Research Publication - St. Joseph's College of Commerce

Research Publication 201
January 2008
Research Paper
On
The Role of women in banking: An

Indian Perspective
Sai Krishna Kumara Swamy

II B.com ‘D’
07D352
St. Josephs College of Commerce

(AUTONOMOUS)
Author: Sai Krishna KumaraSwamy Page 1

Research Publication, SJCC- 2010
# 163 Brigade Road, Bangalore 560011

INTRODUCTION
The antiquated Indian banking system has its roots in the nineteenth century. The
character and structure of the system has, however, changed substantially since 1969,
when the major banks were nationalized. Prior to nationalization, banking was
concentrated in urban areas. It was clear that a better banking system was needed to
promote the economic goals of the new Indian state. Rural markets for industrial goods
could not be developed so long as moneylenders, charging usurious rates of interest, were
the main source of rural credit. Moreover, the 'green revolution' depended on farmers
finding substantial sources of credit to pay for fertilizers and hybrid seeds.
Since the mid-1970s, there has been a spectacular growth in the spatial distribution of
bank branches and in the size of their deposits and advances. According to experts in
banking this transformation has no parallel anywhere in the world. After nationalization,
there was also a change in recruitment policy. For the first time, the doors of the banks
were opened to everyone, irrespective of family status, caste, community, religion or
gender. Recruitment was placed on a more systematic basis, with merit assessed by
aptitude tests conducted by an external agency in a relatively impartial manner
As the size of the banking sector increased, the industry became difficult to manage.
Computer technology offered a possible solution. In India, a small number of industrial
houses and a few educational, research and development institutions started using
computers in the early 1960s. During the late 1960s and 1970s, service-oriented
industries such as airlines, railways and insurance companies introduced computers to
2 Author: Sai Krishna KumaraSwamy

'improve their functioning' and 'to provide better customer service’. Banks in India did
not, however, introduce computers on a large scale because of the fear that these would
result in retrenchment and unemployment. For a long time Indian banks faced very little
competition and operated in a protected economy. Thus no long-term policy or
perspective for the banking sector was formulated: it was simply treated as part of the
public sector. This is now changing. Well-computerized foreign banks are beginning to
compete seriously with the nationalized banks. They aim at a profitable and wealthy part
of the market and, in contrast to the nationalized banks, do not recognize any social
responsibilities to small account holders or to a rural and semi-urban clientele. This has
necessitated the public sector banks to go in for a structural reformation – both in terms
of policies and people. Today, there are 19 nationalized banks in India, each trying to
outdo the other and also at the same time steadfast to protect the interests of the country
and the public sector banks. The State Bank of India and its associates, Canara Bank,
Bank of India, Oriental Bank of Commerce, Centurion Bank are a few remarkable banks
to name. They now bank upon their financial stability and reputation as a Government
sector bank to perform and appeal to the customers. They try to provide to the public
what the other private banks fail to give. Thus, capitalizing on the shortcomings of
private foreign banks. Our banks are trying to convert these threats into opportunities.
Thus the role of nationalized banks has increased manifold in the process of nation
building and converging the Indian economy with the global economy.

STATEMENT OF THE PROBLEM
The principal factor that propelled this study was the increasing importance of the
banking sector in the Indian economy and also the escalating contribution of women in
this sector.
The focus of the research is twofold. One is the analysis and appraisal of the contribution,
condition and the future of women in this sector. The other, ancillary to the study, is an
investigation into the causes and consequences of the infinitesimal number of women at
the Executive level in banks.
The Statement reads:
“An inquiry into the status, work conditions and role of women in the banking sector with
special focus on the cause and consequence of their petite participation at the executive
level.”
OBJECTIVES OF THE STUDY
1. To study the scenario of Indian banking sector
2. To analyze the role of women in the Indian banking sector
3. To discuss the work culture and work environment of women in banks
4. Elucidate the reasons for the poor participation of women at the executive levels
in banks
5. A study into the future of women in banking

SCOPE OF STUDY
• The discipline in which the study is conducted is Commerce and Industry, with
the topic being drawn from the banking sector. The main focus is however on the
role of women in Indian banks with special reference to public sector banks.
• The geographic scope of the study extends to the territorial boundaries of India
and predominantly the urban areas.
• The timescale of the study extends from the bank nationalization period i.e. 1961
to 2008.
RESEARCH METHODOLOGY
The research has been largely conducted on the basis of primary data collected during the
course of study.
The method of collecting data was telephonic interview, where the views and opinions of
the respondents were collected on a one to one basis.

