical challans have been reached the FPB electronic data and physical documents. and verified for its correctness against the

·Subsequently, file to be generated which can corresponding electronic string to be

be transmitted to Focal Point Branch for consolidated to be uploaded to link cell and

further processing along with Physical scrolls then to NSDL.

& challans. ·Hard copy of the System generated Main

scrolls together with the hard copy of

receiving branch scrolls and underlying

physical challans are to be sent to PAO. ·Software to provide only view facility to the

FPB ·Hard copy of the receiving branch scrolls and

underlying physical challans are to be ·System to provide a facility to view scroll arranged under the Hard copy of the Main details and also underlying challans. scroll in seriatim as they appear on the Main

·On receipt of physical scrolls from the scroll before sending the same to PAO.

collecting branches, details of the scroll to be

verified against the electronic data.

·In case of error, erroneous file to be reported ·www.iba.org.inback to the collecting branch and the file

relating to that branch to be withheld.

·Remaining valid and verified files to be

Process to be followed at Focal Point Branch

(FPB) :

Reference :

Author is FELLOW' & Consultant (Faculty), Indian Institute of Banking & Finance &

former Special Executive Officer (Govt. of Maharashtra)

If you focus on results, you will never change. If you focus on

change, you will get results.

- Jack Dixon

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I had a steno. He was very careless, especially What I want to emphasize out of this narration

in forgetting so many things and then on being is that mistakes if continued and committed again &

caught, saying sorry, but without any improvement. again, it becomes our habit. There are so many

One of his habits was forgetting cap of his pen. events in one's life when we commit mistakes. No

Whenever I called him for taking dictations, he one is complete. There is no one on earth who has

forget cap of his pen on my seat, invariably. Any how never committed any mistake. But do everybody has

I did not like his habit. When it happened first time, I adopted it, as his habit. No. Normally we change it. If

sent his pen cap back to his seat, through someone. we commit any mistake we plead sorry and see that it

But he continued to behave like this. I shuck with an is not repeated. But our sincere sorry is only effective

idea. Now onward, whenever he uses to leave his pen if we do not repeat the mistake. If we repeat the

cap, I started going to his seat to give him it back. mistake, our sorry has no meaning and gradually this

This made him uncomfortable. There was a bit of will become our habit.

improvement but not to the desired level. Then I used But now the question is how it affects us. It another idea upon him, which changed his habit once affects our personality. In fact a fundamental for ever. What was that idea? I bought a very good principle of a developed personality is good habits. looking and costly pen on his birthday, as birthday Naturally good habits are liked by all. Bad manners gift. As usual I called him for dictation. He came to are not liked by any body. May it be our home, our my cabin with that pen only. He opened the pen, took society or our office. Bad manners, bad habits do not dictation and left in my cabin as usual leaving his pen contribute in our personality development. A cap. I took it and put it my pocket. The day went off. balanced personality means a person with good At the close of his office, when he did not find the cap habits. Take for example our careless attitude. Why of the pen, he was very upset. I was collecting the one become careless? Have we ever thought about report about missing cap. He ran pillar to post but did it? One becomes careless if he is not pointed out by not succeed in finding out the cap. But he could not others and if one does not take anything seriously. If dare to come to my cabin in the belief that if he says we take everything in joke, we can never be sincere that he has lost the pen cap, which I gave to him as his about our family, our society or about our job and birthday gift, I may mind it, as it was given by me. naturally if we are not serious any where, we will But not finding any way out, ultimately he had to become careless and of course it is going to affect come to my cabin asking me about the cap with a our personality, all the way. A careless person is not guilty feeling. I gave him the cap with an advice to liked by anybody. Personality does not only mean take care. That was perhaps the last day when he good looking. It is god gifted. As far as my look is forgot to keep the cap pf his pen and leave it concerned, I will remain as I have been. But I can anywhere while using it. He amended himself. improve and build a good personality by inculcating

Repeated Mistakes Becomes Habit

-A K Saxena

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in me good habits. A well mannered person is but it pays a lot. Be an appreciator. There can be

welcomed everywhere and anywhere by everybody quoted so many traits which improve and develop

and anybody. In fact our habits are stumbling blocks our personality.

in our personality development. Non repetition of mistake is also a personality

Take for example one's habit of appreciating trait. We should develop in ourselves a habit of

others. Appreciation is a no cost motivator. If we avoiding committing mistakes. Mistake is

have a habit of appreciating others contribution it unavoidable, I agree. But who stops us to improve.

will make our job easy. We shall not be required to Let us inculcate in ourselves a habit of not repeating

push anybody for good work. Everybody does some mistakes, so that these do not become our habit.

of the job on any day which deserves appreciation. If

we appreciate it motivates other to contribute

positively. Appreciation does not involve any cash

Author is Chief Manager at Punjab National Bank

Management Audit and Review DivisionHO New Delhi

The harsh reality of life or call it the bitter truth of lifeEither way the realization dawns when the end is near. A very interesting anecdote.... .......Read on........ There is very instructive incident involving the life of Alexander, the Greek king.Alexander, after conquering many kingdoms, was returning home. On the way, he fell ill and it took him to his

death bed. With death staring him in his face, Alexander realized how his conquests, his great army, his sharp sword and all his wealth were of no consequence..

He now longed to reach home to see his mother's face and bid her his last adieu. But, he had to accept the fact that his sinking health would not permit Him to reach his distant homeland. So,

The mighty conqueror lay prostrate and pale, helplessly waiting to breathe his last. He called his generals and said, "I will depart from this world soon,

I have three wishes, please carry them out without fail." With tears flowing down .Their cheeks, the generals agreed to abide by their king's last wishes..

"My first desire is that," said Alexander, "My physicians alone must carry my coffin." After a pause, he continued, "Secondly, I desire that when my coffin is being carried to the grave, the path leading to the graveyard be strewn with gold, silver and precious stones which I have collected in my treasury.

"The king felt exhausted after saying this. He took a minute's rest and continued. "My third and last wish is that both my hands be kept dangling out of my coffin."The people who had gathered there wondered at the king's strange wishes. But no one dare bring the question to their lips. Alexander's favorite general kissed his hand and pressed them to his heart. "O king, we assure you that your wishes will all be fulfilled. But tell us why do you make such strange wishes?" At this Alexander took a deep breath and said: "I would like the world to know of the three lessons I have just learnt.

