RBI Governor and SBI chief at a banking conclave in Mumbai
Reserve Bank of India Governor Raghuram Rajan and State Bank of India chairperson Arundhati Bhattacharya spoke at an interactive session of a banking conclave held in Mumbai. Here are the highlights from the interaction:
- Rajan: New banks won't compete with banks
- Rajan: Payment banks bring in new players
- Rajan: Payment banks to act as feeders to universal banks
- Rajan: Licences for small banks may be announced next month
- SBI chief: Capital goods suppliers' order books looking up
- SBI chief: Manufacturing seems to be getting off bottom
- SBI chief: Rural and urban demand stay muted
- Rajan: Slow pace of rate-cut transmission by banks a concern
- Rajan: Real estate prices need to correct
- Rajan: Need to wait for markets to clear
- Rajan: Good monsoon to lead rural demand
- Rajan: Long-term yuan depreciation worrisome
- Rajan: Need to watch export front
- Rajan: Premature to panic on exports
- SBI chief: We have a 'missing middle' level management
- SBI chief: Trying to recruit from campus
- SBI chief: Plan to hire on contract from campus
- SBI chief: Getting right manpower is a challenge
- SBI chief: ESOPs or stock options will help keep top management engaged
- SBI chief: Little incentive to lend to NPA (non-performing assets) accounts
- SBI chief: Ever-greening comes from lack of trust
- Rajan: Universal banks have to give full services
- Rajan: Banking will become more competitive
- Rajan: Banks customers will get rewarded
- Rajan: Credit spreads large on recoveries
- Rajan: Regulator cannot nip innovations
- Rajan: New models of currency will come
- Rajan: Increasing our market intelligence
- Rajan: Crowd-funding doesn't have clear rule
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