The three Rs of public sector banking

These are recovery, risk management & retail loans

In a recent conversation, Rajkiran Rai, managing director of Union Bank, has made an interesting remark. “When we started our career in 1980s, we were not in the business of banking. Since we were government owned (even now, they are), people walked into our branches and kept their money; we did not have to ask for it. Neither did we go out looking for borrowers. They came to us, seeking loans. On our own, we didn’t have to do anything,” he said with rare candour. 

Rai’s primary job these days is to teach his colleagues the business of banking. All public