A Reserve Bank of India (RBI) panel has recommended that banks should plan for their talent and leadership requirements strategically over the long term for five to 10 years.

Some of the measures suggested include conducting annual tests for officers to evaluate their training absorption skills, lateral hiring in state-run lenders, adoption of formal standard and structured training programmes, and adoption of a common Banking Aptitude Test at entry levels.

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The committee report highlighted that the industry growth can be fostered through improvement of various institutions such as the National Institute of Bank Management, mentoring the top management, putting in place rigorous induction programmes.

At the same time, the committee felt that a new post of chief learning officer should be created to enhance leadership development and collaborative learning across the organization.

The committee has stressed on the need for banks and NBFCs to strategically plan talent and leadership requirements for the long term, implement a policy to deal with attrition risk and skill gaps.

The report said that identifying critical roles across the organization is necessary to make proper succession planning, and random transfers should be phased out.

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MV Tanksale, chief executive of lobby group Indian Banks’ Association, said: "The banking industry is moving from Caveat emptor (buyer beware) to caveat venditor (seller beware). This puts the onus on the banker to serve the customer well and therefore they need a different type of orientation."