Parameters these lenders are using to ascertain their operational performance are improvement in credit delivery, standards of underwriting, enhancement of financial inclusion, and increase in digital payments.
“This is the first time we have taken such an initiative. The broader theme is how to motivate branch-level employees to align them with national priorities and how banks can contribute to make India a $5-trillion economy,” State Bank of India chairman Rajnish Kumar said. The exercise was carried out over the weekend, as directed by the ministry. It was a busy working Sunday for all top bank executives.
The exercise covers eight thematic papers on issues as diverse and complex as digital payments, corporate governance in PSBs, MSME credit, technology usage and retail lending.
“The consultation process is aimed at stimulating ideas and inculcating a sense of involvement among bankers, down to the branch level,” a note from the ministry said.
Finance ministry has listed credit support for the economy as the biggest national priority, followed by credit for infrastructure and doubling of farmers’ income. Home loans, education loans and export credit are also listed as priorities, while schemes related to Swachh Bharat, women empowerment, Stand-up India, and financial inclusion also featured on the agenda.
SBI said that it conducted these regional level meetings across its 22,000 branches. The suggestions coming from all the branches would then be compiled by the individual banks and then these would be presented at the respective state level bankers’ committee meeting set to be conducted next Friday and Saturday. These banks will make a consolidated presentation of their findings to the finance ministry in September. “With the economy at an inflexion point, policy decisions taken now will define the future of banking and its contribution to economic growth. This bottom-up consultative process will provide a platform for field personnel to represent and bring forward the grassroots-level challenges in their respective areas,” said Rajkiran Rai, managing director at Union Bank of India.
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3 Comments on this Story
Ashok Singh433 days ago
Since nationalistion each government has increased transfer of govt department''''s own work to banks and their salary structure is the worst now. The bank officers who used to be paid better than IAS officers till 1978 and equal to them till 1986 are now paid less than head clerk of a government office. Bank clerks are paid less than the sweepers of the govt.The governments after nationalisation entrusted banks the social banking, financial inclusion etc which is a loss making business coupled with huge number of NPAs of Government sponsored scheme loans. All the big infra structure advances which have turned to NPA, have been sanctioned by active involvement/direction of governments. Most of these have turned NPA only due to unhygienic economic environment deliberately maintained by the government. How the banks are at fault?Why financial crime is not a criminal act? Why possession of defaulters'' properties not allowed by District or Metropolitan magistrates for years despite rule to decide within 30 days?
Shree Ram Statue boy433 days ago
Growth in NPA goals . PSU Bank = NPA banks . Dena bank only did dena . Useless banks and useless staff . They get salary for coming late . They get salary for drinking coffee and talking about a game of cricket . Ensure all staff are given VRS . Trainers must be changed and new staff should be given training by the new trainers. Use external trainers . Reduce the number of PSU banks to 3 or 5 . Govt must stop inter fearing and gradually disinvest
Kishore Shivani433 days ago
WITH ADVENT OF IPPB DO WE NEED SO MANY MULTIPLE BRANCHES OF PSUS AND PRIVATE SECTOR BANKS THEY ARE EXPENSIVE FROM POINT OF VIEW CAPEX AND OPERATIONAl EXPENSES. WE ALSO HAVE COOPERATIVE BANKS IF WELL CONTROLLED AND MANAGED WILL ALSO PROVIDE USEFUL RURAL BANKING SERVICES AND A BRIDGE BETWEEN RURAL AND URBAN BANKING PROVIDED THE PROMOTERS ARE HONEST AND NOT CROOKS AND CHEATS AS PRATIBHA PATIL THE EX PRESIDENT.