hr.economictimes.indiatimes.com | www.ETHRWorld.com
New Delhi: The Centre has asked state-run banks to focus on the capacity building of their key executives and specialised senior officials, including chief technology officers and chief revenue officers.
It is keen that the top brass of public sector banks (PSBs) is geared up to handle fast-changing market dynamics and technological outgrowth, said people aware of the matter. “We want them to build strength in areas that require in-depth knowledge, such as risk management, digital infrastructure and cybersecurity,” said a government official, who did not wish to be identified.
In the past two financial years, PSBs have made a turnaround, backed by a decrease in bad loans. In 2022-23, PSBs earned a record aggregate net profit of about ₹ 1.05 lakh crore, almost triple the net profit earned in 2013-14. The government has been pushing banks to review their systems and adopt best practices to tackle issues such as fraud and cybersecurity risks. It has asked chief executives of banks to monitor large-value bank fraud cases and suggested that training sessions may be organised for chief vigilance officers or officials involved in credit decisions to avoid common lapses that lead to investigation. Last month, the government…
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