Janmejaya Sinha?s article (?Banking sector crystal ball?, Feb 6) was a masterpiece. It advised Indian banks to take a closer look at the changing nature of demand in financial services and evolve strategies to gain most from it. Exactly a year from now, the second phase of capital account convertibility measures will be put in place. This would clear the path for Indian companies to access capital quite freely from across the world at much cheaper rates to fund their business expansion plans, forcing banks to stay more focused on aspects like providing various advisory services, getting into loan syndication and so on. The two most remarkable points made in the article are: one, future demand will be for products/services that not all players are good at providing, and, two, those who play the winning strokes will be the ones who master the art of combining new processes, technology and human capabilities. No doubt, banks will need to transform themselves into solution architects to remain competitive.
?Srinivasan Umashankar, Nagpur
Stuck in the throat
India and the US have inked a billion dollar military deal (?India, US sign Lockheed?s Hercules aircraft deal?, Feb 8), something a Pentagon official has called a ?breaking of the psychological barrier? in bilateral defence ties. Be that as it may, what?s more interesting is that the deal has not inflamed the passions of the Indian Left, for whom anything India has to do with the US is red meat. What stuck in their throat this time?
?Pankaj Sainani