Innovative Human Resource Practices in Indian Banks: A Study from HR Manager’s Perspective

Banking sector is one of the vital financial pillars of Indian economy is one of the indispensable money related mainstays of Indian economy. The progression approach has influenced the intensity of banks because of the worldwide weights coming about into mix of Human Resource The board with business approaches. The review by Boston Consulting Group (BCG) and Indian Bank's Affiliation (IBA) report that the Indian keeping money industry will confront two up and coming difficulties that is an monetarily feasible answer for monetary consideration and HR structure in next multi decade. While the main test requests bizarre advancement and experimentation, the second undermines to injure the capacity of the biggest fragment of the saving money industry from having the capacity to advance and remain aggressive. The special complexities of people in general division make traditional HR arrangements ineffectual. The activities like "Pradhan Mantri Jan-Dhan Yojana" by the Honorable Prime Minister of India, banks commitment in the budgetary incorporation has helped up, however the representative's desires from the business have additionally emerged. This requires a need to advance the prior HR practices of the banks with the goal that the representative profitability can be improved. This paper intends to give an understanding to such advancements, identified with Human Resource Management with the assistance of a essential investigation dependent on the perspectives of HR chiefs of six diverse Indian banks both from open and private segment. These creative HRM rehearses have been recorded under seven distinct heads of HRM to be specific enlistment and determination, preparing and advancement, execution the executives, pay the executives, profession improvement, worker inspiration and representative security. A couple of the prior examinations have likewise been eluded for the last ends. The dimension of usage of these advancements may not be tasteful, yet the usage has been begun and the positive outcomes in the profitability will make these banks feel how essential these are for their development. It has been discovered that intermingling of practices of new and imaginative HR regions will profit the banks to wind up progressively aggressive.