RBI deputy warns of high attrition in banking sector

PTI
Published Feb 21, 2015, 8:25 am IST
Updated Jan 10, 2016, 8:38 am IST
Deputy governor foresees the demand for high specialisation rising in the banking space
RBI deputy governor R. Gandhi  warned the industry to brace for higher attrition, being already faced by highly unionised public sector lenders
 RBI deputy governor R. Gandhi warned the industry to brace for higher attrition, being already faced by highly unionised public sector lenders
Mumbai: With the banking sector being thrown open to niche as well as more private players, RBI deputy governor R. Gandhi on Friday warned the industry to brace for higher attrition, being already faced by highly unionised public sector lenders.
 
“We’ve been telling banks to expect people to hop from one institution to another. Old method of developing a cadre and expecting them to continue with you for life is going to change. Attrition is going to be the norm,” he said. Addressing a seminar organised by the Sebi-managed National Insti-tute for Securities Markets, at its upcoming campus at Patal Ganga here, the deputy governor said he foresees the demand for high specialisation rising in the banking space.
 
“It is going to be expertise driven and niche. When expertise, knowledge and specialisation are in high demand, people will be hopping jobs,” he said. However, he said RBI doesn’t have latest attrition levels but added that it foresees a spike in demand for experienced hands as more new banks come up. 
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