DISCUSSIONS AND FINDINGS
FORAY OF WOMEN
The origin of women in the banking sector is a chronicle of fascination. The entry of
women in this field and their gradual promotion into other sectors of this industry is not
only a story of professional advancement, but also the tale of emancipation of the Indian
women - an emotional and psychological journey of the fairer sex. The earliest records of
women bankers can be traced back to the 1950s, when a nascent and independent India
embarked upon the task of nation building, of which banking is a very integral part. At
the urban level, women entered the banking sector out of their love for paper work.
Instinctively inclined towards clerical services and administration, they suited the needs
of these huge banks spread throughout the length and breadth of the country. They
worked as clerks and at tenders, who looked after the internal management and
administration of the bank branches.
At the rural level, women’s participation in banking and financial services originated at
home and self help groups. At the domestic level, women are known to be in house
economists unto whom the finances of the house were entrusted. With their astute sense
of money matters, they rightly managed large families with limited incomes.
Furthermore, locally organized self help groups mostly comprised of women and
functioned successfully generating mutual benefits to all the members. Thus banks
employed the skills of these women in their rural operations, thereby initiating women’s
participation in the industry.

As time went by, with the onset of women’s education and awareness programmes of the
Government, more and more employment opportunities sprang up for them in the
services sector. Owing to the nature of the work and accommodative timings, women
preferred the banking sector to other professions in the service industry. This marked the
entry of women into the Indian banking scenario, a gender revolution, which would
change the face of banking for good in the years to come.
ROLE OF WOMEN IN BANKING
Women have played a vital role in the development of Indian banking system over the
years. Their chief contribution is at the operational level – administration and frontline
paper job. It is not a rare sight to see a multitude of women sitting in neatly arranged
desks attending to the customers’ needs in our Indian banks. Thus it is pretty obvious that
a huge proportion of the female population in banks is serving at the clerical cadre. The
reason for such concentration at one particular level is the requirements and
responsibilities of the job. All that one requires to secure a bank job is a bachelor’s
degree from a recognized University and clear the Banker’s entrance exam. The functions
and responsibilities of a job at the clerical scale are minimal. Above all, the most
important factor to be taken note of is work timings. For most of our Indian women who
juggle family and career together, a 9 to 5 job is very accommodative and preferred by all
of them. Probably this is also one of the reasons why very few women opt for promotions
and climb the corporate ladder. Following is a chart showing the number of women
serving at the clerical scale over the years in various Indian public sector banks, asserting
my conviction that it is their most preferred rank in the banking sector.

Distribution of women in indian banks from 1969 to 2008
0.8
0.7
Percentage in decimals
0.6
0.5 Year
0.4 Number
0.3 Expon. (Number)
0.2
0.1
0
1 2 3 4 5
Decade
Given below is the chart showing percentage of women across various public sector
banks, as on 2008.
Bank wise distribution of women
60
50
40
Percentage
30 Women
20
10
0
State Bank of Canara Bank Bank of India Syndicate Corporation Dena Bank
India Bank Bank
Banks

It is evident from the graph that:
(i) The percentage of women has consistently increased from an average of 13%
in 1969 to around 47% in 2008
(ii) The pattern of women in the banking sector is more or less similar in all the
banks in the industry
The next focus is on the nature of work that women do at the clerical scale. From issuing
money sitting at the cash counter, receiving payments to updating passbooks and clearing
instruments, they undertake all responsibilities at the branch level. Their job includes a
host of activities including day beginning, data entry, managing customers at the counter
real time updating of records, reconciliations, paper work, regular visits to the
clearinghouses, The RBI, inter branch correspondence and ultimately performing day end
operations. One needs to know that the clerical rank in banks, though the lowest in terms
of professional cadre is certainly of prime importance for it constitutes nearly 65 % of the
bank’s work. Thus we can gather that women carry out most of the bank’s functionally
vital operations and this further corroborates the fact that women play an essential role in
Indian public sector banks.
Yet another area of work in banks that are mainly women oriented are the secretariats of
executives, wherein women hold the office of personal secretaries and assistants. In most
banks, one can unmistakably notice that women occupy most executives’ secretariats.
The prime reason for this yet again the clerical nature of work – maintaining diaries,

