While applauding the phenomenal role played by the banks in the country’s economic growth, Chief Secretary L.V. Subrahmanyam exhorted them to focus on the rural sector, and design something, which the bank managers have in their discretion, for preventing farmer suicides.
The banks should administer “small doses of medicine” to the distressed farmers instead of considering the pressure faced by them as a fait accompli , he suggested, and stressed the need for rural banking to take the centre stage.
Participating as chief guest at a special State-level Bankers’ Committee (SLBC) meeting on the theme ‘Campaign for generation of ideas and inter-bank consultation’ here on Thursday, Mr. Subrahmanyam said nationalisation of banks was still a debatable point, but he personally believed that the public sector banks had the energy and capabilities to deliver their commitments, albeit with the government’s support.
However, they had to give priority to rural banking and generate agricultural surplus that should be moved into other areas of investment.
Farmer suicides was a tragic part of the story, but not one that the banks were incapable of addressing given their resources and experience in driving growth in the rural landscape. Banks should contribute to the creation of wealth in the villages by paying to the farmers the attention they deserved, he stated, insisting that rural bank managers had to play a pivotal role therein, the CS said.
Leadership issue
Mr. Subrahmanyam said banks should come up with a leadership programme as they could not afford to have managers who can’t speak, who don’t understand rules, who dodge issues, and who hide behind the labyrinth of procedures.
While grooming competent and strong leaders, banks should understand that permanent employment was no longer the norm, and they have to extend the requisite manpower support to rural branches by engaging people through outsourcing, or taking them on contract to better serve the customers, thereby repose their confidence.
Individuals should be encouraged to take rural postings, but it should not be made a qualifying thing for climbing up the ladder lest it should be counter-productive, he added, and promised to fulfil the banks’ requirements.
Andhra Bank Managing Director and CEO and SLBC president J. Packirisamy and SLBC convener K.V. Nancharaiah were among others present.
