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(ISSN 00194921)(ISO 9001:2015 Certified)Keb[ / Vol 89 / DebkeÀ / No 03 जुलाई - सितम्बर 2018 July - September 2018ALNOITIEDISPECBANKINGSTEPPING INTO THE NEXT DECADE
IIBF - PUBLICATION LISTSr.No.ExaminationMediumName of the Book1JAIIB / Diploma inBanking & FinanceEnglishPrinciples & Practices of Banking2JAIIB / Diploma inBanking & FinanceJAIIB / Diploma inBanking & FinanceHindiBanking ke SidhanthAvam VyavaharAccounting & Finance for Bankers3456JAIIB / Diploma inBanking & FinanceJAIIB / Diploma inBanking & FinanceEnglishHindiEnglishBankeron ke liye LekhankanAvam VittyaLegal and RegulatoryAspects of BankingEdition2015/Re-printedin 201720152015/Re-printedin 201720152015/Re-printedin 20172015HindiBanking ke Vidhik Paksh78JAIIB / Diploma inBanking & FinanceCAIIBCAIIBEnglishHindiAdvanced Bank ManagementUnnat Bank Prabandhan20172011910CAIIBCAIIBEnglishHindiBank Financial ManagementBank Vittiya IIBEnglishEnglishEnglishEnglishHindiCorporate BankingRural BankingInternational BankingRetail BankingKhudra ive Banking17CAIIBEnglishFinancial ttiya PramarshHuman Resources ManagementInformation Technology21CAIIBHindiSuchna 322CAIIB / Certified BankingCompliance Professional Course/ Certificate Examination inRisk in Financial ServicesCAIIBCAIIBCertificate Examination inCustomer Service & BankingCodes and StandardsCertificate Examinationin IT SecurityDigital BankingBanking An IntroductionBanking An IntroductionCertificate Examination inMSME Finance for BankersCertificate Examination inCustomer Service & BankingCodes and StandardsCertificate Examination forDebt Recovery AgentsCertificate Examination inRural Banking OperationAdvance WealthManagement CourseCertificate Banking ComplianceProfessional CourseCertified InformationSystem BankerCertificate Examination inInternational Trade FinanceAdvanced Wealth ManagementEnglishRisk Management2018EnglishEnglishEnglishCentral BankingTreasury ManagementCustomer Service & BankingCodes and 272829303132333435363738Published ByPrice (Rs.)M/s Macmillan India LimitedRs. 550/-M/s Taxmann PublicationsPrivate Ltd.M/s Macmillan India LimitedRs. 870/-M/s Taxmann PublicationsPrivate Ltd.M/s Macmillan India LimitedRs. 600/-M/s Taxmann PublicationsPrivate Ltd.M/s Macmillan India LimitedM/s TaxmannPublications Pvt. Ltd.M/s Macmillan India LimitedM/s Taxmann PublicationsPrivate Ltd.M/s Macmillan India LimitedM/s Macmillan India LimitedM/s Macmillan India LimitedM/s Macmillan India LimitedM/s Taxmann PublicationsPrivate Ltd.M/s Macmillan India LimitedRs. 700/-Rs. 440/-Rs. 440/-Rs. 690/Rs. 575/Rs. 790/Rs. 725/Rs. 430/Rs. 500/Rs. 400/Rs. 500/Rs. 495/Rs.525/-M/s Macmillan India LimitedRs. 375/-M/s Taxmann Publication Ltd.M/s Macmillan India LimitedM/s Macmillan India LimitedRs. 450/Rs. 600/Rs. 525/-M/s TaxmannPublications Pvt. Ltd.M/s Macmillan India LimitedRs. 510/-201820182017M/s Macmillan India LimitedM/s Macmillan India LimitedM/s TaxmannPublications Pvt. LtdRs. 450/Rs. 600 /Rs. 400/-IT Security2017Rs. 425/-Digital BankingBanking An IntroductionBanking An IntroductionMicro Small & MediumEnterprises in IndiaCustomer Service & BankingCodes and Standards2016201620162017M/s TaxmannPublications Pvt. LtdM/s Taxmann Publication Ltd.M/s Taxmann Publication Ltd.M/s Taxmann Publication Ltd.M/s Taxmann PublicationsPrivate Ltd.M/s Taxmann PublicationsPrivate Ltd.EnglishHand Book on Debt Recovery2017M/s Taxmann PublicationRs 325/-EnglishRural Banking Operation2017Rs.545/-EnglishIntroduction to Financial Planning2017EnglishCompliance in Banks2017EnglishInformation System for Banks2017EnglishInternational Trade Finance2017EnglishRisk Analysis, Insuranceand Retirement Planning2017M/s Taxmann PublicationsPrivate Ltd.M/s Taxmann PublicationsPrivate Ltd.M/s Taxmann PublicationsPrivate Ltd.M/s Taxmann PublicationsPrivate Ltd.M/s Taxmann PublicationsPrivate Ltd.M/s Taxmann PublicationsPrivate Ltd.English2017Rs. 450/-Rs. 295/Rs. 235/Rs. 195/Rs. 375/Rs. 525/-Rs.390/Rs. 1,135/Rs. 645/Rs. 255/Rs. 240/-
