Banks should work on workforce standardisation: RBI official

Kolkata, May 19 (IANS) Arguing in favour of workforce standardisation in the banking and financial sectors, Reserve Bank of India Deputy Governor Viral Acharya on Friday urged the banks to come up with leadership and initiative to achieve the goal.

"Workforce standardisation is needed. But everything cannot come from the central bank. The banks also need to take some leadership role and initiatives in this regard," Acharya said on the sidelines of the 'Ninth ICC Banking Summit 2017' organised by the Indian Chamber of Commerce here.

Describing the Indian banking system as a "fertile ground with a lot of potential", Acharya said the data standard should be improved before pushing for workforce standardisation.

"We want to push this forward... it is a long-term issue. But we need to improve the data standard first, collection and aggregation and then hopefully disseminate it," he said.

"We have commercial lenders; we have two big mortgage lenders and a few big lenders in the micro, small and medium enterprises segment. I think they can very well set the standards by evolving the data templates themselves and then they could be rolled out with the rest of the investment sector," Acharya added.

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