27, May 2024
Inauguration of 10th branch of Sree Charan Cooperative Bank at Kodigehalli
“Banks grow only if there is faith” – Former Chief Justice P. S. Dinesh Kumar
Bengaluru, May 27: Banking is a service that depends much on faith and the banking sector grows if there is absolute faith,” said Justice P. S. Dinesh Kumar, former Chief Justice of Karnataka here on Monday.
Speaking after inaugurating the 10th branch of Sree Charan Cooperative Bank near Sahakaranagar at Kodigehalli, Justice Dinesh Kumar said if the faith in the bank becomes strong and leads to deposits, then the banks are bound to grow and develop.
“We need to do everything that is possible to ensure that the people develop absolute faith in the banking practices,” Justice Dinesh Kumar added.
Stating that the banking services should increase in the present modern times by providing absolute services, Justice Kumar said the banks can offer better services to people if more branches are opened.
He said Dwarakanath and his team are doing immense service to the people through Sree Charan Cooperative Bank.
Speaking on the occasion, Chief Editor of Public TV H.R. Ranganath said it is difficult to work with honesty and righteousness in the present day. The biggest inadequacy of the banking sector is the absence of faith. The Cooperative banking sector has witnessed everything which ought not to have happened.
“However, Sree Charan Bank is an exception. By opening its 10th branch, it is growing with a good pace. Cautious approach is the need of the hour. We must keep in mind that those who keep deposit have earned their money in a hard way,” Ranganath added.
B. V. Dwarakanath, Founder-Chairman of Sree Charan Cooperative Bank, Gayathri Dwarakanath, Director M. Gopinath, Vice President Shubhapradha, senior administrator T. N. Geetha, and others were present on the occasion.
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- By Rabindra
23, Dec 2023
Jaya Vaidhyanathan, CEO, BCT Digital, around banking sector and unsecured loans.
As we stand on the cusp of 2023, the RBI’s decision stands as a beacon of prudence and foresight. Elevating risk weights for personal loans underscores our commitment to responsible lending and financial stability. It’s a timely intervention, echoing caution against the allure of easy credit in the unsecured consumer loans sphere. While the monetary impact of potential bad loans might seem limited, the sheer volume of individuals attracted to non-productive borrowing, particularly for items like gadgets, warrants our attention. This measure serves as a safeguard against lenient loan practices, drawing from historical lessons that highlight the risks stemming from lax appraisals in credit card and personal loan domains.
Moreover, it’s not just about reining in lending institutions; it’s a concerted effort to protect the public. The RBI’s broader focus, spanning from crackdowns on unregulated lending apps to cautioning against speculative market behaviour, reflects a holistic strategy. As we celebrate the resilient state of our banking system post the past decade’s trials, it’s imperative to acknowledge and address the mounting concerns in the peripheries—Fintechs, NBFCs, and the stock market. Our financial health depends not just on the stability of our banks but on a vigilant approach to the evolving challenges in adjacent financial sectors.
In 2024, Indian banks will stand at a pivotal juncture. With only 10% employing integrated risk management as per the FIBAC’ 23 survey, a strategic shift is imperative. Also, the climate change brings a duality of opportunity and risk—$2.5 trillion in green finance potential and risk of allotting significant credit to industries, vulnerable to climate change. Adopting dedicated risk management frameworks, embracing innovative models and effective technology will be key in navigating these challenges, ensuring resilience, and capitalizing on emerging opportunities.
