MIS in central bank of India

Central bank of India was established in 1911. Central Bank of India provides a wide range of corporate, international & net banking with financial services. It is dealing in complex financial banking services and solutions for the commercial banks of India. The bank was growing at a rapid growth rate as a result it used to face different kind of problems like need to timely submission of financial reports that include income statement and balance sheet, need for inter-branch reconciliation of accounts within a definite time frame, need to undertake risk management strategies and for this purpose build up appropriate set of data and market intelligence reports etc. secondly apart from these reasons central bank was dealing in diversifies services like at the same time it was dealing with businesses, employees, customers etc.

Moreover the bank was providing different complex services like global network, internet banking, ATM in which over 2 million transactions were made daily. So to solve these issues and to maintain a sound banking system in the economy central bank of India implemented an MIS system. Soon after the implementation of MIS the bank was benefitted in many different aspects like now the date is easily accessed and can be analyzed easily, decision making was made easy as accurate and timely decision can be taken now, more over cost was reduced through which overall efficiency of the banking system was increased.