The Hindu Business Line : Bankers and their changing lexicon

Before you dub these as glib aphorisms used by hardcore salesmen of FMCG products, think again. These are what PSU bank chairmen are telling you these days, a makeover from their usual `delivery channels', `no-frill accounts' and the ubiquitous `inclusive banking'.

The lexicon of senior public-sector bankers, aimed at communicating to audiences that are perhaps getting younger and smarter, seems to have changed dramatically in recent times, thanks to a range of factors including increasing competition, marketing exercises and technological advances.

And nowhere perhaps is the difference more telling than at FICCI's annual banking conclave, which, according to the chamber of commerceis likely to be organised every year. If you had been a regular visitor to the latest edition of the conclave — this time it was spread over quite a few weeks — you would have noticed how PSU bankers have been brushing up on their vocabulary.

Observe, for instance, Mr K.N. Prithviraj, Chairman and Managing Director of Oriental Bank of Commerce, whose authoritative message is replete with references to possible "tie-ups with specialist organisations" and a "scale-up in fee-based operations". These when his immediate provocations are such simple topics as insurance and mutual fund distribution. Or Mr B. Sambamurthy, Chairman and Managing Director of Corporation Bank, who has used phrases like timeframe-driven banking and large-format outreach.

Banker-speak these days can range from the sweeping "the real opportunity for banks lies at the grassroots" (Dr K.C. Chakrabarty, Chairman and Managing Director, Indian Bank) to the easily-identifiable "we are considering a centralised processing system for retail finance" (Mr M.V. Nair, CMD, Union Bank).

Smart abbreviations

And there is a smart set of abbreviations too, again perhaps a reminder of what are often used by marketing gurus. Check out Mr S. Sridhar, Chairman and Managing Director of National Housing Bank, who talks about PHIRA — Productive Housing in Rural Areas. Or Mr M. Balachandran, Chairman and Managing Director of Bank of India, who quotes the President when he mentions PURA - Providing Urban Amenities in Rural Areas.