Banking sector saw signs of stability in 2019. The year saw the government announcing the biggest-ever consolidation of public sector banks (PSBs), increased capital raising by private banks, peaking of bad loan provisioning, deterioration of asset quality and return to higher operating profits. It is in this backgdrop that Business Today-KPMG started the annual exercise of picking India’s Best Banks and Fintechs. This six-month process started with knowledge partner KPMG studying annual reports of banks and reaching out to them for qualitative inputs in areas such as rural outreach, innovation, and fintech engagement. The team also reached out to the fintech community in areas of Payments, Lending and Value Added Services to arrive at a list of best five in each category.
The next step was to put the entire Best Banks and Fintech study before an external jury to decide the winners. The jury comprised Vinayak Bahuguna, MD & CEO, ARCIL India; Arun Purwar, Former Chairman, State Bank of India; Shailesh Haribhakti, Chairman, Desai Haribhakti Group; Seshagiri Rao, Joint MD, JSW Steel; and Sandeep Chiber, India Head, FIS Global.
The jury commended the inherent strengths of Indian banking. There was a lengthy discussion to decide the “Bank of the Year” where the jury gave a joint award to HDFC Bank and SBI. Apart from the financial performance of top banks in quantitative terms, the jury also looked at qualitative factors. The members deliberated on issues like succession and leadership. They also talked about governance issues. The trust factor was also touched upon in view of the recent debacle at some cooperative banks. The quality of banks’ books and market perception also found mention in the deliberations.
This story is from the March 22, 2020 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 22, 2020 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Haute Couture in the Kitchen
FASHION BRANDS ARE ENTERING THE RESTAURANT SPACE, AS FOOD SEEMS TO HAVE BECOME THE ULTIMATE FASHION STATEMENT
It's Personal
Mixing work and personal tasks on work machines may be a done thing for many, but it makes sense to have a dedicated device for your personal needs. Here are two such devices
INTO THE BLUE
For WTiCabs Founder and CEO Ashok Vashist, scuba diving is not just an adventure sport. It is a pathway to connect with the ocean
"Challenges are opportunities"
AMIT JAIN CO-FOUNDER & CEO CARDEKHO GROUP CarDekho Group is a digital automotive solutions provider
THE WAIT FOR HIGHER PENSION
ALMOST 18 MONTHS AFTER THE SUPREME COURT RULING, SUBSCRIBERS WHO OPTED FOR A HIGHER PENSION UNDER THE EMPLOYEES' PENSION SCHEME CONTINUE TO WAIT AS THE EPFO, FACING A STAFF CRUNCH, TRIES TO FIGURE OUT THE MATH
"It's possible to have a 25% growth out of India from now on"
Rail Europe Executive Chairman & CEO Björn Bender talks about the India market, the shift to digital, and the way ahead
Evolving Strategies
Companies need to adapt to changing times for a strong workforce
PERKS PRESSURE
IT'S NOT JUST ABOUT THE MONEY ANYMORE FOR EMPLOYEES. FROM FOUR-DAY WORK WEEKS, TO SKILLING ON THE JOB AND MENTAL WELL-BEING EXERCISES, COMPANIES ARE OFFERING A HOST OF BENEFITS TO RETAIN TOP TALENT. IS THIS ENOUGH?
FOSTERING PLURALISM
Axis Bank, with its initiatives and policies, is striving to make a holistic difference to people's careers and hone their skills too
In Keeping With The Times
With a slew of initiatives for its employees, Abbott India is working hard to build a diverse and inclusive workforce