VOL. XL NO. 33 PAGES 32 NEW DELHI 14 - 20 NOVEMBER 2015 ` 8.00

PAYMENT BANKS & SMALL FINANCE BANKSNew Avenues for Jobs in Banking Sector

Vijay Prakash Srivastava

T he banking landscape in our country is goingthrough unprecedented changes and challenges.

After nationalization of 14 banks in 1969 & again 6 banksin 1980, banking services in the country have made theirpresence felt in far off places. Before nationalizationthere were just few bank branches restricted mostly tourban centres. In those times, banks generally used tocater to industrialists, big businessmen & persons ofhigh net worth. The majority of population consisting ofvillagers, farmers, labourers & low income group was notable to avail banking facilities. Expansion of bankbranches brought crores of people to banking fold butstill nearly half the population of the country was not hav-ing a bank account. In 2014, the new government atcentre, in a major initiative, launched Pradhan MantriJan Dhan Yojna under which more than 19 crore newaccounts have been opened so far.

Banks are expected to play a highly crucial role ineconomic progress of a country. In our country, bankshave made significant contribution in this direction.Financial Inclusion which means providing banking serv-ices to deprived people, at affordable rates, is amongsttop national priorities. Various schemes have beenlaunched by banks to promote financial inclusion andthere are so many success stories shared by beneficiar-ies.

However, considering the size of India‘s populationand the need for massive efforts to narrow the social andeconomic divide, it was felt that more agencies shouldbe brought in to strengthen the efforts for financial inclu-sion. In December 2013, Committee on ComprehensiveFinancial Services for Small Businesses and LowIncome households, led by Nachiket Mor, was formed.

This committee, in its recommendations, gave the ideaof differentiated bank licensing to fill the gap in provid-ing financial services to low income households andsmall businesses. The banking sector in India till nowhad only one category of commercial banks, which wasthe universal bank. Such a bank is allowed to undertakethe complete range of banking activities consisting oflending, borrowing and investments to all categories ofpeople. Differentiated licensing for banks was recom-mended to bring in new varieties of banks to carry outspecific banking activities.

The idea given by Nachiket Mor Committee is soongoing to become reality as Reserve Bank of India, thecentral bank of our country, has issued license for 11Payment banks and 10 Small Finance Banks. Thelicenses for Payment banks were announced on inAugust this year and for Small Finance Banks on inSeptember.

These banks should not be added to the list of PublicSector banks. Also they will not be similar to the usualcommercial banks as stated before.PAYMENT BANKS

Payment banks are allowed only to accept depositsand offer payment services. This is for the first time any-where in the world that licenses have been given tobanks which only accept deposits. The minimum capitalrequired to set up a payment bank is Rs 100 crore.Foreign direct investment limit in payment banks is 74%,same as for private sector banks. These payment bankswill be required to invest 75% of their funds in govern-ment securities or treasury bills with maturities up to oneyear. This will safeguard the interests of its customers.

Payment banks will accept small savings bankaccounts with a maximum credit limit of Rs 1 lakh .Thesewill also offer payments and remittance services mainlyto migrant labourers and those working in unorganizedsector. For such people remitting money to their nearand dear ones will become much economical and con-venient now. Payment banks will also accept govern-ment subsidies and other aid for credit to their benefici-ary customers. Direct benefits transfer is intended to doaway with the middlemen and to reduce time in makingpayments, with no scope of corruption.

Continued on page 30

Engineering Projects (India) Ltd. requires 64Deputy General Manager, Manager Grade I,Manager Gr-II and Assistant Manager Last Date : 25.11.2015 (pg 14-15)

EPI

Union Public Service Commission invitesapplications for various postsLast Date : 03.12.2015 (pg 26-27)

UPSC

Sashastra Seema Bal requires 592Medical Officers and Specialist MedicalOfficersLast Date:- 30 days after Publication

(pg 9-11)