taking dictations, updating schedules, receiving guests and other authorities, planning
travel schedules and supervising bank correspondence. It is empirically proven that
women are admirable at handling such portfolios and hence every bank prefers a woman
to handle such affairs. Women’s aspirations for such work and their success rates have
been s high that they have invariably lead to an ‘off the record reservation’ of such
secretarial jobs for women. Nearly every third national bank’s secretarial operations are
principally handled by women.
A scrutiny of the remaining ranks in a bank at the divisional level leads us to observe that
women’s participation is considerably lesser than compared to the clerical level but
nevertheless adequate. At the level of officers of scale 1,2 and 3 we can see that many
women take up promotions and also shoulder the responsibility of running an individual
branch. However, when it comes to the designation of Chief Managers and Regional
Managers, women are a rare sighting for they often refuse to carry the burden of
supervising an entire zone or region. This often hinders their chances of reaching the
executive level and in a way saturates their professional advancement. The main reason
for women to decline such offers is the huge amount of responsibility, accountability,
untimely working hours and the huge level of physical and mental stress involved. To run
a region consisting of 100 branches and more puts the managerial personnel under a lot
of pressure, the pressure to perform and sustain profitability. Women, who often have to
attend to a family apart from working, refuse to take up such jobs that consume their time
and attention. As per bank records of various banks, the average number of women at the
divisional level would constitute about 4 to 7 % of the bank’s employees. Thus we notice

that the role of women in the divisional level at banks is small but considerably
unassuming.
And as far as the executive level in a bank goes, the participation of women is elfin. The
cause and consequence of the same are discussed later in this article.
The graph below shows the cadre wise participation of women in a public sector bank at
all levels of organization.
Cadre wise participation of women
Clerks
Officers
Divisional managers
Regional Managers
General Managers
Executives
Before concluding our study on the role of women in banks, we also need to make a
quick analysis of the department wise involvement of women in bank. This not only
helps us to infer the quality of work done by women but also speaks of female
psychology and their propensity to do all sorts of work. A bank is usually divided into
various departments to function as independent units so that there is a division of work
and smooth functioning of the bank throughout the country. Some of the foremost

departments would be the Dept. of Planning, Dept. of Credit and Recoveries, Dept. of
Vigilance, Dept. of Administration, Dept. of Legal and Corporate Affairs, Dept. of
Information Technology etc and only those who have taken up promotions and entered
the divisional cadre are eligible to shoulder responsibilities of these departments. So the
scope of this analysis is restricted to only those women who serve at divisional levels in
the organization. Empirical evidence suggests that women often prefer Departments
whose activities are supplementary or incidental to core banking functions. This suggests
that women prefer doing that kind of work which suits them or which they are already
equipped to do rather than taking up challenging tasks that require high degree of
professional commitment and dedication. The palpable rationale behind this is that
women are more inclined towards their family than their careers. Work for them is just a
means of livelihood, a source of income. They only incentive they seek are monetary
rewards and not professional satisfaction. Not that they are not capable of or not
interested in their career’s advancement, but their commitment towards their family in
terms of time and energy does not permit them to seek professional contentment.
Let us take for instance the Dept. of Information Technology. After the recent
developments in this sector, banks have introduced the concepts of nodal officers. Each
nodal officer is an officer from the Dept. of Information Technology, who is assigned a
number of branches in a given area. This can easily vary from 5 to 50 or sometimes even
more. The job of each nodal officer is to ensure the efficiency of information systems at
the branch level. It includes trouble shooting and software upgradation on a timely basis.
Consequently, this involves regular visits to each branch in the allotted region. Given the

nature and requirements of the work, very few women have opted for this since inception.
The same goes with the Dept of Credit and Recovery, which involves a lot of physical
and mental stress and exertion.
Thus we find that a large portion of the female population in a bank is directed towards
subsidiary functions in administrative departments. The apparent favorite amongst
women is the Dept. of Planning and Development, which is usually the creative think
tank of the organization. Time and again, women have proved be successful in this
department that exploits their creativity and intellect. They have also shown their aptitude
at working in the Dept. of General Administration, Dept. of premises& Maintenance,
Personnel Dept. However, the Dept of Recovery, Dept. of Risk Management and Dept.
of Treasury and international banking clearly continue to remain a man’s world. So, it
would be apposite to construe that as far as Indian public sector banks go, women choose
to perform auxiliary functions over core banking functions. The below given chart shall
pictorially elucidate the aforementioned.
Department wise distribution of women

