The former CMD of Union Bank of India, K Cherian Varghese, continues to be active even after stepping down as the chairman of BIFR. Mr Verghese was recently conferred a honorary doctorate from the University of Mumbai on the subject ‘Management of credit risk in commercial banks in India’. Some bankers, who know him well, say this may encourage a few retired bankers to pursue similar projects, particularly because many capable senior bankers who have retired have not been given any new assignment by the government.
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