SASHASTRA SEEMA BAL

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ENTREPRENEURSHIP & CAREER DEVELOPMENT IN BIOTECHNOLOGY

L ife sciences and biotechnology are the key areas to boostthe growth of industrial sector and also to make the agricul-

ture sector sustainable. The need is that solutions are found forbetter health, environment, sanitation, exploration and exploita-tion of aquatic and marine resources, through knowledge econ-omy. It is time to develop devices, products, processes and tapbio-diversity and utility of traditional knowledge for the holisticdevelopment through affordable technology know-how. Throughappropriate policy measure with Information andCommunication Technology (ICT) and knowledge generation,challenges in technology frontier can be addressed by bringingexcellence and innovation through research and development.Great opportunities exist in the sector of bio-sciences and bio-technology through entrepreneurship development among theyouth and also through mentorship approach to acceleratestart-up to promote Micro Small and Medium Enterprises(MSME) through skill development approach. The discipline ofbiotechnology can survive only through interdisciplinaryapproach with the umbrella of large number of areas, research,infrastructure, wet-labs, computing and engineering system byinvesting in advanced infrastructure to promote early start-upstage to the next level and to be ready for growth and expan-sion. This needs to be largely demonstrated and validated bycreating technology platform for delivery of high value productsthrough entrepreneurship development.Biotechnology Development in India:

By 2025 the biotechnology sector in the country is likely toreach $100 billion level with the present annual growth rate ofaround 20 per cent and may accelerate its average growth rateto about 30 per cent. Across the country more than 350 compa-nies have been working not only in the area of vaccines and bio-pharmaceuticals, but also in agricultural biotechnology, industri-al biotechnology, bio services, and bioinformatics. The overallshare of biotechnology sector in the country is around $ 4.5 bil-lion at the moment, of which around 60 per cent is the share ofpharma companies. Gross Domestic Product (GDP) of agricul-ture and allied sectors in India has been growing at a compound

annual growth rate (CAGR) of 3.3 per cent. Despite the focus onindustrialisation, agriculture remains a dominant sector of theIndian economy both in terms of contribution to GDP as well asa source of employment to millions across the country.Agriculture plays a vital role in the Indian economy. Over 70 percent of the rural households depend on agriculture as their prin-cipal means of livelihood. Agriculture, along with AnimalHusbandry, fisheries and forestry, accounts for one-third of thenation's GDP and is its single largest contributor.

The Department of Biotechnology has developed a biotech-nology strategy document through nationwide consultation withthe stakeholders to support various policy issues, fund researchand to bring research excellence in biotechnology, educationin sectors of agriculture and farm, health care, sanitation,industrial biotechnology, marine biotechnology, bioinformaticsetc. It supports world class human resources to meet the newchallenges. The efforts have been to promote mentorship

Continued on page 31

Dr. Arun S. Ninawe

facebook.com/director.employmentnews

www.employmentnews.gov.in 31Employment News 14 - 20 November 2015 EDITORIAL

programme by supporting biotechnologyinfrastructure facilities, bio-incubators,bio-clusters and development of biotech-nology entrepreneurship to promote lifesciences/biotechnology. Skill Development in Biotech Industry:

Skill development in lifesciences/biotechnology involves activitiessuch as research innovation, publicationof papers, updation on research, discov-eries, biotech ventures, company profiles,quiz, mock interviews, laboratory skillsetc. The life sciences discipline facilitatesone to one interaction between the stu-dents and the experts from academicinstitutes and industry through innovativelearning process. Biotechnology FinishingSchools (BTFS) are functioning undervarious departments offering differentspecializations across the country. Theseare very unique initiatives to (a) enhanceplacement opportunities in biotechnologysector, (b) educate and empower humanresource to bridge the employability gapbetween industry and academia, (c) traingraduates and post graduates of life sci-ences to be industry ready for employ-ment and (d) create Biotechnology R&Denvironment in BTFS institutions andsecure internship slots during the programand help in placements after programcompletion. The facilities at BTFS includelibrary, laboratories, class rooms, internetetc. Funding has been a great constraintin promotion of biotech industry andentrepreneurial development.Commercial venture funds and privateequity are interested in investing in bio-medical/biotechnology/ bio-energy proj-ects at the expansion stage. Other life sci-ences/biotechnology branches includingagro-biotechnology, industrial, biotech,biopharma are still not receiving sufficientinterest for investment and therefore, pub-lic private partnership (PPP) modulescould sustain seeding, nurturing anddeveloping successful biotechnologybusiness for industrial growth.

