In-house Skill Development

December 4, 2022 In-house skill development This refers to the report "RBI official cautions banks against outsourcing core activities" (The Hindu Business Line, December 4). The observations made by ED Chaudhary are primarily about fintech services but one is tempted to extend the implications of the caution to the present trend to short-circuit need for in-house skill development and save costs on maintaining regular staff on the rolls of institutions. There's nothing wrong in thinking on the above lines. But in the long term, in the interest of better performance and data security for institutions in the financial sector, including RBI, balance of convenience would be to develop and maintain in-house talent. Initially in several new and developing technology-intensive areas, dependence on external agencies can be unavoidable. But even then, efforts should be to limit external involvement to the minimum period. M G Warrier Mumbai


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