1%
1%
5% Corporate Credit Division
5%
13% Retail banking
Planning & Development
22%
Recoveries
Information Technology
Priority sector credit
General Administration
6%
31% Personnel
Inspection
11%
5% Risk Management

WORK CULTURE AND ENVIRONMENT
After having analyzed the origin of women in the banking sector and the role they play,
we shall now study the work conditions of women in banks. Before we proceed we need
to take note of one very important factor that regulates the work culture of women in
Indian banks. Culturally rich as it is, India does give special attention to the welfare of
women. Extending the constitutional provisions for women’s welfare, banks, at all
possible places try to protect the interests of women. So much so that this goes beyond
the bank’s rulebook, wherein numerous personal considerations are given to women in
many aspects concerning their job. Thus, the work culture of women is largely influenced
by socio- cultural factors than organizational conventions.
Today, the face of banking in India is rapidly developing and has changed a lot since the
days of nationalization. With the onset of globalization and privatization, bankers have to
constantly be on their heels. At this juncture of development, especially in a mixed
economy like India, which seeks to strike a balance between capitalism and socialism,
banks need to put in additional efforts to sustain themselves profitably. Consequently, the
gender distinction in banks has started to fade. Women are no longer looked upon as the
fairer sex or the weaker sex but have been urged to participate in the bank’s activities at
all levels. Women are increasingly being given portfolios that were earlier handled by
men. It is no longer a rare sight to see women working until late night in their offices and
shouldering responsibilities beyond their capabilities. Shortage of manpower and industry
demands have forced employees to take up multiple portfolios at the same time, women

being no exception. Also, monetary incentives have driven women to take up promotions
alongside which they assume huge amount of accountability and responsibility.
Consequently, the work environment of women is no longer secure but all the more
competitive. The first major constraint they face is longer working hours. With concepts
such as 8 to 8 banking and more number of women in core banking departments, their
work timings easily stretch from 9 to 12 hours a day. And during crucial periods such as
quarter end balance sheet preparation and audit, they virtually spend the whole day at
work. This has caused a lot of inconvenience for women as it eats away into the already
limited time they have for their family. Laments Ms. Sujatha of Bank of Baroda, ‘the
concept of 8 to 8 banking has increased our working hours beyond 10 hours a day. What
the public fails to realize is that we have a lot of work in the branch after business hours.
If we transact for 12 hours a day, all other branch work gets disrupted for one day’s work
gets carried over to the next day’. Suggest her about introducing the concept of shifts she
quickly retorts ‘given the level of pay and requirements of the job, no one is ready to
enter this industry. Nothing can be done unless we raise our pay scales’. Thus it is pretty
clear that women are uncomfortable with their work timings.
Their next major problem as regards their work conditions is the concept of transfers and
deployments. Though individual to every bank in respect of tenure and domicile, women
often find transfers daunting. The greatest setback for women is their inability to relocate
their family or stay away from home for tenure of 4 to 5 years. Hence they avoid
promotions which are mostly accompanies by transfers. Even in case of general transfers,

