Narendra Modi, India’s Prime Minister is meeting bankers in Pune to discuss the future of banking. Debashis Basu of Moneylife.com has a set of questions that he wants the PM to ask.
I am adding a little more:
1. In the Board Meetings that you hold is any specific task given to your Executive Directors ?
2. What exactly do the non Executive Members of your Board do?
3. If the spread between borrowing and lending is so high, why are you constantly asking RBI to REDUCE interest rates?
4. There are so many PSU banks, how come all of you charge the same interest rates?
5. How much money is spent on training – and how much is really spent on some useful training?
6. You also have an insurance arm and a mutual fund arm. Seriously, should the government not have just one LIC and one UTI?
7. Why not merge all the psu mutual funds and all the psu life insurance companies – we can buy out the foreign partner?
8. How many of your employees go and meet clients for increasing GOOD QUALITY business?
9. How serious is the audit report from the branches? do you even read them?
10. Are the auditors part of the problem or a part of the solution?
11. Is your Board / RBI a part of the problem or a cause of the problem?
12. Why do you need so many guest houses and who really uses them?
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