Bankers, regulators to discuss ways to revitalise banking sector

Meet to deliberate on host of issues including merger and acquisitions and bad assets

Over 100 senior bankers, insurers, financial sector regulators and finance ministry officials would attend the two-day meet here beginning tomorrow to deliberate on host of issues including merger and acquisitions and bad assets to revitalise the banking sector.

On concluding day, Prime Minister Narendra Modi will address the meet Gyan Sangam, a retreat of chiefs of financial institutions.

Finance Minister Arun Jaitley, Minister of State for Finance Jayant Sinha, RBI Governor Raghuram Rajan, Secretary Department of Financial Services and other senior officials of the department would be attending the meeting.

Heads of PSUs banks such as SBI chairperson Arundhati Bhattacharya, Indian Bank's T M Bhasin, Bank of India chairperson V R Iyer and Corporation Bank CMD S R Bansal will attend the meet.

Besides top bankers, IRDA Chairman T S Vijayan and PFRDA chairman Hemant Contractor would also be present.

"The retreat will start at 1.30 pm on January 2, 2015. After the introductory session where objectives of such an exercise are explained, there will a session on best practices where outstanding work done by banks will be showcased," official statement said.

The second day would begin with regular sessions at 9 am with a talk by Swami Sukhbodhanandji on 'Leadership and Change Management'.

Mergers and acquisitions of PSU banks will be a major theme at the 'Gyan Sangam'. The first of its kind retreat of bankers and insurers to be held here will also deliberate on financial inclusion and direct benefit transfer scheme, two focus areas of the new government.

There will also be sessions by experts, including global consultancy firms, group discussions, sharing and demonstration of best practices and technologies.

The retreat will end with presentation of a draft action plan to Prime Minister Narendra Modi on the second day.

The Prime Minister will be interacting with chiefs of financial institutions at the 'retreat, which is being organised to find out "what has gone wrong and what should be done both by banks as well as by the government to improve and consolidate the position of PSBs.