In
financial systems across the world, today's buzzwords
are competition, consolidation and stability, proactive
and prudential regulations, enhanced transparency
and accountability, best practices of corporate governance,
comprehensive and effective regulation and supervision.
These have together played a key role in creating
a secure and conducive environment for the functioning
of the financial system.
However,
the driving force in the path ahead will be the immense
skill capabilities that one possesses in terms of
human resources. Now, `human bias' is likely to get
stronger and quality of human resources will become
the cutting edge of competitiveness. A forward-looking
approach to our long-term vision must focus on human
resources in a continuous cycle of competency and
development.
In
order to face competition and survive in the market,
we have to adopt value-based banking. In keeping with
the technological advancement in the banking system
and enhanced technical skills of the staff, there
is also an increase in the number of frauds. Thus,
Liberalization, Privatization and Globalization (LPG)
syndrome has somewhat led to rising columns of fire
and smoke of frauds and scams. Therefore, we have
to use the liberalized and deregulated regime with
utmost dignity and honesty. |
