A proper banking system is required in India so that banking reaches the remotest of villages, said K R Kamath, vice-chairman of the Indian Banks’ Association and CMD of Punjab National Bank.
He was speaking at a seminar on ‘the emerging challenges before the Indian Banking industry’. The programme was organised by the State Forum of Bankers’ Clubs and Greater Kochi Bankers’ Club.
“New technology has to be developed if a proper system to reach banking to remote villages have to be put in place. This is going to be a great challenge for us,” he said.
He said the downturn in the economy of India has affected the banking sector in a huge way. “Banks are facing huge shortage in human resources. We don’t have a capability for large recruitment. However, we have constraints to train them all,” he said, and added that these problems should however be solved and immediate steps have to be taken in this regard.
State Forum of Bankers’ Clubs president Sivadasan P Pillai, general secretary K U Balakrishnan, vice-president P P Suresh, chief patron Abraham Thariyan and Bankers’ club Greater Kochi president Peter Sebastian spoke.