IBA to hire advisory firm for leadership development in PSBs

Indian Banks' Association (IBA) will hire an advisory firm to assist Banks Board Bureau to appoint wholetime directors and develop strategy for leadership development in state-owned banks. Issuing a Request for Proposal (RFP), IBA has said there is a requirement of an advisory firm given the challenges being faced by PSBs in an increasing competitive landscape. The RFP says it is "now imperative" to deeply assess the leadership competencies and potential capabilities of the applicants for the post of wholetime directors of PSBs. The selected advisory firm however will not be involved in shortlisting of the candidates. As per the RFP, the advisory firm may have to engage with approximately 60 candidates/personages each year. IBA has also floated another RFP to appoint a 'Knowledge Partner' to Banks Board Bureau (BBB) to design, implement and institutionalise a flagship leadership development strategy for PSBs. Besides other things, BBB was set up by the government in 2016 to help PSBs develop a robust leadership succession plan for top management positions that would arise in future through appropriate HR processes. The Bureau is an autonomous recommendatory body.