A Press Conference was organized by IBA at Mumbai on 31st December 2003,"Banking Industry Vision 2010" - A Report by IBA Committee chaired by Shri S.C. Gupta, Chairman & Managing Director, Indian Overseas Bank.

SEMINAR ON INTERNATIONAL EXPERIENCES IN NPA MANAGEMENT Organized jointly with Price water house Coopers Held on Monday- December 22, 2003 at Oberoi Towers, Mumbai

Background and Objective : PricewaterhouseCoopers (PwC) has been appointed by Asian Development Bank, at the behest of Ministry of Finance, Government of India to provide recommendations on enabling environment for operation of Asset Reconstruction Companies (ARCs) in India. As part of this study, PricewaterhouseCoopers has extensively studied the profile of Non Performing Assets (NPAs) of select Indian banks, analysed the general NPA monitoring practices in India and assessed the resolution strategies that would work best in the Indian context. PWC is currently working on the Model ARC and the framework thereof. They have also conducted another study for the IBA wherein they have assessed the incidence of NPAs in India and reviewed the processes existing in the Indian Banking system to deal with NPA identification and management and benchmarked the Indian conditions with those prevalent in other comparable countries. This Indian experience coupled with their significant global experience in this area provides significant learnings on the way forward for the Indian Banking sector. With a view to sharing some of the global experiences in this area and presenting possible thoughts for Indian banks, we had, in association with PricewaterhouseCoopers, arranged a half day Seminar. The Welcome Address was delivered by Shri Birendra Kumar, Advisor, Financial Advisory Services, PwC. Shri Ashwani Puri , Deputy Leader, Advisory Services, PwC gave a brief introduction to the Seminar. This was followed by Opening Remarks by Shri B.D. Narang, Chairman & Managing Director, Oriental Bank of Commerce & Chairman, Standing Committee on NPA Management, IBA Mr. David Edmonds, Lead Partner (Asia-Pacific) Financial Services, PwC narrated as to what Malaysia, Korea and Thailand did to address the problems of NPLs Shri Ashwani Puri of PwC, Shri B.D. Narang, CMD, Oriental Bank of Commerce, Shri Sinor, IBA, flanked by the 2 Davids of PwC   Mr. David White, Director, PwC presented a general summary on how banks have been restructuring loans and working out strategies and issues. Mr.White further disclosed early warning signs and narrated experiences that led to creation of a number of issues common to NPLs and possible ways of improving loan monitoring practices. Mr,White concluded the presentation by dwelling briefly on Loan Grading and Provisioning in other countries. Shri H.N. Sinor, Chief Executive, Indian Banks' Association made Closing Remarks to sum up the seminar The seminar was attended by Senior Executives of the rank of Executive Directors and General Managers/Deputy General Managers overseeing NPA Management portfolios