Kamlesh Od

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Table of Content

Topic Name Page No.

Introduction about Indian Banking Industry .....................1

Literature review

What is Change..2 Forces for change

External Forces2 Internal Forces.....3

Nature of Change ...4 Management of Change..4 Approaches to organizational change....5 What is planned change?......................................................................6 What are the goals of planned change?..............................................6

Recent trends in banking industry..7

About State bank of India.......9

Research work..10

Analysis and Findings ..11

Conclusion15

References 16


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Introduction about Indian Banking Industry

Indian banking is the lifeline of the nation and its people. Banking has helped in developing the vital sectors ofthe economy and usher in a new dawn of progress on the Indian horizon. The sector has translated the hopesand aspirations of millions of people into reality. But to do so, it has had to control miles and miles of difficultterrain, suffer the indignities of foreign rule and the pangs of partition. Today, Indian banks can confidentlycompete with modern banks of the world.Before the 20th century, usury, or lending money at a high rate of interest, was widely prevalent in rural India.Entry of Joint stock banks and development of Cooperative movement have taken over a good deal of businessfrom the hands of the Indian money lender, who although still exist, have lost his menacing teeth.In the Indian Banking System, Cooperative banks exist side by side with commercial banks and play asupplementary role in providing need-based finance, especially for agricultural and agriculture-based operationsincluding farming, cattle, milk, hatchery, personal finance etc. along with some small industries and self-employment driven activities.Generally, co-operative banks are governed by the respective co-operative acts of state governments. But, since

banks began to be regulated by the RBI after 1st March 1966, these banks are also regulated by the RBI afteramendment to the Banking Regulation Act 1949. The Reserve Bank is responsible for licensing of banks andbranches, and it also regulates credit limits to state co-operative banks on behalf of primary co-operative banksfor financing SSI units.Banking in India originated in the first decade of 18th century with The General Bank of India coming intoexistence in 1786. This was followed by Bank of Hindustan. Both these banks are now defunct. After this, theIndian government established three presidency banks in India. The first of three was the Bank of Bengal,which obtains charter in 1809, the other two presidency bank, viz., the Bank of Bombay and the Bank ofMadras, were established in 1840 and 1843, respectively. The three presidency banks were subsequentlyamalgamated into the Imperial Bank of India (IBI) under the Imperial Bank of India Act, 1920which is nowknown as the State Bank of India.

The present Rs 64 trillion (US$ 1.17 trillion) Indian banking industry is governed by the Banking RegulationAct of India, (1949) and is closely monitored by the Reserve Bank of India (RBI). RBI manages the country'smoney supply and foreign exchange and also serves as a bank for the Government of India and for the country'scommercial banks. As of now, public sector banks account for 70 per cent of the Indian banking assets.

Liberal policies, Government support and huge development in other economic segments have made the Indianbanking industry more progressive and inclusive with regard to global banking standards.According to an IBA-FICCI-BCG report, Indias gross domestic product (GDP) growth will make the Indianbanking industry the third largest in the world by 2025. According to the report, the domestic banking industryis set for an exponential growth in coming years with its assets size poised to touch USD 28,500 billion by the

turn of the 2025.

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Change

Organizational change takes place because of the dynamic and changing business environment. Thisenvironment is marked by competition which creates two situations:

Readiness to face competition Unreadiness to face competition

In case the organization accepts the challenge to face competition, it flourishes in builds effectiveness.Meaning of change: The term change refers to any altercation which occurs in the overall work environment ofan organization.

Change simply refers to alteration in the existing conditions of an organization. Even in most stable

organizations change is necessary to maintain stability. The economic and social environment is so dynamic

that without adapting to such change even the most successful organizations cannot survive in the changed

environment. Therefore, management must continuously monitor the outside environment and be sufficiently

innovative and creative to implement these changes effectively.

Organizations encounter different forces for change. These forces come from external and internal

sources of the organization.

EXTERNAL FORCES

External forces for change originate outside an organization. There are four key external forces for change:

Demographic Characteristics: These include age, education, skill level and gender of employees

Organizations need to effectively manage these characteristics in order to receive maximum contribution and

commitment from their employees.

Technological Advancements:Both manufacturing and service organizations are increasingly using technology

as a means to improve productivity and market competitiveness.

