Business Daily from THE HINDU group of publications
Tuesday, Oct 09, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Oct 09, 2007 ePaper |
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Money & Banking
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Public Sector Banks States - Tamil Nadu ‘Entry of foreign banks not a threat’ Our Correspondent Madurai, Oct. 8 Public sector banks (PSBs) are not afraid of the entry of foreign banks into the country. “They are not a threat and could pose no problem,” according to Mr T.S. Narayanasami, Chairman and Managing Director, Bank of India. Speaking to Business Line at Thondi in Ramanathpuram district, where the Union Finance Minister, Mr P. Chidambaram, inaugurated the third branch of the bank in the district and the 78th branch in Chennai Circle, on Sunday, Mr Narayanasami said foreign banks would be serving only triple ‘A’ accountholders, namely the high-end corporates who hardly constituted five per cent of the banking public. The reach, coverage, variety of service products on offer etc are the strengths of PSBs. By better leverage on the network, raising the level of work culture, focus on potential areas of profitable operations at the branch level, one could make the market more competitive and take on the challenges. More Stories on : Public Sector Banks | Foreign Banks | Tamil Nadu
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