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Transformational Leadership in Banking
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Transformational Leadership in Banking
Challenges of Governance, Leadership and HR in a Digital and Disruptive World

First Edition
Edited by:
  • Anil K. Khandelwal - Former Chairman and Managing Director of Bank of Baroda and Dena Bank, India


March 2021 | SAGE Publications Pvt. Ltd
Transformational Leadership in Banking: Challenges of Governance, Leadership and HR in a Digital and Disruptive World by Anil K. Khandelwal offers a roadmap on leadership which is all about converting adversity into an opportunity for transformation. Through an excellent set of articles, case studies and interviews, this book offers a way forward for transformational leadership of the Indian banks.

Despite their many achievements, public sector banks continue to face several challenges, such as increasing non-performing assets, depleting market share and low market capitalization. In the context of competition and digitalization requiring new business models, this book argues for a fundamental shift in the structure and process of governance, including board-level autonomy, CEOs tenure and compensation, people process, talent development and building a leadership pipeline, to make banks resilient, strong and future-proof. 

A must-read for anyone interested in the health of Indian banking.
 
Foreword by Vinod Rai
 
Preface
 
Acknowledgements
 
Introduction
 
PART I Essays from Academics and Practitioners
 
SECTION I Future Banking Environment
M. S. Sriram
The Changing Context of Governance and Leadership in Public Sector Banks
Sushil Saluja
Banking on Change: The Digital Revolution Is Now Here
Akhil Handa
Future of Work in BFSI Organizations
 
SECTION II Governance
Late N. Balasubramanian
Human Capital and Ethical Bank Governance: Some Perspectives from India
Anujayesh Krishna
Leadership Choices in Building Better Governance: Regulation or Culture
Anil K. Khandelwal and Anujayesh Krishna
Strategic Human Capital Management and Banking Governance: An Unexplored Symbiotic Relationship in PSBs
Atul Kumar
Honouring Legacy while Embracing Evolution: The Ethics Narrative in SBI
 
SECTION III Leadership
Anil K. Khandelwal
Banking Transformation as a Leadership Experience: Fifteen Actionable Insights from the Trenches
Late Pritam Singh and Asha Bhandarker
Organizational Transformational: Agenda for Indian Banks
Abinash Panda
Grooming Leaders in Public Sector Banks: Proposing a Leadership Development Process
Raj Bowen
Coaching and Mentoring- The Unsung and Underutilized Warriors of Leadership Development
Anil Sachdev and Shyam Viswanathan
Crafting and ‘Living’ the Bank’s Culture: Notes from the Field
Prasenjit Bhattacharya
Leadership in Times of Crisis: Lessons from COVID- 19 Crisis
Gordhan K. Saini
Employer Branding to Build Human Capital Advantage
Kuriakose Mamkoottam
Trade Unions in the Digital Economy with Special Reference to the Banking Sector in India
 
SECTION IV Human Resources
Nishchae Suri
Skilling Is a New Currency: Are You a Learning Organization?
Rajiv Jayaraman
A New Manifesto for CHROs in the Era of Digital Change
Rajeshwari Narendran
A Journey from Transactional to Transformational Function: HR Research Value Add in Banking
M. Mahapatra
Challenges of HR in Indian Public Sector Banks: Reflections and Confessions of a CEO
Prakash Ranjan
A Passionate Journey of Continuous Transformation in HR
Ashish Pandey
Wellness and Yoga: Investment for the Bankers
 
PART II Case Studies
Alok Kumar Choudhary and M. Jayashree Reddy
HR as Strategic Business Partner in SBI Transformation
Joydeep Dutta Roy
Sustainable People Processes and Leadership Development in Bank of Baroda
T. K. Srirang and Soumendra N. Mattagajasingh
The Human Resources Story of ICICI Bank
Brajeshwar Sharma
Digital Transformation of HR at Union Bank of India
 
PART III Perspectives from Experts
Kewal Handa
An area of grave concern is the fear psychosis in the executives
Ajay Nanavati
You need best-in-class leaders to shift the titanic
Ravi Venkatesan and Biju Varkkey
Unless management has sufficient autonomy in HR and governance structure, PSBs will move from one problem to another
H. Krishnamurthy
Bank directors require training in specific areas of technology
T. V. Rao
HR function requires huge transformation in terms of its structure, processes and competencies
Arun M. Kumar
Boards must objectively hold mirror to themselves, reflect on their own capabilities and contributions
 
Index

Dr Anil K. Khandelwal is a respected banking figure who has earned his stripes through his well-recognized work at Bank of Baroda (BOB). In this book, Dr Khandelwal makes a powerful case for urgent and integrated reforms in the banking sector. This compilation by him offers timely solutions by focusing on issues that I couldn’t agree more with and are needed for a strong governance structure and nurturing the right talent. I highly recommend this book for those who want to seriously understand the challenges faced by banks in India.

