MITCON Institute of management, Balewadi, Pune-411045.
Dr. Muhammad Yunus, 2006 Nobel Peace prize winner and pioneer of Grameen bank, says "I did something that challenged the banking world. Conventional banks look for the rich; we look for the absolutely poor. All people are entrepreneurs, but many don't have the opportunity to find that out…." In a vast country like India for banks to sustain in the changing times they need to find, nurture and help such entrepreneurs. Look at the poor, unprivileged and particularly agricultural sector which has tremendous potential. As remarked by the RBI Deputy Governor Mr. V. Leeladhar, the banks are well advised to ensure that their business strategies and decisions are guided by the longer term perspective of the systematic and macro-economic developments. Bankers should not be unduly influenced by the current episode in US. Measures announced by the RBI to tackle credit crisis are ad-hoc in nature. PSU Banks will do well if they plan for the long term sustainability.
