Andhra Bank, a leading financial institution, for the first time has initiated the first stage of bottom-up consultative process which is designed to generate innovative ideas and review performance of their banks and their alignment with national priorities, said the bank’s Zonal Manager here.
A two-day consultative meeting at the zonal level was conducted here on August 17and 18 involving all the branches within the zonal jurisdiction.
This was first of its kind consultation where the branches themselves were asked to review and introspect their own performances, deliberate on the issues before the banking sector, and debate on future strategy and the way forward.
The meet focused on the ways and means to increase credit to various sectors of economy, enhance the use of state of the art technology to bring about innovation and enable big data analytics and make banking more citizen-centric and responsive to the needs and aspirations of senior citizens, farmers, small industrialists, youth entrepreneurs, students, and women.
As a result of such
extensive consultation, a number of implementable and innovative suggestions came up on how the bank may improve their performance suggesting the roadmap for the
future.
These suggestions are being collated and will be sent to higher authorities for further discussion and scrutiny at SLBC along with comparative performance assessment of the branches under each zone.
After the SLBC level, final consultation will be held at national level to compare both intra and interbank performances and to finalize the suggestions regarding the way ahead for implementation across PSBs.