it is also a question of value judgements. moreover, the political system needs to be sufficiently robust to stand up to pressure when special interest groups and other lobbyists try to secure preferential treatment, not to mention outright corruption. another important matter is to ensure that market systems work properly as regards competition. there are certainly problems in all these respects, not least in developing countries but by no means only there. the problem of which decisions belong to the government sphere as opposed to markets is not confined to the nation state. at the international level there are also differences of opinion as to what should be left to individuals and nations to decide instead of being settled in joint political assemblies. the global level lacks overriding democratic structures that could help to establish common rules that are broadly supported. in the debate on the globalisation process there are also many who consider that the global market is not sufficiently ‘ democratic ’ and that ‘ the struggle is about securing the shared values that transcend economism ’. another criticism is that the poor countries have too little say in the global markets. so what do we mean by ‘ globalisation ’? pope john paul has said that “ globalisation is something that is present in every aspect of our lives ”. others see globalisation as the emergence of a common global culture, perhaps at the expense of national and local cultures. one is inclined to agree with his holiness — globalisation is not a straightforward phenomenon that is easily explained. i would say that globalisation stands for the growing interdependence of individuals and countries that is resulting from the increasingly comprehensive exchange of everything from goods, services and capital to ideas and know - how. defined like that, globalisation is not something anyone would want to abolish but a fundamentally positive process that contributes to an increasingly prosperous world, as well as to the democratisation of a great many countries. that there are problems cannot, however, be denied. they have to do, for instance, with the prevailing conditions for world trade and how the resultant gains are to be distributed. another issue is the free movement of capital, which played an important part in the positive economic trend in the 1990s but has also contributed to a situation where economic unrest spreads more quickly from country to country and is sometimes a major ingredient of financial crises in developing countries. then there is the question of how the international financial organisations have functioned and the problem of debt in certain poor countries. these are some of the issues i shall now discuss. the globalisation

change management strategy and decisions. emerging trends the big bang – mobile banking revolution when it comes to revolution in mobile technology, i think of two types of revolutions. one is the mobile revolution as such and the other is mobile banking revolution. mobile revolution refers to rapid innovations in mobile devices with customers being overwhelmed with a slew of new handheld devices right from google ’ s android operating system, research in motion ’ s blackberry os and apple ’ s latest ios iphone platform, tablet computer etc. mobile banking revolution refers to a buffet of potential services that a banker can provide leveraging on mobile technology. in the usa for example, the value provided by banks with mobiles is the remote deposit capture i. e. where the customers increasingly use online mobile services to deposit paper checks. although it is a driver for mobile banking adoption, increasing efficiency in usage of checks is an important value addition particularly to be noted from the indian perspective. bis central bankers ’ speeches cloud computing – “ pay only for what you use ” it is becoming evident that cloud computing is getting cost effective in setting up it infrastructure. the big and medium enterprises are now migrating to hybrid cloud models. while non - financial industry has taken huge strides in this arena, the banking sector, at least in india, also seems to be moving in this direction. security is often quoted as a concern for the banks adopting cloud computing, but with robust and modern security devices and software available, the bankers ’ security concerns regarding protection of data can be addressed. the cloud concept is here to stay and therefore, the focus should be rather on how to use the technology in a secure manner. virtually automate branch? although the trend towards online banking through internet or mobiles is evident, in a country like india the core of the banking habit is personal banking, meaning visit to the bank branch. hence a parallel shift towards smarter, more efficient, friendlier and more automated brick and mortar experience is the need of the hour. integrating self service capabilities into bank branches would be a smart way. why not make the customers walk virtually into their “ home branch ”? why not think of using collaboration technology to have video chats with the valued customers? this leads me to the next line of thought. how about social media? we have been active in social networking among peer group through various social networking sites like facebook and twitter etc. the customers have been discussing about the services good and bad about their banks and sharing their banking experiences too. but have the banks thought of,