Banks facing lesser impact of crisis: Pereira

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Ahmedabad, Oct 21: Bank of Maharashtra Chairman and Managing Director Allen Pereira (BoM) on Tuesday, Oct 21 claimed that due to strong fundamentals of the Indian Banking System (IBS), public and private sector banks are facing a lesser impact of the present international banking crisis.

Talking to reporters here, Mr Pereira said ''International banking crisis that has shaken banking industries as well as economy of the Western World, has unleashed lesser heat on IBS, as banks in India have to follow stringent norms and controls set up by the Reserve Bank of India.'' Mr Pereira, who tookover the reins of BoM in last June, was in the state to inaugurate its two new branches -- one each in Mehsana and Ahmedabad cities.

When asked, Mr Pereira said that BoM has not been affected by the international banking crisis, as the Bank has no internationl exposure.

Talking about attracting investments from Non-Resident Indians (NRIs), the BoM chief said, ''The Bank is soon opening a special NRI cell in Pune to facilitate the NRIs to make investments in India. To strengthen it further regional NRI cells, the Bank will also be set up in all 22 states and Union Territories where the Bank has its presence.''

UNI

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