Banking and financial sector has been one of the most lucrative working sectors for the young minds of Nepal. This has been the major reason why so many young minds are today involving themselves in management education sector. However, today there arises a great question whether the quality of Management education which is being provided in the country matches what is being demanded by the financial sector.
In an interview with Glocal Khabar, CEO of Nabil Bank Limited, Anil Keshari Shah shares his insights.
Glocal Khabar: You have been the President of Nepal Bankers Association and being in the position do you think the educational sector and financial sector of Nepal are integrated today?
Mr. Shah: There are a few educational and banking institutions which have tried to integrate with each other to produce better results but there still remains a huge gap which needs to be fulfilled because any sector is as good as it’s people are. Lack of integration between these two sectors has given birth to unemployable people with degrees and this needs to be rectified as our financial sector requires employable people with skills. This integration should occur in the near future if we want to see bright future of the young minds involved in education related to management sector.
Glocal Khabar: Earlier, a large group of people used to join financial sector because of the monetary benefits that this sector provided. Do you think is still the reason why many people are attracted towards the banking sector education?
Mr. Shah: Earlier, money used to be the only motivator for people joining the banking sector but today money is one of the motivators why people are attracted towards the banking sector. People today are attracted towards the banking sector because of the professionalism, transparency and independence it provides. People believe they will not have to butter someone else for development in this sector and hence they look forward to becoming a part of this sector which tends to prioritize work over anything else.
Glocal Khabar: Today, bank mergers are increasing everyday which has led to an increasing pressure among the students to cope up with changing situations. Do you think our education sector is preparing our students for such situations?
Mr. Shah: As I aforementioned, the banking sector and education sector of the country have to integrate well to produce the best results. Educational sector has to produce efficient management teams which can deal with mergers in a positive way. The effectiveness of a merger is dependent on the management and the teams that bank provide as evident with various examples present in front of ourselves today. As long as the managing team is good and can keep the employees motivated, banks are going to proposer from the merger or else the negative repercussions shall take place and because good management teams are a by product of good education, it is important that our educational institutions today provide some case studies to our students to orient them towards mergers and how it can be done in the most efficient way.
Glocal Khabar: What are the skills that the banking aspirants require today?
Mr. Shah: Rather than young minds wondering about what skills does the financial sector seek for, they should concentrate on what they can provide the financial sector. They need to look within themselves for the skillset they have and develop those skillsets. Financial sector doesn’t necessarily require the people good in numbers and calculations but they require creative people, influencers and communicators too. So, instead of focusing on a skillset that banks would require, young minds need to start self-reflecting on the skills they possess.
Glocal Khabar: What do you think is the reason why the stigma that ‘Top scorers are science students and the average and low scorers are management students’ is diminishing?
Mr. Shah: It is great news that management is no longer a backup option after science and today more and more people want to involve themselves in management education. There are two reasons why management aspirants are increasing in number – one being that the opportunities are increasing for management students and the second one being that it is easier for students to go and pursue their education abroad after indulging in management sector. These reasons are pulling more and more young students towards management education which embarks the beginning of a great economic revolution for the country.
By: Mahima Poddar