Thursday, March 3, 2011

RBI Releases Its IT Vision Document For 2011-17

The Reserve Bank of India (RBI) has recently released the Report of the High Level Committee (HLC) on the IT Vision of Reserve Bank of India 2011-2017. The HLC report includes the IT Vision document for 2011-17.

RBI has set some very ambitious objectives for itself. These include transforming itself into an information intensive knowledge organisation, harnessing human resource potential, migration to enterprise architecture for IT systems, adopting appropriate business process re-engineering, etc.

RBI has also stressed upon improving its IT governance, effective project management, evolving well defined information policies as well as information security frameworks, better vendor management and outsourcing practices.

The Vision Document suggests commercial banks to move forward from their core banking solutions to enhanced use of IT in areas like MIS, regulatory reporting, overall risk management, financial inclusion and customer relationship management.

It also dwells on possible operational risks arising out of adopting technology in the banking sector which could affect financial stability and emphasises the need for internal controls, risk mitigation systems, fraud detection / prevention and business continuity plans. However, concepts like Internet banking cannot succeed in the absence of legal framework in this regard.

According to Praveen Dalal, leading techno legal expert of India and a Supreme Court lawyer, we have no dedicated Internet Banking Law in India. Although, RBI has issued many guidelines in this regard and even our Information Technology Act, 2000 contains some indirect and implied provisions for Internet Banking yet we need a separate and dedicated law in this regard, opines Dalal.

Similarly, the present banking and other technology related legal frameworks are not conducive for mobile banking in India. We do not have a well developed e-governance infrastructure in India. Similarly, on the front of e-commerce as well, India is not much successful.

RBI will begin implementing the recommendations of the HLC shortly. However, commercial banks in India must not wait for RBI’s initiations in this regard. They must start implementing due diligence requirements as prescribed by RBI as soon as possible.

Online Training Of Judges In India

Judges in India, especially those manning the lower courts, are working really hard. At times they do not have time to even brush up their legal acumen and knowledge. Further, news laws are enacted every year by Indian Parliament and unless the judges attend some refresher course on regular basis, these legislations are not known to them.

However, nothing is more missing than the techno legal training and education of judges at all levels. Judges must be aware of not only legal aspects but also of the technical aspects as well. Laws like cyber law are a good example of techno legal field.

In India, there are very few institutions and centers that are providing techno legal trainings and educations to judges. This is because of the specialised nature of the field. Further, there is no framework for continuing legal education in India (CLE in India) or lifelong learning in India for judges or lawyers.

We have a single techno legal research, training and education centre in India. The same is managed by Perry4Law Techno Legal Base (PTLB). It is providing techno legal training and education to judges, lawyers, police officers, public prosecutors, etc in the fields like cyber law, online dispute resolution (ODR), e-courts, cyber forensics, digital evidencing, etc.

To provide flexibility and extensive cyber law training in India, PTLB has also launched an online platform. The online platform of PTLB allows a lawyer, judge, law enforcement officer corporate executive, etc to sharpen their techno legal skills even at the comfort of their home, offices, chambers or corporate room.

Application form for the enrollment to various courses, internships and trainings can be downloaded from here.

In order to get enrolled, you must duly fill the form and submit the same along with the prescribed fees. For more details regarding the fees, duration of courses, natures of courses, etc see the FAQs.

For lawyers and judges, PTLB has launched a separate platform known as Online Lawyers and Judges Training and Educational Centre of India. In short, it is known as Bar & Bench Training Blog that provides meaningful insight to not only lawyers and judges of India but also world wide.

Judges in India need to enroll to such courses as they must upgrade their concepts on regular basis. Further, the legal education policy of India must also incorporate the model suggested by PTLB. Law Minister Veerappa Moily has been taking many good steps for legal and judicial reforms in India and CLE of judges should be a part of the same.