Quotes About Banking

Our huge infrastructure that we need for keeping cash is very expensive.

When I moved from consumer banking to international banking, I thought I brought a lot of insights from India we could implement globally.

If a financial institution is too big to fail, it is too big to exist.

In order for the E.U. area to stay together, they needed to form a banking union, which meant they needed to have a common credible deposit insurance guarantee for everybody in the E.U. area.

The RBI is interacting with the banks every day.

Complexity and interconnectedness matter as much as size in assessing risk in banking.

during the Asian financial crisis the United States and other Western countries demanded that the Asians take three steps--let bad banks fail, keep spending under control, and keep interest rates high. In it own crisis, the West did exactly the opposite on all three fronts.

A bank is a place that will lend you money if you can prove that you don't need it.

Suppose a bad guy guesses the password for your throwaway Yahoo address. Now he goes to major banking and commerce sites and looks for an account registered to that email address. When he finds one, he clicks the 'forgot my password' button and a new one is sent - to your compromised email account. Now he's in a position to do you serious harm.

Investment banking has, in recent years, resembled a casino, and the massive scale of gambling losses has dragged down traditional business and retail lending activities as banks try to rebuild their balance sheets. This was one aspect of modern financial liberalisation that had dire consequences.

Our approach to banking is very different from the traditional banks or even some of the new banks. We do not necessarily go out and write single-cheque, large-ticket loans.

We are in a situation with the huge stimulus package that's going to be spent all across this nation and a big financial crisis and banking crisis. And what we need is good, trained journalists who can play the role of watchdog.

Through decentralized cryptography, Bitcoin eliminates the need for banking intermediaries, significantly lowering transaction costs, and could liberate poverty-stricken economies around the globe by providing access to capital to the one-third of humanity that is excluded from the financial world.

The capping of cash transactions will help the banks reduce cash intensity.

Banks can send big corporate payments through existing channels or send a small payment through Ripple. They don't have to rip out existing infrastructure; they can use Ripple to make the transactions more profitable or more efficient.

India did not innovate with the ATMs. But when we brought ATMs into India and made the machines talk in 15 regional languages to the people in rural India, we got millions of transactions on the ATM.

If you are moving the informal economy into the formal economy, and if the transactions which for years were never reported as part of GDP are now transacted through banking channels, it will only add to the GDP, not reduce the GDP.

With Indian migrants all over the world, money transfer is a big business in India.

I spent my workdays at Skype creating a more connected world. We were shrinking the distances between people, making it easier to connect across countries. Then I'd go to my bank to transfer my euros to pounds, and it was like going back in time 50 years: expensive, inconvenient, and painfully slow. It was a nightmare.

As with so many sectors of the economy, technology is transforming the retail banking sector.

I think the market should reward banks that have been transparent in recognising their problems. I think the tendency of banks to hide the problem assets over a period of three or four years should not be allowed.

My innovation involved taking an idea from the telecommunications and banking industries, and applying that idea to transportation business.

It's called fractional reserve banking. Before

When banking stops, credit stops, and when credit stops, trade stops, and when trade stops—well, the city of Chicago had only eight days of chlorine on hand for its water supply. Hospitals ran out of medicine. The entire modern world was premised on the ability to buy now and pay later.