The Hindu Business Line : Banks urged to upgrade IT security

CALLING upon the banking industry to strengthen security systems, the Chairman of Institute for Development and Research in Banking Technology (IDRBT), Mr Vepa Kamesam, has cautioned the industry against `inappropriate' technology purchases that could become the root cause for problems later.

He was addressing the participants after inaugurating a Workshop on `The Future of Banking', organised by the ICFAI Business School and the Hyderabad Management Association here on Saturday.

The former RBI Deputy Governor viewed that in spite of the inherent benefits of information technology, both electronic banking and `brick and mortar' banking would continue to coexist.

Referring to the instances of attempts to break into banks by drilling holes in roofs and walls or the cases of `disappearance of hard disks while repairs were being undertaken in computers, he stressed on the need to strengthen the security systems in the banking environment.

Mr Kamesam also stressed on the need to upgrade skills of branch managers, as otherwise they could not exercise proper control on the systems managers. Stating that much needs to be done on disaster recovery mechanisms and backups, he pointed out that a September 11 kind of situation could throw whole systems out of gear.

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