Shri Mohan Tanksale, Chief Executive of the Indian Banks’ Association (IBA), is positively confident about the social contribution of PSBs in the process of promoting inclusive growth around the country. He is absolutely certain that the fresh recruitment in various major banks, including PSBs, at various levels will result in developing a breed of young work force who will be comfortable with changing technology and capable to withstand any competition.
Shri Tanksale has especially welcomed the fact that the Indian banking sector has already embarked on various transformational activities over the past decade, thereby instilling pride among the workforce towards the PSB they belong to.
A seasoned banker with over 40 years of experience under his belt, Shri Tanksale recently retired as Chairman of the Central Bank of India. Soon, he took over the reins of the IBA and is equally immersed in pursuing his goal of making Indian banks, particularly PSBs, still more transparent, robust and strong.
He said,» Indian banks have witnessed a gradual migration from the most basic tools to complete computerisation. All PSBs are now following CBS. Leveraging this, banks are giving technological thrust through various alternative delivery channels. Besides, data warehousing and MIS have been supporting the banks for decision-making and planning for the future.»
Replying to a question, Shri Tanksale revealed that each bank was now making efforts to improvise on electronic transactions. The journey was from physical to electronic. Payments through the National Payments Corporation of India was just one example of this process.
IBA wishes to be an active player in this process. To promote it, IBA has instituted Banking Technology Awards, he added proudly. (See Box)
About the future role of banks, especially PSBs, Shri Tanksale said it will be a major challenge for them to reach the last mile and participate significantly in the inclusive growth process of social change launched by the government. Just access to banking in rural and remote areas would not be enough for this, he felt. Shri Tanksale›s advice to banks is to provide credit and wealth management products, including insurance to upgrade the standard of living of every individual in every nook and corner of the country.
Describing the present scenario, Shri Tanksale said banks had been trying, through technology, to deliver to the people totally customized products. The new developments in technology, adopted by banks, were more oriented towards the customers› facilitation rather than for a bank›s needs.
Shri Tanksale is happy that banks have been extending a helping hand to the national endeavour of progressing towards e-governance. He said the technological products offered to all stakeholders, including the government, were supporting the e-governance process since the banks› working ensured total transparency and seamless transfer of funds, earmarked by the government for various social causes and for different sections of beneficiaries.
About a query regarding the human resource in various banks, Shri Tanksale said it is nearly 45 years since major banks in the country were nationalised by the government. Due to expansion on a large scale, recruitment took place in PSBs in the 70›s. Therefore, the average age of employees in PSBs is higher. Similarly, a large number of them are retiring every year. The PSBs are recruiting clerks and officers to fill up this gap as well as to support their expansion plans.
“I am sure that within the next five years, a substantial number of tech-savvy bank employees will be available who will be capable to face any competition,» Shri Tanksale observed.
Responding to a specific query about the need to develop an Indian mega bank of international standards, Shri Tanksale admitted candidly,» It is a fact that globally, no Indian bank, except the State Bank of India, figures in the top 100 banks.
About the prospect of creating such a mega bank, Shri Tanksale said,» In view of the infrastructure development in India and for achieving economy in scale, the requirement of a mega bank is certainly felt. Such a bank will not only support domestic growth but will also make India›s international presence felt. The government, too, has always advised accordingly. Consolidation initiatives from this perspective should be essentially driven by the boards of directors of banks. However, no major initiative has been seen in this direction as yet.
About a query regarding the human resource in various banks, Shri Tanksale said it is nearly 45 years since major banks in the country were nationalised by the government. Due to expansion on a large scale, recruitment took place in PSBs in the 70›s. Therefore, the average age of employees in PSBs is higher. Similarly, a large number of them are retiring every year. The PSBs are recruiting clerks and officers to fill up this gap as well as to support their expansion plans.
“I am sure that within the next five years, a substantial number of tech-savvy bank employees will be available who will be capable to face any competition,” Shri Tanksale observed.
Responding to a specific query about the need to develop an Indian mega bank of international standards, Shri Tanksale admitted candidly,” It is a fact that globally, no Indian bank, except the State Bank of India, figures in the top 100 banks.
Mohan Tanksale, Chief Executive of the Indian Banks’ Association (IBA)
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