Shri S. Venkataraman, Chief General Manager, SBI,

Dr. M.R. Rajagopal (MD & Chairman, Pallium India & Director, Trivandrum Institute of Palliative Sciences),

Shri C.R. Sasikumar, Deputy Managing Director, SBI,

Shri R. Sankaranarayanan, Circle Development Officer,

Shri P. Ravikumar, Secretary, Circle Welfare Committee,

Shri Ashok Kumar Peer, General Manager, Network-II,

Shri Alok Kumar Sharma, General Manager, Network-I,

Shri J.K. Thakar, General Manager, Network-III,

Shri V. Muralidharan, General Secretary, SBIOA (KC),

Shri A. Jayakumar, General Secretary, SBSU (KC),

Sahodaree Sahodaranmaare,

Ellaavarkkum Ente Namaskaaram,

       It gives me great pleasure to address you on the occasion of the Foundation Day of State Bank of India, which is currently the largest commercial Bank in the country.

       I am certain that this year's Bank Day would have something special about it, since it was only very recently that State Bank of India joined the league of top 50 banks globally in terms of assets and lending power.              This was made possible through the merger of its Associate Banks including Kerala’s own State Bank of Travancore.    

It also means that members of the Associate Banks, who have now become part of the SBI family would also be joining this celebration. Therefore, let me begin by congratulating every member of the State Bank of India family on the recent accomplishments of their Bank.

       As we all know, though the Bank has a history of over two centuries, beginning in 1806, it was only on July 1, 1955 that the Imperial Bank of India was reconstituted by an Act of Parliament to create State Bank of India to perform the functions of a commercial Bank. This marked the start of a new era in Banking in the country and today, SBI has an asset base of Rs.37 lakh crore spreading across the length and breadth of the nation. There are more than 50 crore customers who are able to access 22,500 branches and 58,000 ATMs across the country.

       It is said that the success of a business entity depends on its ability to change and evolve in accordance with the changing environment. The Bank also does business, but is guided by the commitment to serve society. Thus, the success of a Bank will depend on the trust and confidence the people bestow on it. I am happy that SBI has won this trust to continue as the country’s champion among banks and to create enduring value. The post-merger era is also expected to enhance productivity, increase operational efficiency and above all, ensure better customer service.

       In this technology driven era, the existing business models in the financial sector have to identify new opportunities through continuous innovation. With  consumers preferring to use more online services in   personal and retail activities, the  financial sector faces stiff competition from different service providers who have built strong relationships with consumers.

In our country, the banks have been helping in economic development by stimulating savings and investment.  In the process, some banks face the risk of bad loans and therefore, risk management needs priority. There is also an urgent need to handle the rising trend in the Non-Performing Assets and to improve governance.

At the same time, I would also like to draw your attention to the general perception about banks as   institutions that would rely more on collateral security and not on the needs of people. It is true that creation of customers is a primary aim of any business and with the introduction of the Jan Dhan Yojana, the customer base of all banks has seen a great increase. But, have they won the confidence of the common man?  There lies the greater challenge and to achieve this trust, our yardsticks for assessing the needs and worth of a customer, especially at the grassroots level, may require a drastic change. 

Society expects a positive change in the perception of the banks about people at the grassroots level, like small farmers and petty traders. The banks have given some priority to the agricultural sector, but the farmer at the micro level is yet to offer the banks his full trust.  The Bank may help him, but will they be generous if his crop fails?  As long as he is not certain, we cannot expect his trust.  Besides, there is also a feeling that Banks will be generous to defaulters of loans worth crores, but would be ruthless with people who avail small loans including educational loans.  It may not be true, but we need to handle this issue with due seriousness.  Instead of rushing to Court for recovery of loan amount from the above categories,  I request all banks to avail ‘Lok Adalats’ by way of negotiation and settlement.  

        It is satisfying to note that State Bank of India is handling such issues in a professional manner. As the leading Bank in the State and the country, State Bank of India has the responsibility to set a model to other Banks through the implementation of the most people friendly measures. Banking services should never discriminate people. Inclusion of people from all walks of life should be the aim of banks, which should also work in tandem with Self-Help Groups (SHGs) and other agencies to extend services to the masses.

I am happy that today, State Bank of India has chosen to donate a wheel chair-friendly vehicle to Pallium India, which has been providing solace to many cancer patients in Kerala. This gesture deserves appreciation.

I sincerely hope that State Bank of India would become the preferred choice of the majority of people in Kerala through faster and more efficient service.

I greet all the employees and their family members participating in this programme and wish them all the best.

I also compliment the organizers for conducting this function in a befitting manner.

Ellaavarkkum Ente Aashamsakal

Nanni  

  Jai Hind