Former Chairman of SBI comes out with autobiography

Mumbai, July 20 (UNI) Former Chairman of State Bank of India P G Kakodkar today announced that his autobiography 'My 40 years with SBI' will be released tomorrow at the Nehru Centre, here in Mumbai by HDFC's Chairman Deepak Parekh.

Speaking to media persons he said that the book release function will be presided by former Chairman of SBI D Basu and Managing Director Bank of Rajasthan Dr K M Bhattacharya and SBI's former Chief of Economic and Statistical Research Department Divaker J Kanvinde will speak on the occasion.

P G Kakodkar joined SBI as Probationary Assistant on July one 1957 and retired as Chairman on March 31, 1997. The book is an account of his 40 year tenure with the SBI. P G Kakodkar witnessed the transformation of the SBI from an Imperial Institution designed to promote colonial interests to a vibrant agent of socio-economic change.

The book describes to several momentous phases in the history of SBI and the Indian Economy. Ranging from rapid branch expansion to meeting the challenges of the policies of liberalisation introduced in 1991, Kakodkar details the restructuring and modernisation of the bank which made it competitive globally.

As he said, ''I have given rare insights into various dramatic incidents in the history of SBI such as the Nagarwala incident, the pressures on the bank during the emergency, the challenges of implementing the 20 point programme and the Harshad Mehta scam which shook the people's faith both in the Stock Exchanges and Banking Industry.'' The book also talks about how the SBI undertook the computerisation of the entity in the face of fierce opposition from the Unions.

Of special interest to Goans is a chapter on SBI's role in maintaining financial stability after Goa was liberated and the Banco Nacional Ultramarino was taken over by the Indian government.

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