...........Though Rajan did not confirm whether any market-based remuneration or lateral hiring for PSBs is on the cards, he did say discussions are on with the government on the matter. "We have to ensure that these banks have the capacity to compete and many of them recognize what needs to be done and have started on the path, but we should support them,"
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Attrition has become a normal routine for both the private and public sector banks to tackle. The attention of the banks -both public and private- on capacity building has taken a back seat with mounting costs per employee on one side and acute shortages of manpower to perform just the system based functions. Domain knowledge has become a casualty. At the Senior levels after the threshold field position at Dy.GM cadre, the games start for holding to the chair and accommodative postures. Best of talent recruited in several PSBs through strong recruitment procedures turn out as vegetables in the process. Decision making abilities depend upon which side the boss's head moves or eyes turn. Senior and top management cadres no longer are worried about pay packets as they are very well taken care of so much as the support systems for right type of decisions - whether credit committees or ALM Committees.
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