Mahesh Cooperative Urban Bank, one of the leading UCBs from Andhra organized a webinar on “Challenges posed by COVID-19 – Opportunities created and reinventing methods to attain Business Targets” for its officers recently.
Mahesh Cooperative Urban Bank is a multi-state scheduled bank which has 45 branches spread across Telangana, AP, Maharashtra and Rajasthan.
Speaking on the occasion, Purshotamdas Mandhana Chairman said the corona pandemic has not only affected the country’s GDP but also the financial sector since the banking is different on account of customer expectations, social distancing etc. He noted that due to pressure on profitability and an increase in stressed assets the management will have to revisit its business strategies.
In his remarks on the occasion, Ramesh Kumar Bung Chairman Emeritus said the scourge of the corona has posed several challenges and there is a need to improve the competencies/knowledge / skill sets of employees and understand business strategies for effective implementation. He said this explains why the webinar has been organized inviting a seasoned banker.
Umesh Chand Asawa MD &CEO of the bank briefed about the webinar saying Covid 19 has profoundly affected the world causing the landscape of business and commercial establishments to change. He said Covid 19 has also changed lifestyles of individuals.
Addressing the participants, Satish Utekar, Ex-MD & CEO, Thane Janata Sahakari Bank made a detailed presentation on the impact of Covid19 on Indian Banking. Explaining he said since, banking establishments are constantly evolving their businesses due to regulatory and competitive pressures and while occupied with managing the crisis, strategic focus would be on preparing for the future.
He said people have realized that in any circumstances the banking channels are working round the clock and it has helped regain the confidence of customers. There is also that COVID has created an opportunity to change, realize, prepare and handle unforeseen challenges.
He touched upon the customer service, liquidity management, asset quality management, profitability management, operational processes, digital transformation and productivity etc. He answered the queries raised by the officials of the bank.
K V S Prasad, Deputy General Manager proposed a vote of thanks at the end of the webinar.