Lessons to learn from last 3 wishes of King Alexander... I want my physicians to carry my coffin because people should realize that no doctor can really cure any body. They are powerless and cannot save a person from the clutches of death. So let not people take life for granted.. The second wish of strewing gold, silver and other riches on the way to the graveyard is to tell People that not even a fraction of gold will come with me. I spent all my life earning riches but cannot take anything with me. Let people realize that it is a sheer waste of time to chase wealth. And about my third wish of having my hands dangling out of the coffin, I wish people to know that I came empty handed into this world and empty handed I go out of this world."

With these words, the king closed his eyes. Soon he let death conquer him and breathed his last. . . . If this realisation is taken seriously at the right age, probably the man will not waste his time pursuing wealth,

power etc.

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Indeed no institution can function institutions undertake mass banking and not class

without acquiring necessary skill, banking that most of the modern commercial banks

expertise and knowledge to run the undertake and therefore it has to develop strategy,

same. It is also true that there should processes and also communication language that

be well honed processes, procedures, could be understood by poor people both in

system and strategies evolved by the institutions education and wealth accumulation so that they

over a period of time, beside expertise and could avail the helping hand and fund of these

experience of people who have been empowered to institutions with confidence that they are not cheated

run the institution. Micro financing institutions are and they could pursue sustainable business with

no exception to this universal requirement for confidence and necessary supportive expertise and

successfully running an institution. It is well known funds of these institutions. It is obvious therefore

fact that strategies and systems as well as procedures that these institutions not only fund the business of

and processes evolve over a period of time and the poor but also supplement the lack of expertise

constantly come under review due to change in both in technology and updated skill in the sphere of

knowledge, expertise, technology, culture, and production and also market intelligence with regard

environment both social and physical. to marketing their products at best price and time.

For all these there is not only need to change the

mindset of executives of these institutions but also to

train and equip them with latest technology and It is obvious therefore that there should well

knowledge.defined path of learning for the people who man and

run micro financing institutions. It has been

observed that to make the learning process simple

and easily understood and practiced by any man with However it is interesting to note that to evolve

just average intelligence a distinction at times has simple processes and procedures as well as

been made by some practitioners and consultants in strategies and systems generally need much higher

between the concept of education and learning. degree of intelligence, knowledge, and passion to

Since micro financing institutions cater to the needs innovate and therefore it has been mostly seen that

of masses it has become imperative for these pioneers of these institutions are generally highly

institutions to develop strategies, systems, processes educated and enlightened people and therefore they

and procedures in simple, transparent language as could develop sustainable strategies and systems to

that would be easy to comprehend as well as to make these institutions deliver the objective of

implement by any one with average intelligence and serving the neglected people of the society to help

minimum education. In fact micro financing them to operate as a successful farmer and or

Define the Path

Need High Level of Knowledge

Micro Financing Institutions Need To Shed Complacency And Look For Higher Technology & Expertise To Serve The Poor With Minimum

Cost And Maximum Benefit-Dr S N Ghosal

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artisans. In fact their vision and comprehension of the excitements and challenges that are continuously

the complex problem of poverty alleviation could growing in this sphere of funding the poor to run a

help them to develop institutions empowering the sustainable business.

poor to stand on their own feet and run a sustainable

business without looking for alms and aids from

states. It is true it has not happened everywhere but it

cannot be denied that some visible transformation It would be necessary to educate them

could be seen all around them to achieve the comprehensively not only at their work places and

objectives laid down by the pioneers. This is on their allotted work but also in management

something that has encouraged rapid growth of these institutions where new processes and practices are

institutions almost all over the world particularly researched and put to practice as pilot project. In fact

where large numbers of poverty stricken people live. education is no longer considered as mugging of

thoughts and deliberations of enlightened people but

as a tool to comprehend its application in practical

It is therefore imperative to understand the life. It is therefore increasingly becoming a life or

distinction in between education and learning that visualized case based teaching. In this regard it

often seen to have been emphasized by some would be interesting to refer to money game played

professionals with a strong belief that merely by first year MBA students of Harvard Business

learning processes and procedures would help School as referred by NIALL FERGUSON in his

executives to practice with ease and confidence to recent book on THE ASCENT OF MONEY. He has

operate in their allotted fields of work even without observed that 'it begins with a notional central bank

having any knowledge of how and why such paying the professor $ 100 on behalf of the

processes and procedures have been evolved and government, for which he has done not very

considered best to optimize benefits to poor and also lucrative consulting. The professor takes the

their earnings. It is needless to emphasize that such banknotes to a bank notionally operated by one of his

an approach would soon make them dull and students and deposits them there, receiving a deposit

mechanical and consequently averse to changing slip. Assuming, for the sake of simplicity, that this

pattern of demands arising from growing revolution bank operates at 10% reserve ratio (that is, it wishes

in technology and knowledge. Furthermore it has to to maintain a ratio of its reserves to its total liabilities

be understood that no system, process or even at 10 %), it deposits $ 10 with the central bank and

strategy is permanent in this fast changing world as lends the other $ 90 to one of its clients. While the

both technology and knowledge with regard to client decides what to do with his loan, he deposits

techniques and strategies are fast changing and the money in another bank. This bank also has a 10

hence locking them to learn only the current per cent reserve rule, so it also deposits $ 9 at the

processes and procedures would not help them to central bank and lends out the remaining 81 to

grow and sustain their interests as they would miss another of its clients. After several more rounds, the

Need Dynamic Education Related Learning

Practises

Education And Learning To Go Hand In Hand

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professor asks the class to compute the increase in money and its leverage capability. In fact this would

supply of money.' that is $ 271 ($100+90+81 dollar). help them to develop appropriate strategy to

