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Multi-level consultation and ideation at United Bank of India(UBI)meeting

Multi-level consultation and ideation at United Bank of India(UBI)meeting

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  19 Aug 2019 7:00 AM GMT

Guwahati: The first stage of bottom-up consultative process designed to generate ideas and review performance of banks and their alignment with national priorities, was conducted at the Guwahati regional level on Saturday by United Bank of India, involving all branches within Guwahati Region’s jurisdiction. This was a first of its kind consultation where the branches were themselves asked to review their performance, deliberate on the issues before the banking sector, and ideate on future strategy and the way forward. The meet focused on the ways and means to increase credit to various sectors of the economy, enhance use of technology to bring about innovation and enable big data analytics, and make banking citizen-centric as well as more responsive to the needs and aspirations of senior citizens, farmers, small industrialists, entrepreneurs, youth, students and women.

The nine thematic papers by domain experts on various challenges facing the banking sector like Increasing Digital Payments, Corporate Governance in PSBs, Credit for India’s MSMEs, Use of Technology in PSBs, Retail Lending – A Great Opportunity, Agriculture Credit, Export Credit in India, Need to Establish Financial Grid, Enabling Bank Credit towards a $5Tn Economy were discussed during the meet with a view to suggest reforms in Public Sector Banks (PSBs), and the future roadmap for them.

The meet also reviewed the region’s performance, and its alignment with national priorities in areas such as credit support for economic growth, infrastructure/industry, farm sector and Blue economy, Jal Shakti, MSME sector and MUDRA loans, Education loans, Export credit, green economy, Swachh Bharat, financial inclusion and women empowerment, direct benefit transfers, less cash/digital economy, ease of living, alignment with local priorities, and corporate social responsibility.

These suggestions were collated and have been sent to the H.O.level for further discussions at the SLBC/State level, along with comparative performance assessment of the branches under each region. After the SLBC level, final consultations will be held at the national level. A press release stated.

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