Metamorphosis Poem by Asit Kumar Sanyal

The first bank of India …
Bank of Hindustan
It was established in Kolkata in 1770
Since then banking system
Seeing metamorphosis.
It experienced the first phase in 1921
‘Bank of Bombay' and ‘Bank of Madras' merged
Changed its face …
Become Imperial Bank of India
Which transformed into State Bank of India (SBI)
in 1955.
The second phase took place in 1969
Govt. of India nationalized
All the leading commercial banks.
Third phase came into force
Post economic liberalization in 1991
It put the banking sector in competition
and compelled to transform
for existence.
In these days
Banks adopted improved technology
Accepted changed customer profile
Deployed core-banking, HRM and ERP
Introduced ATMs
For receipts and payments
Started net-banking, home-banking
Mobile-banking, credit cards
Offered easy loans.
New technology updated the banking system
Slimed the branches
Reduced staff
Cut overall cost by a half
Raised quarterly profit
Put bank closer to people
Harassment, loss of time now a history
And promised a sea-change
In next five years.
But it failed to generate employment.