Through such illustrative cases one could explain maximize the turnover of money and revenue as well

albeit in simple language how modern fractional as benefit large number of borrowers. It is therefore

reserve banking allows the creation of credit and obvious that education with live and imagined case

hence enhanced money power. studies equip the executives with not only to frame

policy, procedures and practices to operate and serve

poor people better as they would be able to

comprehend and assess their needs better and also It is therefore could be seen that the concept of

have adequate knowledge with regard to operation broader money and its leverage though highly

to make it applicable to their target group of people.complex and generally explained in exotic language

however could also be brought out in a very simple

language and also could be easily explained to

executives of micro financing in what way this Moreover learning simply the processes and

concept could be operated to maximize the velocity procedures that are practiced by the financial

and use of money and consequently their own institutions including micro financing will make

earning as well as that of borrowers. No one would them rule based executives. But the economic and

therefore question the need of such knowledge for social environment is becoming highly dynamic and

dealing with money and credit. It is obvious therefore hide-bound system and policy would not

therefore that education and learning could go hand help them to develop innovation in their strategy,

in hand and that too with the desired level of simple system and service and without such changes the

conversational language and avoiding jarring exotic very sustainability of these institutions would be at

language. In fact distinction in between education stake. In fact it is an established fact that these

and learning is fast fading with the growth of institutions have to develop not only extension

emphasis in case based teaching instead of giving services to educate their borrowers to hold their

stress to mugging and memorizing. It is the hands to give boost to their economic activities both

application of knowledge in economic and social in farming and craftsmanship as generally these

activities that is increasingly looked for. people are ill-equipped to run their business as

commercial venture. It would therefore be necessary

to develop adequate knowledge of markets and men

with whom they have been operating. It would It would be imperative for all executives of

therefore helpful if executives of micro financing financial institutions obviously including micro

institutions have adequate knowledge and financing institutions to acquire comprehensive

experience in farming and craftsmanship so that way knowledge with regard to all types of money

they can extend their helping hand and mind to their creation and application and therefore they should

borrowers both in field and market. clearly understand the concept of broad and narrow

Concept Clarification

Avoiding Hide Bound Policies

Need Comprehensive Knowledge

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Short Term Operation

Build Smooth Path Of Learning

Need Transformation Of Pesent Adhoc Lending

Cognitive Traps

undertake viable and sustainable business

It is unfortunate that most of these institutions proposition- farms and or firms. This is perhaps

give stress on lending for short term purposes and easier to think and even propose or promise but need

collect repayment on weekly basis. It is true that genuine passion and active interest of enlightened

there is definite gap even in this area as most of the people to translate this into action.

artisans, traders and farmers do not always get their

short-term funds from the banking system and hence

largely depend upon usurious money lenders and The path of learning has to be smooth so that

therefore the assistance offered by micro financing no one tumbles while treading the path. But

institutions in this area on better terms as compared smoothness depends much on the preparation and

to money lenders obviously has been welcomed by application of latest technology and knowledge. It

such borrowers. But if one takes objective view of would be therefore necessary to visualize the

such development there would be not even an iota of aspiration level of people and the extent of present

doubt that these institutions are also exploiting the knowledge and technology could help them to attain

weakness of bargaining capacity of artisans, traders their dreams. It is obviously difficult task and

and farmers as the interest rates and terms are not therefore needs application of best available

what normally charged/practiced by banks and even technology and knowledge and also passion and

by NBFC. Obviously this approach and strategy dedication to deliver the same to people. Learning

could never be sustainable and therefore it would be curve is also not static but dynamic and therefore

necessary to focus attention to this growing menace strategies and systems also move along with that. To

and develop appropriate strategy to educate/ learn make the learning path smooth and straight it would

the game to become an appropriate agency to be necessary to develop an appropriate dynamic plan

alleviate the poverty of poor people and transform that would not only teach processes and procedures

them as vibrant, active agent to transform their but also bring out knowledge base of such policies

economic condition by enabling them to pursue and help developing and incorporating the changes

viable and sustainable economic pursuits in villages that are feasible and provide high degree of

and towns. satisfaction to their clients- borrowers and

depositors. It would also be necessary to avoid

opaque policies and strategies and maximize

Such transformation would require highly transparency in product and service delivery cost

motivated and enlightened institutions with vision and time.

and passion to build a society where people

howsoever poor and uneducated could acquire

necessary skill, information, and opportunity to In fact some cognitive traps as has been

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mentioned by NIALL FERGUSON in his latest of individual responsibility when in a crowd.

book 'THE ASCENT OF MONEY 'would perhaps

help to develop a smooth path for learning. These It would be helpful therefore to build the path

traps are: of learning avoiding the above traps and creating a

1. availability bias where decisions are taken on good cocktail of knowledge and practice that would

available memories; attract executives to learn and practice with ease and

2. hindsight bias where decisions are based on efficiency. It is obvious therefore that the path of

probabilities of events; learning should be built on latest knowledge base,

with cases both live and visualized to illustrate the 3. induction problem where policies and rules

application of knowledge in practical life by are framed on insufficient information;

building sound strategy and system; policy and 4. conjunction fallacy where an overestimate is

procedure to create a sound and most convenient preferred due to optimism;

delivery model for products and services at least cost 5. confrontation bias where one looks for

and inconvenience. In this regard prime need is to confirming evidence for their hypothesis;

know your customers in as great details as feasible 6. contamination effect where irrelevant but and thereafter get acquainted with the market, its

proximate information influence a decision; nuances, and mood and hence contents of learning

7. heuristic effect where pre-conceived value should deal with these in simple but exhaustive

judgment affect decision making; manner so that even common people could easily

comprehend. Obviously this needs thorough 8. neglect scope where no adjustment is made to

understanding of men and market and that would not avoid possible harms that may arise from the

be feasible as one time exercise as these are highly decision;

complex institution and require detailed and 9. overconfidence in calibrations which leads to continuous study. Hence learning is one time under estimate the confidence interval levels;exercise but should be provided regularly.

10. Apathy of bystander which leads to abdication

Conclusion

Author is retired GM from United Bank of India

“The test we must set for ourselves is not to march alone but to

march in such a way that others wish to join us.”

