............his challenge will be to use this goodwill to sort out the current mess in the banking sector without ruffling too many feathers. His appointment has come at a time when the banking sector is reeling under huge bad loans and the Reserve Bank of India is looking at bringing in more players in the sector by issuing licences on tap. "We will try to put in place improved systems so that there is better corporate governance and non-performing assets are reduced. All other issues that are being discussed will be carried forward. We will see what more we can do to make banks contribute more to the growth of the economy," ........
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1 comment:
It is a good development that a person with mild manners and belief in taking people along has been appointed in this position. Equally important is the aspect that he holds a doctorate in banking and hence should be a suitable choice for the post. In the past, some persons who have no background even in Finance not to speak of banking were appointed to this Ministry.IAS officers who were working, say, in the Water resources Ministry and with out much background in Finance are appointed to this Ministry as they are supposed to be all knowing!!It is also good that at present no IAS officer is a part of the top management( Governor/Dy Governors)of the RBI and I wish this position continues.
In fact ,I had expressed a view long ago in an article in the 'Business Standard' that there should be no quota for appointment to the post of Dy.Governor, i.e one/two from the RBI, one from the Banking Industry and one either from the IAS/an Economist. Highly competent persons should be appointed and in the process, if some section is not represented, it should not matter.
A.Chandramouliswaran.
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