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Indian banks need to modernize: Rangarajan

Posted on Jan 17, 07:03PM | IBNS

Indian banks need to modernize and adapt new technologies to keep pace with global advancements, said C Rangarajan, Chairman of the Prime Minister's Economic Advisory Council.

"Indian banks need to modernize and upgrade themselves in order to be counted in the global markets for which Indian banks need to adopt modern technologies, solutions, processes and services required for mobile, retail banking and corporate banking," said Rangarajan while inaugurating the 2nd edition of International Banking Expo India (IBEX India 2013).

The exhibition is being organized by PDA Trade Fairs from Jan 17 to 19 at Bandra Kurla Complex, Mumbai.

Rangarajan also commented that shows like the IBEX help catalyze the modernization process and in extension enable banks to offer borderless, smooth, efficient banking experience to the consumer.

Delivering the keynote address themed "Delivering Technologies for Innovative Banking", Rangarajan dilated on a spectrum of issues across all banking functions that are of relevance to the Indian banking sector.