Market Changes:The emergence of a global economy is forcing Indian organizations to change the way they

do business.

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Changing individual behavior is more time consuming and a difficult task. The linkage between attitude

and behavior is not direct and therefore changing behavior is more difficult than changing attitudes. One's

attitude does not necessarily get reflected in one's behavior. For example, we know that honesty is the best

policy and we have favourable altitudes towards people- who are honest but in certain situations, we may still

act in a less honest way.

Changing group behavior is usually a more prolonged and harder task. Every group has its own dynamics of

push and pull that attempt to neutralise the change that may have taken place in an individual. Due to this groupdynamics, individual member's changed behavior may revert to earlier normative behavior in order to

maintain the change in the existing conditions. However, due to the same reasons of a group's over-riding

influence on individual members, sometimes it may be easier to tackle the group as a whole rather than trying to

change the behavior of members one by one.

Bringing total behavioral change in all the groups and members of an organization involves difficult long-range

effort. More often than not, it is a slow painful process to usher a total cultural change in an organization.

It is possible to change total organization without focusing at the level of individual's change of knowledge,

attitude and behavior. Modification in the organization's structures, policies, procedures and techniques leads to

total organizational change. These types of changes alter prescribed relationships and roles assigned to members

and eventually modify the individual members behavior and attitudes. As these two kinds of changes are

interdependent, the complexity of managing change increases manifold.

APPROACHES TO ORGANIZATIONAL CHANGE

As organizational change is a complex process, therefore managers must approach it systematically and

logically. Some organizational changes are planned whereas other changes are reactive. Planned change is

designed and implemented by an organization in an orderly and timely fashion in the anticipation of futurechange.

Reactive change results from a reaction of an organization to unexpected events. In contrast to planned change

it is a piece-meal response to circumstances as they develop. External forces that the organization has failed to

anticipate or interpret always bring about reactive change. Since reactive change may have to be carried out

hastily, it increases the likelihood of a poorly conceived and poorly executed Program.

Planned change is always preferable to reactive change. Managers who sit back and respond to change only

when they can no longer avoid it are likely to waste a lot of time and money trying to patch together a last-

minute solution. The more effective approach is to anticipate the significant forces for change working in an

organization and plan ways to address them. To accomplish this, managers must understand the steps needed for

effective change.

What is planned change?

Planned change is a set of activities in an organization that are intentional and goal-oriented..

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What are the goals of planned change?

Essentially there are two goals:

1. It seeks to improve the ability of organization to adapt to changes in its environment.2. It seeks to change employee behavior since an organizations success or failure is essentially due to the

things its employees do or fail to do, planned change is concerned with changing the behavior ofindividuals and groups within the organization.

Planned Change in terms of order of magnitude

First-order Change (or Transactional Change): In this type of change, features of the organization changebut fundamental nature of the organization remains the same.First order change goes by many labels: transactional, evolutionary, adaptive, incremental, or discontinuouschange.

Second-order change (Transformational Change): In this change the nature of the organization isfundamentally and substantially altered.Second order change goes by many different labels: transformational, revolutionary, radical, or discontinuous

change.OD programs are directed towards both first- and second-order change.

Organizational Climate: It is defined as peoples perceptions and attitudes about the organizationwhether

good or bad place to work, friendly or unfriendly, hardworking or easy-going and so forth.

Organizational Culture: It is defined as deep seated assumptions, values, beliefs that are enduring, oftenunconscious, and difficult to change.Changing culture is much more difficult than changing climate.

Recent trends in banking industry

Indian economic environment is witnessing path breaking reform measures. The financial sector, of which thebanking industry is the largest player, has also been undergoing a metamorphic change. Today the bankingindustry is stronger and capable of withstanding the pressures of competition. While internationally acceptedprudential norms have been adopted, with higher disclosures and transparency, Indian banking industry isgradually moving towards adopting the best practices in accounting, corporate governance and riskmanagement. Interest rates have been deregulated, while the rigour of directed lending is being progressively

reduced.

