‘Corporate governance a key issue’

Jalan was speaking on the occasion of The Financial Express Best Bank Awards function for 2001-2002 held at the Taj. The awards for the Best Universal Bank and the Best Private Bank went to Jammu & Kashmir Bank.

Jammu & Kashmir Bank’s CMD M.Y. Khan said, ‘‘Some years ago, somebody asked me whether the bank was a co-operative one. And here I am today receiving the Best Bank Award of The Financial Express. I would like to thank my entire staff, board of directors and the regulators in helping us bag the award’’.

In foreign bank category, the same went to Standard Chartered Bank. The Best Public-Sector Bank Award went to State Bank of Indore. Awards were also given for the Best Regional Rural Bank to Pandyan Gramin Bank (S. Manickam), and The Top Two Urban Co-operative Banks to Jankalyan Sahakari Bank (R.P. Mishra), and The Greater Bombay Co-operative Bank (Narendrakumar A Baldota).

In his welcome address, The Indian Express Group’s Chief Executive Officer, Shekhar Gupta, pointed out that unrelenting exposure by the group of those who made up the country’s bad-loan gallery had played a catalyst’s role in ensuring that the Securitisation Bill became an Act, again underscoring the leading role that the group plays in organising and moulding public opinion in the country.

Chief Editor of The Financial Express, Dr Sanjaya Baru, explained that the survey is the country’s first composite ranking of banks, across three categories—commercial, regional rural banks and urban co-operative banks. The underlying ranking methodology is also unique, and has been conceived by Brehad Research and Information Services .

Dr Jalan pointed out that The Financial Express banking awards would help focus attention on the issues facing bankers, and help in generating a debate on the same.