RBI Governor promises to simplify manuals

Hyderabad, Nov 5: The Reserve Bank of India was in the process of simplying its manuals and also coming out in all the major regional languages to facilitate mass banking in the country, according to RBI Governor Y V Reddy.

Most of the RBI manuals were derived from the East India company and during the British regime and not easily understandable even by bankers, he noted while delivering the valedictory address at the ''Bancon-06'', a conclave of Indian banks.

''We need to translate them into regional languagues so that they can be understood even by commoners'', he added.

Likening Mass banking to a film that attracted the masses, he said only mass films are a success at the box office, to drive home the point that in their own interest all banks should replace class banking culture with mass banking approach to improve their business.

UNI