women often are unwilling to accept them and if their successive appeals are unheard,
they sometimes resort to resignation. This not only makes the possibility of their
promotions bleak, but also robs them of valuable banking experience. However, certain
banks are very particular as regards their transfer policies and they have no special
considerations in case of transfers for women. This puts them at the disadvantageous end
of the bargain. Ms. Swarnalatha of Canara Bank says, ‘The management needs to realize
that unlike men, women cannot easily detach themselves from familial duties and take up
transfers. Even intra city transfers are manageable but interstate transfers, especially to
the north makes it impossible for us to commute between our hometown and work place.’
Many women brush aside talks of equality and job satsisfacton, claiming that family is
their prior concern and they will at no cost whatsoever trade off personal benefits for
professional benefits.
Digging deeper into the labyrinths of bank management, we are forced to believe that in
many banks, especially in the rural and semi rural branches male hegemony continues to
be in practice. This puts women in a vulnerable situation where they are neither given
equal opportunities nor are their interests protected. In these cases, women often work
under constant fear of their male counterparts. Though dubious in veracity, we are told
that women face constant threat to their modesty and security in the male dominated rural
branches of many banks. Says a source who does not wish to be named, ‘the condition of
women employees here are pitiable. We are controlled by men at every place possible –
we are told what to do, how to do and when to do. We cannot do anything beyond what
they tell us to do. If anyone of us even contemplates complaining to the management, our

security is at stake. We are helpless.’ Thus it is clear that women, at least a certain section
of them do face threats to their sovereignty at public sector banks. However, one cannot
generalize this view for it is unqualified and unendorsed by many a person.
Nevertheless, one has to accept that women do enjoy their work in the banking sector.
Problems and Crises are part and package of every profession and are aptly called
professional hazards. Women seem to have imbibed this ideology and have successfully
proved themselves in their careers. Another interesting discovery of mine after my
interaction with a few women is that some of them consider work as a place of haven –
away from the quarrels and worries of their family. Consequently many women look at
work as a means of engagement of their thoughts, away from their domestic troubles and
are thus very happy to work. This is a win-win situation for the employee reaps the
benefit for personal satisfaction and the bank reaps the benefit of professional satisfaction
in the form of high employee morale and profitability. Despite all hurdles and
inconveniences, women seem to take pleasure in the nature of their work. In a survey of
about 25 working women as regards their job satisfaction, following were the results that
substantiate the above said.
Job satisfaction of w om en
12
10
Number of women
8
6 Women
4
2
0
Very Satisfied Satisfied Not satisfied Neutral
Job Satisfaction

Surprisingly, my interaction with a lady employee of a private bank gives a totally
different picture of their work culture as compared to the nationalized banks. In
pursuance of their lofty HR practices and fair practice code, private banks take all efforts
to ensure the security, solidarity and success of women working with them. Creation of
women’s cell, women’s only branch and free counseling are few of the numerous efforts
undertaken by these private players to ensure women’s empowerment. Whether they do it
genuinely or as a strategy to create a better public image is immaterial to us, for as long
as they are doing something good for women, we have no reason to complain. Going by
what our source describes, women are given equal opportunities in all levels of the
organization. They are constantly encouraged to take up challenging assignments and
give their valuable contributions. Even in case of transfers and promotions, women’s
concerns are kept in mind and accommodative measures are taken. Thus women at
private banks feel more secure and comfortable for there they are guaranteed equality of
professional opportunities and incentives.
WOMEN AND THE BOARDROOM
Coming to a very special feature of this research article, I have tried to investigate as to
why women always elude the Boardroom. Is it their fault or is the management to blame?
When can we see women at the helm of affairs? It is a known fact that since
nationalization, very few women have climbed the corporate ladder and occupied
executive positions in banks. I asked myself these questions at the beginning of my study
- Is it really so that banking is a man’s world? Why are women not seen at the top – are
they incapable or are they just not interested?

The answer to these questions is as intricate and complex as the questions themselves.
One needs to know that a lot of parameters are involved and a lot of brainstorming goes
into selecting the executive members of a bank. Being a public financial institution
dealing with public money, the executives are required to be highly proficient,
experienced and accountable. Thus their appointments make national news, so much so
that the Ministry of Finance directly concerns itself and looks into their appointments.
Given the importance of the position and responsibility of the job, why is it so that very
few women reach the top? The answer is simple – personal and psychological factors
deter women from thinking big and consequently making it big in a bank. The journey to
the top begins at the clerical level and the person’s track records during his or her tenure
at the bank are scrutinized carefully. One needs to have an excellent track record – of
having served in all types of branches (rural and urban) and all departments (core banking
and auxiliary). Most importantly, one needs to take up promotional exams and move up
the scales and ranks to enter the ever-envied corner room of the bank. As has already
been discussed earlier, women fail to take up promotional exams owing to the fear of
transfers and subsequent tensions. This impairs their chances of reaching the top, as it is
impossible to enter the boardroom with mere clerical service. Says Mr. Kumara Swamy
of Corporation Bank, “an executive member of the bank is selected after many rounds of
discussion and profound consideration. The gender of the candidate is immaterial as long
as the right person is chosen for the right post at the right time. Nevertheless, I am both
curious and optimistic of a lady chairman in the near future.” Thus it is clear that the
management of bank are indifferent towards the gender of the candidate, which means
women have an equal chance of entering the boardroom as much as men. It is up to the

