Bankers' retreat to focus on reforms in financial sector begins
Updated: Jan 02, 2015 02:34:41pm
Pune, Jan 2 (KNN) A two day retreat to take forward the government’s commitment to reforms in the financial sector, and to ensure that growth and change are in tune with the development in the real sector began here today.
The retreat called Gyan Sangam specifically for banks and financial institutions was inaugurated by Minister of State for Finance, Jayant Sinha at National Institute of Banking Management (NIBM), Pune, Maharashtra.
According to an official release, the retreat is expected to provide an informal academic environment, which can bring out the creative best of the minds of professionals and regulators.
“The chief executives of these organisations, from their years of experience in the business, have many ideas about the reforms in banking sector. The objective of this retreat is to arrive at a common understanding among the professionals, regulators and the government on the reforms, required in the public sector banks in the current economic situation,” it said.
Significantly, the programme includes a separate session devoted to sharing of the best practices followed by different Banks in an effort to learn from each other.
This would include presentations by - Axis Bank - the Mobile Youth account Retail banking Product design based on life insights; IDBI Bank - The Electronically secured bank and treasury receipts and Payments. This also includes Electrification of Government receipts and customer convenience; State bank of India - A Specialized cadre of IT function. This has created a viable track for specialist talent in public sector banking; Andhra Bank - The Objective Key Result Areas (KRA) and Key Performance Indicators (KPI) for a transparent and IT enabled evaluation system of Human Resources.
Further, participants have been divided into six groups keeping in view the outcomes related to access, efficiency, stability, profitability/value creation.
As for group discussions, six main themes have been identified: Achieving universal Financial Inclusion; Leveraging Technology and digitalisation to improve banking operations efficiency; Rethinking Priority sector lending; Improving Risk management, asset Quality and recovery; Building a robust people strategy for PSBs; Consolidation and restructuring of PSBs for better efficiency, governance and capital efficiency.
The groups would finalise their reports and present them to Prime Minister Narendra Modi who along with Finance Minister Arun Jailey will be present at the retreat tomorrow.
Other participants at the Bankers’ Retreat include Secretary, Department of Financial Services (DFS), Hasmukh Adhia, Regulators, officers of the Ministry of Finance, Top Management of all Public Sector Banks (PSBs), Insurance Companies and Financial Institutions (FIs). (KNN/ES)
The retreat called Gyan Sangam specifically for banks and financial institutions was inaugurated by Minister of State for Finance, Jayant Sinha at National Institute of Banking Management (NIBM), Pune, Maharashtra.
According to an official release, the retreat is expected to provide an informal academic environment, which can bring out the creative best of the minds of professionals and regulators.
“The chief executives of these organisations, from their years of experience in the business, have many ideas about the reforms in banking sector. The objective of this retreat is to arrive at a common understanding among the professionals, regulators and the government on the reforms, required in the public sector banks in the current economic situation,” it said.
Significantly, the programme includes a separate session devoted to sharing of the best practices followed by different Banks in an effort to learn from each other.
This would include presentations by - Axis Bank - the Mobile Youth account Retail banking Product design based on life insights; IDBI Bank - The Electronically secured bank and treasury receipts and Payments. This also includes Electrification of Government receipts and customer convenience; State bank of India - A Specialized cadre of IT function. This has created a viable track for specialist talent in public sector banking; Andhra Bank - The Objective Key Result Areas (KRA) and Key Performance Indicators (KPI) for a transparent and IT enabled evaluation system of Human Resources.
Further, participants have been divided into six groups keeping in view the outcomes related to access, efficiency, stability, profitability/value creation.
As for group discussions, six main themes have been identified: Achieving universal Financial Inclusion; Leveraging Technology and digitalisation to improve banking operations efficiency; Rethinking Priority sector lending; Improving Risk management, asset Quality and recovery; Building a robust people strategy for PSBs; Consolidation and restructuring of PSBs for better efficiency, governance and capital efficiency.
The groups would finalise their reports and present them to Prime Minister Narendra Modi who along with Finance Minister Arun Jailey will be present at the retreat tomorrow.
Other participants at the Bankers’ Retreat include Secretary, Department of Financial Services (DFS), Hasmukh Adhia, Regulators, officers of the Ministry of Finance, Top Management of all Public Sector Banks (PSBs), Insurance Companies and Financial Institutions (FIs). (KNN/ES)
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