Udupi: Strong Fundamentals, Progressive Policies Held Indian Banks in Good Stead – Leeladhar

Daijiworld Media Network – Udupi (SP)

Udupi, Jan 2: “Banks and economic systems elsewhere in the world collapsed because of recession. However, Indian Banks could withstand these negative developments because of their strong fundamentals, traditional banking principles and their adaptation to modern technology,” felt retired deputy governor of Reserve Bank of India, V Leeladhar.

He was speaking after accepting the ‘New Year Award’ conferred on him jointly by the Academy of General Education, Syndicate Bank and Rotary Club Udupi-Manipal, at a function organized at Hotel Velley View, Manipal, on Friday January 1.

He pointed out, that in USA alone, 58 banks, each of which were as big as Bank of Baroda, a leading bank in public sector, ceased to exist in the last two years. But because of their unique nature, Indian banks have remained strong as ever, he said. He gave credit for turning him from being an engineer into a professional banker, to T A Pai, who was the chairman of Syndicate Bank when he joined the bank, and who advised him to take to banking instead of engineering.

Dr Ramadas S Pai, chancellor of Manipal University, handed over the award to retired vice-chancellor of the University, Dr M S Valiathan. Veteran entrepreneur and philanthropist, R N Shetty, received the award from Academy of General Education’s president, Dr A Krishna Rao. Retired chairman and managing director of Syndicate Bank, D T Pai, handed over the award to V Leeladhar. Rotary Club president, Karunakar Shetty, conferred the award on social worker, Mitra K Bhandarkar.

Dr M S Valiathan hailed Manipal group heads for continuing to follow the ideals laid down by the late Dr T M A Pai. Dr R N Shetty requested the people to wholeheartedly donate to the cause of mitigating the sufferings of the flood-affected people of north Karnataka. He reiterated, ‘where there is a will, there is a way’, telling the youths that they can come up in life, if they make up their minds to do so. Mitra Bhandarkar dedicated the award to the late K K Bhandarkar, saying that the cash component of the award would be routed to education and health sectors.

Rotary governor, Dr K Ravi Appaji, presided. Veteran journalist, Dr M V Kamath, delivered felicitation address. Dr A Krishna Rao welcomed, while administrative officer of the Academy, Dr H Shantaram, proposed vote of thanks. Karunakar Shetty, Melaka Manipal Medical College dean, Dr Ram Narayan, prof Narayan, Syndicate Bank general manager, Srihari Bhat and Dr H J Gouri introduced the awardees.