women to have a successful track record and prove their mettle to the management and
occupy the coveted seat.
Moreover, women face the pull from personal factors such as family and health
problems. Many women bankers jump to the conclusion of resignation in the event of
domestic strife, failing to realize that such hesitant decisions affect their professional life.
There also certain section of women who quit their job once their spouse is in a well of
position or their children start earning. Some ladies also claim to have ‘given up
everything to be with their children and family’. However sweet these claims may sound,
these are certainly one of the prime factors responsible for the waiflike participation of
women at the executive level. ‘This is nothing but female psychology’ says Ms. Deepa of
ICICI Bank. ‘We women are definitely strong and are capable of doing every job that a
man does but it is also true that we are emotionally bound to our family than our
husbands. A man would never quit his job or give up his professional ambitions for his
family but a woman would. We may lose out on quite a number of things but we are
definitely happy to give them all up for simple pleasures of life.’ Thus it is pretty
unambiguous that working women value their personal lives more than their careers and
often give up the latter for the former. Thus it is no mystery to see such few women at the
executive levels in banks.
Coming to the health aspect, the average age of reaching the executive level in a bank is
the mid forties. Coincidentally, women enter their menopausal stage at more or less the
same time. Bogged down by the varied symptoms of reaching middle age, women are

often both physically and mentally weak. Such weakness dissuades them from taking on
demanding assignments and resultantly, they loose out on their chances to occupy senior
positions. Says Dr. Arundathi, leading gynaecologist “Working women inevitably
confront menopausal problems that pose a serious threat to their health if left unattended.
During such times, it is very arduous for them to juggle family, personal health and work.
More than medical attention, they need psychological and emotional support from family
members and people at work place. However, there are certain women who have coped
up with all of these problems and have made it big in their careers.” Thus health
concerns are also one of the prime reasons that discourage women from taking up
promotions that act as a passport to the boardroom.
However, there are certain women who refuse to accept defeat and believe that they can
make it to the top with determination and dedication. Rubbishing claims that woman are
incapable of running a bank, Ms. Vijaya Kumara Swamy, frontrunner to the Boardroom
at SyndicateBank quotes, ‘Indians choose to believe that being a woman is the greatest
disadvantage. On the contrary, I think every working woman must stand up for herself
and prove to the world that they are wrong. As women, we may be bound by a lot of
personal and professional attachments that retard our career’s growth, but I believe that a
woman is gifted enough to transcend all these barriers and build a successful career and
family. The crux of the problem lies in low self-confidence. Unless every woman
believes in her capabilities she cannot reach where she aspires to be.’ And as she signs
off, she gives me this really interesting quote “If you think you cant you have lost”. So
here we get to see the other face of lady bankers, messiahs of feminism, who think that a

woman can overcome all her disadvantages with ease if she believes in herself. As we
conclude this segment, we have a graph below citing various reasons as to why women
do not make it to the executive levels in banks:
Reasons for w om en eluding the Boardroom
Family commitments
Health concerns
Huge Responsibilities
Management Bias
Not interested
I cant do it
THE ROAD AHEAD
The future of Indian women bankers is certainly bright as the year begins on a light note -
with the news of the industry being Ms. Chanda Kochhar taking over as the Managing
Director of India’s largest private bank, ICICI Bank. Nothing else is as reassuring and
encouraging for women as the news of a woman running the country’s largest private
bank. Even the Government of India seems to endorse women’s empowerment with the
appointment of Ms. Usha Thorat and Ms. Shyamala Gopinath as deputy governors of the
esteem Reserve Bank of India. The current breed of bankers seems optimistic about
women’s participation at all levels in the banking sector. Banks are doing all that is
possible within their individual and collective capacities to augment the role of women in
the industry.

