WEBVTT 1 00:00:03.400 --> 00:00:04.120 Hello everybody! 2 00:00:04.120 --> 00:00:05.120 I'm really delighted, 3 00:00:05.120 --> 00:00:06.120 to wish everyone 4 00:00:06.120 --> 00:00:07.480 all the very best wishes 5 00:00:07.480 --> 00:00:10.760 on BCG completing 25 years in India. 6 00:00:10.760 --> 00:00:12.200 A large part of these 25 years 7 00:00:12.200 --> 00:00:14.360 and I look back with a lot of pride, 8 00:00:14.360 --> 00:00:15.200 and joy, 9 00:00:15.200 --> 00:00:16.480 at the huge amount of impact 10 00:00:16.480 --> 00:00:18.320 that we already have had 11 00:00:18.320 --> 00:00:20.840 on Indian business and economy. 12 00:00:20.840 --> 00:00:22.160 And in next 25 years, 13 00:00:22.160 --> 00:00:24.400 I think we are going to make a very, very big impact 14 00:00:24.400 --> 00:00:26.480 and that makes me really proud of 15 00:00:26.480 --> 00:00:27.320 what we've been doing. 16 00:00:27.320 --> 00:00:28.960 And I would like to narrate one story, 17 00:00:28.960 --> 00:00:31.280 which stands out for me as a 18 00:00:31.280 --> 00:00:33.280 representative of the kind of thing that 19 00:00:33.280 --> 00:00:34.720 we all work so hard for. 20 00:00:34.960 --> 00:00:36.200 We had the opportunity to work 21 00:00:36.200 --> 00:00:37.840 with one of the most ambitious, 22 00:00:37.840 --> 00:00:39.880 bold and visionary leaders 23 00:00:39.880 --> 00:00:41.520 of banking industry 24 00:00:41.520 --> 00:00:43.360 in the form of Mrs. Bhattacharya, 25 00:00:43.360 --> 00:00:45.320 who was the first woman Chairperson, 26 00:00:45.320 --> 00:00:46.320 of State Bank of India, 27 00:00:46.320 --> 00:00:47.440 India's largest bank. 28 00:00:47.720 --> 00:00:49.720 Until that time we used to always feel that 29 00:00:49.720 --> 00:00:51.600 in public sector banking industry, 30 00:00:51.600 --> 00:00:53.160 we cannot talk about HR. 31 00:00:53.160 --> 00:00:54.440 In particular, we cannot talk about 32 00:00:54.440 --> 00:00:56.280 performance management system of people 33 00:00:56.280 --> 00:00:56.960 in the banks. 34 00:00:56.960 --> 00:00:58.960 We all know, there have been a lot of stories around 35 00:00:58.960 --> 00:01:00.200 state banking industry 36 00:01:00.200 --> 00:01:01.800 is not at all customer oriented. 37 00:01:01.800 --> 00:01:02.440 They don't care. 38 00:01:02.440 --> 00:01:03.600 Service standards are very poor. 39 00:01:03.600 --> 00:01:04.560 People are not measured, 40 00:01:04.560 --> 00:01:07.160 and so on so forth and she gave us a challenge 41 00:01:07.160 --> 00:01:09.280 that I would like everybody 42 00:01:09.280 --> 00:01:10.920 and everybody means everybody, 43 00:01:10.920 --> 00:01:12.560 including the clerks, sub staff, 44 00:01:12.560 --> 00:01:14.880 to be measured on a weekly basis, 45 00:01:14.880 --> 00:01:16.080 using technology 46 00:01:16.080 --> 00:01:17.440 and they should not only be measured 47 00:01:17.440 --> 00:01:18.440 against their targets, 48 00:01:18.440 --> 00:01:19.880 but they should be measured against 49 00:01:19.880 --> 00:01:21.600 other people like them in the bank 50 00:01:21.840 --> 00:01:23.960 among the 3,00,000 people in the bank. 51 00:01:24.400 --> 00:01:26.640 It was a huge challenge technologically, 52 00:01:26.640 --> 00:01:28.600 but even bigger challenge culturally, 53 00:01:28.960 --> 00:01:30.120 and we stood up for it. 54 00:01:30.400 --> 00:01:32.120 We fought hard for three years, 55 00:01:32.400 --> 00:01:33.760 and we managed to create 56 00:01:33.760 --> 00:01:35.720 India's first example 57 00:01:35.720 --> 00:01:37.200 of a state-owned banking industry, 58 00:01:37.200 --> 00:01:38.600 trying to measure everybody 59 00:01:38.600 --> 00:01:39.600 and everybody accepted it. 60 00:01:39.600 --> 00:01:42.120 And it was a fantastic journey today that 61 00:01:42.120 --> 00:01:44.080 really inspires us to do 62 00:01:44.080 --> 00:01:46.520 and not to take no for an answer. 63 00:01:46.520 --> 00:01:49.000 When it comes to accepting bold challenges 64 00:01:49.000 --> 00:01:51.760 and the story inspires not just banks in India 65 00:01:51.760 --> 00:01:53.480 but also many abroad. 66 00:01:53.480 --> 00:01:54.440 I look back, 67 00:01:54.440 --> 00:01:55.880 with great satisfaction 68 00:01:55.880 --> 00:01:58.360 that we, in this platform, 69 00:01:58.360 --> 00:02:01.680 as BCG are able to aim for phenomenal impact. 70 00:02:01.680 --> 00:02:02.760 When we support 71 00:02:02.760 --> 00:02:05.600 some of the pioneering bold ambitious leaders, 72 00:02:05.600 --> 00:02:07.360 that's what our business is all about. 73 00:02:07.360 --> 00:02:10.560 So, I really congratulate everybody at BCG, 74 00:02:10.560 --> 00:02:13.560 for this fantastic sort of journey 75 00:02:13.560 --> 00:02:14.800 and actually next 25 years 76 00:02:14.800 --> 00:02:17.240 are for sure going to be even more exciting, 77 00:02:17.240 --> 00:02:18.400 much bigger impact, 78 00:02:18.400 --> 00:02:21.120 as the economy accelerates out of 79 00:02:21.120 --> 00:02:23.440 the current problems but also 80 00:02:23.440 --> 00:02:24.320 burst with energy 81 00:02:24.320 --> 00:02:25.280 with a lot of innovation 82 00:02:25.280 --> 00:02:26.680 that’s so pent up and latent. 83 00:02:26.680 --> 00:02:27.800 All the best to everyone 84 00:02:27.800 --> 00:02:29.200 for an exciting journey ahead.