Page 39 - Banking Finance December 2022

ARTICLE

raining needs assessment is a robust mechanism level where taking note of the training needs of the
that involves stakeholders from all level of the employees and deciding what was to be included and
Bank identifying, analyzing and fixing the excluded from a training program.
T training needs of the employees.
Recommendations made by committee
With the emergence of Fintech companies, many banking
on capacity building:
processes has become obsolete over the past decade and
many processes are in line to become obsolete in the days The report submitted by Financial Sector Legislative Reforms
to come. AI, Machine learning, big data analytics is going Commission in March 2013 to the Government of India
to devour and change the face of the entire banking system emphasized on institutional capacity building as a measure
in the days to come. to reduce Systemic risk in the financial system. The
committee report stated "If the three pillars of financial
Traditional training needs assessment was done at a single regulation would work well, many of the crises of the past,
level using the top-down approach where few members and hypothetical crisis scenarios of the future, would be
sitting in the conference room and employees at managerial defused. Systemic risk in India will go down if institutional
capacity is built for the problems of consumer protection,
micro-prudential regulation and resolution."
About the author
To implement FSLRCs Non-legislative recommendations,
Vinoth Mani M
Reserve Bank of India constituted a committee on capacity
Senior Manager (Research Officer)
building which submitted its report in July 2014. The
Union Learning Academy -
committee has recommended a six-step process for Skill
People Excellence, Union Bank of India
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