The first step taken in this endeavour is the obliteration of the gender bias as regards the
work delegated in the banks. Today, women are employed in all departments, whether
core banking or auxiliary. They are also expected to stay back long hours, assume
responsibilities, travel between places as and when required. They are treated at par with
men at every place possible without compromising on their security and interests. Says
Ms. Manjula of SyndicateBank who works in the Dept. of Information Technology, ‘at
the divisional level, there are more women in our department than there are men. It is a
symbol of our success and representation. Women efficiently manage one of the most
important departments in our bank. It is a matter of pride for us.’ Thus women are being
trained in all spheres of work at banks.
Banks are also considering the provision of additional non-monetary incentives for
women who take up promotional exams and transfers. This not only helps in women’s
empowerment but also ensures proportional representation of women at the directorial
cadre. Mr. Raja Raman of Yes Bank explains, ‘We at Yes bank value the contribution of
our female staff and have great belief in their capabilities. To increase the number of
women opting for higher ranks in the bank, we are devising a strategy that can
economically provide them with supplementary rewards and benefits. We are also trying
to alleviate the problem of transfers and deployment by trying to introduce localized
administration.’ Thus it is evident that banks are trying to promote women’s participation
at higher levels in the organization.

And as far as the future of women honchos in banks go, all that one can say is that
banking is no longer a man’s world. Women are welcome into the boardroom as long as
they conform to all requirements of the job. Translating the same into reality, we have
Ms. H A Daruwalla leading Central Bank of India, Ms. Ranjana Kumar assuming the
post of Vigilance commissioner at the Vigilance commission and Ms. Manisha Girotra
being appointed as Chairperson of UBS Warburg, India. As of 2008, we have nearly 45
women occupying top spots in Indian banks, which clearly indicate the possibility of a
bright future for women in the banking sector. As I conclude, here is what Ms. Chanda
Kochhar had to say, on her appointment as the MD of ICICI Bank, ‘Women can deal
with any issue of life on the basis of equality and they need no special privileges. They
can perform whatever task given to them with efficiency and responsibility.’ Ask her
about her secret formula for success she candidly says, ‘ Whenever there is a challenge, I
see an opportunity’. Wishing her all success in this endeavour, I would like to wrap up by
quoting “It does not matter how much you want, all that matters is how much you want
it”.
FINDINGS
Enlisted below are the principal findings of my research:
(i) Since inception, women have been an integral part of the Indian Banking
system. However, their role in the industry has changed over time from being
support staff to executives.
(ii) Despite empirical evidence suggesting that women excel in secretarial and
clerical work, they have proved the world wrong by assuming gargantuan

responsibilities in the fields of treasury and risk management, core banking,
corporate finance and insurance.
(iii) A majority of the women serve at the clerical cadre in banks and prefer it to
other ranks owing to flexible timings and nature of work. They also fancy
working in administrative departments than serving in departments involving
core-banking functions.
(iv) As regards the work conditions, women offer two views that are diametrically
different in nature. While one set of ladies claim that they work under a lot of
physical and mental pressure there is a group of women who assert that they
enjoy working in an environment that challenges their genius.
(v) Women refuse to take up promotional exams and shape their careers owing to
various personal and professional reasons and are thus deterred from reaching
the top positions in the banks.
(vi) The current industry scenario indicates that gender bias in banks is fading
rapidly and women are performing at par with men, handling diverse
portfolios and confronting the instabilities in their work environment with
élan.
(vii) Lastly, bankers from the industry are very optimistic about women stepping
into the Bank’s Boardroom and taking charge of its affairs in greater numbers
than before.

CONCLUSION
Coming to the closing segment of the research paper, it is time we draw conclusions. The
Indian banking sector is in one of its finest phases ever since inception, for its role in
propelling India to be an economic superpower by 2050 is all the more important like
never before. India’s bankers are at the peak of their professional glory and their
involvement in India’s success story is ever mounting. However, in this rat race, women
are not to be left out. Women have, are and will contribute a lot to the Indian banking
industry. Be it at whatever level professionally, their input has always been valuable and
essential in the bank’s administration. Today, women are increasingly taking over
professionally challenging and tasking portfolios that add value and experience to their
careers. The work environment and conditions in banks are most conducive for the ideal
Indian woman who juggles a family and career simultaneously. Such accommodative
features of this industry magnetize more and more women and consequently their
numbers are increasing in the industry. Also, bankers in the industry are very optimistic
about women reaching executive levels in the bank provided they work towards it with
determination and devotion. Thus, in the years to come, it would no longer be a rarity to
see women occupying key positions in banks. Lastly, as a word to all female bankers who
aspire to taste professional success by climbing the corporate ladder, here is my personal
word of advice, “Success knows no gender – all that counts is the desire to dream big and
the dedication to work towards.”

