EVALUATE THE NEED OF TRAINING AND DEVELOPMENT FOR THE EMPLOYEE SKILLS DEVELOPMENT: A SECONDARY RESEARCH OF PRIVATE BANKING SECTOR IN INDIA

The Banking sector undergoes a sea level changes with respect to the world?s economic situation irrespective of the economical status of the country. The challenges it faces shapes the way it behaves in the last few decades. The Banks in general have been well taken forward by the Private sector banks which set the destiny of its own compared to the public sector banks. The Reserve Bank of India or Central Banks in many other countries testifies the same the contribution made by them. The reason behind the sea level change or the challenges cannot be handled by Machine, Money or Materials but it is the Men the prime factor would take care of it, meaning they have been updating along with the changes and challenges it faces. The challenges are very similar like, up-gradation in the technology, people?s behavioral change, policy change worldwide, competition and fast changing facts and figures are all the prime contributors for the challenges in the private banking sector. Mumbai is not just one of the states in India where the banks has to function as similar to other places, it I one of the most happening gauged among the top states of cities in the world, therefore the global implication will fall on the Banking players in the state especially private banks, who are considerably fast runners. The challenges have been tackled by the human Resource, named, Employees were provided with the considerable training in two phases, viz., (i) In general and (ii) At a Global standard. The references have considerably contributed to justify and the need for the re-training and re-skilling among the employees of the private banks on all the technical and other areas where the skills to be sharpened. The result of the training well develops the employees professionally along with the organization and the economy as a whole.