CSI honors HDFC for IT excellence

NEW DELHI, INDIA: The Computer Society of India (CSI) has presented the CSI 2010 awards for Excellence in IT to HDFC Bank in the BFSI category. The CSI Awards for Excellence are given to technological projects and innovation in various sectors like BFSI, Product Manufacturing, Service Sector, Non-profit organizations and Quality Assurance.

According to a release, out of the 143 nominations received, 43 were in BFSI segment and top honor was accorded to HDFC Bank in the BFSI segment for adoption of an effective DR plan.

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The release added that the six CSI criteria for selecting the winners of IT Excellence Awards were criticality of IT usage, improvement of customer service, innovation, return on investment, quality of management, and impact of the project (on organization/society/industry). The evaluation process included two rounds of scrutiny and elimination, followed by presentations by 10 finalists before the jury.

HDFC bank has been an early adopter of disaster recovery (DR) management planning in India. HDFC Bank is among the country's largest financial institutions, with a network of 1412 branches and 2890 ATMs in 528 Indian cities. HDFC Bank may cause systemic risks in the Reserve Bank of India's (RBI) Real Time Gross Settlement (RTGS) system if there is a business continuity failure as almost 40 per cent of RTGS transactions are routed through it. Hence DR management is of extreme importance for HDFC Bank.