Preparing Graduates for the Indian Banking Industry

Preparing Graduates for the Indian Banking Industry

Onkar Nath (Central Bank of India, India) and Tukaram U. Fulzele (Indira Gandhi National Open University, India)
DOI: 10.4018/978-1-4666-2845-8.ch018


Banking has come to occupy a vital position in a nation’s economy. In today’s world, banking is a business which not only deals with borrowing, lending, and remittance of funds but it is important for forecasting economic growth. As a result of knowledge explosion besides other factors, in the last two decades banks in India have witnessed a transition from traditional banking to modern technology driven banking. Exposure to competition has made these banks re-engineer and re-structure their processes, systems, and product line. Indian industry and Indian exports are greatly dependent on the banking sector which in turn, has to achieve the highest international standards. Introduction of innovative delivery channels at par in the banking by all types of banks have opened new challenges to the bankers and the banking industry. At present there is need for techno-bankers.
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Human Capital Development History For Indian Banking Industry

The Human Resource field in the Banking Industry is considered as one of the process of discovery and transformation. The field of Human Resource can be described as emergent and dynamic within the cultural business aspect in a Banking Industry. The success of today’s banking business will sparsely depends on the human resources of the organization, in which plays a crucial role in providing the services needed. The evolution of banking system in India affected the human resource practices, recruitment and selection practices, and training system. It is very important that the details of human resource are discussed along with the employees, to build their own career planning, perceptions and development. The primary strength of the industry is the human resource that is why the efforts to develop the skills and management are the main subject placed before the human resource. A major challenge for many banks will be to develop the special competencies and skills for credit appraisal and risk management. Putting the information technology is a key contributed in human resource development. Therefore, the HR model of the future will require professionals to be both driving and anticipating change, understanding the complexities of the new business environment and forces shaping it.

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