Madurai: IDBI (Industrial Development Bank of India) Executive Director R Jayaraman Iyer on October 22 advised job-seekers and students whether in IT or Management field to learn Chinese/Japanese language for getting good jobs.

Giving his special address at the R L Institute of Management Studies in Madurai, he also said Management students, if possible, should visit some of the best factories in India and abroad to know how well they were being managed.

Giving reasons for why the IDBI wanted to enter the commercial banking sector, though the bank was started with the objective of promoting industries, he said "lending money for projects has become very competitive especially when the commercial banks hijack our projects and start lending to them at a cheaper rate".

With the present set-up "we would not be able to lend money like commercial banks which are flooded with funds and could afford to lend at a lower rate. If a deposit is made with us for five years we should make profit out of it in three years. This is easy in commercial banking," he said. He also said for the past two years no new project had been taken up in the country and called upon entrepreneurs to take up new projects.

Stating that scope for seeking jobs in insurance companies was tremendous in India with the entry of foreign insurance companies, he said the IDBI was also thinking of entering the insurance sector.

R Lakshmipathy, publisher of Tamil daily 'Dinamalar', said the opportunities for the management students were plenty and added "but how best they use them and come up in life should be seen".

PTI