Banks this time are on a drive to hire engineering graduates on a large scale. The main drive behind this idea of banks has been the major focus that they are presently lending on acquisition and retaining of young customer base.
It has been estimated by the Institute for Development and Research in Banking Technology (IDRBT) around 10-20% of the total manpower of banks should comprise of technology graduates or engineers.
"Banks will need to focus on analytics to understand the life-time value of a customer and retaining them.
This can be done only by mapping of transactions by experts,'' Mr B. Sambamurthy, Director of the institute quoted in this regard.
"There are over 3,000 engineering colleges in Inida and it is estimated that 15 lakh engineering graduates are comming out of colleges every year. This is a valuable human resource at which banks have to look at,'' Mr Sambamurthy said.
Chairman of public sector lender, Mr M Narendra also commented that with increasing need of technology guided models of growth in the banking segment, the need of specialists in the technology domain is increasingly on a rise.