PNB embarks on Mission Parivartan-Sunil Mehta
In keeping with the dynamic business environment, the Bank has embarked on Mission Parivartan – a structured approach for keeping the long-term success of the Bank in mind
An Independent think tank on the lines of *NitiAyog* named *Mission Parivartan Division* will act as the catalyst to ensure the 3 C’s i.e. Commitment, Collaboration and Communication bring together all internal stakeholders.
The think tank will provide both directional and policy inputs and also act as a platform to enhance ownership, commitment and involvement of HO Divisions and all internal stakeholders in the policy making process using the bottom’s up approach
*Lead the Parivartan* portal has been developed in-house to engage all functions of the Bank in the transformation process and involves crowd-sourcing of suggestions and ideas from all PNBians.
Ideas have been sourced around the 3P’s – People, Process and Product. Since the launch the *Lead the Parivartan* portal has sourced many ideas which are currently being evaluated.
Ideas have been sought under the following areas as under:
|P||Profit||Profit Maximization/Cost reduction/Business growth|
|A||Asset Quality||Improving Asset Quality/Reduce Slippages|
|R||Recovery||Ideas/Strategies for strengthening Recovery|
|I||Increase Credit||Ideas for Increasing Credit|
|V||Vigilant||Innovative Vigilance Practices/Ensuring Compliance/Reducing error and Complaints|
|A||Alternate Delivery Channels||Popularizing ADCs/Expanding the scope of ADCs|
|R||Retail Business||Ideas/Strategies for augmenting Retail Business|
|T||Turn Around Time||Process Optimization/Streamlining Services Delivery to Customers|
|A||Ambience||Ideas to improve Ambience of the Bank|
|N||New Relationship||Ideas other than those covered above under PARIVARTAN alphabets|
Shortlisted ideas will be compared to those within the system along with value addition proposed and a workflow of the suggested procedure.
Transformation efforts will include measurable criteria to stay on course and also *Monthly Insight* – an e-newsletter that will serve as an ideal channel to sensitive all staff members at a sustained frequency on the developments taking place under the transformational exercise.
Established evaluation committee will look at a suitable incentive upon approval of ideas/suggestions that will include training at reputed institutions as well as letters of appreciation.
Sunil Mehta, Managing Director and Chief Executive Officer stated that “Change is the only constant. We are living in a dynamic environment and must learn not only to live with constant change, but also plan it from moment to moment. The organization that does not keep pace with the changing technology, customer demands and effective business processes loses its competitive edge. To paraphrase the words said by the Nokia CEO: ‘’We didn’t do anything wrong, but others have done it right”. The advantage they had yesterday was replaced by the trends of tomorrow”.