Left: Chief Secretary, Puneet Kumar Goel along with Suhel Shet, Founder and Managing Director Counselage India and Rajnish Kumar, former Chairman, SBI after the release of the latter's book "A Banker's Memoir" at Taj Convention Centre on Tuesday. Captured by : Narayan Pissurlenkar
PANAJI
Most of the banks faced financial blow, owing to the absence of ways to control the transactions of the banks and unable to cross the obstacles faced during the recovery of the unpaid amount of loans, stated former chairman of the State Bank of India Rajnish Kumar after the launch of his book, ‘The custodian of trusts “ A banker’s memoir’ at the Taj Resort and Convention Centre on Tuesday. The book was released at the hands of the Chief Secretary Puneet Kumar Goel.
“I have known Rajnish Kumar since my childhood and his guidance has been pivotal in my life,” stated Chief Secretary Puneet Kumar Goel after the book release in an interaction with Suhel Seth, founder and managing director, Counselage India. The discussions were mostly on the business of banks, financial status of the country, demonetisation etc.
"The other banks are facing different challenges than the State Bank of India, as SBI works on a value-based concept. Some other banks have no working system that is based on values and have no tight control over their transactions or their business. The SBI has control over its working and here the system is based on principles. No government project gets a green signal unless the funds are sanctioned by the SBI. SBI is more trustworthy than other banks. Without a value-based system, no organisation can work in an efficient way, Rajnish Kumar said.
The public suffered initially due to demonetisation. But things changed for the better later. After the demonetisation, the SBI organised the finances. The SBI could find a way out because of its appropriate planning and the capability to face the challenge.
“A bigger percentage of India’s population is poor and illiterate. That’s the reason why most financial transactions take place with the exchange of currency notes. Countries like Germany, Japan or America also use currency notes in a big way. If someone has currency, that does not mean he has black money,” stated Rajnish Kumar.
Goa has a lot of scope for the IT industry. If appropriate policies are made and ease of business is applied in the process of starting a business, Goa has potential and prospects of making progress, stated Rajnish Kumar.