- Hubert Humphrey

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ABSTRACT

Table No: Qualitative criteria for SSIs

INTRODUCTION

played by them, it is essential to

examine the methodology for Development of Small and Medium enhancing their performance in the Enterprises (SMEs) continues to be the overriding international markets in terms of objective of developing economies; as they have inc reased compet i t iveness become growth vehicles to national economies of reflected in accelerating exports.many countries. SMEs occupy a place of

prominence whether in terms of industrial SMEs are normally called as the engine of

employment, exports and imports and overall growth in developed and developing countries. Like

output. Since the early 1990s they have been in many developing countries, SMEs in India play a

exposed to intense competition due to the very crucial role in terms of balanced and

accelerated process of globalization. sustainable growth, employment generation,

development of entrepreneurial skills and Six Sigma has emerged as one of the most contribution to export earnings.effective business improvement strategies through

knowledge know how to improve, process to do The basic features of SMEs can be analyzed well in

things better, faster and at low cost .After its terms of qualitative criteria since standard

conception at MOTOROLA , many success stories quantitative yardsticks have not yet been decisively

were witnessed by a host of Multinationals .Having established.

seen the success of Six Sigma in large corporation,

we have perceived the Six Sigma roadmap, for

improving the productivity of small organizations

after reviewing an individual's own business

landscape .

This paper is an attempt to introduce Six

Sigma to small scale sector through step by step

process, for achieving efficiency and effectiveness

in their working operations.

Key Words: Six Sigma, Small and Medium

Enterprises, Multi National Corporations.

In today's L.P.G. era globalization has become

an inevitable and irreversible process, it is an

unmixed blessing. Presently, SMEs are grappling

with fast changes at the market place because of the Policy initiatives: The policy initiatives of the transformation of India's controlled economy to a government assisted the SMEs through favorable free market set up. Considering the strategic role policy measures based on the industrial policy

SIX SIGMA: A BOON FOR SMALL AND MEDIUM ENTERPRISESAnchal Singh

Criterion Salient features

Mode of productio n and style.

Low degree of division of labor, craft type production

Management style No professional management and no division between productive and management functions.

Workers and skills. Large share of family members and low levels of education requirements

Product type. Low technology intensity and low production and suppliers

Organization structure.

Relations to employers, customers and suppliers.

Legal status. No Formal registration.

Output markets. Limited within local area.

Input markets. Utilization of locally available resources.

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resolution of 1956. Some of these initiatives have been taken against the backdrop of the SME financing in a

cross country perspective .In view of financial problems , two broad approaches have been adopted at the

national level , viz facilitating access of SMEs to sources of financing and developing new sources .

The history of Six Sigma as measurement standard can be credited to Carl Fredericka Gauss (1777-

1855) during 1920s when Walter Shewhart showed that three Sigma from the mean is the point where a

process requires correction

Six sigma has been recognized as the most powerful management strategy that employs statistical

and no statistical tools and techniques for maximizing an organization R.O.I. (Return on Investment) by

eliminating defects in every process from manufacturing service and transactional process.

According to Montgomery (leading experts in quality engineering)".Six Sigma is perhaps the most

successful business improvement strategy of the last 50 years. The success of numerous MNCs such as

General Electric, Honeywell, Segate, Technology , Caterpillar, Raytheon, ABB can be largely attributed

towards the deployment of six sigma in their business strategy.

James Harrington has defined Six Sigma as simply a TQM process that uses process capability analysis

,a way of measuring progress, {H. James Harrington, “Six Sigma's Long Term Impact”, and Quality

Digest}(June 2001):16.

Table No: 2 Statistics of SMEs in India

THE HISTORY OF SIX SIGMA

Source: Ministry of Small Scale Industries, Government of India.

Comparative growth of SME And Industrial Sector

Percent

Year

No. of units (Million Nos.)

Production (Billion Rs)

Employment (Billion Rs at

current prices)

Export (Billion Rs.

current prices)

SME Sector Industrial Sector.

1996-97 8.62 1684.10 20.60 392.70 11.29 6.00

1997-98 8.97 1891.80 21.30 444.42 9.19 6.70

1998-99 9.34 2129.01 22.10 489.79 7.84 4.10

1999-00 9.72 2342.05 22.91 542.00 7.09 6.70

2000-01 10.10 2612.89 23.90 599.78 8.04 5.00

2001-02 10.50 2822.70 24.90 697.97 6.06 2.70

2002-03 10.95 31199.3. 26.01 712.44 7.68 5.70

2003-04 11.39 3577.33 27.13 860.13 8.59 6.90

2004-05 11.86 4297.96. 28.25 1244.17 10.88 8.40.

2005-06. 12.34 4978.42. 29.49. ---N/A 12.32. 8.10.

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OVERVIEW OF SIX SIGMA

Chart No: 1 Diagrammatic representation of

“SIX SIGMA FOR SMEs”

SIX SIGMA FOR SMEs

·Control. (MAIC).It links in a useful ways

statistical and other tools that have been found Six Sigma is a business improvement to be effective in improving process.approach which aims at eliminating all the possible

cause of defects involved in the business process and Small business generally faces financial

concentrating on outputs that are vital for the constraints that limit their ability for implementing it

customers which results in increased customer as being implemented in large organizations.

satisfaction, and the bottom line is affected through They don't have excess cash reserve to cost savings and increased revenue. It is an earmark for the massive training programs approach for quality improvement that strives for employed by the large corporations. Small business perfection and aims at eliminating all the defects in generally can't afford to employ skilled Master the process of production, company's functions and Black Belts as personnel's. Beside s they don't have industries. experts to step into the role of Black Belts without

It guides the future investment plans as it aids extensive training.

an individual in the core performance issues. It has

both management and technical components. By

implementing this mantra the organization benefits

in terms of cost savings, better customer satisfaction

and process, as well as performance in the areas of

environment and employment issues.

Six Sigma also provides a process

measurement scale .The methodology utilizes

“process sigma” as a measure of process capability

with a Six Sigma process having a defect level of 3.4

ppm and a 3 sigma having a defect level of 66, 807

ppm (Harry 1998).

There are three aspects of Six Sigma that are

new as compared to past approaches.

· While designing a Six Sigma framework for There is an integration of the human and

the SMEs many positive characteristics are taken process elements of improvement.

into account by the Quality Associates so as to speed ·Clear focus is made on getting bottom line up the structuring of an effective Six Sigma Quality results ($).Management System (QMS).There are certain ·A method that sequences and links critical factors which are taken into account for improvement tools into an overall approach. framing a suitable Six Sigma Quality Management Mainly four phases are involved in System for the SMEs. These projects should be improvement of process.derived from our business strategic plan which ·Measure depicts the organizational goals.

