The project deals with new innovations in Indian Banking in the new Millenium i.e. the rapid strides that we are witnessing in Indian Banking since 1999-00 on account of the impact of the ongoing reforms.

In recent years, the banking industry has been undergoing rapid changes, reflecting a number of ongoing reform process. The most significant has been far reaching developments in telecommunication and information technology, which have accelerated and broadened the dissemination of financial information while lowering the costs of many financial activities. A second key impetus for change has been the increasing competition among a broad range of domestic and foreign institutions in providing banking and related financial services. Third, financial activity has become larger relative to overall economic activity in most economies. This has meant that any disruption of the financial markets or financial infrastructure has broader economic ramifications than might have been the case previously. "Indian Banking in the New Millenium" is devoted to study the momentous changes overtaking Indian Banking Industry in the New Millenium after the implementation of the Reforms under Second Narasimham Committee Report.

The project covers six modules, the contents of which are as under:

1. Module: 1 - Indian Banking in the New Millenium (4 articles)
   
   The modules introduces the dynamics of Indian Banking in the new millennium. It starts tracing the carried over problems of Indian Banking from the pre-reform era and also gives an account of the progress witnessed in the system in the first decade after introduction of the reform process.

2. Module: 2 - Banking Ombudsman Scheme 2002(3 articles)
   
   Sensing the need for a easy, expeditious and inexpensive mechanism for redressal of unresolved grievances of customers, the RBI initially formulated the Scheme of Ombudsman, 1995, which became operational in June 1995, providing an institutional and legal framework to bank customers to resolve all their complaint The scheme is applicable to all scheduled commercial banks having business in India and scheduled primary co-operative banks except Regional Rural Banks. Fifteen offices of Banking Ombudsman at important centers were set up to cover the entire country. The articles discusses the structure and function of these quasi-judicial bodies

3. Module: 3-Crusade Against Money-Laundering (3 articles)
   
   Money-laundering is a global menace. A decade or so back it was merely a problem of money laundering for conversion of ill-gotten money into clean-cash. Then came extensive use of laundered-money for terrorist activities at several countries of the world against leading western powers. In fact our country is a victim of such terrorists activities for more than two decades. The module discuss the steps initiated in India to check this menace and guidelines by RBI to check money launderers opening bank accounts and misusing bank facilities

4. Module: 4 - Miscellaneous articles (9 articles)
   
   This module is intended to discussed other innovative processes introduced by Indian Banks as per guidelines of RBI, like Corporate Debt Reconstruction, Prompt Corrective Action, Lenders' Liability Code, Scheme of Liquidity Adjustment Facility etc.

5. Module: 5 - Statutory Liquidity Ratio (SLR) & Cash Reserve Ratio (CRR)(6 articles)
   
   The modules deals with guidelines of RBI regarding statutory liquidity & cash reserves to be maintained by Banks as also guidelines regarding non-slr investments by Banks.

6. Module: 6 - Financial Conglomerates (6 articles)
   
   The module deals with Report of the Inter-regulary Group set up by RBI concerning Financial Conglomerates.