The Reserve Bank of India will adopt a common recruitment system from next year to tap talent for its core functions. The larger objective is to strengthen itself in the changing economic scenario.

“Starting from 2015, there shall be common recruitment for all core functions of the bank,” the RBI said in an internal report on HR initiatives.

At present, it recruits officers and support staff for core and non-core functions through different examinations, such as the Grade ‘B’ officers level exam. The RBI now has about 17,000 employees.

The proposed common recruitment will not only cover traditional areas such as economics and statistics but also include niche skills, such as risk management, financial markets trading, accounting, legal, human resources management and counselling.

The officers that are recruited will have a common seniority. In effect, it will be like the common cadre under the All India Services of the Union Public Service Commission.

The Reserve Bank Services Board hopes to complete the entire recruitment cycle within three to four months.

Assessment centre

By December, an assessment centre will be in place to evaluate the actual/potential performance of an officer. “We do need to engage external consultants,” the RBI said.

The apex bank may disassociate itself from functions such as debt management and micro management of sector lending, among others.

The focus on forensic audits, on-tap bank licensing, differentiated bank licensing, enforcement, IT systems and risk modelling will increase.

As part of the restructuring initiatives, an amendment to the existing RBI Act is on the anvil to create additional positions in top management.

New units such as a market intelligence division and departments for corporate services and corporate strategy are also in the offing.

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