Resurgence of Banks’ Firmness of purpose (India Centric) First Requirement.

     In one of my earlier posts  (  on   “Banks’  Power and Capabilities  on  Test-bed”  –  on 10  Nov 2013)  I concluded  with the statement that  ‘there are some essential requirements to effect the strategies’  and added that I will  deal with some  separately.

     I now present briefly the chief requirement as I see in this critical period of uncertainty and the need for banks to enhance their image and reputation to meet the impending competition effectively.

     My proposal  in  this  context  is  for  every  Bank  to  identify an able, sagacious and skilful   ‘PROMACHOS’  as  Leader  acting  and  conducting  the  affairs on  the  principle of  synteresis  ( operating  by  fide et fiducia,  fide amore,  and fide et fortitudine ).  How will he conduct  himself ?  Simple for the serious minded.

     Just recall  Late  Raj Kumar Talwar’s  ( Former Chairman of the  State  Bank of  India,  and  ‘Titan of Bank Management’ )   VISION  and  ACCOMPLISHMENTS  enshrined in total  COMMITMENT  &  VALUES –  a  study in management  for  professionals/students/employees/and everyone connected with Banking in India.

     1.  His singular message  :  “Honesty is the Best  Protection”.   2.  His structural  Reorganization  and  Systems  overhaul  of  SBI  with  Indian experts is a landmark reform that was the harbinger to other banks for two decades  and  more.   3.  MSME  ( Micro,  Small,  Medium Enterprises )  we speak of now  had its genesis founded on the excellent  PUSH  that  Talwar  gave  to  Small  Scale  Industries at a time when  BIG  Industries  were  the  darlings.    4.  His  mark of Leadership  bore  the  conviction  that  “Need-based-Lending”  shall  be the  cardinal  principle.    5.  He developed  Systems  for  efficient/effective  UTILISATION  of  FUNDS  ahead  of  Tandon  Committee’s  Recommendations.    6.  His decisions based on  QUICK  &  ACCURATE  ANALYSIS  affording  solutions  to  every  problem  he  faced  with  is  a  model  in  DECISION-MAKING.    7.  The freedom/leeway  he  extended  to  his  subordinates  to  take  decisions  EVEN  BEFORE  RATIFICATION  ( provided  analytically sound  and  factually  impenetrable  )  enthused  them  to  strive  for  perfection.   8.  His  principles  and practices  –  insights  and  foresight  –  are  what  we  are  discepting  even  now  in  the  context  of  the  Global  Financial  Crisis  albeit  without  any  acknowledgement/reference/mention  even  superficially.

     Sad,  his  service  had  to  be  forcibly  cut  short  just  when  he  was  54 ( in the year 1976 ).

     ”  Every  Bank  needs  a  Raj  Kumar  Talwar  today  not  just  for  the  good  of  the  individual  banks,  but  also for  a  clean  and  efficient  BANKING  SYSTEM.”

     I  will continue to deal  with  some  other  requirements  separately  in  due  course  of  time.

     ”   Dieu  avec  nous  “

     Saturday,    November  16,   2013   –    8.00  p.m.   (IST)

     Tidbit   :    “Banking  may  well  be  a  career  from  which  no  man  really  recovers.”  –   John  Kenneth  Galbraith.

 

    

    

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