·Analyze Many large organizations increasingly depend

·Improve and

Control Audit Projects Results and Apply Continuous Improvement

Measures Strategic Planning & Define Six Sigma Projects Competitive Benchmarking

Analyze Develop Project’s

Scope/Team.

Improve (Leadership)Review Projects Support Projects.

Six Project Customer Management Process Human Resource Develop ment Education and TrainingQuality Tools Information and AnalysisSuppliers Management

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on SMEs for a wide range of high quality products entering .Smaller and mid sized companies to

and serviced at low cost. As many of them operate implement at a pace where they can actually digest

their business process at the two or three sigma the methodology and achieve, benefits, without the

quality level, an improvement of even one sigma significant resources commitment and overhead

represents a huge step in improving customer's s t ructure of the t radi t ional Six Sigma

satisfaction and reducing costs. For instance, if a implementation approach.

customer order fulfillment process is operating at Six Sigma consists of both management and three sigma level (i.e. 66800, defects per million technical components. On the management side, it opportunities) and we improve the level of four (i.e. emphasizes on getting the right process metrics and 6210 defects per million opportunities); this would goals, the right projects and the appropriate realize a ten fold improvement in performance. It is personnel to handle that project and use of also appropriate for smaller companies therefore management systems for the completion of the traditional Six Sigma improvement process needs to project and earning gains over the time, whereas on be modified for SMEs. The Six Sigma process also the technical front it focuses on enhancing process works well in billion dollar corporations as well as performance by reducing the variations using $50 million privately owned companies. Infact the process data, statistical thinking and methods.result are much quicker and more visible in SMEs Measure: Here the existing systems are measured but due to paucity of funds, they would deviate from and potential critical process/ products identified the traditional role of black belts. and described the potential systems. Valid and

SMEs should decide the right projects and reliable metrics are established which will help in right selection process so that the companies limited monitoring the progress of the process / functions.resources are effectively utilized. It is beneficial for

them to establish a proper communication channels

between managers and employees. On the basis of

business goals, senior management defines the

scope of each Six Sigma project for organizing it

suitably. While the projects are under progress they

are reviewed regularly so that necessary technical,

political and financial aid can be provided. After the

projects are over senior management audits the

project's results and establishes the necessary

systems improvement for continuously adjusting

the business strategic plans.

For managing a Six Sigma quality system,

each critical factors should be implemented through

mapping of the Six Sigma MAIC (measure, analyze,

improve and control) discipline into its routine

process.

There is a Six Sigma deployment model for

(A) MEASURE

DEPLOYMENT OF SIX SIGMA

Leadership For quality improvement programme management provides personal leadership and commitment.

Customer focus.

For targeting potential market segments and customers. marketing

/

sales and customer

satisfaction information is used to Education and

training

Education system balances short term and long term organizational and employee needs.

Information and Analysis

For facilitating job performance quality tools are identified.

Process Management

Key business process are identified, improved and monitored.

Strategic Planning

For ensuring quality improvement a quality steering committee is established for developing short term and long term strategic plans.

Supplier Management

Key performance requirements are incorporated into suppliers’ process management.

Quality tools.

For facilitating job performance quality tools are identified.

Human Resource Development.

For measuring employee satisfaction various methods are designed and used.

Competitive Benchmarking.

Marketing, new technology and compet itor benchmarking information is obtained.

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Measure Phase

(B) ANALYSE

Analyze Phase

ØSenior management plays a critical role in the deployment of Measure phase. Thus for implementing

the whole process there is a need of development awareness and commitment of resources. The phase

should be developed as follows:

The Six Sigma must be driven from the top level management by employing appropriate resources with

commitment.

ØTeam up with other facilitators

Assistance from various outside personnel's can be made so as to assure readiness for the

implementation.

ØTraining needed

Senior officials should be imparted with a requisite training so as to gain an insight regarding the

benefits of Six Sigma implementation.

ØSchedule periodic senior management reviews

During the initial stages in defining, developing and implementing it is vital that senior management

should frequently review the quality facilitator.

.

The main objectives of the second phase are to identify the gaps between current processes

performance and businesses goals and to fill up the concerned gaps. Systems are analyzed for identifying the

gaps between the current performance of the system or process and the desired goals.

Leadership Employees are provided with information’s related with organizational policies and performance expectations.

Customer focus For improving the overall organizational performance customers’ complaints are aggregated and analyzed.

Education and training Management and employees are trained for obtaining problem –solving skills and equipped with quality related knowledge.

Information and Analysis Measurable units are analyzed and linked with work units and functional –level operations.

Process Management Statistical techniques are used for detecting variances.

Strategic Planning For every business unit strategi c plans are translated into executable action plans and these plans are evaluated through various measures.

Supplier Management Working with suppliers towards long –term partnerships. Suppliers are selected keeping in view quality aspect.

Quality Tools Employees and management are trained regarding quality tools.

Human ResourceDevelopment

Recruitment plan is aligned with strategic plan.

Competitive Benchmarking Benchmarking information is analyzed and used to identify strategic opportunities.

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July-September-2009

Improve

Control

(C) CONTROL

Control Phase

For meeting the customer expectations process are modified and the revised outcomes are measured.

Here the new systems are controlled and improved systems are institutionalized by modifying policies,

procedures, operating instructions and other management systems.

Through the following table, the procedure can be deduced for the deployment of Six Sigma MAIC

discipline into each individual critical factor of your Six Sigma QMS.

The main objectives of the fourth phase are to assess profits of each project for improving the processes

performance, determine the success level of each project and continuously adjusting the business strategic

plan.

ØAudit the projects' results.

When the projects are over the final outcome are audited by the senior management.

ØMaintain the improved systems:

Institutionalizing the improved system by modifying policies, procedures, operating instructions and

other management systems.

ØApplying the incentive /reorganization system.

Based on the project performance, the appropriate incentives and reorganization will be applied to the

project team members.

Leadership Here Management audits the execution of results of each action.

Customer focus Measurement is made of customer satisfaction customer satisfaction.

Education &Training. Management evaluates the performance and process of the training system.

Information and Analysis

For monitoring improvement activities information activities results are used.

Process Management

For controlling and evaluating improvement process work unit performance measures are identified.

