It is obvious that during economic recession, almost all
business barons and institutions become more cautious
and banks are no exception to it. It is, therefore, not surprising that
despite constant cajoling and even offering lollypops by the central
banks and governments, banks could not be persuaded to liberalize credit
and rather preferred to hold even cash at a cost instead of opening
their doors to borrowers both corporate and individuals. This
phenomenon is not happening only in India but is
being witnessed globally. The ongoing recession has shaken the
confidence of all the financial institutions and despite heavy doses
of bailouts offered to these institutions, much more needs to
done to restore the lost confidence.
It is, however, interesting to note that the depression gloom is
happening as because we are overawed with the present financial
tsunami and ignoring the signals from our brains. In fact, we are
doing nothing to change our thought process to break the traditional
beliefs, attitudes and even patterns of thinking in order
to change and come out from the ongoing depression. In fact, it has been proved
that our brains are structured to enhance our intelligence, creativity
to implement the same in real life. This change of mindset and taking
important, but highly risky decisions, is made by our brain through
the process known as Reticular Activating System (RAS). It is,
therefore, the story of RAS that the executives of banks have to listen to in
order to come out with innovative strategies and services. This will help
them come out of the present financial recession
unscathed.
It is not just motivation as it does not stay long but it is
conviction and clarity of goal setting by the executives of banks that
would help them achieve what may otherwise appear to be impossible
to achieve. In fact, there is an irresistible force within us
which helps us to achieve what otherwise appears to be unachievable.
In this regard, it is worth quoting John Assaraf and Murray
Smith, who in their recent book, The Answer, have rightly said, "the
US today is buried under a staggering mountain of debt - trillions
of dollars' worth. How will this country be ever able to get
out from this? There is one and only one way that will ever
happen: through the efforts of creative and passionate people building
the business of their dreams." |
