A comparative study of HR policies of RBI with five Commercial banks

People are the backbone of any organization. Only a skilled and talented workforce can make or break a company. As a result it is important for a company to invest in its employees by providing them congenial working environment, by giving perquisites and other benefits in order to retain existing employees and for attracting young and talented people and regularly train their employees. For the purpose of this study employees of RBI and various commercial banks were being consulted. After interacting with RBI employees it is found that 90% of the employees are satisfied with their job because of work life balance, job security and various benefits which the bank provides them. Most of them felt that the bank should amend its training policy. On the other hand reaction of employees of various commercial banks were mix. People who are working in private sector banks are satisfied with their job profile and training policy. But due to stress some of the employees may switch their job if they get better opportunity. Whereas the employees of public sector banks are quite satisfied with their job. Their main concern is that the banks should regularly train them and give them challenging tasks. For the purpose of this research paper two questionnaires were sent: one for RBI employees and another for employees of various commercial banks. The questions are based on various parameters such as selection procedure, training policy, appraisal policy, benefits provided to employees, etc. After analysing the responses received from employees of various commercial banks and employees of RBI, suggestions were given to RBI on how they can make their HR policy more robust and effective.

The objective of the study is:

1. To study and analyse the HR policies followed at RBI.

2. To study the HR activities of five commercial banks: IDBI, PNB, SBI, ICICI and Kotak Mahindra.

3. Compared the HR policies of RBI with commercial banks.

4. Based on the study gave suggestions to RBI in order to make their HR policies more robust and effective.