Subir Roy: A banking revolution | Business Standard Column

Subir Roy: A banking revolution | Business Standard Column

My VIEW:

Excellent analysis. It is Prime Minister Modi's way of expressing his wishes or rather 'vision', to ask people get started at least with one in a constituency or one per branch. I am refering to the call to finance 'start-up' ventures. Actually such targets need to be fixed wherever organisations (in this case banks) source funds from public. Now what is happening is, private sector banks get away with the creamy layer of business in cities and towns and PSBs are 'directed' to do all uncomfortable work. As mentioned in the article, small banks and investment banks will revolutionise Indian financial sector. One wishes NABARD takes note of the changes happening on the banking scene and support cooperatives and remaining RRBs to modernise and accept technology and best practices so that the institutional system which has done much in the rural India does not become extinct too soon.

M G Warrier, Mumbai

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