Resurgence of Banks’ Firmness of purpose (India Centric) First Requirement.
In one of my earlier posts ( on “Banks’ Power and Capabilities on Test-bed” – on 10 Nov 2013) I concluded with the statement that ‘there are some essential requirements to effect the strategies’ and added that I will deal with some separately.
I now present briefly the chief requirement as I see in this critical period of uncertainty and the need for banks to enhance their image and reputation to meet the impending competition effectively.
My proposal in this context is for every Bank to identify an able, sagacious and skilful ‘PROMACHOS’ as Leader acting and conducting the affairs on the principle of synteresis ( operating by fide et fiducia, fide amore, and fide et fortitudine ). How will he conduct himself ? Simple for the serious minded.
Just recall Late Raj Kumar Talwar’s ( Former Chairman of the State Bank of India, and ‘Titan of Bank Management’ ) VISION and ACCOMPLISHMENTS enshrined in total COMMITMENT & VALUES – a study in management for professionals/students/employees/and everyone connected with Banking in India.
1. His singular message : “Honesty is the Best Protection”. 2. His structural Reorganization and Systems overhaul of SBI with Indian experts is a landmark reform that was the harbinger to other banks for two decades and more. 3. MSME ( Micro, Small, Medium Enterprises ) we speak of now had its genesis founded on the excellent PUSH that Talwar gave to Small Scale Industries at a time when BIG Industries were the darlings. 4. His mark of Leadership bore the conviction that “Need-based-Lending” shall be the cardinal principle. 5. He developed Systems for efficient/effective UTILISATION of FUNDS ahead of Tandon Committee’s Recommendations. 6. His decisions based on QUICK & ACCURATE ANALYSIS affording solutions to every problem he faced with is a model in DECISION-MAKING. 7. The freedom/leeway he extended to his subordinates to take decisions EVEN BEFORE RATIFICATION ( provided analytically sound and factually impenetrable ) enthused them to strive for perfection. 8. His principles and practices – insights and foresight – are what we are discepting even now in the context of the Global Financial Crisis albeit without any acknowledgement/reference/mention even superficially.
Sad, his service had to be forcibly cut short just when he was 54 ( in the year 1976 ).
” Every Bank needs a Raj Kumar Talwar today not just for the good of the individual banks, but also for a clean and efficient BANKING SYSTEM.”
I will continue to deal with some other requirements separately in due course of time.
” Dieu avec nous “
Saturday, November 16, 2013 – 8.00 p.m. (IST)
Tidbit : “Banking may well be a career from which no man really recovers.” – John Kenneth Galbraith.