Strategic planning

Define performance measureme nts for tracking progress relative to action plans.

Suppliers Management

Suppliers’ quality performance levels are measured and monitored.

Quality Tools.

Quality tools are used in management process.

Human ResourceDevelopment

The measures for employees ’ performance are clearly defined and have been communicated.

Competitive Benchmarking

The process of selecting benchmarking information is evaluated.

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ØApply continuously improvement mechanism:

The strategic plan and the related action plans should be revised according to the project performance

subsequently new Six Sigma projects would be derived from the revised strategic plan.

Indian SMEs too face challenges in accessing adequate funds on time from the banks and financial

institutions. Only 17% of the SMEs are able to avail the facility of institutional finance and a large chunk

depends more on internally generated funds / or informal financing channels for their expansion and

modernization requirements .Apart from that they have to face global competition due to the integration of

global economy , lack of infrastructure and obsolete technology , retention of good quality manpower and

asymmetry of information .Its very difficult on the part of banks in assessing credit requirements of SMEs

,as they possess information asymmetry, multiple segments, multiple needs , lack of transparency and have

limited financial disclosure in the financial statements maintained by them .

The challenges which are being faced by the small and medium scale sector (S.M.E) are briefly set out

as follows

ØInadequate access to finance due to lack of financial information and non-formal business practices.

ØSMEs also face fragmented markets ion respect of their inputs as well as products and are vulnerable

to market fluctuations.

ØInaccessibility to enter international and inter state markets.

ØMoreover, they also face considerable delays in the settlement of dues /payment of bills by the large

scale buyers.

These hurdles can be removed to a great extent if the bottleneck problem of finance is taken care of.

Therefore proper assessment of SMEs credit need and proper analysis of their balance Sheets –

interfirm and inter-size comparisons, etc, is not possible in a cost effective manner in the absence of

information. The inherent characteristics of SMEs like multiple segments and needs, fine granularities

PROBLEMS FACED BY THE SMEs

Inadequate

access to finance

Inaccessible to private. Equity and

venture capital

Vulnerable to market

fluctuations

PROBLEMS OF SMEs

Lack of product and technology innovation

Lack of awareness of global best practices/.

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July-September-2009

among them due to different combinations arising out of ownership , regional , industrial , product and

process , etc further aggravates the situation of liquidity crunch being faced by them .The banker will

undeniably have a tendency to concentrate his energies on the larger ticket size. While on the one hand the

lenders don't have adequate knowledge about them. Moreover, SMEs are not abreast with the latest

happenings in the finance world, besides dearth of knowledge of suppliers and a customer also adds to the

problem. The credit needs of the SMEs depends on the ability to procure orders and fulfill them in time, and

here Chartered Accountant play an indispensable role helping them to comply with all the required

formalities.nd

However, the Micro, Small and Medium Enterprises Development Act, 2006, operational from 2

October 2006, is a landmark step by the Central Government of India for the promotion and development of

micro, small and medium enterprises. In the present global era it will enhance the competitiveness of such

enterprises and will facilitate timely recovery of dues of micro small enterprises along with interest in case

of late payment by the buyer.

Six Sigma is surely one of the most comprehensive approach for a company's development and

performance, improvement of product and process .Small and Medium enterprises, functioning with

relatively obsolete technologies and modern ones are run by innovative techno-entrepreneurs and which are

operating in new industries offered by globalization, appropriately and therefore prosper rapidly. A major

proportion of the them suffer due to obsolete technology which will act as a constraint in exploiting the

opportunities presented by globalization. Further, a considerable number of these entrepreneurs would be

either less qualified or lack entrepreneurs both resources. To stay competitive, SMEs can no longer compete

on cost efficiency whereas; they should try to upgrade their capabilities whether in terms of manpower,

implementing robust system, process and practices.

During the20th century astounding growth has occurred in business particularly in MNCs. They produce

PROSPECTS AND CHALLENGES FOR INDIAN SMEs

Information asymmetry

Low

Collaterals Lack of credit

appraisal, risk

mgt, monitoring tools.

Lack of Alternate avenues.

Risk Perception

Reasons for low share in Bank Credit

Low share of bank credit

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July-September-2009

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bulk of manufactured goods and dominate much Besterfield Glen H. “Total Quality

of the world's economy , employing millions of Management “Pearson Education pp158

workers and influencing a major part of Second Edition 2006.

consumer choices .Moreover, due to globalization ·Jugale, V.B. and Jugale , Y.V. “Rethinking and liberalization coupled with W.T.O. regime, Globalization Vol-I “The State of Indian Indian SMEs have been passing through a Economy”, Serial Publications , New Delhi, transitional period . First Edition 2006.

From the foregoing discussion it can be ·“Next Frontier for precision Engineering for observed that globalization has become an SMEs”, Productivity News, Vol.44, no.2pp

ndinalienable part of our lives, therefore it has 23, 2 March –April 2006.become vital for an enterprise to carry out changes ·Sumathy Mand Raj Kumar K.P., “Emerging in order to survive and prosper. Country would be Trends in SME Sector, “Productivity News better served if the government takes note of Vol-44, Nov-Dec2006.chronic weakness that holds back the SME sector.

·Management Improvement in SME, To stay competitive , SMEs can no longer compete

“Productivity News”, Vol-44 Nov-on cost efficiency .Instead , they should upgrade

Dec2006.their capabilities ,in manpower and innovations

·Rani Uma, “Export Potential of SSIs in and put in place robust system , process and

India: A Study”, Southern Economist”Vol-practices .This also helps them spread costs and

th46 no.10 15 Sep 2007. risk and gains , greater access to technologies and

·Anotony, Valasamma, “Small Scale Sector markets. We can say that those SMEs who have a at Cross roads: An Overview”, Southern strong technological base, international business

thEconomist, Vol-46.NO.6 15 July 2007.outlook, competitive spirit and willingness to

restructure themselves shall withstand the present

challenges and come out with flying colors. ·R.B.I. circular financing on financing SME.

·http://www.bizbeginners .biz/India html.

·http://www.vedamsbook.

·Ruddar, Dutt, Sundharam, K.P.M., “Indian · http://www.dsir.nic.in/reports/unitscon/chap.