BIBLIOGRAPHY
I thank the following persons for their immense contribution towards this research:
Mr. Kumara Swamy K
Ms. Vijaya Kumara Swamy
Ms. Chanda Kochhar
Ms. Sujatha
Ms. Swarnalatha
Ms. Deepa
Ms. Manjula
Dr. Arundathi
Mr. Raja Raman
Notes
1. All graphs and pictorial representations are based on the data collected from a
survey of 25 women bankers from a cross section of the industry
2. Numerical calculations and approximations have been made where necessary
3. The views endorsed by the participants of the study are purely personal and may
not conform to the view of the bank.
**********


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Research Publication 201

The Role of women in banking: An

Sai Krishna Kumara Swamy

St. Josephs College of Commerce

Author: Sai Krishna KumaraSwamy Page 1

# 163 Brigade Road, Bangalore 560011

were opened to everyone, irrespective of family status, caste, community, religion or

aptitude tests conducted by an external agency in a relatively impartial manner

Computer technology offered a possible solution. In India, a small number of industrial

industries such as airlines, railways and insurance companies introduced computers to

2 Author: Sai Krishna KumaraSwamy

competition and operated in a protected economy. Thus no long-term policy or

3 Author: Sai Krishna KumaraSwamy

STATEMENT OF THE PROBLEM

the Executive level in banks.

The Statement reads:

OBJECTIVES OF THE STUDY

1. To study the scenario of Indian banking sector

2. To analyze the role of women in the Indian banking sector

3. To discuss the work culture and work environment of women in banks

5. A study into the future of women in banking

4 Author: Sai Krishna KumaraSwamy

and predominantly the urban areas.

the respondents were collected on a one to one basis.

5 Author: Sai Krishna KumaraSwamy

DISCUSSIONS AND FINDINGS

administration of the bank branches.

participation in the industry.

6 Author: Sai Krishna KumaraSwamy

change the face of banking for good in the years to come.

ROLE OF WOMEN IN BANKING

my conviction that it is their most preferred rank in the banking sector.

7 Author: Sai Krishna KumaraSwamy

Distribution of women in indian banks from 1969 to 2008

Bank wise distribution of women

8 Author: Sai Krishna KumaraSwamy

It is evident from the graph that:

in 1969 to around 47% in 2008

banks in the industry

of professional cadre is certainly of prime importance for it constitutes nearly 65 % of the

Indian public sector banks.

9 Author: Sai Krishna KumaraSwamy

travel schedules and supervising bank correspondence. It is empirically proven that

principally handled by women.

10 Author: Sai Krishna KumaraSwamy

all levels of organization.

Cadre wise participation of women

various departments to function as independent units so that there is a division of work

11 Author: Sai Krishna KumaraSwamy

Vigilance, Dept. of Administration, Dept. of Legal and Corporate Affairs, Dept. of

12 Author: Sai Krishna KumaraSwamy

and mental stress and exertion.

subsidiary functions in administrative departments. The apparent favorite amongst

at working in the Dept. of General Administration, Dept. of premises& Maintenance,

pictorially elucidate the aforementioned.

Department wise distribution of women

13 Author: Sai Krishna KumaraSwamy

WORK CULTURE AND ENVIRONMENT

by socio- cultural factors than organizational conventions.

constantly be on their heels. At this juncture of development, especially in a mixed

shouldering responsibilities beyond their capabilities. Shortage of manpower and industry

14 Author: Sai Krishna KumaraSwamy

alongside which they assume huge amount of accountability and responsibility.

clear that women are uncomfortable with their work timings.

Research Publication - St. Joseph's College of Commerce

Research Publication - St. Joseph's College of Commerce