Miscellaneous - This Day That Age   

dated December 29, 1957: Institutional credit

In his Commemoration address at the Golden Jubilee celebration of the Indian Bank, on December 27, Mr. T.T. Krishnamachari, Union Finance Minister, laid stress on the desirability of banking institutions finding ways and means of augmenting their resources from the people in order to meet new needs. “Any institution which is not dynamic,” he said, “will not thrive, as in the past.” Mr. H.V.R. Iengar, Governor of the Reserve Bank of India, who inaugurated the function, emphasised that banks should try to grow bigger in order to subserve the planned economy of he country and suggested that in their day-to-day working they should strike a happy mean by which they would avoid the rigid manner in which monolithic institutions functioned and at the same time give a human touch in their service to the public.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Cartoonscape
The Hindu Crossword 9107
Solution to puzzle 9106
Nature of Maya
dated December 29, 1957: Planes and supplies flown to Ceylon
dated December 29, 1957: Institutional credit
dated December 29, 1957: Delivery of telegrams
Weather

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu