For banks to perform well, all portions of the economy should work well

For banks to perform well, all portions of the economy should work

Jamshedpur No Comments on For banks to perform well, all portions of the economy should work 122

Jamshedpur, March 15: With an aim to create socially responsible leaders who take initiatives and lead from the front, are conscious of the social implications of business decisions, and are effective managers who ‘get the job done’, the students invite stalwarts and distinguished achievers from myriad walks of life to interact with students and help them gain a better perspective of life & business.

As part of the Leadership Series hosted by the students of PGDM (GM) at XLRI today saw S. Vishwanathan–MD & Group Executive, SBI Associates & Subsidiaries addressing the students at XLRI.

Sharing his views on “Changing landscape of Indian Banking”, S.Vishwanathan said that the environment in which the banking industry is operating now has become very complex compared to the past. He emphasized that for the banks to perform well, all portions of the economy should work well. Also he highlighted that the number of international banks have increased and this has caused in a surge in competition. These international banks target a niche segment in the market and SBI has a big challenge to overcome the niche market targeted by the foreign players.

Talking about the complexities the banking industry faces today Mr.S.Vishwanathan said that risk profiles in every geography has changed and this has resulted in having differential pricing for the various bank products. In addition to this, he also mentioned about the numerous regulatory challenges faced by banks. Moreover, banks also have internal challenges such as attracting and retaining good people. When people are recruited a lot of time is spent on training them in both soft skills and hard skills. Since banks serve people across the globe uniformpeople process technology needs to be applied throughout.

Further, talking about the RISKS, S.Vishwanathan said there are a whole lot of risks such as credit risk, foreign exchange risk, market risk, interest rate risk and liquidity risk etc., which a bank face today. He mentioned that banks need to develop risk management measures to overcome this and should have dedicated risk management teams to handle the risks.

Referring to DEMAT Accounts as the next big thing in the banking industry, Mr.S.Vishwanathan said this would provide the banks with a lot of data bases and this would provide a huge opportunity to develop and sell new products.

The earnestness and knowledge with which Mr.S.Vishwanathanspoke on “Changing landscape of Indian banking”definitely did throw a lot of insight on the current and the future challenges facing the banking industry in the minds of the students of PGDM (GM) at XLRI.

In the past years they have hosted leaders such as Lt. Gen Anjan Mukherjee, AVSM, Director General , Artillery , Indian Army and Mr. Praveen Sinha, Co-founder and Managing Director Jabong.com to address the students while this year we had the likes of Mr. SV Nathan, Director Talent at Deloitte and Dr. Vijay Sharma, JMD at Usha Martin speak at the event.

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