The Hindu Business Line : The bankers’ bonhomie

Hyderabad, June 13 They may be fierce competitors in the market. But it didn’t look like that at the Indian banking conference conducted at the Indian School of Business, when three top bankers, Mr O.P.Bhatt of SBI, Mr Sanjay Nayyar of Citibank and Dr. P.J.Nayak of Axis Bank, addressed a panel discussion. They were the picture of bonhomie, good humour, friendly jibes and even some well meaning friendly advice.

Mandated Claps !

When the SBI chairman blew his bank’s trumpet and its record in providing great customer service, the audience was slow on the uptake. A smiling Mr Bhatt then gently chided the audience and wondered whether they were not going to clap. When someone piped up about this being a mandated clap, Mr Bhatt was quick to retort that he felt that the audience was dying to clap but was embarrassed to do so!

Attrition Challenge !

Talking about the problems faced by public sector banks, Mr Bhatt pointed out that attrition was a challenge given the remuneration levels in the public sector. He acknowledged that they were losing out good talent which migrated to the private sector. Then in a self-deprecatory quip, he added “You may now wonder that since I have stayed on for so many years, I am not much good!” The audience roared with laughter.

For the sake of the nation !

Referring to the relatively low salary scales in Public sector banks, Mr Bhatt related a recent anecdote about approaching the Finance Secretary about his own salary. The Finance Secretary apparently replied, “ Mr Bhatt, we are not working for a salary. We are working for the nation.” May be the bank management must use this explanation as a bargaining chip when they negotiate with unions for the next wage settlement!

Non-monetary incentives

Talking about the need for incentives, Mr. Bhatt said that SBI was working on a number of non-monetary incentives.

In a light-hearted vein, he said that he could not provide monetary incentives as his managers might become mercenary! While saying this, he gestured to both his co-panelists sitting on either side. Everyone watched this friendly jibing with amusement.

Mr Bhatt added that he had started a Chairman’s club for high performing branch managers and had also invited the top performers to his house for dinner. He said that his branch managers seemed to get a big kick out of this. Even if he had provided a Rs 10 lakh incentive, there was a possibility of the manager pocketing it, resigning and joining his competitor. But the act of recognition by the Chairman had made an impact and his managers were bent on getting invited once again.

Friendly advice

It may have been the cool and green environs of the Indian School of Business. Or it may have been the rather candid mood of all panellists. But whatever it was, there was an unexpected piece of friendly advice from Citibank CEO to the SBI Chief. He said, “SBI had to motivate its branch managers to do more cross-selling. If they did this, it will make our life more difficult.” So Mr Bhatt and his team – What are you waiting for? Go on and grant Mr Nayyar his wish!

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