Governor appeals bankers to identify newer risks

Bhubaneswar, Sep 29 (UNI) Orissa Governor Muralidhar Chandrakant Bhandare today appealed to the bankers to identify newer risks and strengthen the banking sector to keep pace with the changing technology.

The governor was addressing the inaugural selsion of the two-day function organised to celebrate the diamond jubilee year of All India State Bank of India Staff Federation.

Mr Bhandare said the SBI and its associate banks should capitalise on emerging opportunities, particularly in retail banking.

Customer service should be the priority sector for the banks to survive and thrive, he said.

The Governor said the Indian banking system had made phenomenal strides in the volume of business and diverted its attention to newer areas like agriculture, self employment, scope for higher education for poor and meritorious students and other areas.

The banks, he said should stress on qualitative aspects like transparency and better service to the customers and should maintain a healthy relation between management and staff for its growth.

SBI Chairman OM Prakash Bhatt urged the staff to change their attitude and serve the customers sincerely.

Mr Bhatt said with the growth of the economy and technological upgradation the expectation of the customers had undergone a change.

Customers were no longer satisfied with the bank's service. The customer base of the bank would soon disappear if the staff failed to improve their customer service, he said.

Union Minister for Rural Development Chandra Sekhar Sahu said during the last few years the financial soundness of scheduled banks in the country had substantially improved.

From an average annual growth of 3. 5 per cent during 1950 to 1980,the country had recorded a growth rate of 9.4 pr cent in 2006-7.

He said new challenges were coming up in the shape of competition, working environment that promotes transparency, accountability, delivery mechanism and customer satisfaction.

Mr Sahu wanted the banks to meet the challenges to survive.

UNI