entailed costs for the banks but without compromising on the reach of the banks to their customers. from the customers ’ perspective, the atm card of any bank can be used in any atm – which enables more convenient and wider atm access to the bank customers of varied banks in different geographical areas. as regards the charges for use of the atms connected through any of the atm networks in the country, while the balance enquiry by the customers is free of any charges, the cash withdrawal from such atms, which currently attracts a nominal charge, would also become cost free for the customers from april 1, 2009,. thus, the networking of the atms across the country, by leveraging the technology, is indeed a very customer - friendly development. may i also mention for record that as at end - june 2008, the number of atms in the country stood at 36, 314 of which the number of atms deployed by the psbs, new - private - sector, old - private - sector and foreign banks was 22, 525, 10, 552, 2, 189 and 1048 atms, respectively. at the system level, the banks had planned the installation of another 10, 560 atms during 2008 - 09. during the quarter ended june 2008, the daily average number of hits on the atms of the psbs aggregated 31, 31, 431, with the daily average amount of transactions at rs. 759. 81 crore as against the corresponding figure of 14, 91, 399 and over rs. 385 crore for the ( old and new ) private sector banks, of which the new private sector banks accounted for a loin ’ s share at 12, 84, 071 hits and around rs. 329 crore in the value of daily transactions. credit cards 13. as you are aware, there has been phenomenal increase in the number of credit cards issued by the banks in india during the last few years and a majority of the psbs has been in the credit card business since long. the number of credit cards outstanding at the end of june 2008 was 27. 02 million as against 24. 39 million in june 2007. of these, the number of credit cards issued by public sector banks was 3. 8 million, of which 3. 09 million cards were issued by the sbi cards – a joint venture of ge money and sbi. the usage of credit cards has also recorded an increase of 10. 73 per cent during the year

k c chakrabarty : talent management in the indian banking system address by dr k c chakrabarty, deputy governor of the reserve bank of india, at the silver jubilee function of the institute of banking personnel selection ( ibps ), mumbai, 2 april 2010. * * * the assistance provided by shri suddhasatva ghosh in preparation of this address is gratefully acknowledged. shri m. balachandran, director, ibps, shri alok k. mishra, cmd, bank of india, shri d. p. sharda and shri r. k. chaudhury, ex - directors, ibps, executive directors of banks, distinguished guests, ladies and gentlemen ; i am indeed very happy to be in your midst today for the silver jubilee function of ibps. april 1 has special significance for both rbi and ibps. it is the day rbi was established 75 years ago and it is also the foundation day for ibps. yesterday, we celebrated the grand finale event of our platinum jubilee year and, today, ibps is celebrating its silver jubilee year. so, first of all a very hearty congratulations to all the employees, governing council members and all the stakeholders on this day. reaching such a significant milestone in the life of an institution is always very special. it is not only a day to feel proud, it is a day to reflect, a day to share, and a day to celebrate. it is also an opportunity to reemphasize what the institution stands for, to renew its values. such a moment constitutes one of the few opportunities for collective sharing in an institution. the coming together and the camaraderie that this day evokes is also perhaps the appropriate moment for introspection and reflection on the evolution of the institution, its current and future challenges, and how the institution can fulfill its objectives even better. over these years, the ibps has made a mark as a premier national level institute for recruitment, training and research related to selection and management of human resources. since its inception, the institute has provided commendable services to various organizations for recruitment, internal promotions, placement and admissions. it has also been assisting the financial sector towards employees ’ selection, promotion and placement. in recent years, the institute has also engaged itself in a variety of extension services related to personnel selection and human resource development / human resource management. far - reaching developments in the roles and activities of banks and financial institutions in