Government has launched a nationalskill development mission under NationalPolicy on Skill Development (NPSD) set-ting a target for skilling 500 million per-sons by the year 2022 with the involve-ment of state governments and variousother stakeholders to fulfil the growingneed of skilled manpower in the country.Bio-sciences have large potential to cre-ate a multiplier or catalytic effect on skilldevelopment in and entrepreneurshipdevelopment. The gap has been bridgedby developing excellence in R&D in insti-tutes of medical sciences, bio-medicalinstitutes, IITs, veterinary schools/ voca-tional schools, universities, institutes ofCSIR, ICAR and UGC education system,SAUs etc. for strategic technology man-agement with translational approach ofscience of manufacturing. However, ithas been greatly observed that althoughgood opportunities exists for biotechnolo-

gy students in industry and manufactur-ing units, they have not been well trainedin the business development skills andtherefore, value addition translation atresearch level needs to be imparted bygiving emphasis on industrial training pro-gramme and the experiential learningthrough finishing schools concept. Institutes/ Industry involvement inSkill Development Programme:

The Biotechnology andPharmaceutical industry has immensepotential in the coming years and thissector needs a large number of trainedgraduates and post-graduates, who arefamiliar with the industrial needs. RajivGandhi Centre for Biotechnology offers asix-month biotechnology skills develop-ment program (BSDP) for graduates inthe disciplines of engineering, medicineand biological sciences. It imparts inten-sive knowledge relevant to the presentindustrial needs to bridge the gapbetween the industry and academia,thereby generating immediately employ-able work force. Various programmes areoffered that include molecular diagnosis,bio-imaging, biotech instrumentation,bioinformatics and analytical sciences.

The National Agri-Food BiotechnologyInstitute (NABI) an autonomous instituteof the DBT, located at Mohali in Punjab isengaged in transformation of agri-foodsector through knowledge generation andtranslational science leading to valueadded products based on agri- foodbiotech innovations. It provides innovativesolutions in primary and secondary agri-culture including high-end food process-ing and creates opportunities for researchtrainees related to agricultural, foodbiotechnology and training in agriculturalbiotechnology, food biotechnology, bioin-formatics etc. The research programmesand technologies for the biotech cluster atMohali aim at making Indian agricultureand food industry more innovation driven,remunerative and sustainable. Investorsin agri-food sector are carrying innova-tions to market place.

On behalf of Department ofBiotechnology (DBT), BiotechConsortium India Limited (BCIL) offers ascheme of practical industrial training forM.Sc./M.Tech./B.E./B.Tech. students toprovide industry-specific training for skilldevelopment and enhancing their jobworthiness in biotech industry. This pro-gramme helps biotech and life sciencesstudents to get suitable placement inbiotech industry with their adequateexposure to industry-specific training ofskill development. The training period issix months.Entrepreneurship DevelopmentProgramme (EDP):

There are several EntrepreneurshipDevelopment Programmes (EDP), run bymanagement and the agricultural insti-tutes in India. The training for Science andTechnology (S&T) graduates and thediploma holders is provided in low inputbiotechnology areas, planning, initiating

and launching of economic activities as anenterprise successfully. The entry level isgraduation in science/ biological sciences/life sciences for such training opportunitiesfor the un-employed. The schemes pro-vide assistance offered by various con-stituents of the support system in prepara-tion of a technically feasible and economi-cally viable project report, and to developlinkages with R&D institutions with theproven indigenous technologies and serv-ices, in the areas of high technology, food,pharmaceuticals, leather, plastics, bio-medical equipment including agriculturebiotechnology and industry products.

On the similar lines National Institutefor Entrepreneurship and Small BusinessDevelopment (NIESBD), an autonomousinstitute of Govt. encourages self employ-ment by supporting small business entre-preneurship development by youth, pro-moting micro enterprises at rural level,developing and disseminating newknowledge and insights in entrepreneur-ial theory and practice.Key Career Opportunities:

Life Sciences/Biotechnology being aresearch oriented science has greatscope as the demand for biotechnologistshas been growing in India as well asabroad. There are many applications ofbiotechnology such as developing variousmedicines, vaccines and diagnostics,increasing productivity, technologicalsolutions improving energy productionand conservation and biodiversity for sus-tainable agriculture, sanitation etc. Thecareer opportunities for a biotechnologistrange from careers in academics, indus-try to many other fields.

A graduate in biotechnology can optfor the post of a Technical Assistant whilea post graduate can opt to teach orbecome a Research Assistant. Aresearch degree holder in Biotechnologycan become an associate scientist, sen-ior scientist, or an academician.

As a postgraduate one can work as aResearch Assistant under a SeniorScientist, Project Manager or aSupervisor of a section. Ph.D holders canbe Senior Scientists, Head of Researchand Development, Divisional Head for aresearch team or an Adviser.

