HRD – Banks in the ICT Era a Focus on Private sector Banks

Abstract

The banking sector in India plays a vital role in the economic growth of the country. Hence, the performance of banks has got a decisive role in controlling the pace of economic development of the whole nation. Performance of banks, in turn, depends on the performance of their human resources (HR) - the most sensitive and most valuable among all resources of an organization. Effective management of HR along with proper adoption and utilization of technological advances particularly those in the field of Information and Communication Technology, (ICT) has become an imperative for banks for their survival and growth. Likewise, thrust on the promotion of bank products particularly using modern philosophies like e-CRM side by side with provision of excellent quality customer service is another imperative. At the centre of all these lies Human Resources (HR); because a well-trained and techno-savvy workforce alone can provide customer service matching with the expectations of today's discerning customers. As India's banking sector is passing through a highly turbulent world characterized by VUCA (Volatility, Uncertainty, Complexity, Ambiguity), this paper seeks to study the relative performance of the Old generation Private sector Banks (OPBs) based in Kerala with a focus on their HR productivity and allied HR-related performance parameters.