KOCHI: The global credit crisis would have minimum impact on the Indian economy, said M.V. Nair, Chairman and Managing Director of Union Bank of India. He was addressing a meeting of State Forum of Bankers’ Clubs here. The Indian economy’s fundamentals are strong. The impact on the financial institutions would not be very significant as they were well insulated, thanks to the measures taken by the regulators. Catholic Syrian Bank chairman Venkitaraman said that allowing small banks to function independently would be the ideal course of action to protect the interests of the people and the country. Dhanalakshmi Bank general manager Jayakumar said government should retain 51 per cent share in public sector banks. Federal Bank general manager Abraham Tharian, SBT deputy general manager Vasudevan, HDFC deputy general manager Nandakumar, State Bankers’ Club general secretary T.U. Balakrishnan and State Forum of Bankers’ Clubs president L.R.R. Warrier spoke.