Money & Banking

Performance of 18 PSBs reviewed in second leg of ideation exercise

KR Srivats New Delhi | Updated on August 22, 2019 Published on August 22, 2019

Eighteen public sector banks (PSBs) came together in the Capital on Thursday as part of the second round of the ideation exercise to further streamline the banking sector to help the nation become a $5-trillion economy in five years.

The first day of the two-day inter-bank meeting, held under the aegis of the Delhi State Level Bankers’ Committee (SLBC), saw a review of the performance of the 18 banks, Mukesh Kumar Jain, Managing Director & CEO of Oriental Bank of Commerce (OBC), told BusinessLine. OBC is the SLBC convenor for the State of Delhi.

“In the first half today, we reviewed the performance of all the eighteen banks and benchmarked each of them (on the 16 KPI parameters given by the Department of Financial Services) against the average of these banks,” Jain said.

The 18 banks have now been segregated into six groups, he said, adding that each of them would, on Friday, make presentations on the suggestions on the KPIs assigned to them.

For the first time since nationalisation of the banking sector, the government has embarked on an initiative of bottom-up ideation approach and sought suggestions from branch level managers on how the banking sector could be streamlined to fuel economic growth.

It may be recalled that the first round of this month-long ideation exercise was focused at the branch level. After the discussions at the inter-bank level in each State, the ideas will be collated and discussed at the national level, and indications are that Prime Minister Narendra Modi will address the national-level conference, sources said.

Published on August 22, 2019
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