Daijiworld Media Network – Mangalore (KD)

Mangalore, Jun 9: ‘Banks in India should prepare themselves to face challenges in the future,’ said Indian Bank Association (IBA) chief executive officer H N Sinor.

Addressing the members of Bankers’ Club in the city recently he said public sector banks (PSBs) cannot remain still as several regional rural banks and urban cooperative banks have emerged in the recent past.

Elaborating on the development that has taken place in 10-12 years in the banking industry, he said that the entry of foreign banks in the near future will be a great challenge to the public sector banks (PSB). The banks therefore need to upgrade themselves in all aspects especially in economy and technology before 2009.

Karnataka Bank CMD Ananthakrishna presided over the programme.

Corporation Bank CMD B Sambamurthy, Corporation Bank executive director K L Gopalakrishna and M D Kamath were present on the occasion.