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IBA Urged to Play Key Role in Economic Reforms

Debasish Panda, Secretary, department of financial services, has urged the Indian Banks’ Association to play a pivotal role in the resurgence of the economy.

Inaugurating the Delhi office of the IBA, the IAS officer said, “IBA must work towards increasing its visibility as a central nodal agency taking up a large number of issues. I urge the IBA Chairman to scout for good, competent resources and technology adoption for capitalisation. IBA should not be merely an association that passes banking issues to the RBI. It must rather strive to integrate with economic reforms for auguring growth.”

Panda also informed that the Cabinet has approved the guarantee for the National Asset Reconstruction Company.

Rajkiran Rai, Chairman, IBA said, “Today, expectations from the IBA are much higher as it is working towards institutionalising key changes in the form of the doorstep banking and has got recognition from the regulators.”

Sunil Mehta, Chief Executive, IBA, said that IBA will now look at integrating itself into business. IBA has recently taken up reformation of the corporate lending system. PSB alliance through doorstep banking is another initiative undertaken under the EASE reform agenda, he added.

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