Financial Daily from THE HINDU group of publications
Tuesday, Jan 13, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jan 13, 2004 |
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Money & Banking
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Foreign Banks Deutsche may expand India operations L.N. Revathy
Coimbatore , Jan 12 DEUTSCHE Bank AG is quite upbeat on the India market. Unwilling to say much on the bank's operations within the country, its Managing Director, Mr Ashok T. Aram, told this correspondent that a lot of work was being sourced out of Bangalore. Stating that the bank had already established its presence here and was contemplating to expand its operations further, Mr Aram said that economies such as China, Russia, Brazil and India would be potential growth centres for the bank. "Each of these countries face innumerable challenges," he said. According to Mr Aram, resource efficiency could be very critical. "Indian productivity and compensation match in principle. But then, during our recent review, the bank noticed that the compensation for the engineers in Moscow was cheaper when compared to Indian engineers and their productivity was also high, though the quality of work was on par. We shifted about 100 jobs from London to Bangalore, which was later shifted to Moscow. This happens once in a while in a competitive environment," he added.
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