The publication “Techniques of Securities for Bank Lending with an Insight to Life and Times of a Banker” authored by M.C.V. Rajanathan, an experienced banker, was released recently at the Centre for Banking Studies, Central Bank of Sri Lanka.
This publication comprises 30 chapters and gives an in-depth study to the important aspects of various types of securities generally obtained by banks to secure advances. In addition, the author has generously shared his expertise covering every type of security, immovable assets, movable assets, life insurance, its documentation aspect and more importantly the mitigation techniques and all important follow-up, monitoring and its operational aspects.
Insurance compliance covering every asset and recoveries with a practical approach based on his experience in a simple way towards getting the message across has also been explained with certain true episodes of his banking career.
It also covers bank letters of guarantee and its operational aspects which is also an important and a high risk area of banking.
Today, banking is highly competitive and bankers face immense challenges in view of the prevailing competitive environment and credit appraisal and its disbursements are important components of banking.
This book will be an ideal textbook for bankers engaged in credit assignments and will enable them to execute their responsibilities with effective understanding towards minimizing the risks, which could arise due an eventuality of default or nonpayment at which stage banks totally depend on securities.
Weak security no doubt, will expose the banks to greater risk. Banks obtain securities; however, effectiveness of such securities is the most important aspect and this will be an ideal guide to ensure securities are obtained flawless.
The author has also ventured to give an insight to the life and times of bankers of yesteryear by sharing his banking journey with the present day bankers who are blessed with all the luxury which the bankers of yesteryear were not fortunate to enjoy.
Decades ago, everything was done manually unlike today where we could at the click of a button withdraw cash, payment of utility bills, etc. In the past, blue and red ball point pens played a major role in determining the difference between a debit and a credit.
Readers, especially bankers, will have an insight to the life of yesteryear bankers and will realize how fortunate they are now since the banking industry has developed to unimaginable levels.
The final chapter summarizes the entire publication by way of frequently asked questions (FAQ) which comprehensively cover all the chapters and is a ready reckoner.
The book is recommended for all present day bankers and the eminent banker former Chairman/MD of HNB, Rienzie Wijetilleke in his forward states this book is a must read for all present-day bankers.
The book is priced at Rs.1000 and could be purchased at the Institute of Bankers. The proceeds goes to the Sri Lanka Cancer Society.
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