Automated Internal Contro systems without Human Involvement is not good.

As it is the human touch and inter actions with customers are missing in banking and this approach has its own short comings. The blind implementation of KYC norms in banks drives away genuine customers and affects banks business particularly deposits is the ground reality. With the invasion of IT the banks way of doing business has undergone sea change and more innovative procedures introduced under Payment and settlement system using IT the banks have stopped accepting of outstation Cheques for collection and they expect the customers to go in for NEFT or RTGS. The innovations instead of facilitating better convenience have taken away the practices pursued by banks since evolution of banking. Depending fully on technology has its merits and demerits and to enhance the quality of service proper blend of human Resources with Technology is the need of the hour. From this angle the suggestion that automated internal control systems cannot be of much use.

Dr.T.V.Gopalakrishnan
(This comment in response to the editorial stung into action in Business line appeared on21/7/13)