Fundamental reset in the training of Public Sector Bank officers

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman launched a uniform training programme, including modules on preventive vigilance, for induction and mid-level training for officers of Public Sector banks (PSBs). The virtual function was attended by Shri Sanjay Kothari, Chief Vigilance Commissioner, the top management of Indian Banks’ Association and PSBs, and senior officials of the Department of Financial Services.

Finance Minister, Nirmala Sitharaman on fundamental reset in training of Public Sector Bank officers

Oct 2, Delhi, Ministry of Finance: The curriculum for the uniform training system has been designed in consultation with all stakeholders, including the Central Vigilance Commission and the bank management. The uniform system seeks to institutionalise and standardise the training imparted to young bank officers at the time of their joining, and subsequently at the mid-level stage of their career. The training is aimed at equipping bank officers with a proper understanding of banking rules and procedures, as well as errors and deviations that could potentially result in vigilance cases.

The Finance Minister expressed the hope that this initiative will go a long way in enabling bank officers to handle their responsibilities correctly and prudently, without making unintended mistakes due to lack of awareness of rules and procedures that could expose them to vigilance related proceedings. She further stated that the initiative will enable young officers to assume leadership positions in future. Such training will also equip officers with product knowledge, emerging technologies and data mining skills; develop their team spirit and sense of ethics, and bring about a positive attitudinal change in them.

Smt. Sitharaman emphasised that bank customers will also be benefitted as a result, as well-trained officers attending to their banking requirements would make their banking experience pleasant and hassle-free.

The Finance Minister exhorted the bank management to be conscious of the importance of this initiative and to leave no stones unturned in making it a success.