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Bankers' Conference 2004
President A P J Abdul Kalam outlined his six-point mission for banks, while inaugurating Bancon, the Bankers' conference on 10th November 2004.
President recommended the following six missions for the banking sector for immediate implementation:
a. Increase the agriculture and agro processing credit to Rs. Two lakh crore from the existing Rs. Ninety thousand crore within the next three years. This will include advances for setting up of PURA complexes and small enterprises in PURA clusters.
b. Create and nurture five rural development projects similar to bio-fuel project which can be applicable for large number of villages leading to employment generation through enterprises for at least ten million youth.
c. Innovatively fund the 3 lakh sick SSI units so that latest technology can be infused and they can overcome the present problems and become profitable ventures within the next three years.
d. Provide concessional interest rate funding for creation of corporate hospitals which can provide networked healthcare for the rural community through medical insurance on Yeshaswini model followed by Karnataka and also attract medical tourists for cost effective treatment through our quality doctors.
e. Participate in infrastructural development including provision of 100 million quality dwelling units with basic infrastructure in the rural areas in association with state urban development authorities.
f. Allocate at least Rs. 10,000 crore for providing venture capital to innovative scientists and technologists in all the three sectors, commencing from the next financial year, including Information and Communication Technology based knowledge products and Software Development and Software Services.
In addition to the above missions, the President had a suggestion- "As you are aware, we have a growing foreign exchange reserve of about 120 billion dollars. The bankers can have a mission: how to invest and multiply a portion of FE reserve, if it is made available for investing in relatively higher yield enterprises."
In his concluding Remarks, the President said- "Friends, so far I have discussed the dynamics of banking in relation to national development. In India we have two great resources-natural and human resources. Fortunately we have food security, certain industrial base and high-tech institutions. I believe what is needed today is proactive partnership of bankers in the national development missions. One of the very important ingredients for success of the vision of transforming India into a developed nation by 2020 is the evolution of creative leaders. Who is that creative leader? What are the qualities of a creative leader? The creative leadership is exercising the task to change the traditional role from commander to coach, manager to mentor, from director to delegator and from one who demands respect to one who facilitates self-respect. The higher the proportion of creative leaders in the banking sector, the higher the potential of success of vision of developed India."
Read from last year conference BECON 2003
Back to Banker's Conference 2004- Main Page
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