Smart People

never skips his daily walk around Parsi Colony at Dadar in Central Mumbai, where he resides. At 59, walking is what keeps him trim and healthy.

No wonder why globe-trotting is such a strong passion for the chief executive of Indian Banks' Association (IBA). If he is not walking or working, Sinor would probably be watching Hindi movies or reading.

Sinor - whose career as a banker spans 37 long years - keenly watches events that influence the way banking sector works.

The latest interest rate cut in food credit, for instance, may not greatly impact banks' earnings, he says. "Food credit forms less than 2 per cent of the total lending in banks," he adds.

Sinor joined IBA six months ago. "The association is fast moving towards becoming a self regulatory organisation (SRO) as the RBI is moving out of micro-management in banks. Once IBA becomes an SRO, it will serve as a platform for Indian banks to communicate with regulators in other countries," he says.

According to Sinor, the banking industry has shaped up well in the past five years and emerged successfully from the challenges it faced.

NPAs are no longer a big issue - companies which closed down loss-making manufacturing units now have buyers, and recovering loans from these companies is now easier.

However, public sector banks need to adopt newer technologies at a faster pace if they truly wish to gear up to international levels, he says.

On the regulatory side, Sinor is looking forward to amendments to the Banking Regulation Act that would allow more foreign institutional investor (FII) holdings, voting rights proportional to holding and greater freedom in licensing.

He also sees a shift in banks' income-mix going forward - retail will be the major driver. Corporate clients will be serviced through new treasury products and will be largely fee-based.

Sinor, who retired as joint managing director of ICICI Bank before joining IBA, began his career with Central Bank of India.

A commerce and law graduate from Bombay University, Sinor has undertaken several short-term courses in different areas of banking from Michigan to Harvard to INSEAD, Paris. This globe-trotter knows how to mix career interests and hobbies.

Dr Swati Piramal, director, strategic alliances and communications, Nicholas Piramal, was among those who addressed the World Economic Forum in Davos. The meet was an instance that lent credibility to the India story, she feels.

According to her, India is on the threshold of an 'outsourcing revolution' in not just low-end jobs but also in high-end research and development.

"A research project that requires expenditure of $1 billion in the West could be done in India with just $50 million. This is where we score," she says.

Piramal Industries, which was into textile for over 100 years, ventured into pharma in 1988 and Dr Swati has ever since been the guiding light for the company.

According to her, the six years upto 2010 will be an important period for Nicholas Piramal as the company intends to go global with a new drug on cancer.

Phase I of this exercise will begin in June 2004. The company will also get a new research and development (R&D) centre, three times the size of the one it currently has.

Her role as the director involves responsibilities of R&D activities, strategic alliances, communication and information technology, medical services and knowledge management for the healthcare group of Piramal Enterprises.

Dr Swati did her medical degree in Bombay before completing a post-graduate degree in biotech and pharmacy from Harvard University - rightly equipped to manage a pharma company.

Her's is a global family - her daughter works with McKinsey and her son studies at New York University. But the family religiously joins together for vacation once a year.

Dr Swati also finds time to pursue her interests which range from cooking to flower arrangements to digital photography.

When it comes to reading this doctor who authored books in health and nutrition prefers poetry and neuro-linguistic programming. Dr Swati's latest interest, however, is her second alsatian puppy, which keeps her busy at home.