Economy”, Sultan Chand and Sons, New ·http://www.ingentaconnect.com.Delhi2006. ·http://www.jobfunctions.bnet.com

·Raj Dev, “Globalization and Decentralized ·http://www.sixsigma.com/library/contextE c o n o m i c D e v e l o p m e n t ” , R a j a t

·http://www.inggentaconnect.com/search.Publication, New Delhi First Edition 2003.

·http://www.inderscience.com/search/index.·S h a r m a , M a n o r a n j a n , “ To w a r d s

·http://www.bankindia.comUnderstanding Globalization Process”,

·http://www.indiabudget.nic.in Batcha Aman, “Leading Issues In Indian ·http://www.pqa.net/ProdServices/ Economy” Atlantic Publishers and

sixsigma/W06002007.html.Distributors, New Delhi.2005.

·Bester field, Dale, Beterfield Michna Carol,

CONCLUDING OBSERVATIONS Articles

Websites

REFERENCES

Books

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July-September-2009

Book ReviewIf God was a Banker

by Ravi Subramanian, Rupa & Co. (pp260); R.195

Reviewed by Sanjay Srivastava(Librarian) PNBIIT, Lucknow

'If God was a Banker' is debut novel of Ravi

Subramanian's, which is certainly an engaging tale

of the trails and tribulations of the management

gurus and banking pundits. The spotlight has been

rightly beamed on the entry of the foreign banks in

India and how the large Indian population was lured

into the present regime of pelf and materialism.

Undoubtedly, the entry of such culture of bank loans

for vehicles, houses and home appliances and the

introduction of plastic money, the living standards of

an average middle class Indian have definitely

undergone a metamorphosis. The several brains that

worked behind this process have been effectively

communicated to the reader by the author.

Well, anything good has a downside also. The murky

and devious sides of such deals and the dedicated

approach of two of the fresh graduates from

management school lay thread bare the life behind his imperious nature and misdeeds but walk without

the ornate façade of highly paid, flamboyant, punishment. Aditya Rao, an elderly character who

extravagant and glamorous profession. Two young plays Godfather to these two protagonists extends

management graduates, with nothing similar in his helping hand to Srivastava for his intrinsic talent

family backgrounds and temperament, join the and intelligence.

International Bank on the same day and take two The author has written this book in smooth and

entirely different routes to success. Both rise up the simple language and recitation; probably for

ranks at breakneck speed: the fast and aggressive puritans. Nevertheless, the author deserves hearty

Sundeep, who will stoop to anything to get ahead, congratulations for making the reader walk

and the mature and sensible Swami, with a high successfully though the world of money, Personality

regard for good old ethics.clashes, family swings, business flings with

What all could come with power, position secretaries, fun and lethargy at the company's

and wealth? Deceit, women, ambition, frustration, expense, extravagant dance parties, insomniac

pressure, success and failures interfere in the lives of business deals, shrewd business intellect,

these two youngsters. Notwithstanding these, they workaholic lifetimes and millions of dollars is what

surge forward to success and how they manage it is this book talks about.

narrated by the author lucidly. The novel travels

from Chennai to Mumbai, Delhi, Kolkata to New

York and London. Finally Sundeep is grilled for all

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Financial and Technical News

1) India to have 3rd largest number of Internet

users by 2013 Times of India Lucknow( 27.07.09)

The number of internet users worldwide is

expected to touch 2.2 billion by 2013 and India is

projected to have the third largest online population

during the same time, says a report.

"The number of people online around the world

will grow more than 45 per cent to 2.2 billion users by

2013 and Asia will continue to be the biggest Internet

growth engine.

"... India will be the third largest internet user base

by 2013 - with China and the US taking the first two

spots, respectively," technology and market research

firm Forrester Research said in a report.

Globally, there were about 1.5 billion Internet

users in the year 2008.

Titled 'Global Online Population Forecast, 2008 to

2013', the report noted that emerging markets like India

would see a growth of 10 to 20 per cent by 2013. The report said apart from China, other Asian "In some of the emerging markets in Asia such as

countries with substantial online growth rates include China, India and Indonesia, the average annual growth India, Indonesia, Pakistan, and the Philippines. rates will be 10 to 20 per cent over the next five years

"By contrast, growth rates in some of the more (2008-13)," the report said. India's number of Internet mature markets such as Japan and South Korea will rise users was estimated to be 52 million in 2008. by less than two per cent each year," it added. In the next four years, about 43 per cent of the

2 Now, send e-mail greetings to loved ones from Internet users globally are anticipated to reside in Asia beyond the graveand neighbouring China would account for about half of

New range of internet services have made it that population. possible for users to now send e-mail greetings to their "... the shifting online population and growing loved ones from beyond the grave.spending power among Asian consumers means that

These online services are being used to send Asian markets will represent a far greater percentage of birthday wishes to friends, congratulations on a the total in 2013 than they do today," Forrester Research graduation, and to keep spouses happy.Senior Analyst Zia Daniell Wigder said.

Before they die, internet users can programme the According to the report, the percentage of internet sites to fire off posthumous e-mails on key dates each users in Asia would increase to 43 per cent in 2013 from year.38 per cent in 2008.

People using these services can even set up their "The percentage of the global online population own online memorial in advance.located in North America will drop from 17 per cent to 13

The messages go live when the website is alerted to per cent between 2008 and 2013, while Europe's share a subscriber's demise.will shrink from 26 per cent to 22 per cent.

According to reports, these websites are part of a "The percentage of those in Asia will increase from growing trend for "digital wills".38 per cent to 43 per cent and Latin America will remain

Though not legally binding, the online wills are steady at about 11 per cent of the global total," Forrester

noted. aimed at ensuring that next of kin can gain full access to a

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July-September-2009

dead person's musings on sites like Facebook and no bank account.

Hotmail, as well as passwords for internet banking and Mobile financial services is expected to

other e-documents. mushroom over the coming years with the number of

One Simon Gilligan, 63, from Littleport, global mobile banking transactions predicted to ramp up

Cambridgeshire, has made a digital will on from 2.7 billion in 2007 to 37 billion by 2011, according

lastmessagesclub.co.uk, which launched this month, in to recent research - driven largely by take-up in the

tandem with a paper will. developing world.

