The Hindu Business Line : Banks must grow in size, confidence to face challenges: Damodaran

DESCRIBING the present times for the banking sector as "challenging times where the pressures of consolidation from outside and from within would mean those remaining small and inefficient will be looked for acquisition," Mr M. Damodaran, Chairman of the Securities and Exchange Board of India (SEBI), goaded the bankers to "collectively grow to a size where nobody dares to believe that they can be easily bought over."

He was addressing the performers at the annual felicitation function of South Indian Bank here. In all, 22 branch heads selected from 11 regions were felicitated. The Chairman, Mr V.A. Joseph, the Chief General Manager, Mr M. Valson, and the General Manager, Mr V.P. Joseph, were present.

Mr Damodaran spoke about the growing opportunities for banking sector in the country today contrary to the situation four-five years ago when Indian industrialists were "scared to produce". "But today those fears are gone as Indian entrepreneurship is emerging with confidence," he said and urged bankers to "respond to this challenge with confidence."

Underlining the value of service and human resource behind it even in today's technology driven banking, he told bankers that the value addition that the human resource brings to the organisation, no other resource could ever bring. For that, he said conversion of interest between the customer and bank was of paramount importance and that is what would eventually translate into bottom-lines for the banks. He called upon the bankers in the private sector to take advantage of the relative freedom they have to drive the resources to growth.

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Banks must grow in size, confidence to face challenges: Damodaran