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Topic : The Best Of Banking & Investments....
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Do we need more banks??

Created by : Kiran Kumar Reddy, Business Analyst, SAP  | 09 15 2010 08:10:53 +0000
Industry : BankingFunctional Area : India(Markets)
Keywords : rbi indian banks private banks psu banks icici bank hdfc bank reserve bank of india axis bank canara bank corporation bank do we need more banks in india? vijaya bank more banks in india
Activity:  454 views;  last activity : 04 14 2011 07:09:56 +0000

The Reserve Bank of India has, at a time when banking around the world is becoming consolidated, issued a discussion paper on the entry of new banks in the private sector. This is based on the finance minister’s budget speech in which he said that there is a “need to extend the geographic coverage of banks and improve access to banking services.” This means that more branches need to be opened in villages and smaller areas so that more would have access to banking services.

But,  do we need more banks or o we need stronger ones?

  
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We need more banks Vs We need stronger banks
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Top Argument
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we need both Strong banks as well as more banks The logic is simple there r very few indians( 30% at max) who have anything to do with banks so to make every indian part of banking users we need more varieties of banks who caters to the needs of who doesn't use banking system SBI's aim of Bankers to every indian doesn't going to work Its only more banks entering the market which creates  competition which at the end brings untapped customers in to the system
By CHINTAN , Security/ Equity Research Analyst, chintaninc  09 15 2010 11:06:28 +0000
 
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I think than more number of banks we need banks which are stable and which are having strong capital with them.  The first question that comes to mind is whether industrial houses should be permitted to promote new banks. The RBI says that licenses can be granted, provided the promoter group has no involvement in real estate (because of its speculative nature). The banks promoted by financial institutions like ICICI bank, Axis bank, HDFC bank, These three have grown significantly and are professionally run.  So than more banks, we need stronger ones who are already in the picture.
By Kiran Kumar Reddy, Business Analyst, SAP  09 15 2010 08:24:03 +0000
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We ceratinly need more banks in rural areas and there is no second thought about it.
By Suryanarayan Murthy, Asst Vice President (Corporate Finance), A Hydro Power Project  | 04 14 2011 07:09:55 +0000
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We need more banks specially in rural and semi urban ares. I don't think the present banking system is enough to cover the country.
By Shashi Kumar U, Manager accounts & commercial, Mazda Concrete Products Pvt Ltd  | 12 20 2010 04:26:48 +0000
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We need stronger banks that follow economics and governance properly. It's not necessary to have more banks, but better ones are more necessary.
By neha singh, Content Editor, Avestia Corp  | 09 21 2010 17:28:13 +0000
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Your question can please be reframed as Branches instead of banks.More banks with focus on  more branches will sure be helpful to us and the govts.
By s.baalu , Consultant, XYZ LTD  | 09 20 2010 11:38:10 +0000
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Mr.Aditya,

How are we going to pool the resource then. You mean, just by consolidating the banks, enabling power lobbies. Resources are with people, it is to be realized & get mobilized with various schemes . And, ofcourse, the Banks at these ends will work as Instrument to do that.
By KALIYAMOORTHY , Oil & Gas Area Coordinator, Undisclosed  | 09 17 2010 07:59:19 +0000
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Mobile banking can reach out to the unreachable at this point of time. Existing and expanding banks and other forms of micro finance institutions have to come out with new packages to get many into their fold for improved services and getting into using banking services newly.
By dommaraju krishnamaraju, CEO/MD/Director, wine legendIndia pvt ltd  | 09 16 2010 04:33:40 +0000
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Agree with Mr. Chintan,

To a larger extent, the existence of banks should prove that they meet the needs of Ordinary people's basic requirements. It should not , always focus on business (earn money only). Hardly, I find any Bank doing this. Of course, everyone is minding about money. It is no doubt. But, they should , also , mind about a bit to serve the Poor. Banks need to come forward with innovative schemes to help advance Ordinary peoples life . Merely, transacting money between the HAVE'S is not the one we desire.

Banks should reach beyond its scope to help the needy in all possible manner so that, their economic development contributes to the Nation. Keeping such ideals, more and more Banks, should be opened up.

Can we say that the role need to be modified as "Help Desk " rather than calling it as "Financial Institutions".

