Business Continuity and Disaster Recovery Experience in E-Business in Indian Banks

Business entities today exist in a highly competitive world. Internet banking has now become a global phenomenon. Almost every banking institution all over the world has embraced this technological system of banking due to the numerous benefits it brings, both to the banks themselves and their clients or customers notable among them are convenience and time-saving in doing transactions. The Internet is now being considered as a strategic weapon and will revolutionize the way banks operate, deliver, and compete against one another, especially when competitive advantages of traditional branch networks are eroding rapidly. And yet, the threats of disaster, on account of business interruption, are not extinct – in fact, they have also evolved along with the technology. Business interruption does happen – but what is of significance is, how much of the consequences of such interruptions can the business afford. Business Continuity Planning is the act of proactively working out a way to prevent, if possible, and manage the consequences of a disaster, limiting it to the extent that a business can afford. This paper presents the preliminary findings of a research study to identify the essential ingredients of successful BCM implementation based on experiences of banks in India. The paper outlines the business continuity planning as a methodology that could be used by organizations in order to reduce the risks that occur both at the organizational level and in its outside environment. There are presented the main objectives and steps in business continuity planning process. In the end of the paper are presented some issues that organizations should take into consideration in the implementation of business continuity planning process projects.