The Indian banking sector has undergone a transformation. Banks are gradually lowering the number of branches and increased capability in terms of their existing infrastructure, according to Gartner report. Today, big corporate banks are investing heavily in their security infrastructure to strengthen security and surveillance. With the development in surveillance & security infrastructure, along with big corporate banks, government & PSU banks have also decided to achieve integrated monitoring and also adopting and upgrading their security infrastructure.
Governments has also announced a massive capital infusion plan of Rs 2.11 Lakh Crore over the next two years for the public sector banks (PSBs). It can be assumed that the idea behind that would be the lending capacity & to ensure also focusing towards upgrading the security infrastructure. Many public banks are still using outdated security equipment that are playing the roles of passive protectors and may not be able to sense impending danger. Due to government emphasizing on secure India & with the rise of soar competition, PSU banks are looking up in upgrading their security infrastructure in terms of monitoring, surveillance, lockers and automated vaults. PSU banks are benefited with 24 x 7 x 365 remotely monitoring via Central Monitoring System (CMS) for detecting any incident like fire, theft, intruder detection, burglary, vandalism & unauthorized activity with the help of Integrated Monitoring.
It has been observed that after ICICI Bank adopting the automated locker, Standard Chartered Bank has also upgrade it surveillance system in their new Global Business Centre in Bengaluru. Reserve Bank of India has also initiated an exercise of upgrading their security infrastructure in order to secure storage and movement of currency at over 4,000 chests across the country. SBI is also decided to monitor branches in real time with the help of integrated monitoring. Buldana Bank, one of co-operative bank, has been the first amongst the PSU banks to adopt the automated locker system. Hence, it can be seen & predicted that more and more PSU bank would be upgrading their security infrastructure in terms of monitoring, surveillance, lockers & vaults
Regarding the same, Mr. Mehernosh Pithawalla Vice President and Global Head – Marketing, Sales & Innovation, Godrej Security Solutions Division, Godrej & Boyce Mfg. Co. Ltd wanted to share his insights on `How banks are reviewing the current security system and adapting industry best practices and technologies`