Today, we are having a fairly well developed banking system with different classes of banks publicsector banks, foreign banks, private sector banks both old and new generation, regional rural banks and co-operative banks with the Reserve Bank of India as the fountain Head of the system. In the banking field, therehas been an unprecedented growth and diversification of banking industry has been so stupendous that it has noparallel in the annals of banking anywhere in the world.

During the last 41 years since 1969, tremendous changes have taken place in the banking industry.

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The banks have shed their traditional functions and have been innovating, improving and coming outwith new types of the services to cater to the emerging needs of their customers.Massive branch expansion in the rural and underdeveloped areas, mobilization of savings and diversification ofcredit facilities to the either to neglected areas like small scale industrial sector, agricultural and other preferredareas like export sector etc. have resulted in the widening and deepening of the financial infrastructure andtransferred the fundamental character of class banking into mass banking.

There has been considerable innovation and diversification in the business of major commercial banks

Some of them have engaged in the areas of consumer credit, credit cards, merchant banking, leasing, mutualfunds etc. A few banks have already set up subsidiaries for merchant banking, leasing and mutual funds andmany more are in the process of doing so. Some banks have commenced factoring business.

THE INDIAN BANKING SECTOR

The history of Indian banking can be divided into three main phases.

Phase I (1786- 1969) - Initial phase of banking in India when many small banks were set upPhase II (1969- 1991) - Nationalization, regularization and growthPhase III (1991 onwards) - Liberalization and its aftermath

With the reforms in Phase III the Indian banking sector, as it stands today, is mature in supply, productrange and reach, with banks having clean, strong and transparent balance sheets. The major growth drivers areincrease in retail credit demand, proliferation of ATMs and debit-cards, decreasing NPAs due to Securitizationimproved macroeconomic conditions, diversification, interest rate spreads, and regulatory and policy changes(e.g. amendments to the Banking Regulation Act).

Certain trends like growing competition, product innovation and branding, focus on strengthening riskmanagement systems, emphasis on technology have emerged in the recent past. In addition, the impact of theBasel II norms is going to be expensive for Indian banks, with the need for additional capital requirement andcostly database creation and maintenance processes. Larger banks would have a relative advantage with the

incorporation of the norms.RECENT Technology

1) Electronic Payment Services E Cheques

Now-a-days we are hearing about e-governance, e-mail, e-commerce, e-tail etc. In the same manner, anew technology is being developed in US for introduction of e-cheque, which will eventually replace theconventional paper cheque. India, as harbinger to the introduction of e-cheque, the Negotiable Instruments Acthas already been amended to include; Truncated cheque and E-cheque instruments.

2) Real Time Gross Settlement (RTGS)

Real Time Gross Settlement system, introduced in India since March 2004, is a system through whichelectronics instructions can be given by banks to transfer funds from their account to the account of anotherbank. The RTGS system is maintained and operated by the RBI and provides a means of efficient and fasterfunds transfer among banks facilitating their financial operations. As the name suggests, funds transfer betweenbanks takes place on a Real Time' basis. Therefore, money can reach the beneficiary instantaneously and thebeneficiary's bank has the responsibility to credit the beneficiary's account within two hours.

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3) Electronic Funds Transfer (EFT)

Electronic Funds Transfer (EFT) is a system whereby anyone who wants to make payment to anotherperson/company etc. can approach his bank and make cash payment or give instructions/authorization totransfer funds directly from his own account to the bank account of the receiver/beneficiary. Complete detailssuch as the receiver's name, bank account number, account type (savings or current account), bank name, citybranch name etc. should be furnished to the bank at the time of requesting for such transfers so that the amount

reaches the beneficiaries' account correctly and faster. RBI is the service provider of EFT.

4) Electronic Clearing Service (ECS)

Electronic Clearing Service is a retail payment system that can be used to make bulk payments/receipts ofa similar nature especially where each individual payment is of a repetitive

nature and of relatively smaller amount. This facility is meant for companies and governmentdepartments to make/receive large volumes of payments rather than for funds transfers by individuals.

5) Automatic Teller Machine (ATM)

Automatic Teller Machine is the most popular devise in India, which enables the customers to withdrawtheir money 24 hours a day 7 days a week. It is a devise that allows customer who has an ATM card to performroutine banking transactions without interacting with a human teller. In addition to cash withdrawal, ATMs canbe used for payment of utility bills, funds transfer between accounts, deposit of cheques and cash into accounts,balance enquiry etc.

