RBI to Hire Independent Consulting Firms to Overhaul HR Practices

Mumbai: The Reserve Bank plans to rope in outside consultants to overhaul its human resource practices, a move that would affect its nearly 18,000 employees.

The central bank will form a panel of up to six independent professional firms to help RBI in framing, implementing and delivering integrated HR solutions in the areas of HR policies, processes and systems, among others.

Among others, the empanelled consultants would advise RBI on matters like hiring, salaries, training, performance appraisal, retention and succession plans, the banking regulator said.

RBI has a total of around 18,000 officers and staff in its offices across the country.

The panel will help RBI in areas like strategic HR planning and advisory services; evaluation and assessment system; HR and management practices audits; beside others.

Market regulator SEBI recently roped in an independent consultancy firm for overhauling its functions and organisational structure, including HR practices.

The proposed panel will be set up for a period of three years, RBI added.

It further said that "as and when" specific tasks for consultancy services are identified, the empanelled consultant firms shall be asked to submit their offers for the same.

The central government-appointed Khandelwal panel on HR issues in public sector banks had suggested a slew of measures, including outsourcing more non-core activities in a time-bound manner.

The panel had also recommended raising the standard of recruitment, including the methodology and content for tests, besides making the testing of computer skills mandatory for both officers and clerks.

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