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With reference to the article on “Banking on the future”, (Business Line, August 11), though the banking industry has been transformed significantly over the last five years, there are greater challenges ahead such as financial inclusion, competition from new generation banks, introduction of innovative products and focus on human resources. The pressure on banks, particularly public sector banks, is mounting in the context of retaining their market share and innovating new business modules to compete efficiently. But, the lack of autonomy prevent PSBs from implementing radical changes which are imminent to survive in the competitive market.

D. Suresh Babu Vellore

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