Kalam exhorts banks to improve the lot of the poor, commoman

By Staff
|
Google Oneindia News

New Delhi, Aug 25 (UNI) President A P J Kalam today made a fervent appeal to the Public Sector Banks to devote themselves to ameliorating the condition of the common man, particularly to the poor populace residing in rural areas.

Addressing a gathering here to mark the Centenary Celebrations of the Bank of India(BoI) at Vigyan Bhavan, Dr Kalam cited several instances where the banks had brought about significant transformation in the lives of common people by providing a helping hand.

Others who spoke on the occasion included Finance Minister P Chidambaram, Minister of State for Finance Pawan Kumar Bansal and BoI CMD M Balachandaran.

The President asked the banks to have a missionary approach and display compassion in tackling the problems of the man on the street.

He said the banks can bring about a metamorphosis of the rural areas by adopting the PURA model, an integrated and holistic approach of developing the villages, Dr Kalam lauded the Bank for extending loan facilities to rural areas, adopting a state-of-the-art technology, modern practices of management and expanding its operations in a big way to overseas markets.

He said banks have a role bigger than just providing credit and can lend a hand in spreading and disseminating knowledge.

The President noted that the BoI had emerged as the third largest Nationalised Bank and expressed the hope that in the next 100 years, it would play a catalytic role in speeding up growth and development.

Dr Kalam also wants the banks to go in for promoting venture capital and getting into this business to spread entrepreneurship.

In a manner typical of his style, the President administered an oath to the contingent of students who formed the audience relating to their loyalty to the country, sincereity and hard work in all that they do and imbibing a high sense of moral integrity.

Noting that on Seoptember 7, this year, the BoI would complete 100 years, Mr Chidambaram alluded to the fact that the Bank was started by three business visionaries from three different religions. This was significant in world known for its catholicity and intolerence.

He asked the Bank to devote itself to addressing the needs of those at the ''bottom of the pyrmaid.'' Mr Chidambaram gave a clarion call to the banking industry to make every household credit worthy and work in tandem with the national priorities.

''Corporate social responsibility should always remain on the forefront,'' he said.

Mr Balachandaran spoke about the trust the Bank has with its customers, computerisation of 100 per cent of its branches, and bringing 1,000 branches under core banking solution ahead of the schedule.

On the occasion, Dr Kalam released a book ''The Bank of India story,'' which is an account of the 100 years of existence of the BoI.

The book traces the history of the Bank--pre and post nationalisation-- and the landmark events in its existence.

The President aso launched a trust floated by BoI entitled 'Abhay', which entails setting up Credit Counselling Centres in various parts of the country.

UNI GS AK MIR RAI2240

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X