Breaking Misconceptions
What inspired you to put your story out there through this book?
The main reason was that the period when I became the Chairman could be said to be one of the most tumultuous periods of the Indian banking sector. The banking system was facing concerns about non-performing loans (NPL) and profit pressures. Public sector banks were battling competition from the private sector and new-age companies from the fintech sector.
During my period as managing director, the banking system had to deal with demonetisation. There were also many positive things at the time like digitisation and financial inclusion initiatives from the government of India in which banks were playing a critical role. When the Yes Bank incident happened, and State Bank stepped in for its rescue, people wanted to know why and how it happened. Many would ask me these questions.
Therefore, I decided to put my thoughts together and give some answers to the questions that the general public is interested in. This book is not only for bankers but has been written keeping the layman in mind.
Policy changes do lead to mistrust among people. Could you share more on how you addressed some of this in the book?
Whenever I heard TV debates or read newspapers on subjects such as NPL, I would feel that the discussions were not well informed. They were not based on facts and figures or on how decision-making happens in banks. Bankers have often been painted as villains without realising the contribution they made to the economic development of the country. Banks in India have played a very significant role in taking banking to every corner of the country.
These are some of the issues I wanted to highlight in the book and remove the misconceptions as much as possible.
What are some of the feedback that you received so far?
I am very satisfied with the kind of response it received. Many people, whom I don’t know, would tell me they have read the book and have liked it. These are people I have met at airports and such places and most are from the banking and financial sector. I feel content that the purpose with which the book was written is served to a large extent.
