Ludhiana, August 18, 2019: As per the instructions issued by Department of Financial Services, GOI, the first stage of the bottom up consultative process designed to generate ideas and review performance of the Branches and their alignment with the national priorities, was conducted at the Regional level on 17th August 2019 by Indian Overseas Bank, Ludhiana Region, involving all the Branches within the Regions jurisdiction.
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 strategies and the way forward.
The meet focused on the ways and means to increase the credit to various sector of the economy, enhanced 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 industries, entrepreneurs, youth, Students & women.
The meet was mainly focused on Banks performance and its alignment with the national priorities in areas such as: Credit support for economic growth, Infrastructure Industry, Farm sector and blue economy, Jal Shakti, MSME/MUDRA/Stand-up India, Education Loans, Export credit, Green Economy, Swachh Bharat, Financial Inclusion and Women’s Empowerment, DBT, Less cash/Digital Economy, Ease Living, MSME: Alignment with Local priorities and Corporate Social Responsibility.
As a result of the consultation, a number of implementable and innovative suggestions came up on how Indian Overseas Bank in general and Ludhiana Region in particular, may improve their performance and what the road map for the future should be. These suggestions were collated and have been sent to the Zonal level for further discussions at the SLBC/State level.
The consultative process has resulted in a renewed sense of involvement and purpose down to the Branch level and the Region is geared towards the implementing the roadmap for the future, improve its performance, and align itself to national priorities so that it may fulfil its mandate of partnering the Indian growth story.