Archive for January 2nd, 2004

What the year 2004 holds for India?

January 2, 2004

What does the New Year hold for India? This is the second part of my take over
the first three days of the year

Indian Banks, including public sector banks will start using technology
like never before
changing the very lanscape of banking in India. ATM will
grow to 50,000 in 2005, Real Time Settlement & T+3 banking could become the
reality. With ASAN (ATM for rural India) from NCR, rural banking will change.
Hopefully technology enabled innovation will help India to mop up the huge
private savings from rural Indians

Insurance sector will see a similar fate awaiting them. Thanks to
networking & technology. Insurance could create 300,000 jobs in one
year
– LIC alone added 100,000 agents last year; others added 200,000
(assuming these figures aremore for 3-year period, we still have createdl ots
of jobs)