Currently the PAS makes no meaningful distinction between individuals for identifying or deploying talent, skills and / or specialisation; nor does it guide determining compensation. The system needs reshaping so as to serve as the mainstay for evaluating employees’ performance, assessing compensation and developing leadership.
d. Fourthly, the Public Sector Banks (PSBs) have hardly any meaningful participation in the financial markets, i.e in the BCD instruments. This restricts / curtails the financial market development. A selected set of foreign banks and the new Private Sector Banks dominate the financial markets in India. PSBs need to engage proactively, especially, in the derivative instruments for hedging their risks.