A High powered Committee has also been constituted in the Reserve Bank which has the responsibility to ensure time bound and effective implementation of these recommendations. BIS central bankers’ speeches  7  Conclusion 43. In conclusion, I would like to say that banks need to take a disciplined approach to IT architecture, create standardised platforms, and wring more business value from technology investments.
It is here that IT Governance plays a very significant role. Adoption of appropriate IT solutions for moving towards acquiring information from the customercentric perspective along with account- or product-centric perspective would place the banks at a competitive advantage. The banking industry relies on technology; to run their systems efficiently, effectively and securely as also to move ahead of its competitors.