Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | ‘Cash transfer scheme a game changer for banks’

‘Cash transfer scheme a game changer for banks’

Share this article Share this article
published Published on Dec 17, 2012   modified Modified on Dec 17, 2012
-The Hindu

It will bring many customers into banking fold: Andhra Bank CMD

Hyderabad: Andhra Bank Chairman and Managing Director B. A. Prabhakar on Sunday said the cash transfer scheme of the Central government was a game changer for banks as it would help bring a large number of retail customers into the banking fold.

The scheme had the potential to bring about a second revolution in the industry after nationalisation of banks in 1969 since 100 per cent financial inclusion was mandated through bank accounts, Mr. Prabhakar told the tenth all-India conference of Andhra Bank Officers Federation here.

He added that banks in the country faced the toughest challenge in recent past as global meltdown of 2008 impacted the industry with a lag effect after 2008-09 and 2009-10 passed off without any hitch.

The growth rate which used to be 9 per cent earlier came down to 5.6 per cent in 2011-12 and looks headed for 5.3 per cent this year.

Since the recovery of Indian economy was likely to take at least two years, Mr. Prabhakar warned that the growth rate of banks would be stunted during the period.

It was in this context that the public sector banks were looking to the Central government for capital infusion. The government had also responded positively.

Human resources

On the human resource front, he said all banks faced the threat of vacuum in senior and middle level management in the next few years due to retirement of officers. The banks were clueless though they went ahead with quicker promotions and huge recruitment.

In chaos, the banks resorted to ‘jugaad’ management which was grassroots innovation to overcome any constraint.

Andhra Bank executive director S. K. Kalra said human resource build up was the biggest challenge of banking industry due to impending retirement of a huge staff.

N.V. Satyanarayana and V. Raghavendra Sarma, president and general secretary respectively of Andhra Bank Officers Federation also spoke on the occasion.

'Scheme has potential to bring about a second revolution in the sector after nationalisation'

Banks in the country faced toughest challenge owing to global meltdown: Andhra Bank CMD

The Hindu, 17 December, 2012, http://www.thehindu.com/todays-paper/tp-national/cash-transfer-scheme-a-game-changer-for-banks/article4208085.ece


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close