Conclave on Indian Banking Vision 2010
It is said that banking sector is the backbone of any economy. The stronger and efficient the banking sector in an economy the easier can business take place, the more attractive the market is for companies and more beneficial it is for the consumers. And in today’s dynamic environment where its cliché to say this but yet true that Change is the only things that is constant, it is essential for the Indian banks to continuously bring about reforms in them to become better and stronger so as to be recognised as world class and to facilitate the robust growth in the economy.
Keeping this need of bringing about reforms in the Indian banks continuously to become better each day, The Indian Banks’ Association organized a conclave on Indian Banking Vision 2010. This conclave was organized in association with S.I.E.S. College of Management Studies which was its Academic Partner, Ernst & Young its Knowledge Partner and IDBI Bank the Principal Sponsor of the event. The event was held in the marvelous ball room of the Hotel Grand Hyatt on the 1st of August, 2008.
The event started off with the inaugural speech by Mr. T S Narayanasami, Chairman IBA & Chairman and Managing Director Bank of India. He gave a brief introduction to the reforms in the past decade how the Indian commercial banks need to be geared up to face the upcoming competition of foreign banks which are far more superior in terms of capital, technology and products. With this he discussed how Consolidation could be used by the Indian banks as a spring board to launch into growth.
The Inaugural session was followed by The Key Note Address by Mr. Venugopal Dhoot, Chairman and Managing Director, Videocon Group. Mr Dhoot threw light on the fact that how the Indian infrastructure is severing as a deterrent to growth. Even though the infrastructure has improved leaps and bounds in the recent past, there still exists immense opportunities for further enhancement. At present the cost of the banks is an issue which if addressed can help the banks, the consumers as well as the businesses. And one way to address this issue is to put emphasis on Internet Banking, ATM and Mobile Banking. Both these concepts have picked up huge following in the foreign countries and have saved huge sums in the costs. In India, these mediums have started picking up pace but more fuel to this fire is required if the banks wish to flourish and be competent enough against the technologically advanced foreign banks.
The Vote of Thanks was offered by Dr. A. K. Sengupta, Director, S.I.E.S. College of Management Studies. Dr. Sengupta expressed gratitude towards all those who had been involved in making the event possible and a success and also mentioned an interesting shift in what the 3C’s for a Bank was in the past as compared to what it is in the present moving towards the future. He mentioned that in the past the 3C’s for the Banks were Character, Capital and Capacity of the customers. In today’s scenario, peeping into the future, the 3C’s that would be important for banks would be Consolidation, Convergence and Capacity Building to ensure success.
PART 03
Courtesy : Manish Punjabi
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