2016 year of reck­on­ing for In­dia's bank­ing sec­tor: Kapoor

The Pak Banker - - FRONT PAGE -

Rana Kapoor, Man­ag­ing Di­rec­tor and CEO of YesBank says the right mix of fis­cal and mon­e­tary pol­icy ac­tion, cou­pled with the turn­around in the global econ­omy, will boost In­dia's eco­nomic and in­dus­trial growth. As In­dia en­ters the 67th year of be­ing a strong and vi­brant re­pub­lic, Rana Kapoor, Man­ag­ing Di­rec­tor and CEO of YesBank that 2016 will be In­dian bank­ing's year of reck­on­ing and the signs are omi­nous. In­dia has per­formed rel­a­tively well in 2015 de­spite the global econ­omy be­ing mired in volatil­ity. Most macroe­co­nomic in­di­ca­tors have out­per­formed this year, with GDP growth at nearly 7.5 per cent stand­ing out amongst peers.

In­dia def­i­nitely de­serves the praise of be­ing a ' bright spot in an oth­er­wise gloomy global econ­omy'; and as we look for­ward to 2016, the time is right to seize the op­por­tu­nity.

A stronger cycli­cal pick-up in pub­lic and pri­vate in­vest­ment and a broader re­vival in con­sump­tion de­mand should more than off-set ex­ter­nal head­winds in 2016. This year will be the in­flex­ion year for the bank­ing and fi­nance sec­tor in In­dia, which will in­crease its global foot­prints.

As In­dia's new-age pri­vate sec­tor bank, YES Bank re­cently launched its first in­ter­na­tional rep­re­sen­ta­tive of­fice in Abu Dhabi in 2015. The of­fice is lo­cated in the heart of the GCC re­gion, which is an im­por­tant global eco­nomic hub with long stand­ing trade and cul­tural ties with In­dia. Our Gulf foray will play a key role in our as­pi­ra­tion to be­come the "finest qual­ity bank of the world in In­dia" by 2020.

YES Bank en­deav­ours to spot and seize ev­ery lu­cra­tive op­por­tu­nity for the In­dian di­as­pora through the flag­ship Global In­dian Bank­ing pro­gramme. It brings NRIs a range of in­vest­ment op­por­tu­ni­ties to choose from and the ex­per­tise to in­vest and mon­i­tor port­fo­lio through e-com­merce ca­pac­ity, pay­ment chan­nels as well as strate­gic part­ner­ships.

The pri­macy of eco­nomic de­vel­op­ment in gov­er­nance and pro­gres­sive re­forms to fa­cil­i­tate in­vest­ments has been the hall­mark of the Naren­dra Modi govern­ment.

I am con­fi­dent that the right mix of fis­cal and mon­e­tary pol­icy ac­tion, cou­pled with the turn­around in the global econ­omy, will boost In­dia's eco­nomic and in­dus­trial growth to the next level and make 2016 In­dia's year. That is why, YES Bank re­cently launched its cam­paign "In­dia bole YES!" as yet an­other en­deav­our to trans­late the ethos of the bank while salut­ing the in­domitable spirit of ris­ing In­dia.

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