The Indian Banks' Association (IBA) has called upon all banks of the country to immediately increase their average spending for information technology. Although, IBA has not officially spelt out the exact amount it has asked the banks to spend towards IT over the year, according to sources, the ideal figure would be three per cent of the total revenue by 2006 and five per cent by 2010. The IBA officials feel that banks should immediately undertake an extensive business process re-engineering and tackle vital issues namely ensuring best delivery of products and services to the customers and designing an appropriate organisation model to fully capture the benefits of technology and business process changes brought about. According to IBA officials, every bank should undertake internal survey to evaluate on how to exploit technology for deriving economics of scale and how to create cost efficiencies. The association has also suggested the banks should create their respective customer-centric operation model.