Progress for me has never been a dream. It has always been a reality and once one milestone is achieved, there is always another one waiting to be crossed. I started my journey as a Banker in the year 1994 as Probationary Officer and presently occupying the post of DGM in Bank of Baroda. It is with this belief and god’s grace that w.e.f. 01.04.2019. I have taken over the position of Chairman & C.E.O. of one of the oldest Banks in India, The Nainital Bank Limited.

The Bank has a glorious track record as profit making entity post 1973 and is a prominent name in our operative -5- Five States. As head of the family, I will steer the Bank to more prosperous milestones and new heights. The aim will be to deliver financial solutions, technology, products and services that exceed our clients’ expectations in order to become a trusted and successful Bank. Further, creating employment, encouraging startups and developing entrepreneurship in the state of Uttarakhand will be Bank’s top priority.

The performance of the Bank in last two F.Y.’s depicts a flat trend, which is a matter of concern for all of us. The business deficit can only be overcome by having a focused approach and evolving new business strategies. The business of the Bank for F.Y. 2018-19 is at ₹10,931.00 Cr. comprising of ₹3,645.00 Cr. Advances and ₹7,286.00 Cr. Deposits and the Bank registered Operating Profit of ₹107.00 Cr. as per provisional data. We need to unlock Bank’s potential and gain momentum to attract new business. The aim will be to keep up with pace for increasing quality business specially in Retail Sector, MSME and to contain increasing Non-Performing Assets and to have effective recoveries in such accounts. I believe that in current F.Y. (2019-20), we together as a Team will be able to achieve projected growth of 22% - 25% in all important business segments viz a viz CASA, Deposits, Advances etc. and overall Business.

We all know and sense how fast technologies in Banking Industry are changing. Cyber-attacks and frauds are one of the challenges faced by the Banks. Therefore, the need of the time is to revamp ourselves, upgrade our existing IT infrastructure and introduce and implement latest IT technologies, which shall ensure safety and security from Cyber-attacks and frauds and simultaneously increase our productivity, efficacy and provide excellent and uninterrupted customer service. This shall also help in automating our business processes and operations and will assist the Bank to be compliant with all statutory requirements. The foundation for making the Bank tech-savvy has been laid and I am confident that the Bank with the assistance of Bank of Baroda (Parent Bank) shall absorb the latest technologies in the near future.
The Banking Industry is stressed with Human Resources Management due to retirement of officials in Senior Level and our Bank is no exception to it. Therefore, the young and talented officers of the Bank needs to rise up to the occasion and should be ready to shoulder additional responsibilities. This shall also help the Bank in filling up the vacant positions in all cadres through internal promotion exercises. The aim will also be to retain talents, minimizing attrition rate and making committed efforts towards strengthening our Human Resources.
Further, we need to identify our weak areas, make faster and transparent decisions, evolve new strategies and collaborate better to put team spirit at the heart of what we do. With regard to our profits, we have to regain our hunger for business and set the bar higher.
It is time to stay motivated and deliver to our full potential. On that note, I am assured that I will receive full co-operation and support from all the members of the Bank. I am looking forward to working with you and will start a close and regular dialogue regarding business developments and new strategies in the following weeks.
I am confident that the Bank will scale new milestones of excellence for years to come.