Deepak Parekh
Chairman HDFC Ltd

Dr Anil K. Khandelwal’s edited book on transformational leadership in banking is both timely and instructive, with excellent perspectives on the issues of governance, leadership and HR in a digital environment. The book is a blueprint for transformation and reforms, especially in public sector banks, and will be of immense value to policymakers, regulators, board members, CEOs, researchers and to all those in leadership roles and the public at large. 

G. C. Chaturvedi
Former Secretary, Government of India and Chairman, ICICI Bank and National Stock Exchange

Dr Khandelwal is a living legend for BOB. He has been a distinguished former chairman who pretty much invented a new template of an HR-driven transformation in terms of managing public sector banks, and BOB was his laboratory. This book, edited by Dr Khandelwal, not only brings fresh insights from his pen but is also an outstanding curated collection of essays and observations that encompass the broad spectrum of issues that confront banks today. As we face another crisis since COVID, there is no doubt that the answers to our problems must be in new ways of working and talent management. I am confident that all readers of this book would come away educated, enlightened and wiser.

Sanjiv Chadha
Managing Director and CEO, BOB

This book by Dr Khandelwal, who is a thought leader and authority on leadership and governance, is quite timely. What makes the book exceptional is its focus on intangibles such as leadership, governance and talent in transforming banks, which are normally ignored. Strong board leadership is needed to pilot internal reforms to make individual banks technology-driven and customer-centric. The book is strongly recommended to policymakers, senior bankers and academics as rich source material for reforms.

Shyamala Gopinath
Chairman, HDFC Bank, and Former Deputy Governor, RBI

With the unique perspective of someone who has weathered it all as a head of not one, but two public sector banks, Dr Khandelwal provides a compelling, thought-provoking narrative and practical know-how on transformational leadership in the high-octane banking industry. This multifaceted account provides powerful examples of case studies, best practices and experiences of governance, change management and innovation by seasoned professionals and CXOs in systemically critical organizations. I feel the book will be of immense value to the C-suite, academics, regulators and policymakers alike. This is a must-read for every forward-thinking leader and HR practitioner.

Rajnish Kumar
Former Chairman, State Bank of India

This book provides invaluable insights into the world of banking and guides us on what is required to succeed in these turbulent times. There is no better person than Anil Khandelwal to draw from his rich experience and understanding of the sector in putting together this collection of writings—a must-read for all. 

Naina Lal Kidwai
Ex-chairman HSBC India and Director on the Board of HSBC Asia Pacific

Leadership is all about converting adversity into an opportunity for transformation. The twin forces of technology and a global pandemic are a perfect setting to unlock the potential of public sector banks in India. As usual, Anil Khandelwal has curated an excellent set of chapters, case studies and interviews, and he offers a roadmap to transformational leadership for Indian banks.

Jagdish N. Sheth
Charles H. Kellstadt Professor of Business Goizueta Business School, Emory University Atlanta, USA

This timely collection of chapters, interviews and case studies on the role of leadership and people development in contemporary Indian banking, provides insightful perspectives on how the banking sector can become an engine for India’s economic development.

Rishikesha T. Krishnan
Director, Indian Institute of Management (IIM) Bangalore

Dr Anil Khandelwal’s edited book on transformational leadership is a great contribution especially in the banking sector, where operational perspectives have guided leader’s decisions at a time when market insights, customer centricity, agile technologies and processes and talent development should have been the priorities. This book’s strength is an excellent amalgam of academic research and practice. Dr Khandelwal himself is a transformational leader, and hence, this book will be a great contribution to our understanding of the transformation process and leadership in the banking industry.

Rajan Saxena
Former Vice Chancellor, Narsee Monjee Institute of Management Studies, Mumbai

This exceptional book probes the structural issues framing public banks and suggests mechanisms that will improve the health of the financial system. Bank nationalization did raise India’s savings rate, but finance was intermediated inefficiently. This landmark book focuses on governance, the composition of bank boards, tenure of CEOs, compensation, leadership pipeline and talent management, and provides insights as to how public sector banks can become strong and profitable institutions. Policymakers would do well to act fast on these recommendations.

Errol D’Souza
Director, IIM Ahmedabad

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ISBN: 9789353887568
£32.00