The need for professional ethics and human values in financial sector was the focus of a three-day leadership clinic attended by about 30 executive directors and chief executive officers of nationalised banks. The clinic, organised by the Indian Institute of Management, Kozhikode (IIM-K), was led by IIM-K Director Debashish Chatterjee and his colleagues. It concluded on Wednesday.
Rajiv Takru, Secretary-in-Charge of Banking in the Ministry of Finance, addressed the participants.
The objective of the clinic was to teach alternative dimensions of leadership in the prevailing banking scenario. “A crisis of leadership in the global banking industry was glaringly evident in the recent financial crisis. Many large institutions failed to transform the unfolding events into strategic opportunities, “an IIM-K press note said, explaining the relevance of the programme.
In the aftermath of the crisis, Indian banks too faced unprecedented challenges. The economic landscape had deteriorated, the regulatory frameworks were fast changing and there was immense pressure from the competing stakeholders to deliver on conflicting objectives, the press note added.
The banking sector was experiencing a new wave of change with a number of new-generation banks coming up. The workshop addressed the challenges of facing these institutions so that all public sector banks were equipped with a defined leadership quality to adapt to the present requirements, the press release said.
“The workshop shifted the participants’ perspective and transformed their views about how they are going to lead these banks in the future. This workshop was to sensitise the captains of the banking industry to the role of human values and professional ethics in the financial service sector,” Dr. Chatterjee said.
Among the participants were Usha Ananthasubramaniam, executive director, Punjab National Bank; Ashok Kumar Gupta, executive director, Canara Bank; and Raj Kumar, executive director, Indian Bank.
The workshop was also attended by the future Chairmen and Managing Directors (CMDs) of Allahabad Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab National Bank, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Andhra Bank, and Vijaya Bank, the press release said.