Reserve Bank to pick talent via UPSC-like test
...........“Starting from 2015, there shall be common recruitment for all core functions of the bank,” the RBI said in an internal report on HR initiatives. At present, it recruits officers and support staff for core and non-core functions through different examinations, such as the Grade ‘B’ officers level exam. The RBI now has about 17,000 employees. The proposed common recruitment will not only cover traditional areas such as economics and statistics but also include niche skills, such as risk management, financial markets trading, accounting, legal, human resources management and counselling. The officers that are recruited will have a common seniority. In effect, it will be like the common cadre under the All India Services of the Union Public Service Commission...........
1 comment:
In the present scenario, the move to go for common-cadre of officers in RBI and making recruitment process more broad-based and professional is in the right direction. But, the hurry with which the RBI top management is trying to implement the well-intended measures may make its own path slippery. Till a decade back, RBI used to learn from its own experience and make corrections midway. The present move gives an impression that RBI has not learnt any lesson from the failure of its recent ‘Executive Interns’ experiment.
One option to minimize damage could be to allow the existing staff(within certain age limit and having needed qualification) to migrate to the new cadre after testing their ‘fitness’ through an appropriate evaluation.
Better still, would be creating a Financial Sector Service at national level, on the pattern of IAS and Tata Administrative Service(accepting the better features of both) which could be common for financial sector regulatory organizations and public sector banks including State Bank of India. Such service should first absorb the existing talent within the organizations and go for further recruitment after two or three years depending on need.
M G Warrier, Mumbai
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