Handbook of Banking Information

The financial services sector in our County has witnessed a notable transformation over the last five decades and concerted efforts have been made by the banking system to grow by building up an extensive branch network, penetrating into unbanked areas, mobilizing untapped savings, promoting Banking habits and providing credit for rural development, besides diversifying into new areas of business.

The process of globalization of the Indian Economy has created an environment where the financial services system has to be cost-effective, customer-oriented, and technology-based. These changes have posed many challenges to the banking system and personnel. It is essential that the banking manpower keeps itself abreast of all these changes and have a future vision so that it does not find difficulty in efficient functional discharges.

Individual growth is possible through proper training, conceptual clarity, and experimental learning, and career planning charters the path of progress of the employee to higher echelons. The recent years, particularly the late 90s, have witnessed many a change in the banking scenario, and due to these changes, the manpower requirements of the banking industry have also undergone a sea-change. More and more Banks have introduced specialization & restructuring and the requirement of knowledge, skills, and attitude of the Staff at all levels, has to match the change.

An official working in a Bank today has to look at these developments from his career opportunity aspect also, where he would find a greater need to update himself to keep pace with the change. The promotional avenues, for a variety of reasons, are limited which creates a highly competitive situation. The type of information desired in these promotion examinations or interviews has also been found to be in line with the changed situations.