CENTRAL BANK OF INDIA HOSTS BANCON 2010

Central Bank of India is proud to host BANCON 2010 with around 700 delegates on 3^rd and 4^th December 2010 at Taj Lands End, Bandra (W), Mumbai.  On this occasion CEOs of all Public as well as Private Sector Banks were present which was inaugurated by the Chief Guest Dr D.Subbarao, Governor, Reserve Bank of India.

Shri S.Sridhar, Chairman & Managing Director, Central Bank of India,  welcomed Dr. D.Subbarao, Governor, RBI, Shri O.P.Bhatt Chairman, IBA and SBI, Shri M.D.Mallya, Deputy Chairman of IBA and CMD of Bank of Baroda, distinguished speakers, invitees, delegates. He introduced the theme of BANCON viz. “Transform to Outperform : Ideate, Innovate & Inspire”.  On this occasion research of M/s Mckinsey, Knowledge Partner of BANCON 2010 was released by  Dr.D.Subbarao, Governor, RBI.

It being the momentous occasion for Central Bank of India  as it is entering its Centenary Year later this month, Shri Sridhar  thanked the leadership and guidance of RBI and the GOI in the crisis, post crisis banks and said, bankers are brimming with confidence and raring to go.

Shri O P Bhatt, Chairman, IBA and SBI said that through excellence in Banking Service we can emerge as third largest economy of the world after America and China.  He emphasized on right mindset of all Indians for growth of economy. Shri R Gopalan, Secretary (Financial Services), MOF, GOI also conveyed his message to all delegates on this occasion.

Dr. D Subbarao, Governor, RBI focused on five topics – 1. Are Indian Banks prepared for BASEL III, 2. Are Indian Banks aiming to become global, 3. Should we mandate foreign banks to act as subsidiaries, 4. Why do we need to rewrite laws governing banking sector, 5. Where do Indian Banks stand at efficiency parameters.

He said Banks have shown impressive improvement in the last 15 years.  We are lagging behind peer countries on several efficiency parameters and there are several ways to improve efficiency.  While focusing on efficiency parameters he said larger and better quality of financial intermediation was important.  We need to either increase interest rate on Deposits or decrease the interest rates on borrowings. He said that due to competition, NIM has narrowed from 3% in 1999-2000 to 2.5% in 2010. He said that the financial crisis has taken a devastating toll on the global economy’s well being and put the world economy back by several years.   We should not forget that India too paid a heavy price as crisis interrupted our growth momentum.  We should translate growth into poverty reduction.

The inaugural session ended with the vote of thanks by Shri M.D.Mallya, Deputy Chairman, IBA and CMD, Bank of Baroda.

SOURCE: https://www.centralbankofindia.co.in/upload/news/Press_Editors_Press_Release_bancon_03.doc