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Banking Development Speech In English
Mr. Chairman, respected Chief Guest, Ladies and Gentlemen
Banking is the main artery of our commercial life. However, as our civilisation advances, and our people become more uptodate in modern living, banking becomes a part and parcel of our lives in the most developed countries the banking system has advanced so well among the people, that even cheque payments are accepted in the simplest of the day-to-day cash transactions like grocery purchases etc.
The expansion of the banking system among the people especially the rural population, should be regarded as a big achievement. Not only do the extension and acceptance of the banking habits, prove to be favourable for the banking business, but also more transaction with banks will keep the people in contact with the banks. These contacts could ultimately make the people realise the
various opportunities that the banking sector could open up for the different sections of the people. But, as we know this is only one side of banking activities. Banks and the business sector have a different kind of relationship, on which depend the growth of the country and the banking sector as well.
Credit is a very important phenomenon in today’s progressive process. The banks can have larger and larger deposits but that situation can hardly mean anything. For the banks this growing deposit is not for free, but at an interest.
Therefore, the banks must lend a major part of this deposit money to businessmen at a higher rate of interest, and the difference is of course to be regarded as the profits of the banks. But the banks can only earn these higher interests if their lending is correct and fruitful.
If the banks can assist and back industries and business ventures which are profitable and are capable of yielding good returns, then the banks can go on having their higher interests, while the business units backed by them may also prosper.
Sometimes, a bank has to select business activities for credit, which (businesses) which may be starting at the scratch but the nature of the business has prospects, and also the few transactions already completed, give promise of development.
It is true that the bank that is forwarding the loan, has to take risks, but then ‘risk’ is the watch-word of the business world. Besides, in the shrewdness of selecting good and prospective ventures, the bank Authority’s correct intuition and knowledge, would play a great part of the banker by his right decision can thus earn profits for his banking organization, as well as he can give the necessary prop to the business venture.
If the businessman and his business are genuine and if the bank can assist him at the time of teething or initial troubles when his goodwill was not built up then the bank would be really doing a great service to the nation and to national economy by helping.
The businessman get over his troubles and sail smoothly in the business world. Development of banking would therefore depend mainly on two things, on the bank-manager’s correct foresight as to where to lend and where not to and secondly, he has to set his priorities rightly in the context of the national business panorama.
Just as the individual bank-branches have to be concerned with their revenues and expenditure, and with the increase of their deposits-range by expanding their respective customer-range, so also the Central Authorities of the banks have to draw up other plans and programmes for expansion of banking activities in the countries.
These plans would refer to opening up of branches in new areas and in the remote parts of the country, so that business activities could continue unabated throughout the length and breadth of the country. Banking is a boon to the financial world. Let us all share this boon.
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