How Kokan Bank is standing tall amongst Indian Banks by effectively managing its NPA

The Indian Banking Summit 2024 (IBS 2024), was organized by the Synnex Group on the 6th and 7th of June 2024 at the Hotel Taj Santacruz, Mumbai. Representatives of various Nationalized banks, Private sector banks, Co-operative banks, Small finance banks, Non-Banking Finance companies and Micro Finance companies from across the country participated in the summit.

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The Indian Banking Summit provides a platform for Indian bankers and other stakeholders to discuss key challenges facing the industry and discover best practices that can be implemented for the betterment of products, operations and service delivery, while ensuring that the most recent regulatory guidelines are complied with.

One of the highlights of the IBS 2024 summit was the recognition of Kokan Mercantile Co-operative Bank Ltd’s (a multi-state cooperative bank) recent performance and its expertise in managing Non Performing Asset, by virtue of which it was presented with the “Best NPA Management” award.

Though this was not the first time that Kokan Bank was presented with this prestigious award, however it was the first time that Kokan Bank’s CEO shared the stage with thought leaders of the Indian Banking Industry.

Ever since Mr. Asif Dadan has taken over as the Chairman, Kokan Bank has made rapid strides in deployment of technology, effective management of banking operations and aggressive marketing and customer outreach programs which has led to its improved performance over the last year.

Mr. Akbar Kondkari, the current CEO of Kokan Bank, while addressing the august gathering of bankers from across various banks and financial institutions of the country, stressed upon the need for implementation of robust cyber security measures in the Indian Banking system while talking about the crucial role a CISO (Chief Information Security Officer) can play in an increasingly tech-enabled environment, by ensuring smooth operations through risk assessment and vulnerability analysis and by creating, implementing, and enforcing security policies, that can protect critical banking data, securing banking systems and networks from attacks by hackers and malwares.

Underscoring the criticality of a CISO’s role, Mr. Akbar Kondkari mentioned, ” A CEO can sleep well only when a CISO is awake”