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Business Economy


BOI organises consultation meeting in Hyderabad

BOI organises consultation meeting in Hyderabad

Hyderabad, Aug 18 (UNI) Taking forward the agenda of reforms in public sector banks, the department of financial services, Government of India has initiated a multi-layered consultation process and new suggestions at the branch level.

Under this, a consultation meeting was proposed to generate innovative ideas and separate thinking on various issues related to banking so that the banking sector effectively takes the nation into dollar 5 trillion economy.

The top management of the bank held consultations with branch managers at various locations in the country.

In this context, the opening phase of the bottom-up consultative process designated to generate ideas and review performance of banks and their alignment with national priorities was conducted at the zonal level here on Sunday by Bank of India (BOI) involving all branches within the zone’s jurisdiction, BOI Executive Director CG Chaitanya told reporters on the sidelines of the meet here.

Telangana Zone has 64 branches, he said in a first of its kind consultation, which began on Saturday, the branches were themselves engaged in self-assessment, deliberated on the issues and evolved ideas on future strategy.

The 2-day meet focused on the ways and means to increase credit to various sectors of the economy with greater IT content to bring about innovation and leverage big data analytics, said ED.

The idea is to make banking citizen-centric as well as more responsive to the needs and aspiration of senior citizens, farmers, small industrialists, entrepreneurs, youth, students and women, he said.

This meeting was jointly presided by BOI Executive Director CG Chaitanya, Telangana Zone Zonal Manager Murali Krishna Raju and Deputy Zonal Manager C Shobharani.

In this meeting, which was successfully conducted with the active participation of branch managers, a useful discussion was held by BOI regarding the growth of branches business, opportunities and growth prospects, customer requirements, improvement in digitization and sector-specific issues related to local priorities and needs, Chaitanya informed.

The meet also reviewed the Bank’s contribution to various national priorities in areas such as – Credit support for economic growth, infrastructure/industry, farm sector and blue economy, Jal Shakti, MSME sector and MUDRA loans, education loans, export credit, green economy, Swachch Bharat, Financial inclusion and women empowerment, Direct benefit transfers, Less cash/digital economy, ease of living, leveraging local potential, he said.

These suggestions were collated and have been sent for further discussions at the SLBC-State level, along with comparative performance assessment of the branches under each region, he said after SLBC level, final consultations will be held at the National level to compare both intra and inter-bank performances and to finalise the suggestions regarding the way ahead for implementation across PSBs.

The consultative process has resulted in a renewed sense of involvement and purpose down to the branch level and BOI is geared towards implementing the roadmap for the future, improve its performance and further align itself to national priorities, he added.

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