Banking in India and International Journal
IJRIME
“CHANGING CULTURE IN PUBLIC SECTOR BANKS WITH THE ADVENT OF GLOBALIZATION: A CASE STUDY OF STATE BANK OF INDIA”
Volume1Issue3
ISSN: 2249- 1619
Dr. J.H.Vyas* Nishant Saxena **
ABSTRACT
In a past few years, Organizational culture has been an important theme in management and business research. Banks being significant player in the Indian economy are no exception to it. The Indian Banking sector is rapidly globalizing, making it important for Indian banks to ensure their practices match those of the best banks in the world. The role of banks is more challenging in a developing economy than in a developed economy. The Bank had to face a dramatic cultural change with these challenges. Presently, major task of the banks is to mobilize the savings of the people; create, spread the banking habit, and mobilize the country resources. An equally important function is to effectively utilize its human resource. Studies shows that organizational culture has a significant influence on employee performance. This study is based on secondary data and its objective is to understand the significant changes in culture in SBI in past few decades and examines various cultural drivers of bank’s performance. Key words: Banks, Culture, Globalization, Public Sector, SBI
*Professor, Disha Institute of Management and Technology,Satya Vihar, Vidhansabha-Chandrakhuri Marg, Raipur- 492 101 ** Assistant Professor, Disha Institute of Management and Technology, Satya Vihar, VidhansabhaChandrakhuri Marg, Raipur- 492 101 International Journal of Research in IT, Management and Engineering www.gjmr.org
131
IJRIME
INTRODUCTION
Volume1Issue3
ISSN: 2249- 1619
Indian banking sector is growing rapidly and is expected to enjoy a better growth opportunities in the future. Several Indian banks are pursuing global strategies as Indian companies globalize and people of Indian origin are increasing investment in India. At the same time, a large number of global banks
“CHANGING CULTURE IN PUBLIC SECTOR BANKS WITH THE ADVENT OF GLOBALIZATION: A CASE STUDY OF STATE BANK OF INDIA”
Volume1Issue3
ISSN: 2249- 1619
Dr. J.H.Vyas* Nishant Saxena **
ABSTRACT
In a past few years, Organizational culture has been an important theme in management and business research. Banks being significant player in the Indian economy are no exception to it. The Indian Banking sector is rapidly globalizing, making it important for Indian banks to ensure their practices match those of the best banks in the world. The role of banks is more challenging in a developing economy than in a developed economy. The Bank had to face a dramatic cultural change with these challenges. Presently, major task of the banks is to mobilize the savings of the people; create, spread the banking habit, and mobilize the country resources. An equally important function is to effectively utilize its human resource. Studies shows that organizational culture has a significant influence on employee performance. This study is based on secondary data and its objective is to understand the significant changes in culture in SBI in past few decades and examines various cultural drivers of bank’s performance. Key words: Banks, Culture, Globalization, Public Sector, SBI
*Professor, Disha Institute of Management and Technology,Satya Vihar, Vidhansabha-Chandrakhuri Marg, Raipur- 492 101 ** Assistant Professor, Disha Institute of Management and Technology, Satya Vihar, VidhansabhaChandrakhuri Marg, Raipur- 492 101 International Journal of Research in IT, Management and Engineering www.gjmr.org
131
IJRIME
INTRODUCTION
Volume1Issue3
ISSN: 2249- 1619
Indian banking sector is growing rapidly and is expected to enjoy a better growth opportunities in the future. Several Indian banks are pursuing global strategies as Indian companies globalize and people of Indian origin are increasing investment in India. At the same time, a large number of global banks
References: Volume1Issue3 ISSN: 2249- 1619 Ahmed, Masood, Masood Ahmed Khan(2003), Banking in India, Anmol Publications, 13 Chatterjee, Debojyoti (2002), "The Great SBI Makeover," Business Today, August 4 p.56 Guha, Krishna(1998), "State Bank of India Faces a Bumpy Ride," Financial Times, January 14, p. 38 Nazir A Nazir(2005), Person-Culture Fit And Employee, Commitment In Banks, Vikalpa Volume 30, No 3, July-September, p.33 Narsimhan C R L(2002), ‘A Vision for the largest Bank’, The Hindu, Online edition of India 's National Newspaper, Thursday, Jan 24, p.3 Mohan Prasad Shrivastava, Pradeep Kumar Pandey, V. P. Vidyarthi (2007), Banking reforms and globalization, APH Publishing, pp. 339-342 Singh Sampat (2004), Leadership in Indian Banking, ICFAI Books, pp. 117-124 Sharma Manoranjan (2008)), Dynamics of Indian Banking; views and vistas, Atlantic Publishers, pp. 160 State Bank of India(2009), World 's Largest Centralized Core Processing Implementation; website http://www.tcs.com/sitecollectiondocuments/case%20studies/bancs_case_sbi.pdf accessed on 27th June, 2011 • Veni P & Sree Devi P (2011), ‘Credit Risk Management in State Bank of India - A Study on Perception of SBI Manager’s in Visakhapatnam Zone’, International Journal of Research in Commerce, Economics and Management, Volume No: 1 (2011), Issue No. 2 (June), pp. 31-37 • Verma Virenda(2004) , "SBI Stays a Star Performer," Business Line, January 10, p.77 International Journal of Research in IT, Management and Engineering www.gjmr.org 141