A Banker's Learning Odyssey: At State Bank of India (SBI)
RAJIV RANJAN
Apr 2024 · Notion Press
Ebook
188
Pages
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About this ebook
This is the tale of an engineer-turned-banker’s journey over thirty four years at State Bank of India and, thereafter, five years at a pivotal role in an asset reconstruction company. It was a trailblazing journey that covered all important segments of banking – from retail banking, to corporate finance, to factoring or trade financing, to foreign exchange management, to banking in the U. S., to stressed assets management, to asset reconstruction.
It covers the challenges that the asset reconstruction companies (ARCs) face in India and quotes from the Asian Development Bank Report on ARCs in India (“Recommendations for Changes in the Existing ARC Framework”) and the “Master Circular – Asset Reconstruction Companies” issued by RBI in 2022.
Finally, it reviews the working of ARCs in India, specifying three “unimplementable measures”, makes comments and suggestions on the Bankruptcy Law Reforms Committee Report, hails enaction of the IBC (Insolvency and Bankruptcy Code) as a transformational change and specifies a road map for turnaround of high NPA (Non-Performing Assets) companies.
It covers the challenges that the asset reconstruction companies (ARCs) face in India and quotes from the Asian Development Bank Report on ARCs in India (“Recommendations for Changes in the Existing ARC Framework”) and the “Master Circular – Asset Reconstruction Companies” issued by RBI in 2022.
Finally, it reviews the working of ARCs in India, specifying three “unimplementable measures”, makes comments and suggestions on the Bankruptcy Law Reforms Committee Report, hails enaction of the IBC (Insolvency and Bankruptcy Code) as a transformational change and specifies a road map for turnaround of high NPA (Non-Performing Assets) companies.
About the author
Rajiv Ranjan has worked in several critical assignments at State Bank of India, including as Chief Operating Officer at SBI Factors & Commercial Services Pvt. Ltd., and also as President & CEO of Reliance Asset Reconstruction Company Ltd. During his tenure at State Bank of India, some of the critical assignments he worked in were: Stressed Assets Management, International Credit, Project Finance, Corporate Finance, Global Cash Management, IT Operations, etc. He also served as the Head of Credit & Investments at State Bank of India, Los Angeles Agency. As President & CEO of Reliance Asset Reconstruction Company Ltd., he brought to the fore issues plaguing the asset reconstruction industry by taking the matter up with the authorities concerned (Reserve Bank of India, Financial Sector Legislative Reforms Commission, Ministry of Finance, etc.), speaking at seminars and conferences and publishing articles in reputed journals that pinpointed flaws in our asset reconstruction model and suggested concrete measures to correct the imbalance so that value from non-performing assets could get unlocked. He prodded the Financial Sector Legislative Reforms Commission to take up the matter with the Government, after which a Key Advisory Group on ARCs was set up by the Ministry of Finance. His articles got published in The Economic Times, The Hindu, Business Standard, The Times of India and the Journal of XLRI School of Management.
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