In order to infuse a spirit of healthy competition and speed up the process of Technology Absorption among the banks of the country, IDRBT instituted the Annual Banking Technology Awards in the year 2001. These awards are the true indicators of technology implementation and absorption in banks and are meant to recognise the efforts of banks aimed at improving customer service, customer convenience and bank's productivity by leveraging technology.
The category of awards has been undergoing changes over the years, in view of the focus of technology implementation at that time and the need to recognize and encourage a particular aspect of technology implementation.
In the initial period, the Awards were given for implementation of branch computerization, implementation of e-mail services, INFINET usage and applications, ATM networks, internet banking, etc. Gradually, newer categories such as Information Security, IT Governance, Financial Inclusion, Analytics and Big Data, Digital Banking, Delivery Channels, Electronic Payments, Cyber Defence, Fraud Prevention, etc., were covered. Extension of technology to semi-urban and rural areas has also been in focus in several years' awards.
Banks are asked to provide detailed information covering both quantitative as well as qualitative aspects in the form of a detailed questionnaire for each award category. The evaluation of these submissions is done objectively by ranking the quantitative aspects as well as assigning scores to the qualitative aspects based on the comparative performance of the banks.
Before calling for information from the banks and finalizing the questionnaire the evaluation parameters for each of the award category are drawn up. Guidance of the Jury regarding their appropriateness and completeness is also sought. Thereafter, detailed questionnaires are framed and sent to all the banks.
Subsequently, an internal evaluation team evaluates the submissions and assigns numeric scores to various banks on different parameters. After completion of the initial evaluation and thorough discussion internally, a shortlist of probable winners in each category is drawn up. This process sometimes also includes the knowledge partners. Subsequently, Jury meetings are held to discuss the evaluations and choose the winners.
The Jury typically consists of four/five members with eminent personalities from the Banking and Technology backgrounds serving as Jury members. The typical composition of Jury is:
The awards are announced and given away at a function held at IDRBT and attended by senior bankers including several CMDs. Normally, the awards are given away by the Governor, Reserve Bank of India. At the award function, the process of evaluation is also explained to the audience either by a member of the internal team or by a member of Jury.
The latest edition of the IDRBT Banking Technology Awards were given away by Dr. Raghuram Rajan, Governor, Reserve Bank of India on July 18, 2016.
Click the listed links given beside for Award Categories and Winners during the various years.