“A gap in accounting skills do exist after the adoption of Core Banking Solutions by the Indian banks. This skill gap may lead to a fraud in a bank by a particular employee who understands the system better than others. There are few recent instances of big frauds happening due to this ethics deficit and the knowledge of few ethical staff members bringing these frauds into light, Rabi N Mishra, Principal General Manager, Reserve Bank of India  

According to the officials, having shares in the dematerialised form would also bolster the Know Your Client (KYC) framework for unlisted companies and prevent instances such as pledging of duplicate shares.