The Hindu Business Line : PSU bankers urged to move out of `comfort zone'

THE Deputy Governor of Reserve Bank of India, Ms K.J. Udeshi, has said that all bankers in the public sector should have a lot more `lateral mobility'.

Addressing the staff of Corporation Bank at the `Corporate Award Ceremony 2004' here on Saturday, she said currently, lateral mobility is present only for chairmen and executive directors. "At present, you have it as executive directors or when you become chairmen. But it may be necessary for you all to move on even as general managers," she said.

Urging bankers to move out of the "comfort zone", she said, "It is not enough for you to be comfortable where you are. You must be prepared to move, and move to other branches and cities and get the experience." One can say that he or she is a general manager of a calibre equal to that of any other public sector banker, only if one gets out of the "comfort zone", Ms Udeshi said. She said, "It may be a little difficult for you to swallow right now. But it is in your own interest."

Stressing the need for consolidation in the banking sector, she said one must not expect that he or she will remain in Corporation Bank for a long time. One should think of the future as something that requires a fresh look. "Banks need to move on towards consolidation," she said.

Ms Udeshi said the share in the assets of public sector banks had come down. She attributed this to the banking sector reforms and the emergence of new private sector banks.

Though public sector banks still hold three-fourths of the banking assets, the share of private sector banks has steadily increased. Banks have to face this competition, she said.

The Regional Director of Reserve Bank of India, Ms Devaki Muthukrishnan, was also present at the ceremony.

The Chairman and Managing Director of Corporation Bank, Mr V.K. Chopra, welcomed the gathering.

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