Page 46 - Banking Finance March 2021

ARTICLE

HR: THE LIFE

LINE OF INDIAN

BANKING

SECTOR

Introduction has witnessed rapid changes during past two decades in
relation to Human resource. So, we can state that the role
The Human Resource has always served as a backbone of
the Indian Banking system. The various aspects of Human of Human Resource management has penetrated its roots
Resource management flow as a blood to keep up the deep into the ever changing environment of the banking
proper functioning of the Indian Banking sector alive. system, giving it a drastic change to cope up with its ultimate
Banking sector plays a key in the development of Indian goal of being the best in the market and providing employees
satisfaction. Banking sector is one of the vital financial pillars
economy.
of Indian economy, so in order to keep the pillar upright a
sound foundation of human resource management is
The Indian banking sector deals in providing services to its
needed.
customers and employees at different hierarchy in order to
facilitate them with the maximum level of satisfaction which In India, banks play a strategic role in attracting deposits
is directly based on the human resources where firstly the from the people and in deploying these funds for lubricating
needs of the customers and employees are identified and
various sectors of the economy. Over the years there has
provided with services required. The Indian Banking industry
been tremendous growth in the various parameters which
could be only possible with the sound functioning of the
About the author Human Resource department of the banking sector.
Human factor plays an important and essential role in the
Paritosh Kumar
Senior Manager (Faculty) development of any country. Human factor in banking
Union Bank of India organisations gained significance due to the fact that most
Staff Training Centre, Kolkata of the problems in the organisations are human and social
in nature than physical, technical or economic. It is people

46 | 2021 | MARCH | BANKING FINANCE