A Study of Recent HR Practices of Selected Public and Private Sector Banks in India
Authors,
Vikas Kumar Jain
Research Scholar
Barkatullah University, Bhopal
Dr. Pooja Sharma Dr. Dharmesh Jain
Guide Co-Guide
Asso. Professor, SIRTE, Bhopal Director, SIRT, Bhopal
Abstract
The banking sector has long served as a crucial driver of economic development in every nation, and its significance in a developing country like ours cannot be overstated. There is rapid diversification of banking operations across the world today. In order to sustain their position in today's fiercely competitive environment, it is important that banks focus on optimizing their human resources for better overall growth and efficiency. Nurture teamwork, enhance employee commitment, and ensure proper alignment in human capital management. Alignment with business objectives is indispensable for success. The long-term vision for India is to transform its banking system from a domestically oriented framework to one of global prominence may seem ambitious at present. However, international excellence requires a strategic mix of advanced technology with improved credit and risk assessment systems, sound treasury management, product innovation, robust internal controls, regulatory compliance, and above all, effective human resource management. In such a service-centric industry, human capital remains the most critical asset. Employment opportunities for educated people were limited in the post-independence era, and thus the banking sector as a highly sought-after career option right behind the civil services. That has significantly changed over time. Rigidities have emerged within the public sector banking framework, where hierarchical structures often prioritize seniority over performance. This system has obstructed the attracting and retaining of highly qualified young people. The ability of banks to meet emerging challenges will largely depend on how effectively they harness their most A priceless asset-their people-in this changing economic and business environment.
This study aims to examine recent human resource practices across selected Indian banks. It seeks to assess how HR strategies have evolved in response to intensified competition following the entry of new private and foreign banks during the liberalization era.
