Recruitment Selection Training and Development in Public Sector Banks A case study of State Bank of India Ranchi Zone

Abstract

newline Human resource is the vital factor of production. Human resource is a product of human relations movement of the early 20th century, when researchers began documenting ways of creating business value through strategic management of the workforce. The function was initially dominated by transactional work such as payroll and benefit administration. But because of factors such as globalization, company consolidation, technological advancement, and further research, human resource now focuses on strategic initiatives like talent management, succession planning, mergers and acquisitions, industrial and labor relations, diversity and financial inclusion. newlineTo bring out the best in a man is the essence of human resource development. Human resource development (HRD) is the process of increasing the capacity of human resource through the development. HRD is the process of adding value to individuals, teams and the organisation as a human system. newlineFinancial institutions, such as banks, play a very significant role in mobilizing savings for investment purposes. The Indian banking sector faces many challenges. It is very important to sustain and accelerate the current economic growth speed mobilizing resources of resources. And it is also to extend financial services to bring large number of people who continue to remain outside the banking system. newlineThe important feature of Indian workplace is demographic uniqueness. It is estimated that population in both China and India will cross 1.45 billion people by 2030; however India will have larger workforce than China. It may be noted that about half of India s population of 1.1 billion people are less than 25 years of age. Hence, everyone must realize the role of human resources in all round development and growth of the country such as India. newlineThe public sector banks have undergone changes since the nationalization of banks in 1969. The process of privatization, liberalization and globalization had changed the economic market across the globe. Study reveals that human