President of India Mrs Pratibha Patil has advised the money managers and the bankers to follow their responsibility and duties in more professional manner. She advised them to be cautious while handling the hard earned savings of the citizens.
Speaking on the occasion of the Centenary celebration of The Reserve Bank of India she said "I take this opportunity to speak about the importance of upholding highest standards of probity in banking. People put their hard earned money into the banks and therefore , the banks are obliged not to take unbridled risks with that money."
Referring to the recent loan scams, she said that the banks must follow proper guidelines while the allocation of loan. This would contribute greatly towards dealing with the cases of corruption. "All procedures and due diligence, consistent with approved guidelines, must be adhered to, while approving loans by competent authorities as banks play a very important role in building transparent and accountable systems of financial dealings,"
The President was very keen on the role of banks in the developing economy of India. She was very sure that the banks have to play a major role in the achieving the growth rate of 9 percent this fiscal year as well as in the years to come.
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