Daijiworld Media Network – Udupi (HB)
Udupi, Feb 25: Former chairman and managing director of Syndicate Bank N Kantha Kumar received the honor of K K Pai National Banking Award for 2014-15 in recognition of his outstanding contribution to banking and his dedication to service sector.
The award presentation function was held at TAPMI, Manipal on Tuesday February 24 and he was felicitated by Ramdas M Pai, president and chancellor of Manipal University. The award included a shawl, garland, cash award, citation, silver plaque memento.
Kantha Kumar has four decades of professional experience. He secured first rank in Bcom from Kerala University and acquired a degree in law. He began his career as an officer of Canara Bank in 1967. He then rose to manager in 1976, and thereafter got promoted as chairman of the bank in 1985.
On January 1, 2015 he was appointed as chairman and managing director of Syndicate Bank. New plans and schemes were enforced by him.
After receiving the honor he reminisced, “We used to address TMA Pai as Pai maam.” He felt great to be part of this mission.
He appreciated the Jan-dhan Yojana scheme introduced by the prime minister. It was a second game changer in economy next to nationalization of the bank of 1969 . Now nearly 73-75% of the banks are zero balance holders. Jan-dhan Yojana has brought about lots of doubts and criticisms, but banks can only reach their target by employing this scheme.
He said that the poor will repay the loan as soon as possible, but this is not in the case of the rich. There is need for concern to be shown over poor people.
Nearly 500 corporators have 30 crores of debts of which the public sector provides 35%, 3% is provided by the regional sector and 30 lakhs are services provided by private banks.
He added that, only 5% of their customers are directly connected to insurance companies and the remaining customers depend on agents. In India, one poor child can be found in every 3 families. Of the world’s population, 30% of the poor are Indians. Kantha Kumar said, “It is our duty to bring them to the mainstream.”
The event began with prayer. K M Udupa welcomed the gathering. K K Ammannaya read the recitation.
Savitha Kantha Kumar, H S Ballal, R C Natarajan, professor H Krishna Bhat and others were present.