6) Point of Sale Terminal

Point of Sale Terminal is a computer terminal that is linked online to the computerized customerinformation files in a bank and magnetically encoded plastic transaction card that identifies the customer to thecomputer. During a transaction, the customer's account is debited and the retailer's account is credited by the

computer for the amount of purchase.

7) Tele Banking

Tele Banking facilitates the customer to do entire non-cash related banking on telephone. Under thisdevise Automatic Voice Recorder is used for simpler queries and transactions. For complicated queries andtransactions, manned phone terminals are used.

8) Electronic Data Interchange (EDI)

Electronic Data Interchange is the electronic exchange of business documents like purchase order,

invoices, shipping notices, receiving advices etc. in a standard, computer processed, universally accepted formatbetween trading partners. EDI can also be used to transmit financial information and payments in electronicform.

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IMPLICATIONS

The banks were quickly responded to the changes in the industry; especially the new generation banks. Thecontinuance of the trend has re-defined and re-engineered the banking operations as whole with morecustomization through leveraging technology. As technology makes banking convenient, customers can accessbanking services and do banking transactions any time and from any ware. The importance of physical branches

is going down.

CHALLENGES FACED BY BANKS

The major challenges faced by banks today are as to how to cope with competitive forces and strengthentheir balance sheet. Today, banks are groaning with burden of NPAs. It is rightly felt that these contaminated

debts, if not recovered, will eat into the very vitals of the banks. Another major anxiety before the bankingindustry is the high transaction cost of carrying Non Performing Assets in their books. The resolution of theNPA problem requires greater accountability on the part of the corporate, greater disclosure in the case ofdefaults, an efficient credit information sharing system and an appropriate legal framework pertaining to the

banking system so that court procedures can be streamlined and actual recoveries made within an acceptabletime frame. The banking industry cannot afford to sustain itself with such high levels of NPAs thus, lend, but

lent for a purpose and with a purpose ought to be the slogan for salvation.

The Indian banks are subject to tremendous pressures to perform as otherwise their very survival wouldbe at stake. Information technology (IT) plays an important role in the banking sector as it would not onlyensure smooth passage of interrelated transactions over the electric medium but will also facilitate complexfinancial product innovation and product development. The application of IT and e-banking is becoming theorder of the day with the banking system heading towards virtual banking.

As an extreme case of e-banking World Wide Banking (WWB) on the pattern of World Wide Web

(WWW) can be visualized. That means all banks would be interlinked and individual bank identity, as far as thecustomer is concerned, does not exist. There is no need to have large number of physical bank branchesextension counters. There is no need of person-to-person physical interaction or dealings. Customers would beable to do all their banking operations sitting in their offices or homes and operating through internet. Thiswould be the case of banking reaching the customers.

Banking landscape is changing very fast. Many new players with different muscle powers will enter themarket. The Reserve Bank in its bid to move towards the best international banking practices will furthersharpen the prudential norms and strengthen its supervisor mechanism. There will be more transparency anddisclosures. In the days to come, banks are expected to play a very useful role in the economic development andthe emerging market will provide ample business opportunities to harness. Human Resources Management is

assuming to be of greater importance. As banking in India will become more and more knowledge supported,human capital will emerge as the finest assets of the banking system. Ultimately banking is people and not justfigures.

India's banking sector has made rapid strides in reforming and aligning itself to the new competitivebusiness environment. Indian banking industry is the midst of an IT revolution. Technological infrastructure hasbecome an indispensable part of the reforms process in the banking system, with the gradual development ofsophisticated instruments and innovations in market practices.

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About The State Bank of India (SBI)

State Bank of India (SBI) is the largest banking and financial services company in India by revenue, assets

and market capitalization. It is a state-owned corporation with its headquarters in Mumbai, Maharashtra. As of

March 2012, it had assets of US$360 billion and 14,119 branches, including 173 foreign offices in 37 countries

across the globe. Including the branches that belong to its associate banks, SBI has 21,500 branches.

