Inducting & Re-Tooling of Personnel in Today’s Indian Banking System
Year: 2013
Type: preprint
Abstract: Banking in India has undergone quite a large number of changes during the past two decades. Conventional Banking is transforming into Development banking. All the Banks in general and commercial Banks in particular, are trying to reach new heights in their expansion programmes and to change substantially the character of their business. These efforts represent departure from narrow concept of Traditional Banking. The new thrust is based on the idea that banking is an active instrument of social and economic progress. Keeping in view the national and social objectives, these tremendous changes highlighted the need for the Banker of the past to re-orient himself to play effectively the new role of Development Banker. There is a paradigm shift in Banking and Financial Sector working and to cope up with this, a workforce is required who can cater to the emerging needs of various sections of the society. The Indian Banking is poised to quadruple in the next 10 years in terms of size which is likely to create a significant shortage of talent and manpower. The problem is further intensified if one takes into account the aging force and limited recruitments and development. It is therefore, very much necessary to identify the basic requirements for the personnel to be inducted in the Banking service as also to identify the training needs to retool the existing employees through bridging the knowledge gap, developing skills and re-orient attitude so that the employees may be able to cater to the various needs of customers in different market segments.
Source: SSRN Electronic Journal
Author: Yogendra Nath Mann
Institution: Singhania University
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W312136419