After training The 3,000+ POs and 8,000+ associates with some banking knowledge will be channeled into various business roles.
It should be noted that this occurs at a time when the banking sector is increasing its dependence on technology While looking for new ways to captivate customers, some players are also grappling with challenges on this front.
“We expose them to banking and then channel them into various roles in business and IT, depending on their aptitude and temperament, and that’s something that helps us ensure that there’s a continuous supply of technical labor to the bank,” Khara told PTI.
The development also comes at a time when the wear in it IT Sector – a favorite job opportunity for engineering graduates – is declining, leading to less hiring by such companies, even when the supply of engineering graduates is high.
Khara said OSE The bank invests heavily in training its staff and also has an in-house institute dedicated to inculcating technological skills. All staff have to be at the forefront of technology, Khara said, noting that the bank handles a large volume of transactions and this has to happen. “Technology is very important and none of us can ignore it,” he said, adding that the bank also takes guidance from the regulator on these aspects on a regular basis.
Of late, the sector’s regulator, the RBI, has been increasing its focus on technology and penalising banks for its shortcomings.
Khara declined to share the bank’s total technology spending but stressed that it is the highest in the industry, while an official said it is much higher than the industry average of 7-8 percent of operating expenses.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.