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RBI's new policy to give fillip to development with customer as focus

Posted on Jan 31, 11:32AM | UNI

Nashik, Jan 30 : Reserve Bank of India (RBI) new economic policy has created a positive flutter in the market and will give boost to economic development, stated RBI economic consultant Dr Ashutosh Raravikar.

He was speaking after inauguration of Nashik Industries Manufacturers'Association (NIMA) bank summit 2013 in Nashik today.

Dr Raravikar further said if banks want to increase their profits they would have to increase efficiency and lower costs.

He said long term fixed rate loans, anomalies in asset liabilities, novel schemes, good customer relations, not to allow

complaints from customers,effective planning for problems, expert

human resourses planning, giving business partner behaviour to

small scale industrialists was necessary to give them a good amount of loan at the right time at proper rate of interest.

RBI has made changes in rural cooperative credit. Banks should

focus on bringing common man in the ambit of development and customer should be the focus. Indian banks have tremendous potential in becoming angels of prosperity, he said.