The Hindu Business Line : Financial inclusion: Corporation Bank targets 300 villages

Advertisement

Mangalore Feb. 18 Experts from the banking industry analysed various issues ranging from financial inclusion and human resource management to consolidation, at a symposium on `Whither reforms in banking?', organised by the Corporation Bank Officers' Organisation (CBOO) here.

Inaugurating the symposium, Mr B. Sambamurthy, Chairman and Managing Director of Corporation Bank, said that one has to look at banking reforms from the stakeholders' perspective. Apart from regular stakeholders such as staff, management and customers, thought should also be given to those 400 million people who are outside the banking system. Growth with equity should be the focus, he said.

Corporation Bank has planned to take up financial inclusion in 300 villages in the country. On consolidation, he said the `vertical consolidation' in banking industry provides economies of scale and `horizontal consolidation' provides economies of scope. Economies of scope provide value proposition for the customer.

Welcoming the gathering, Mr T.R. Bhat, President of CBOO, said while India gets prominent focus in cases such as stock market boom and overseas acquisitions by Indian companies, the farmers' suicides also take place. Dr N.K. Thingalaya, member of ICBFP, said that regional rural bank (RRB) is a good concept and the State governments also should pay enough attention to it. Mr Shanta Raju, former General Secretary of All-India Bank Officers' Confederation (AIBOC), said that there is a need to fully leverage the human resources in the banking system. By 2015, there will be a shortage of human resource in the banking industry, he added.

Mr S.L. Shetty, another member of ICBFP, spoke on the blueprint on alternative banking policy. Prof G.V. Joshi, Chairman of the Department of Economics, Mangalore University, moderated the discussions at the symposium.

More Stories on : Public Sector Banks | Rural Development

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
The funding of the Fund

Oriental Bank targets 22% growth in Kolkata region

Financial inclusion: Corporation Bank targets 300 villages

Taking banking to Dharavi's poor

Transport infrastructure — The emerging financing options

UTI Bank plans to cover 1 lakh small truck owners

Bank of India plans to expand overseas

`Small banks have a place amid consolidation trends'