Outsourcing very much needed: Andhra Bank CMD

Hyderabad, July 28 (UNI) Maintaining that outsourcing was very much essential for the healthy growth of the banking industry, Andhra Bank Chairman and Managing Director K Ramakrishnan today assured the striking employees that 'on no account outsourcing will be resorted to in critically essential functioning of the Bank'.

"Outsourcing is definitely going to happen in the banking industry", he made it clear at a press conference here.

"It (outsourcing) is in the interest of all in the banking industry", he said adding that outsourcing would be done only in such functions which were not critical to the bank's functoning.

On the proposal to outsource 'clearing house' operations, he felt that ''sufficient checks and balances have to be put in place before outsourcing of clearing of instruments of the general public".

Denying any move to downsize the staff strength in the Bank, he said "the bank has appetite for mobilising low cost deposits.

Redundancy will not happen in the banking sector. Only redeployment of employees will take place".

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