"It has things like personal messages to my wife According to Nokia, the new

and children and various details of my bank accounts, e- service will allow users to make person-

mail and my Facebook account," Times Online quoted to-person payments using their mobile as

him as saying. well as pay bills and buy goods and

"I did it because I have heard of situations where services.

people have died and it has taken a long time to get the Nokia Money is based on

information. This will make it easier for my wife and Obopay's payments platform - a

children. company Nokia invested in back in

"I would definitely consider setting it up to send March - and is expected to go live early next year.

another e-mail out to my family on a birthday. That Source : www. Silicionindia.com

would choke everybody up," he added.

Source- in.news.yahoo.com Google has fixed two high-severity vulnerabilities

in the stable version of its

Mr. Nagesh Pydah Executive Director, Punjab Chrome browser that could have

National Bank, India launched PNBIL Online Deposit let an attacker remotely take over

Scheme on 18 August 2009 to send Money from UK to a person's computer.

India . With one attack on

PNBIL is a UK incorporated banking subsidiary of Google's V8 JavaScript engine,

Punjab National Bank, India (PNB). PNBIL is malicious JavaScript on a

Authorized and Regulated by the Financial Services website could let an attacker gain access to sensitive data

Authority. PNBIL is a member of the Financial or run arbitrary code on the computer within a Chrome

Ombudsman Service (FOS) and the Financial Services protected area called the sandbox, Google said in a blog

Compensation Scheme (FSCS). PNBIL is authorized post Tuesday. With the other, a page with XML-encoded

for accepting deposits by the Financial Services information could cause a browser tab crash that could let

Authority (FSA). an attacker run arbitrary code within the sandbox.

Chrome 2.0.172.43 fixes the issues and another

Nokia is hoping to cash in on the mobile financial medium-severity issue. Once Chrome is installed, it

services market with the launch of Nokia Money. retrieves updates automatically and applies them when

The service people restart the browser.

w i l l g ive u se r s Google won't release details of the vulnerabilities

access to "basic until "a majority of users are up to date with the fix",

financial services" engineering program manager Jonathan Conradt said in

and is aimed at the the blog post.

billions of people Source www.siliconindia.com

around the world

who currently have

Google fixes two major vulnerabilities in chrome

PNB launches PNBIL Online Deposit Scheme

Nokia launches Nokia Money

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It is not about letting your customers know how much you know; Its about letting your customers

know how much you care”

PNBIIT organized seminar on CRMand Business Intelligence

Information Technology has brought about a paradigm shift in the way we serve the people. An innovation

through the support of technology has given some organisations a competitive edge. Keeping this in mind, Punjab

National Bank Institute of Information Technology (PNBIIT) has been conducting various training programs,

seminars and workshops on banking, finance and insurance with information technology as the mainstay.

As a sequel, PNBIIT has organized a seminar on

There were three speakers for the captioned

subjects. Namely

Shri Gupta, in his key note address said there were many definitions for CRM and all of them were by and large

correct. It was important that the client not the product was in the centre. He told that the CRM definition we should use

the following -

Mr. Gupta also shared his pragmatic approach of Banking CRM in an informal conversational style with the

participants belonging to various other public sector Banks. His practical recommendations, to the participants of

banks that are planning to implement CRM in their respective banks shortly, will go a long way.

Dr. Ankit Mehrotra , expressed his academic views about the CRM. He apprised the members that CRM was

much more than a technological solution. It was a strategy amalgamated in the business model of the banks and clearly

focused to value generation. He further said that CRM was a key element of differentiation that led the Banks develop

its customer base.

Mr. Ambrish Mishra addressed the issues related to the implementation of the CRM in Banks and the

challenges associated with it. He also narrated the importance of data cleaning and MIS correction in CBS data as also a

need for obtaining Customer Information in war footings and capturing the same in database in systematic and

sustainable manner.

Mr. Pramod Dikshit, a techno-academician explained that Technology was the nucleus of CRM that was

evolving into a commodity piece within CRM strategies. He also threw light on the importance of clean and accurate

data in the historical databases i.e Data Warehouse from where CRM gets emanated in the form of Business

Intelligence.

Mr. Kamal Kant, The Chief Manager, PNBIIT Lucknow concluded and summed up the pogramme.

CRM and Business Intelligence on 26 September 2009. The

Seminar was inaugurated by Mr. B L Gupta., Circle Head, PNB Lucknow

Dr. Ankit Mehrotra from Jaipuria Institute of Managemnt, Mr. Ambrish Mishra , the Officiating

Director PNBIIT and Mr. Pramod Dikshit , Deputy Director(IT) from PNBIIT Lucknow.

“Having the right offer for the right client, at the right time via the right channel”

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July-September-2009

punjab national bank institute of information technology, Lucknow

AnnouncesADVANCED DIPLOMA IN BANKING TECHNOLOGY

FOCUSED ON INFORMATION TECHNOLOGY & BANKING

PNBIIT has been established by Punjab National Bank (PNB) as an autonomous society registered under Societies Registration Act to promote Training and Education in BFI sector with a focus on IT.

The ever changing IT based Banking environment now requires IT officers with knowledge of both IT as well as Banking, Banks have been finding it difficult to recruit such resources with this ideal combination in order to bridge this gap PNBIIT offers Advanced Diploma in Banking Technology.

Six months campus based studies.Industry based focus course curriculum.Faculty resources with sound industry exposure.Strong industry academic interface.

OBJECTIVES :

PROGRAMME AT A GLANCE :l

l

l

l

ELIGIBILITY :

GENERAL INSTRUCTIONS :

MCA/BE / B. Tech (Computer Science Electronics and Communication or IT/M.Sc. (IT) with minimum 55% marks.Age : Should not be more than 26 years of age as on 01.10.2009

The application form alongwith the brochure may be obtained from the Institute by depositing / sending a Demand Draft of Rs. 100/- in favour of PNBIIT payable at Lucknow or d o w n l o a d e d f r o m w e b s i t e

The applicants may visit the Institute's website for more detailed information.

www.pnbiit.com.

Vibhuti Khand, Gomti Nagar, Lucknow-226010 UPPh.: 0522-2721174, 2721441, 2721442 Mb. 09335925126 Fax-0522-2721201

website www.pnbiit.com E-mail : bankingtech@pnbiit.co.in

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