Bank of Baroda, Ludhiana Region conducts first of its kind consultation

Bank of Baroda, Ludhiana Region conducts first

Ludhiana, August 19, 2019: The first stage of the bottom-up consultative process designed to generate ideas and review performance of banks and their alignment with national priorities, was conducted at Ludhiana on 17th and 18th of August, 2019 by Bank of Baroda, Ludhiana Region involving all branches within the Region’s jurisdiction.
The meeting was conducted by Y K Gupta (Regional Manager) in the presence of O P Khatkar (Dy. Zonal Head) as observer. This was a first of its kind consultation where the branches were themselves asked to review their performance, deliberate on the issues before the banking sector, and ideate on future strategy and the way forward. The meet focused on the ways and means to increase credit to various sectors of the economy, enhance use of technology to bring about innovation and enable big data analytics, and make banking citizen-centric as well as more responsive to the needs and aspirations of senior citizens, farmers, small industrialists, entrepreneurs, youth, students & women.
The following nine thematic papers by the domain experts on various challenges facing the banking sector, were discussed during the meet with a view to suggest reforms in Public Sector Banks (PSBs) and the future roadmap for them:
• Increasing digital payments by Nandan Nilekani
• Corporate Governance in PSBs by Uday Kotak
• Credit for India’s MSMEs by U. K. Sinha
• Use of Technology in PSBs by K. Subramanian
• Retail Lending - A Great by Aditya Puri Opportunity
• Agriculture Credit by Prof. Ramesh Chand and Dr. H. K. Bhanwala
• Export Credit in India by David Rasquenha
• Need to Establish Financial Grid by Dr Charan Singh
• Enabling Bank credit towards by Soumya Kanti Ghosh
a $5 Tn Economy
The meet also reviewed the bank’s performance, and its alignment with national priorities in area such as -
• Credit support for economic growth
• Infrastructure/industry
• Farm sector and Blue economy
• Jal Shakti
• MSME Sector and MUDRA loans
• Education loans
• Export credit
• Green Economy
• Swachh Bharat
• Financial inclusion and women empowerment
• Direct benefit transfers
• Less cash/digital economy
• Ease of living
• Alignment with local priorities, and
• Corporate social responsibility.
As a result of the consultations, a number of implementable and innovative suggestions came up on how PSBs in general, and our bank in particular, may improve their performance and what the roadmap for the future should be. These suggestions were collated and have been sent to Zonal level for further discussions at the SLBC/State level, along with comparative performance assessment of the branches under each region. After the SLBC level, final consultations will be held at the national level to compare both intra and inter-bank performance, and to finalize the suggestions regarding the way ahead for implementation across PSBs
The consultative process has resulted in a renewed sense of involvement and purpose down to the branch level and the bank is geared towards implementing the roadmap for the future, improve its performance and align itself to the national priorities so that it may fulfil its mandate of partnering the Indian growth story.

Monday, August 19, 2019