The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of

the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged

into the other two presidency banksBank of Calcutta and Bank of Bombayto form the Imperial Bank of

India, which in turn became the State Bank of India. The Government of India nationalized the Imperial Bank

of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In

2008, the government took over the stake held by the Reserve Bank of India. SBI has been ranked 285th in

the Fortune Global 500 rankings of the world's biggest corporations for the year 2012.

SBI provides a range of banking products through its vast network of branches in India and overseas, including

products aimed at non-resident Indians (NRIs). The State Bank Group has the largest banking branch network

in India. SBI has 14 local head offices situated at Chandigarh (Punjab & Haryana), Delhi, Lucknow (Uttar

Pradesh), Patna (Bihar), Kolkata (West Bengal), Guwahati (North East Circle), Bhubaneswar (Orissa),

Hyderabad (Andhra Pradesh), Chennai (Tamil Nadu), Trivandrum (Kerala), Bengaluru (Karnataka), Mumbai

(Maharashtra), Bhopal (Madhya Pradesh) & Ahmedabad (Gujarat) and 57 Zonal Offices that are located at

important cities throughout the country.

SBI is a regional banking behemoth and is one of the largest financial institutions in the world. It has a market

share among Indian commercial banks of about 20% in deposits and loans The State Bank of India is the 29th

most reputed company in the world according to Forbes. Also, SBI is the only bank featured in the coveted "top

10 brands of India" list in an annual survey conducted by Finance and The Economic Times in 2010.

The State Bank of India is the largest of the Big Four banks of India, along with ICICI Bank, Punjab National

Bank and HDFC Bankits main competitors.

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RESEARCH WORK

In order to analyze a particular problem research is the most important way of doing it. In research, we first find

out the problem then collect data that would be useful in analyzing it and finally analyze & interpret it

Analyzing a problem through research gives a more clear idea than just analyzing through observation. Through

observation the concrete or the real idea may not come up but through research work i.e. through step by step

analyzing the real picture comes up.

Research Problem:

To find out the Change Management in SBI.

Research Objective:

To find out the employees behavior about change in organization..Research Design:

This project is a descriptive research project.

I have chosen this so as to collect more information about each respondent. For my research total number ofrespondents is 10. I have chosen a small number so that deep information can be collected through it. Wholeanalysis and finding is based on the information provided by them.

Type of Data Collected:

The data collected is primary in nature. They were collected through a questionnaire which is attached in theannexure. This questionnaire is prepared to collect deep information about the change management by theemployees of SBI.

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ANALYSIS & FINDINGS

According to the questionnaire, in Q1- Are you satisfied with your current designation?

INTERPRETATION

It can be seen from the pie chart that approximately half of the portion is occupied by Yes. This makes it clear

that half of them prefer Yes means they are satisfied with their current designation else. After No, has the

second major portion. All of the rest occupy by dont know.

According to the questionnaire, in Q2- Do you think your skills and abilities are properly utilised in this organisation?

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Yes

50%

No

30%

Don't

Know

20%

Yes

90%

No

0%Don't

Know

10%


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INTERPRETATION

It can be seen from the pie chart that Maximum of the portion is occupied by Yes. This makes it clear that large

no. of employees think that they utilized their skill in the org.

According to the questionnaire, Q3- What are basic problem/ causes that hindered your performance in organisation?

INTERPRETATION

It can be seen from the pie chart that more than half of the portion is occupied by Any Change. This makes it

clear that basic problem/ causes that hindered their performance in organization by Any Change.

According to the questionnaire, Q4- Is there any group of people with whom you can perform well

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Supervisors

0%

Structure

10%

Salary

20%

Culture10%

Any Change

60%

Yes

40%

No

50%

Don't Know

10%


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INTERPRETATION

It can be seen from the pie chart that Half of the portion is occupied by No and small difference between Yes&

No. This makes it clear that large no. of employees think that they utilized their skill in the org.

According to the questionnaire,Q-5 Do you want to make any change in your organisational structure?

INTERPRETATION

Most of the employees dont want to change their Orgnisational structure they are satisfied with their curren

Orgnisational structure.

According to the questionnaire, in 6st

question

INTERPRETATION

Employees given Reason behind employees dont want to change is their Orgnisational structure because they

feel insecured. They feel their present structure was good according to them they dont want any changes.

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Yes

30%

No

60%

Don't

Know

10%


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According to the questionnaire, in Q7- What do you think change is necessary for organisational development?