In life sciences, microbiologists areinvolved in research advancement in thefield of science and technology. Theresearch in this field has wider careeroptions in Hospitals / Clinical laboratories,

Food industry, Environmental pollutionmanagement, Research labs and teach-ing. As a graduate or postgraduate inmicrobiology, one can be placed as aTechnical Assistant, Project Assistant in aresearch laboratory. Bacteriologists,Environmental Microbiologists, FoodMicrobiologists, Industrial Microbiologists,Medical Microbiologists (hospitals & clin-ics), Mycologists, Protozoologists,Immunologists, Parasitologists or aVirologists. Options like science journal-ism and teaching are also there.Carreer for Biotech Researchers:

Biotechnology researchers areengaged in study of both plant and animallife, and living organism at the molecularlevel to understand their place in nature.The research often uses genetic manipu-lation to try to improve agricultural produc-tion, pharmaceutical products, medicaltreatment, or mitigation of environmentalpollution. Researchers may work for labo-ratories in the pharmaceutical industry orelsewhere, or for public institutions, includ-ing universities and organizations such asthe immunology Institutes. Research sci-entists often investigate the DNA and RNAof bacteria and viruses, as well as thegenetic makeup of animals, plants, andpeople. They are also involved in develop-ing disease or insect-resistant cropsthrough the insertion of genes, thereforelimiting the need of use of pesticides, andinserting human insulin-producing genesinto bacteria to create miniature insulin-producing factories. These researchersmay also be asked to perform DNA com-parisons to help law enforcement officersin criminal cases.

Marine biotechnology research, apartfrom looking for the treasure of the sea isalso engaged in exploring new anti-cancerdrugs derived from marine invertebrates.Marine environmental research focuseson bioactive molecules and novel com-pounds, solutions for restoring wetlandsand estuaries that are contaminated withpollutants.

Biotechnology has been a fast growingsector. It offers vast scope for entrepre-neurship as well as for career development.(The author is presently working in theDepartment of Biotechnology New Delhias Scientist "G" and Advisor, dealingwith the Programme area of AnimalSciences and Animal Biotechnology.email: ninawe@gmail.com)

ENTREPRENEURSHIP & CAREER...Continued from page 1

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Employment News

Banking and Financial Services Sector will require 1.6 million skilled workforce by 2022: NSDC ReportAccording to the latest report of National Skill DevelopmentCorporation (NSDC), Banking and Financial Services Sector isgoing to require 1.6 million skilled workforce by 2022. The reportpoints out that considering the low levels of banking penetration,

expansion through branches and business correspondents (BCs) is likely to gener-ate significant employment opportunities in the sector. So far, Public sector banks(PSBs) have been the leading employer in the country's banking sector, accountingfor more than 73 per cent of the hirings. As the focus shift towards customer-facingand sales profiles, the industry has witnessed a surge in entry-level hiring, which isexpected to sustain the sector's growth. The report further states that the countrysaw a mix of public, private and foreign banks imparting stability and growth in thebanking ecosystem while the network of non-banking financial companies (NBFCs)are complementing banks in a huge way. The sector saw increasing use of alter-native channels, such as ATMs, mobile and internet banking. These have alsoadded to the incremental human resource requirement in the sector. Innovativebanking products have led to some new interesting job roles in the sector. Indo-German Centers of Excellence in Agriculture to be set up

The German Agribusiness Alliance (GAA) and Agriculture Skill Council of India(ASCI) have recently signed a Memorandum of Understanding for the purpose of

establishing, “Indo-German Centers of Excellence in Agriculture”. It aimed at cre-ating a Platform for practical skill development in agriculture in India. The inclusion,participation and funding from the German private sector shall be coordinated bythe German Agribusiness Alliance. The centre of excellence will cover four majorareas, (a) Crop production (including agricultural machinery/mechanization andpostharvest handling) and marketing, (b) Horticulture crops management, produc-tion and value chain integration, (c) Cattle breeding / milk production, procurementand marketing and (d) Poultry/egg production.NSDC joins hands with Infineon Technologies for skill development inSemiconductor Manufacturing

National Skill Development Corporation (NSDC) has recently signed aMemorandum of Understanding (MoU) with Infineon Technologies, a Germansemiconductor manufacturer. Both parties will develop a joint curriculum for skilldevelopment programs in semiconductor manufacturing. Under the ‘Make in India’program, plans for three Front End Fabrication (fabs) projects of other investors arein the process of approval. Total direct employment of 30,000 is expected to be cre-ated by these fabs, along with further indirect employment of over 1,00,000. Interms of Back End manufacturing which is more labor intensive, several facilitiesare expected to be set up to support the downstream activities from the Front Endfabs. The MoU primarily focuses on imparting electronics and semiconductor relat-ed knowledge and fundamental skills.

Skill Development Initiatives: News & Updates