Business Daily from THE HINDU group of publications
Friday, Nov 10, 2006
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Business Daily from THE HINDU group of publications Friday, Nov 10, 2006 ePaper |
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Money & Banking
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Fixed Deposits Karnataka Bank focus more on retail deposits Our Bureau
Mangalore , Nov. 9 Efforts should be made to mobilise more and more retail deposits to meet the imminent liquidity crunch, according to Mr Ananthakrishna, Chairman and Chief Executive Officer of Karnataka Bank Ltd. Addressing regional heads of the bank here on Thursday, he said financial inclusion is the best avenue to achieve this. Credit off-take will pick up further with the rise in demand from retail segments. The upswing in industrial production and the increased consumption trends will drive banks to go for credit expansion as well as mobilisation of high volume of funds while ensuring adequate spread. "We should be wary about this upward trend in credit growth and unprecedented consumption," he said. The time has come to moderate credit growth in some sectors, re-balance credit portfolios, and exercise prudence. "We should focus our attention to increase net interest income as well as fee-based income and contain operating cost. Quality of advances should be taken care of," he said. A bank release here said that Mr Ananthakrishna reviewed the performance of the bank during the first half of the current financial year at the meeting.
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