INTERPRETATION

It can be seen from the pie chart that half of the portion is occupied by Yes. they think that change is necessary

for Orgnisational development.

According to the questionnaire, in Q-8 Do you like job rotations?

INTERPRETATION

It can be seen from the pie chart that Majority of the portion is occupied by No. they dont want change in theirjob shifts.

According to the questionnaire, Q9- Any change in organisation will affect your?

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Yes

50%

No

20%

Don't Know

30%

Yes

20%

No

80%

Don't Know

0%


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INTERPRETATION

In this question we find that the changes in orgnisation Salary and Motivation Factors affect positively but other

changes negatively impact their performances.

According to the questionnaire, Q10- Rank the following factor according to you-

INTERPRETATIONIn this question we find that most of the employees are more focus on reward, financial incentives and promotion but

they dont want to take higher Authority and responsibility.

Conclusion

On the basis of research we find that the most of the Employees in orgnisation resist changes in their orgnisation. As per

research done on the Employees of SBI we find that they dont want to posses any changes. Page No.15

30%

70%

Performance

Positive Negative

90%

10%

Salary

Positive Negative

70%

30%

Motivation

Positive Negative

70%

30%

0% 0%

Promtion

Rank 1

Rank 2

Rank 3

Rank 4

40%40%

0% 0%

Reward

Rank 1

Rank 2

Rank 3

Rank 4

10%

20%

50%

30%

Achievment

Rank 1

Rank 2

Rank 3

Rank 4

30%

60%

0%10%

HigherAuthority and

Responisiblities

Rank 1

Rank 2

Rank 3

60%0%

10%

10%

FinacialIncentives

Rank 1

Rank 2

Rank 3

Rank 4


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When that change are necessary for the Orgnisational effectiveness and performance and become competitive. That

time employees are accepts the change otherwise they resist the change. Motivation and Salary factors are impact

positively and they are highly graded reward incentives and promotion.

Referenceshttp://info.shine.com/Industry-Information/Finance-and-Banking/117.aspx

http://organizationdevelopment.wordpress.com/2008/08/10/fundamental-terminology-of-organization-development/

http://www.mbainfoline.com/Articles%20on%20Management/Recent%20Trends%20in%20Banking.htm

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http://info.shine.com/Industry-Information/Finance-and-Banking/117.aspxhttp://info.shine.com/Industry-Information/Finance-and-Banking/117.aspxhttp://organizationdevelopment.wordpress.com/2008/08/10/fundamental-terminology-of-organization-development/http://organizationdevelopment.wordpress.com/2008/08/10/fundamental-terminology-of-organization-development/http://www.mbainfoline.com/Articles%20on%20Management/Recent%20Trends%20in%20Banking.htmhttp://www.mbainfoline.com/Articles%20on%20Management/Recent%20Trends%20in%20Banking.htmhttp://www.mbainfoline.com/Articles%20on%20Management/Recent%20Trends%20in%20Banking.htmhttp://organizationdevelopment.wordpress.com/2008/08/10/fundamental-terminology-of-organization-development/http://info.shine.com/Industry-Information/Finance-and-Banking/117.aspx


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Annexure

-Questionnaire-

Q1- Are you satisfied with your current designation?

YES NO DONT KNOW

Q2- Do you think your skills and abilities are properly utilised in this organisation?

YES NO DONT KNOW

Q3- What are basic problem/ causes that hindered your performance in organisation?

Supervisors Structure Salary Culture Any change

Q4- Is there any group of people with whom you can perform well?

YES NO DONT KNOW

Q5- Do you want to make any change in your organisational structure?

YES NO DONT KNOW

Q6- IF not, then why?

Q7- What do you think change is necessary for organisational development?

YES NO DONT KNOW

Q8- Do you like job rotations?

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NO DONT KNOW

Q9- Any change in organisation will affect your?

Performance (Negatively / Positively) Salary (Negatively / Positively) Motivation ( Negatively / Positively)

Q10- Rank the following factor according to you-

Factor Rank (1 to 4) 1 is highest

Promotion Reward and recognition Achievement Higher authority and responsibility Financial Incentives

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Documents

Kamlesh Od