 "A man walks past the RBI headquarters in Mumbai. Photo: Kamlesh Pednekar")
A Reserve Bank of India (RBI) committee has recommended that banks should identify specialised areas for certification of staff manning key responsibilities.
To begin with, it said banks should make acquiring of a certificate course mandatory for areas like treasury operations, including dealers, mid-office operations, risk management like credit risk, market risk and accounting, including preparation of financial results, audit function and credit management including credit appraisal, rating, monitoring and credit administration.
RBI had constituted a Committee on Capacity Building in July 2014, under the chairmanship of former executive director, G Gopalakrishna, with the objective of implementing non-legislative recommendations of the Financial Sector Legislative Reforms Commission (FSLRC), relating to capacity building at banks and non-banks, streamlining training intervention and suggesting changes thereto in view of ever increasing challenges in the banking and non-banking sector. The Committee has made a number of recommendations for certification of staff.
To begin with, it said banks should make acquiring of a certificate course mandatory for areas like treasury operations, including dealers, mid-office operations, risk management like credit risk, market risk and accounting, including preparation of financial results, audit function and credit management including credit appraisal, rating, monitoring and credit administration.
RBI had constituted a Committee on Capacity Building in July 2014, under the chairmanship of former executive director, G Gopalakrishna, with the objective of implementing non-legislative recommendations of the Financial Sector Legislative Reforms Commission (FSLRC), relating to capacity building at banks and non-banks, streamlining training intervention and suggesting changes thereto in view of ever increasing challenges in the banking and non-banking sector. The Committee has made a number of recommendations for certification of staff.
