Performance Measurement Systems in Indian Banking Sector
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The liberalization and globalization of Indian economy brought substantial changes in the level of competition, business environment, managing strategies and advanced technology front. The transformed banking sector is also one of the important player of the Indian growth story. In an era of rapid change, the necessity of effectively executing strategy has become crucial. With this background,it is interesting to see how the banks have performed and what their parameters of the performance measurement are? There has been growing criticism of financial measures in the PMS in the post-reform era...
The liberalization and globalization of Indian economy brought substantial changes in the level of competition, business environment, managing strategies and advanced technology front. The transformed banking sector is also one of the important player of the Indian growth story. In an era of rapid change, the necessity of effectively executing strategy has become crucial. With this background,it is interesting to see how the banks have performed and what their parameters of the performance measurement are? There has been growing criticism of financial measures in the PMS in the post-reform era in India as they are historic in nature and lack futuristic outlook. No longer, financial measures of PMS are enough to survive, sustain and grow in the globalized competitive environment; banks have to invest in intangibles. In this backdrop, there is an urgent need to have a measurement system that balances the financial numbers with today's drivers of economic success. The book highlights that how the Indian banking industry have been trying to adopt and adjust themselves to improve their Performance Measurement Systems in the changing socio-economic and global environment.
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