.........There is much discussion today on providing foreign banks near national treatment but unfortunately no interest in providing our public sector banks (PSBs) the same. The favourite whipping boys in India - of the government, the Reserve Bank of India (RBI), the media, competitor banks, rating agencies, random intellectuals and even some industrialists - the PSBs, are in dire need of immediate attention and reform..........
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There are no two opinions on the author's call for reform of the PSBs as an imminent step in banking reform agenda. Taking a cue from the current appointment of the Governor, RBI why not the PSB CMDs be considered at their prime age of decision making, say between 50 and 55 and allow them the tenure of beyond three years if they perform to the expectations? When R.K. Talwar became the chairman of SBI in such age group he could significantly contribute to a stable policy, sustainable growth of the Bank with courage and fortitude. His eight year regime gave the momentum for bank's subsequent growth for at least one and half decades after he left the Bank. The selection could be open to the entire banking industry with a minimum of three decades of experience as Senior management executive/top executive on certain set transparent criteria with a two tier interview for such posts - one at the Bank's Board level and the other at the GOI-RBI Selection Board. The selected person should lay down a statement before joining as to what he would contribute during his tenure and what would be his strategies. The selected person should be provided an opportunity to familiarize himself/herself with the institution in case he is selected from outside for a period of one month before assuming charge. Persons at such age would be able to provide good leadership and drive in a dynamic environment.
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