CONTENTSFrom the EditorSpecial FeaturesSection I: Articles from Banking Experts (India)Banking: Stepping into the next decade-- Rajnish Kumar.8Banking as we see on the turn of decade-- Rajkiran Rai G. .13Risk Management in Banking in the next decade-- Anil Kishora .19Banking Technology in the next decade from SMAC TO FABS-- Dr. A. S. Ramasastri.24Banking in next decade: Resolve first before planning -- Madan Sabnavis.33Banking in the next decade: An Economist’s Perspective-- Dr. Soumya Kanti Ghosh/Dr. Tapas Kumar Parida/Sumit Jain.38Capital Flows and External Vulnerabilities of EMEs-- Dr. Barendra Kumar Bhoi/Dr. Jang Bahadur Singh.43Risk Management in the next decade-- V. R. Iyer/Arun Kumar .52Role of Technology in Banking in the next decade-- S. Mukhopadhyay.57Ethics in Banking – The Way Forward-- Rakesh Kaushik.64Stepping into the next decade – Emerging Areas in International Banking-- Sugata Kumar Datta.69Section II: Articles from Banking Experts (International)Banking : Stepping into the next decade – Human Capital, Green Finance, Professionalism & Ethics-- Simon Thompson.74Korea Banking: Stepping into the next decade-- Dr. Jae Woo Moon.78Banking: Stepping into the next decade – Engagement with Customers the key-- Sanjib Subba.82Banking: Stepping into the next decade – Professionalism holds the key-- Lewis Panther.85Banking: Stepping into the next decade – Reinvention-- Pijush Kanti Das.89Bank QuestHONORARY EDITORIAL ADVISORYBOARDMr. V. K. KhannaThe views expressed in the articles andother features are the personal opinionsof the authors. The Institute does notaccept any responsibility for them.Dr. Sharad KumarDr. Rupa Rege NitsureVolume 89, Number : 3Mr. Mohan N. ShenoiJuly - September 2018(ISSN 00194921)HONORARY EDITORDr. J. N. MisraThe Journal of Indian Institute of Banking & FinanceuesKeeW leLee Dev³e j eveeDeeW ceW J³ekeÌle efkeÀS ieSefJe eej uesKekeÀeW kesÀ efvepeer efJe eej nQ uesKekeÀeW ÜejeJ³ekeÌle efkeÀS ieS efJe eejeW kesÀ efueS mebmLeeve efkeÀmeerÒekeÀej mes GÊejoe³eer veneR nesiee July - September 20181
INDIAN INSTITUTE OF BANKING & FINANCEKohinoor City, Commercial-II, Tower-I, 2nd Floor, Kirol Road, Kurla (W), Mumbai - 400 070.E-mail : admin@iibf.org.inWebsite : www.iibf.org.inGOVERNING COUNCIL MEMBERSPRESIDENTRajnish KumarVICE PRESIDENTSShyam SrinivasanSunil MehtaMEMBERSMalvika SinhaPrashant KumarSmita SandhaneV. G. KannanY. K. BhushanH. KrishnamurthyK. L. DhingraA. S. RamasastriPawan BajajV. G. MathewRavindra MaratheZarin DaruwalaR. A. Sankara NarayananJai Kumar GargMANAGEMENTJ. N. Misra, Chief Executive OfficerSudhir M. Galande, Deputy Chief Executive OfficerS. Muralidaran, Director - AcademicsT. C. G. Namboodiri, Director - TrainingS. P. Nair, Director - Member ServicesFrancis Xavier A. , Director - OperationsMISSIONThe mission of the Institute is to developprofessionally qualified and competent bankers andfinance professionals primarily through a processof education, training, examination, consultancy /counselling and continuing professional developmentprograms.O³es³emebmLeeve keÀe O³es³e cetueleë efMe#eCe, ÒeefMe#eCe, Hejer#ee,HejeceefMe&lee Deewj efvejblej efJeMes e%elee keÀes yeæ{eves JeeueskeÀe³e& eÀceeW kesÀ Üeje meg³eesi³e Deewj me#ece yeQkeÀjeW leLee efJeÊeefJeMes e%eeW keÀes efJekeÀefmele keÀjvee nw Printed by Shri J. N. Misra, published by Shri J. N. Misra on behalf of Indian Institute of Banking& Finance, and printed at Onlooker Press 16, Sasoon Dock, Colaba, Mumbai-400 005 andpublished from Indian Institute of Banking & Finance, Kohinoor City, Commercial-II, Tower-I, 2ndFloor, Kirol Road, Kurla (W), Mumbai - 400 070. Editor Shri J. N. Misra.2July - September 2018The Journal of Indian Institute of Banking & Finance
editorialThe Indian Institute of Banking & Finance (IIBF) has completed 90 years of dedicatedservice to the banking industry in 2018. The journey has indeed been eventfuland illustrious. During this journey, the Institute has constantly reinvented itself toeffectively serve the banking fraternity. Owing to the unstinted co-operation by allstakeholders, IIBF has emerged as the largest Banking Institute in the world offeringa whole bouquet of services for meeting the needs and aspirations of the serving andpotential bankers.Dr. J. N. MisraChief Executive Officer,IIBF, MumbaiTo commemorate the occasion of completing 90 years, IIBF will be organising anInternational Conference on 25th September 2018. The theme of the conference is“Banking: Stepping into the next decade”. The present issue of Bank Quest is aSpecial Edition dedicated to the theme of the International Conference.We had invited articles from Banking experts, both in India & abroad, coveringdifferent domains of Banking & Finance.Section I: Articles from Banking Experts (India)The first article of this issue is authored by Mr. Rajnish Kumar, Chairman, State Bankof India, on “Banking: Stepping into the next decade”. According to the author, thetrajectory of Indian Banking, in the next decade, will be shaped by several forces viz.balance sheet restructuring, reducing