g gopalakrishna : the importance of customer service speech by mr g gopalakrishna, executive director of the reserve bank of india, at the “ axis champions awards ”, mumbai, 1 october 2013. * * * i acknowledge with thanks contribution of shri r kesavan, gm, dept. of banking supervision, rbi, central office in preparing this speech. dr. sanjiv misra, chairman axis bank, smt. shika sharma, md and ceo, sr. executives and ladies and gentlemen, i have great pleasure in being a part of an event that hosts and toasts achievers who have excelled and left an indelible impression on customers by dint of exemplary work and service. i must congratulate axis bank for instituting these awards and felicitating their personnel, which i am sure will spur them on to better their own record and possibly also inspire many more to follow the example. banking is essentially a service oriented industry and no service is deemed complete unless it is accompanied by satisfaction of the people who avail the service. customer satisfaction and customer protection are the hallmarks of banking service. regulators and supervisors across the financial world have built policy edifices on strong foundations of consumer protection and customer service. in this context, it is indeed a commendable initiative on the part of the bank to train the employee to focus on customer service and reward exemplary service rendered by employees. i am sure that the bank will reach even greater heights in customer service while simultaneously enhancing the skills of personnel in this area. attributes of customer service have changed over the years. customers are more aware, there is a predominance of masses seeking tangible action to ensure that their rights as customers are upheld. more importantly, customers are becoming increasingly aware of banking ombudsman schemes, legal channels of redressal, consumer courts etc. the same has also been made possible on account of leaps that information technology has taken over the last one decade with information on the above channels being available widely. banking penetration through use of technology and the increase in number of non – face – to – face transactions adds a different dimension to the customer care paradigm. banking has truly become 24 x 7 locally and globally as well. these attributes have brought in more challenges than we had earlier assumed and banks have been compelled to not only live up to contemporary expectations but also look at enhancing skill - sets in information technology, human resources and transactional analysis for meeting future needs. it is not without any

nout wellink : fundamentally strengthening the regulatory framework for banks remarks by mr nout wellink, president of the netherlands bank and chairman of the basel committee on banking supervision, at the korea - fsb financial reform conference : an emerging market perspective, seoul, 3 september 2010. * i. * * introduction and background let me start by thanking our korean hosts and the financial stability board for organising this conference. the timing could not have been better as the basel committee has entered the final phase of completing its reform programme. it is especially fitting that this meeting is hosted by the republic of korea, given the importance and continuing growth of the south korean economy, its membership on the basel committee, and of course its key role as current chair of the g20. as you know, the basel committee ’ s reform programme will be presented to the g20 leaders for their endorsement when they meet here in november. a number of commentators have questioned whether the basel committee ’ s reforms of global banking standards are really necessary for countries that neither “ caused ” the crisis nor were directly affected by it. however, i should point out that all were affected indirectly through the global economic downturn. this includes emerging market economies. to me, at least, it is clear that we all have a lot to learn from both the recent and past financial crises. history has shown that crises have emanated from all regions of the world and have a range of causes. none of us knows what will be the source of the next crisis. what we do know, however, is that in a dynamic, ever changing global economy, there will be future crises and that it will be hard to predict them in advance. moreover, as banks are at the centre of the credit intermediation process, it comes as no surprise that the deepest and most prolonged downturns occur when the banking sector ceases to perform its central role in the economy. we therefore must increase the resilience of the banking system to financial and economic shocks, in particular through higher capital and liquidity buffers, but also through a more resilient infrastructure. we also must change incentives in areas such as governance practices, compensation and the moral hazard associated with too - big - to - fail institutions. this is the best form of preparation and will contribute to increasing our long term growth and welfare. the reforms of the basel committee are intended to address these identified shortcomings by promoting a more resilient banking sector that can support more sustainable growth