Banks must focus on drivers of business outcomes

April 1, 2021

The need for an integrated transformation, particularly in areas of culture, talent, and HR area is long over-due. Coincidently, such a transformation will not only alleviate many of the legacy challenges, but will also prepare PSBs towards the emerging future of banking, which is likely to be based on technologies (digitalization) and talent.

The theme of your post retirement work is on transforming Indian Banking. Most Bankers Focus on operational stuff like rising NPAs, recapitalisation issues and many other operational issues like interest rates, retail portfolio, but you seem to doggedly pursue a different kind of narrative. Could you elaborate about your take on the Banking industry?

AK You are very right. It is not that I am not concerned about operational issues. I headed two public sector banks and am quite conversant about various issues. The point is that everyone knows about the problems and issues in Banking and daily newspapers are full of them. I believe that reforms and transformation alone can turn around the Banking sector. Instead of focussing too much on business outcomes, we need to focus on drivers of business outcomes. In VUCA (Volatility, uncertainty, complexity and ambiguity) environment, we need to strengthen the drivers of business which are technology, people, leadership, culture and governance...

Dr. Anil K. Khandelwal

Dr. Khandelwal (PhD in management) is a well-known transformational leader of India who is credited with the transformation of one of the largest public sector banks- Bank of Baroda having 38k employees in just three years (2005-2008) from decline to most powerful and valuable brand during his tenure. His brand of leadership is based on building Intangibles like culture, people, brand, governance, leadership and technology. He had a long stint in Personnel and IR.
Dr. Khandelwal is a prolific writer and has authored/edited eight books. His best-selling book - Dare to Lead is one of the most authentic narrations of his transformative interventions. The Bank of Baroda transformation story has been extensively written about by the academics and has found place in articles on leadership in India, mentioned in Harvard Business Review articles. Leading Management institutes like IIM Ahmedabad and Bangalore have written case studies on the transformation of Bank of Baroda during his time. His another best- selling book is- Chess Master or Gardener.
He also chaired a committee on HR in Public sector banks, popularly known as Khandelwal committee.
He is a multi-awarded leader having received Asian Banker, Singapore's highest honour, Life time achievement award for leadership in the financial sector, the only Indian to have received this honour so far. He is also a recipient of Life time achievement award from National HRD Network, India for his contribution to HR profession. Economic Times has rated him among the 100 most powerful CEOs of India consecutively for three years. His brand of leadership and the work is globally recognised.
He is on the Board of SBIL, Kolkata and also on the central training committee of SBI.

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