share of corporates in banks’ lending books,IBC, role of technology, laws on privacy, ownership of digital data and its storage,cyber security etc.The second article is authored by Mr. Rajkiran Rai G., Managing Director & C.E.O.,Union Bank of India, on “Banking as we see on the turn of decade”. Mr. Rai throughhis article has given us a picture of Indian Banking at the Onset of Decade 2010s,“how we all came here”, and “where do we go from here”. The author has summedup by saying that there are positive vibes which could propel India to double digitgrowth trajectory in the coming decade.The third article is by Mr. Anil Kishora, Deputy Managing Director and Chief RiskOfficer, State Bank of India, on “Risk Management in Banking in the next decade”. Mr.Kishora has given an in-depth perspective about Risk Management and concludedthat Risk Management will likely be a source of competitive advantage in the nextdecade.The fourth article is by Dr. A. S. Ramasastri, Director, Institute for Developmentand Research in Banking Technology (IDRBT) on “Banking on Technology in thenext decade: From SMAC to FABS?”. Dr. Ramasastri has explained that Bankshave adopted the SMAC technologies – Social, Mobile, Analytics and Cloud – veryinnovatively and has identified four technologies, namely FABS – 5 G, ArtificialIntelligence, Blockchain and Smart things which have great potential for a meaningfulimpact on the banking sector in the next decade.The Journal of Indian Institute of Banking & FinanceJuly - September 20183
The fifth article is penned by Mr. Madan Sabnavis, Chief Economist, CARE Ratingson “Banking in next decade: Resolve first before planning ”. Mr. Sabnavis hasvery perspicaciously expressed his views on various issues of Banking as we seetoday & its transition to future. He has also, inter-alia, mentioned banks should getinto CLAP (Capital, Lending, Asset Quality and Profits) mode.The sixth article of this issue on “Banking in the next decade: An Economist’sPerspective”, is jointly contributed by Dr. Soumya Kanti Ghosh, Group ChiefEconomic Adviser, State Bank of India, Dr. Tapas Kumar Parida, Economist, StateBank of India and Mr. Sumit Jain, Economist, State Bank of India. They haveconcluded that future of Indian banking depends upon a number of factors likeeconomic and regulatory environment, entry & exit of players, customers behaviour& others. In order to remain sustainable in the banking business, banks needto innovate their products, services and delivery channels, rather than simplydepending on core banking areas like accounts, deposits & credits. Going forward,banks need to leverage their portfolio of solutions in a personalised way to cater tothe needs of individual consumers at any given point.The seventh article on “Capital Flows and External Vulnerabilities of EMEs”, hasbeen jointly authored by Dr. Barendra Kumar Bhoi, Former Principal Adviser andHead of Monetary Policy Department, Reserve Bank of India (RBI) and currently,Visiting Fellow at Indira Gandhi Institute of Development Research and Dr. JangBahadur Singh, Director, Department of Economic and Policy Research, ReserveBank of India. According to the authors, financial globalisation has opened up newopportunities & challenges for Emerging Market Economies (EMEs). Portfolio flowsto EMEs have been more volatile in the post GFC period. Such flows are likely tobe constrained. The authors have outlined measures for improving the resilience ofthe EMEs so that they can have least disturbance in the event of sudden reversalof capital flows.The eighth article of this issue on “Risk Management in the next decade” hasbeen jointly authored by Mr. V. R. Iyer, Former General Manager, Oriental Bankof Commerce and Mr. Arun Kumar, Faculty, NIIT University, Neemrana (FormerAssistant General Manager, UCO Bank & Former Deputy General Manager, IIFCL).This article gives us a deep insight about major risks which have impacted bankingin India in the last decade and banking changes in the next decade warranting riskmanagement. Emerging risks, major risk management challenges and measuresfor countering the challenges have also been outlined.The ninth article is written by Mr. S. Mukhopadhyay, Former General Manager &Chief Information Security Officer, State Bank of India, on “Role of Technologyin Banking in the next decade”. According to the author, technology will be the4July - September 2018The Journal of Indian Institute of Banking & Finance
