HRD Practices in the Indian Banking Sector: Emerging Issues and Opportunities

Abstract

Banks are vital for the growth of Indian economy. In the 21st century competitiveness implies delivering value to the customers and being responsive and proactive to the needs of the customers. Human resource development as an emerging system in modern organizations has been recognized as a panacea for many workforce problems. HRD practices are a major tool available to banks to innovate and increase their competitiveness. The global economy is increasingly becoming dependent on trained, skilled and developed Human Resource. Surprisingly, HRD in financial institutions has not much received attention as it deserves when compared with the other avenues of business organizations. Effective management of human resources play a vital role in sound management of banks as human resource management is a central sub system of modern management system. The study covers all the important areas of human resource development in banks. These areas include conceptual clarification about human resource and human resource development in banks, essentials of HRD, the sub-system of human resource development like performance appraisal, training, management development, career planning and development, organization development, participative management, quality circles etc.