25% more resignations in private banks..!? Reserve bank warns!

'Employees leaving private banks have increased by 25 percent. This has led to a risk of bank operations being paralyzed,' the Reserve bank has said. In this regard, the Reserve bank has stated in a study: Due to various problems, employees working in private sector banks and small finance banks have quit their jobs by 25 percent. This number has increased significantly in the last three years. There is a risk of the bank's operations being paralyzed. Employee attrition rates are high across select private sector banks and small finance banks (SFBs), the report, which was released by the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india (RBI) said. The total number of employees of private banks surpassed that of public sector banks (PSBs) during 2023-24, but their attrition has increased sharply over the last three years, with average attrition rate of around 25 per cent, it said.
In addition to causing losses, it also increases recruitment costs for banks. This also leads to disruption in customer services. Necessary measures should be taken to control employee attrition. This is not only a human resource process but also a goal that helps the company grow.It creates risks in banking operations. RBI guidelines should be followed in everything, including lending for jewelry, and top-up loans. It should be closely monitored to see if any irregularities are taking place. This is stated in it.
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Sowmiya Sriram

30/12/2024 01:06 PM