Of late. in Hydrabad, a Bank is opened where, the Customers are, only by invitation & minimum to have in account  is 01 crore.
By KALIYAMOORTHY , Oil & Gas Area Coordinator, Undisclosed  | 09 15 2010 15:19:18 +0000
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WE SURELY NEED MORE BANKS... & ONLY STRONGER BANKS CAN HAVE MORE BANKS ( Branches )  !

India is more about its 5 LAC + Villages, rather than its FEW THOUSAND Towns & Cities.

More Banks means more access to Banking, more easy reach, more people will Us Banking Services n so on...

It has been largely observed that most Village Branches are more richer than their city counterparts. We should have the facility to be able to Bank from anywhere in the Country.  
By Naushad H.L., Creative Director, MAD COMMUNICATION  | 09 15 2010 10:04:37 +0000
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Eko India Financial Services Private Limited provides Eko, a technology solution for banks to offer mobile banking services in India. Its solution provides peer-to-peer money transfers, cash deposits and withdrawal, wage and salary payments, micro-insurance, and micro-credit functionalities to individuals by dialing numbers on a mobile handset at various customer service points, including kirana stores, grocer shops, petrol pumps, and PCOs. The company�s solution enables banks to provide banking facilities to urban, rural, and far flung areas, as well as to people who are unbanked section of the population. Eko India Financial Services Private Limited was founded in 2007 and is based in New Delhi, India
By Harender Singh, Marketing Manager, Eko India Financial Services  | 04 14 2011 06:11:38 +0000
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We dont need any futher more banks. India have 88 schuduled commerical banks operating even before our independence but still they have not reached rural areas in totto.So by permitting new banks to the industry may not serve the purpose as we could not expect them to do miracles in the short time in which the other schudleled banks could not do over the years. Insted we can go for consolidation of Banks and relocating the Branches of existing metro and urban area branches, which have reached their saturation and where physical presence is not required to cater the needs due to technology advancement , to the unbanked rural areas-hari Krishna

 
By Hari Krishna, Manager, union bank of india  | 03 09 2011 10:22:48 +0000
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We need stronger banks which can support young entrepreneur and not just big and established businessman.
By Nilesh Pawar, Legal & Secretarial, Valencia Professional & Management Services LLP  | 02 25 2011 09:51:40 +0000
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We need banks which are stronger in terms of reserves,and asset.the only things needed now is to increase the reach to rural areas where few banks already initiated the process
By amit urmaliya, Relationship Manager, Leading bank  | 12 21 2010 09:41:09 +0000
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Hello Kiran, We need stronger banks and coverage/network should be wider. This will help from our ordinary/ business citizen can access any facility from the nationalized / private Banks.

K Rajagopalan,    
By k Rajagopalan, Area Manager, Amitex Polymers (P) Ltd.  | 09 26 2010 17:42:29 +0000
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Yes your opinions are acceptable and further we need more and strong banks in the rural areas to cater the needs of the customers at a very reasonable lending rates, which will facilitate the repaying of the loan amounts.

Thanks Mr. Kiran Kumar Reddy.

 
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 09 21 2010 17:03:30 +0000
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Thanks Kiran. Definately we need stronger banks with good customer oriented services and better financial background. Every time we look up to the Govt. when there is the question of financial background. Which means even after more than of sixty years of independance we still are dependent on the Govt. for financial background. This should change.


By Aditya Sharma, Insurance Advisor/Analyst, LIC OF INDIA, ICICI LOMBARD  | 09 17 2010 06:40:22 +0000
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we need stronger bank only not more banks example SBI they joining all state banks with them if it's completed once u will transfer your money any where any time if your in small village yes you will transfer your money to any major city or rural bank account
By paranivelan , Sr.Executive, secure network solution india pvt ltd  | 09 16 2010 04:21:42 +0000
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to compete, you need to have size, the biggest indian bamk has just entered the fortune500, size gives economies of scale and covers and spreads risk
By V. Srinivas, Freelancer, Information Technology  | 09 15 2010 14:30:04 +0000
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No we dont need more banks.....as i discussed in one of my discussion of DEnatinalisation, the banks need to be stronger enough to take new challenges in the customer centric business environment. Instead, i wud suggest to combine all the PSBs into 3-4 major banks to serve customers better. Think about it...
By Sandeep Kule, Managing Director, Endeavor Finance & Tax Consultant  | 09 15 2010 08:24:56 +0000
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