In a strategic move to enhance leadership capabilities in the Indian banking and financial services sector, the Centre for Advanced Financial Research and Learning (CAFRAL) has collaborated with Catallyst Executive Education Institute (CEEI). This collaboration between CAFRAL, an autonomous body established by the Reserve Bank of India (RBI), plays a pivotal role in advancing research and Learning and Development in the banking and finance domain, and CEEI, an outcome-driven leadership development institute, is the first of its kind focussed on developing in high impact leadership pipeline in the financial sector in India. The program has been designed and developed under the visionary leadership of Smt. Indrani Banerjee, Additional Director of CAFRAL and Prof. Rajnish Dass, Managing Director of CEEI.
The CAFRAL – CEEI Financial Sector Leadership Program is well-aligned with the latest vision articulated by the Finance Minister and Prime Minister, emphasising the transformative direction of India’s banking and financial services. Prime Minister Narendra Modi envisions India emerging as one of the world’s top three economies, emphasising the strength of the economic and banking systems. The Prime Minister, during his address on ‘Enhancing Efficiency of Financial Services for Creating Growth Opportunities,’ emphasises the resilience of India’s institutions in the face of global crises. Finance Minister Nirmala Sitharaman, in urging regional rural banks to enhance digital banking, highlighted the significance of Digital Banking Units (DBUs) in promoting financial inclusion and digital literacy. Her emphasis on boosting the formalisation of the economy through digital measures underscores the importance of evolving leadership in the BFSI sector.
In resonance with this vision, the program recognizes the imminent changes in the Indian financial sector in 2024, including the appointment of new CEOs for banks and NBFCs, along with a revamped monetary policy committee at the RBI. In response to the Finance Minister’s push for digital upgrades, the program places a strong emphasis on developing critical leadership competencies, acknowledging the necessity for agile and visionary leaders to navigate the ever-evolving financial landscape. This initiative stands as a testament to the commitment of fostering leadership that not only aligns with the latest government vision but also actively contributes to the growth and resilience of the financial sector in India.
The CAFRAL-CEEI competency framework is a groundbreaking initiative designed to create a robust leadership pool within the sector catering to the need of creating a strong leadership pipeline for players in this sector. Focused on two critical aspects – strategic planning and strategic execution – the framework encompasses competencies essential for navigating the complex landscape of Indian banking and finance. Under Strategic Planning, leaders are equipped with a Strategic Mindset, Customer Centricity, Digital Smartness, and Innovation Acumen. Meanwhile, Strategic Execution is honed through competencies such as Adaptability, Collaboration, Risk Intelligence, and Execution Excellence.
This initiative represents a joint endeavour by CAFRAL and CEEI to introduce a leadership development program that transcends conventional approaches. Participants will undergo intensive training but will also engage in rigorous online coaching and mentoring for real-life problems that they would pick up as high-impact areas to address. The uniqueness lies in the strategic initiatives participants will develop for their respective organisations, presenting them in front of a top-level industry panel created by CAFRAL and CEEI.
The program is distinctive not only for its comprehensive curriculum but also for being the first-of-its-kind collaboration between RBI’s CAFRAL and a leading executive education firm, CEEI. The Reserve Bank of India’s commitment to building a robust leadership pipeline is evident in this initiative, especially given the recent decisions regarding leadership appointments in various financial institutions.
The program’s holistic curriculum covers critical topics, including Leadership Competencies, Macroeconomic and Banking Policy Landscape, Digital Business Models and Transformation, Strategic Mindset & Execution Excellence, Risk Intelligence, Customer Centricity, Fostering Innovation, Importance of Collaborative Leadership for Driving Change, and Governance Challenges. Participants will engage in hands-on simulative experiences, such as Mentored Action Learning Projects and Group Leadership Coaching, culminating in the creation of Individual Learning Plans.
The program includes a thorough Leadership Competency Assessment, offering participants a deep understanding of their capabilities through presentation sessions, personality mapping, and debriefing.
This program is tailored for professionals across various echelons of the financial sector, including middle management, senior leaders, and emerging leaders within Regulatory Institutions, Banks, Financial Institutions, and Non-Banking Financial Companies (NBFCs). The program is meticulously designed to endow participants with a versatile skill set that precisely aligns with the dynamic demands of the sector as it continues to evolve.
Joining this transformative initiative are distinguished figures such as M. Rajeshwar Rao, Deputy Governor of the Reserve Bank of India (RBI), Dr. T. T. Ram Mohan, Economic Advisory Council to the Prime Minister, Dr. Ravindra H. Dholakia, Member of the RBI Board, and many more contributing to a program designed to shape the future leadership landscape in Regulatory Institutions, Banks, Financial Institutions, and NBFCs. This strategic collaboration, a testament to RBI’s commitment to fostering excellence, marks a pivotal milestone in leadership development within the financial sector.
