Source: The Economic Times
Indian Banks’ Association or IBA has taken up reformation of the corporate lending system, dealing with issues like syndicate lending and multiple financing, said its chief executive Sunil Mehta.
“IBA has given its recommendations to RBI,” he said.
The government, however, wants the banking association to have domain experts and not limit itself to an association that passes banking issues to the RBI.
“IBA can also look at providing training and skilling of middle management banking professionals for unburdening the banks in terms of empowering and upskilling the banking professionals in the country,” said financial services secretary Debasish Panda.
The IBA has started its operational office in New Delhi. “IBA in times to come has a very important role to play and must work towards increasing it visibility as a central nodal agency taking up large number of issues,” said Panda urging them to scout for good competent resources and technology adoption for capitalisation.
Rajkiran Rai, chairman IBA noted that the association’s transformation started since 2018 and is now more closely involved in the business side operations than mere advocacy.
Mehta also said that they are involved in finding new solutions for the customers especially during the pandemic and came up with the guidelines for the cohesive functioning of the entire banking system.
IBA will also take over Enhanced Access and Service Excellence (Ease) reforms which is the common reform agenda for all public sector banks aimed at institutionalising clean and smart banking. So far this was largely driven by consultancy firm Bonston Consultancy Group (BCG).
