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Business Standard Banking Round Table 2013

  • Business Standard, Banking, Aditya Puri, Chanda Kochhar
    From Left: Pramit Jhaveri, CEO, Citibank India, Debabrata Sarkar, Chariman & MD,Union Bank of India, Stuart Milne, CEO, The Hongkong and ...

    The Business Standard Banking Round Table 2013 was held on Tuesday in Mumbai. The country's leading bankers said they were almost certain of a third consecutive policy rate increase from RBI in its mid-quarter policy review next month. Panelists were of the opinion that another repo rate hike seemed inevitable though it might not be a desirable option. Follow the slideshow to get a gist of who said what at the conclave.

  • Chanda Kochar, ICICI Bank

    "High interest rates are required because they are a tool to control inflation. But if you ask if it is desirable to bring down interest rates, it is indeed desirable when you look at the growth compulsions of the economy"

  • Shikha Sharma, Axis Bank

    “RBI will decide the right policy for growth and inflation, I don’t think standard economics has all the answers to the problems in a fast-evolving world...We need a benign interest rate environment"

  • Stuart Milne, HSBC

    "There is absolutely no doubt that the requirement of an 18 per cent agriculture loan target is a very significant hurdle to growth for foreign banks;even Indian public sector banks are not able to consistently deliver those targets."

  • Aditya Puri, HDFC Bank

    "Inflation has to be controlled; otherwise, it will affect long-term growth. RBI has said it cannot control this wholly through monetary policy and there has to be control on the fiscal side as well.You cannot bring the interest rates down till you solve the infrastructure around it"

  • Debabrata Sarkar, Union Bank of India

    "Companies are apprehensive whether the time is right for making investments. Another issue is lack of clearances. The other apprehension is over getting return on investments or capital"

  • Pramit Jhaveri, Citibank India

    "I don't think our strategy, even if we were given unfettered access to branches, is ever going to be to try and compete with our friends on the table. They have 4,000 branches.I don't think that Citi is looking at several hundred or thousand branches over the next 5-10 years"

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