Mangaluru, Feb 01, 2019: Mahabaleshwara M S, Managing Director & CEO, Karnataka Bank who has taken charge of Hon. President, Bankers’ Club felicitated Mr. Garg. Gopal Murli Bhagat and S Birupaksha Mishra, Executive Directors, Corporation Bank and M Ramachandra Bhat, COO, Karnataka Bank, executives and bankers from Banks in Mangalore city were present on the occasion.
Felicitating Mr. Garg on the occasion, Shri Mahabaleshwara extolled the way Shri Garg had rose up the ladder to head the same Bank. Referring to Mangalore as cradle of banking, he said Corporation Bank, Canara Bank, Vijaya Bank, Syndicate Bank and Karnataka Bank are often referred to as the ‘Panch Pandavas’ in the industry. Further, Mahabaleshwara added that Bakers’ Club provides an ideal platform to share, deliberate and discuss the various challenges and concerns facing the banking industry. Shri Mahabaleshwara lauded the way in which Corporation Bank had steered into the new Finacle CBS. He also added that the new Credit monitoring System introduced in Karnataka Bank will prove beneficial in curtailing bad debts.
Jai Kumar Garg in his reply to the felicitation exalted the activities of the club. Speaking on the occasion, Mr. Garg said, “Halla Bol”, the unique recovery measure initiated by Corporation Bank for recovery of bad debts has been fruitful. He said that “Halla bol” has permeated into all employees of the Bank barring all ranks and files without any formal communication. Mr. Garg said solution to complex situations lie in simplicity. Mr. Garg elucidated on the CANGAROO concept adopted by Corporation Bank which lays emphasis on CASA, ARM (Agriculture, Retail, MSME), New Delivery Channels, Growth, Asset Quality, Recovery, Operating Profit and Outreach. He said, the Bank has been focusing on these eight parameters for overall growth and the results are testimonial of the dedication of every employee of Corporation Bank.