MIS full form in Banking refers to the Management Information System in Banks. In simple words it is a type of information on which Management take a decision. MIS reports developed by the IT experts to improving banking business and make many improvements in its everyday business decisions. MIS in Banking very helpful tool to organize and very efficiently manage departments within an organization.
MIS in banking terms refers to any report or a document which is helpful for management to take decision effectively and efficiently. Management analysis banking business data from many angels
Everyday in banks customer deposit money and withdraw money from the banks. There are different type of deposits for different tenure and same way different type of loans given for short term, medium term and long term. This all information is consolidated on daily, weekly, fortnightly, monthly, quarterly, half yearly and annual basis. These all information banks will submit to Reserve Bank of India and other regulatory authorities. All this data built into information system is collectively call as MIS Report in Banking.
MIS Reports not having any kind of formats. Its totally depends on management what kind of reports they want. MIS reports are prepared as per Management need.
MIS FULL FORM IN BANKING
Management Information System
Examples of MIS Report in Banking
1 Deposit Reports
2 Loan Reports
3 CASA Deposit Reports
4 NPA Reports
5 Annual Financial Statements
6 Priority Sector Advances Reports
7 Investment Analysis
8 Credit Analysis
9 Customer Base Analysis
10 Defaulters Analysis
11 TDS Reports
MANAGEMENT INFORMATION SYSTEM HISTORY
MIS full form Management Information System not new to the Banking Sector early 1980s banks are using this terminology to refer to the process of generating various reports to analysis at Corporate Offices for their decision-making process.
The following are advantages of Management Information System
1 MIS is very helpful to Management to take a decision.
2 It will act as communication tool for Management.
3 Its is help to improve the decision.
4 Get to know about feedback given by the customers.
5 By MIS Reports quality of services will be improved.
The following are disadvantages of Management Information System
1 MIS Reports are very expensive.
2 To prepare MIS Reports require time.
3 Main drawback of MIS Report is it is focus on quantitative data not on qualitative data.
4 Management of Company need to have a skill to read MIS Reports.
5 If data collected for MIS Report is incorrect. You can’t do anything. You will get a false MIS Report.
MIS RELATED OTHER FULL FORMS
MIS FULL FORM IN POST OFFICE
Monthly Deposit Scheme
Dear Readers in this article you got to know about the MIS full form in Banking, examples of MIS Reports, MIS History, MIS advantages, MIS disadvantages, MIS related other full forms. Management Information System is end product of Data Warehousing and Mining. If you like to add anything kindly comment. You commented details will be updated in this article.