IBFA awards the best in banking, insurance cos

To honour the best banks and financial institutions, CNBC-TV18 organised the annual IBFA Awards and an eminent jury picked out the winners from across public and private sector banks. The best insurance companies were also honoured. The award for the best public sector bank this year is shared between Bank of Baroda and Punjab National Bank.

Axis Bank and HDFC Bank have been picked as the best private banks for 2012.

Life Insurance Corporation of India has bagged the award as the leading insurance company.

The jury also decided to honour former RBI governor Bimal Jalan for his lifetime contribution to the financial sector.

Pratip Chaudhuri, chairman of SBI  said, “RBI, of course, should continue the present policy of extensive and very frequent consultations with the banks, but in their policy measures they should also take into account the employment numbers which is something different. Now so many other parameters are taken into consideration but every country takes very serious note of the employment numbers. I think that would be something we would be very benefited by doing.”

Aditya Puri, MD, HDFC Bank , said, “Around 7.5 percent and hoping for the best, you could give a signal because you don’t want growth to go below 5 percent. I am only taking a case based on what I said, so, core inflation is stabilising and a lot of the inflation today is not demand based. There is also a shortage of liquidity and interest rates need to come down. Since I am there only for a day and it is unlikely I will ever be a RBI governor, I think I would do this.”

http://www.moneycontrol.com/news/features/ibfa-awardsbestbanking-insurance-cos_770270.html