Financial Express to give away India's Best Bank Awards tomorrow

By afaqs! news bureau , afaqs!, New Delhi | In Media Publishing | July 24, 2009
The financial daily has added three new categories to its Best Bank Awards, taking the number to 16

Financial daily, Financial Express (FE) will give away its tenth India's Best Bank Awards tomorrow (July 25).

The Best Bank Awards are given on the basis of Reserve Bank of India (RBI) data, which delves into the strength, growth, innovation, efficiency and credit quality of the banks. The RBI data is collated by Ernst & Young for the awards.

Three new categories -- The Lifetime Achievement Award, The Best Banker of the Year, and The Innovative Banker of the Year -- have been added to the awards this year, taking the total number to 16. These three awards, according to Subhomoy Bhattacharjee, deputy executive editor, Financial Express, will be given to individual bankers, rather than the institutions.

"In view of the global financial crisis in the last year, new paradigms of banking have emerged. There have been many innovative ideas that have come from individuals. We've decided to introduce these new categories, keeping in view the challenges these bankers faced and handled," says Bhattacharjee.

As part of the awards campaign, the newspaper is also carrying a daily special on India's Best Banks, which will continue for two weeks. The special will carry columns from bank chiefs who have been winners in the past; articles about how banks handled the global financial crisis and what lies ahead for them; as well as articles on individual banks, about "what's the mantra for each bank and how they are distinct."

"Private banks, nationalised banks and other small banks would be dealt with separately, while giving away the awards, so that apples are not compared with oranges," says Bhattacharjee.

© 2009 afaqs!