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Thursday, December 17, 2015

HDFC Bank elevates seven senior executives in bid to retain talent

HDFC Bank has elevated 7 senior executives to group heads of various businesses as it tries to groom talent and protect them from being poached by emerging rivals such as IDFC Bank and other payment banks.

India's second largest private sector bank has elevated Parag Rao, who heads the bank's card payments and merchant acquiring business, Nitin Chugh who is in charge of the bank's Digital Banking services, Nirav Shah who handles the SME portfolio, and Ravi Narayanan who helms the bank's branch banking vertical.

Others who have been promoted are Ashok Khanna who is the head of the auto loan division, Ashima Bhat who is currently part of the finance team, and Munish Mittal, the Chief Technology officer of the bank. HDFC Bank will now have 19 executives as part of its senior management team. HDFC Bank had seen three senior level exits in August this year, when Biju Pillai, Amit Kumar and Birendra Sahu quit to lead IDFC Bank's personal and business banking divisions.

The bank had also elevated Dhiraj Relli to head of HDFC Securities and Aseem Dhru as group head -business banking, rural, commodity and agri-lending businesses in June this year.

Although the bank has re vealed very little about its succession planning or management roles for senior staff, experts believe these promotions follow the entry of potential banking companies which are scou ting for experienced and proven bankers.

In December 2013, HDFC Bank had elevated its long time second-in-command Paresh Sukthankar as deputy managing director, a move that was interpreted as improving Sukthankar's chances of succeeding Aditya Puri as MD and CEO of India's most valuable bank.

Other private sector banks like ICICI and Axis Bank ha ve also faced the brunt of employee attrition after the launch of IDFC, Bandhan and several payments banks. Some bankers point out that the ability to retain talent has been the lowest in years with new entrants of fering generous pay hikes to employees especially at the junior and middle manage ment level.

Source : Economic Times
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IDRBT to develop digital banking framework

The Institute for Development and Research in Banking Technology (IDRBT) has announced plans to launch a digital banking framework within the next few months, aimed at incorporating new channels of payments.

A.S. Ramasastri, Director of IDRBT, told BusinessLine, “The framework/ platform being developed with inputs from banking sector players, technology firms, and IDRBT research teams, is also aimed at meeting emerging requirements in the e-commerce sector.”

Recent advances in Big Data and its analytics has thrown up immense possibilities in identifying areas of business propositions for banks, while meeting the choosy demands of their customers.

Research in this area has enabled banks to develop their own data warehouses for customer relationship management (CRM) initiatives. Big data has, therefore, become the mantra for understanding new leads for banks, the likes and dislikes of customers, their behavioural analysis, and information security threats, among other issues.

Over the years, IDRBT, based in Hyderabad and part of Reserve Bank of India, has played a significant role by contributing through centres of excellence in analytics, mobile banking, cyber security, Centre for Open Source Systems, and Centre for Virtualisation and Cloud Computing.

“There has been a huge growth in data requiring specialised systems and tools to make sense of the information flow. While a lot of business intelligence has been built into banking systems, it calls for more advanced systems to extract information from Big Data,” he said.

Towards this, IDRBT is seeking to focus on new areas of fuzzy computing, neuro computing and hybrid neuro-fuzzy computing. By exploring new applications areas and designing novel hybrid algorithms for solving different real world application problems, the Digital Framework seeks to use the power of fuzzy and neuro computing to address complex, uncertain, and imprecise problems.

The concept of Fuzzy Neuro Computing gained importance to analyse and make sense of complex data that keeps flowing into the banking systems. By use of various computing techniques, it is aimed at providing solutions to make the right decisions.


The IDBRT Director said the Institute is all geared up to introduce a Post-Graduate Diploma in Banking Technology (PGDBT) commencing from July 2016.

Describing the course as a unique programme designed to provide the Indian banking and financial sector a pool of talented professionals with technology expertise, he said this is a full-time regular one-year programme that provides essential learning inputs on technology implementation, integration, and management to meet the challenging technology requirements of the banking sector. The selection is based on CAT scores.

Source : Thehindubusinessline
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