Money & Banking

Unexpected enthusiasm seen in PSBs brainstorming, ideation meets: Syndicate Bank MD

Anil Urs Bengaluru | Updated on August 23, 2019 Published on August 23, 2019

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The brainstorming sessions were attended by more than 200 senior bankers from various nationalised banks in the state

Senior bankers from 15 nationalised banks across Karnataka attended the second stage of multi-level consultation and ideation sessions for banks.It was hosted by the Syndicate Bank.

The objective of the session was to take forward the ideas generated by each bank in Stage 1 of the multi-level ideation process concluded a week ago.

“Today’s meeting witnessed unexpected enthusiasm in brainstorming and ideation,” Mrutyunjay Mahapatra, MD & CEO, Syndicate Bank told BusinessLine.

He further said, “Housing for all, women empowerment, Swachh Bharat, betterment of farmer’s lives, contribution towards digital economy, financial inclusion, education loans, etc were some of the national priorities that bank’s voiced and discussed.”

The brainstorming sessions were attended by more than 200 senior bankers from various nationalised banks in the state.

According to Mahapatra, the bottom-up approach was adopted for full inclusiveness and would ensure the services are delivered on a pro-actively at Public Sector Banks (PSBs).

Nine thematic papers

In the second-leg of the consultation process, discussions started with the outcomes from Level 1 workshops that were organised by each PSB at branch levels. Key highlights were further discussed amongst senior bankers of other PSBs.

As mandated, nine thematic papers were also discussed during the second-round of brainstorming discussions. These included:

1. Increasing digital payments

2. Corporate governance at PSBs

3. Credit for India’s MSME

4. Use of technology by PSBs

5. Retail lending

6. Agriculture credit

7. Export credit in India

8. Establishing of financial grid

9. Enabling bank credit towards a $5 trillion economy

During these sessions, a strong emphasis was laid on aligning banking with national priorities and increasing the role of PSBs in the growth of Indian economy.

A compilation of suggestions and ideas, generated during the second stage that involved inter-bank state-wise participation, will now be discussed at the national level that will involve MDs/ EDs of PSBs, domain experts, regulators and financial institutions. In this last leg of discussions, a roadmap for implementation of thematic policies and ideas for stimulation will be formulated.

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Published on August 23, 2019
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