enabler, the tool, the creator of differentiating edge over competition, and also thedriver of business in the years to come.The tenth article is authored by Mr. Rakesh Kaushik, Faculty, Indian Institute ofBanking & Finance and Former Senior Vice – President, SBI Mutual Funds on“Ethics in Banking – The Way Forward”. He has emphasised on the significanceof rightful, ethical behaviour in Banking Industry. As the cost of unethical conductand its implication could be huge and would involve both financial & non-financialcosts, improvement in corporate governance, review of compensation structure,regular review of code of conduct may go a long way in improving ethical behaviour.Standards of corporate governance also need to imbibe the highest possible cultureof honesty, integrity and ethics.The eleventh article is by Mr. S. K. Datta, Faculty Indian Institute of Banking andFinance and Former Chief General Manager, Bank of India on “Stepping into thenext decade - Emerging Areas in International Banking”. Mr. Datta has discussedprospects of Blockchain technology in the International Banking arena. As technologyhas the potential of being a definite and disruptive game changer, technologies likeBlockchain have to be reckoned seriously by banks.Section II: Articles from Banking Experts (International)The first article in this section is authored by Mr. Simon Thompson, Chief Executive,The Chartered Banker Institute on “Banking: Stepping into the next decade – HumanCapital, Green Finance, Professionalism & Ethics”. Mr. Thompson has emphasisedthat banking even in the future will continue to depend more on human capital thanfinancial or technological capital. Threat and reality of climate change (Green Finance)and achieving a successful transition to a low carbon world will be the greatest globalchallenge for the present and future generations. According to the author, if we areto restore trust in banking, professional standards will need to remain a key priorityover the next decade. For ethics and professionalism to succeed, global cooperationwill be a key driver. A mention has also been made regarding the establishment of theGlobal Banking Education Standards Board (GBEStB).The second article in this section is penned by Dr. Jae Woo Moon, President, KoreaBanking Institute on “Korea Banking: Stepping into the next decade”. The author,in his opening paragraph has outlined the special strategic relationship betweenKorea and India. The author has then discussed the roles and challenges of financialauthorities and market participants to enhance the competitiveness of the financialindustry through the development of the Korean fintech industry.The third article in this section is contributed by Mr. Sanjiv Subba, Chief ExecutiveOfficer, National Banking Institute, Nepal on “Banking: Stepping into the next decadeThe Journal of Indian Institute of Banking & FinanceJuly - September 20185
– Engagement with customers the key”. According to the author, the key challengewould be the engagement with customers. Products will have to be so developed soas to meet the needs and wants of customers, at an affordable price and at a deliverylocation of their choice. At a broader level, macro-economic issues, regulatorycompliance will continue to pose challenges to the banking industry. Globally, Bankswill therefore have to gear themselves to meet these challenges.The fourth article in this section is written by Mr. Lewis Panther, SA FIN, FINSIA, on“Banking: Stepping into the next decade – Professionalism holds the key”. He hasdiscussed the importance of professionalism in the Banking sector and FINSIA’sapproach towards fostering professionalism in the sector.The fifth article in this section is written by Mr. Pijush Kanti Das, Senior Lecturer,Emirates Institute for Banking & Financial Studies on “Banking: Stepping into the nextdecade - Reinvention”. Mr. Das has discussed the importance of Fin –Tech, ArtificialIntelligence Distributed Ledger Technology (DLT) and the Internet of Things (IoT).According to the author, while banking and financial services will grow exponentially,will the banks survive? This will depend
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2. R.K. Gupta, Banking - Law and Practice (2nd ed. 2008) 3. Mark Hapgood, Paget’s Law of Banking (13th ed., 2007) 4. M.L. Tannam, Banking Law and Practice in India (23rd ed., 2010) Topic 1: The Evolution of Banking Services and its History in India History of Banking in India, Bank Nationalization and social control over banking, Various
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