Human Resources Management and Strategy in the Indian Banking Industry

Deecee School Journal on Organization and Management, Vol. 3, No. 1, September 2011

21 Pages Posted: 14 Nov 2012

Date Written: November 13, 2012

Abstract

The Indian economy has experienced rapid economic growth since the mid 1990s. Due to the government’s deregulation policy, the country has been more exposed to the global economy. This is the result not only of foreign direct investment that has poured into the country but also the decentralization policy of the government a priority has generated more investment in the other regions of the country. The economy of India, measured in USD exchange rate terms, is the twelfth largest in the world, with the GDP of around $1 trillion in 2008. It recorded a GDP growth rate of 9.1 per cent for the fiscal year 2007-2008 which makes it the second fastest big emerging economy, after China in the world. India’s economy is diverse and consist of various activities including industry, agriculture and services. Its contribution to GDP is 19.3 per cent, 19.9 per cent and 60.7 per cent respectively. India is a major exporter of highly skilled workers in software and financial services. India is the fifteenth in services output. It is estimated that half of the India’s current population of 1.1 billion people are under the age of 25. Salaries in India have witnessed a 13-14 per cent growth, higher than that seen in China and other South East Asian countries . According to a Pricewaterhouse Coopers (PwC) report, India may well be the third largest banking hub in the world by 2040. To the upswing of the Indian economy, a younger population, the low penetration of banking services in the country and growth in salaries, the Indian banking services today stands on the threshold of exponential growth. The competition within particular industries has led to the high turnover and poaching of personnel. This leads to a question of human resource management and strategy in a particular industry such as banking which has long acted as the main activator and push factor to the economic development process of the country. This paper traces out the conceptual framework and then review banking industry to investigate its development over the time and the current scenario of Human Resource Management( HRM).

Keywords: human resource management, strategy, Indian economy, Indian banking, Industry

JEL Classification: G 21

Suggested Citation

Ramu, N., Human Resources Management and Strategy in the Indian Banking Industry (November 13, 2012). Deecee School Journal on Organization and Management, Vol. 3, No. 1, September 2011, Available at SSRN: https://ssrn.com/abstract=2174848

N. Ramu (Contact Author)

Annamalai University ( email )

Annamalainagar
Annamalai University
Chidambaram, TN Tamil Nadu 608002
India

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
250
Abstract Views
1,191
Rank
222,563
PlumX Metrics