previous report. our ranking on gender inequality is in stark contrast to our claims to being a progressive society and a developing nation. it brings into sharp focus the urgent need to implement effective measures for quickly reversing this position. each one of us, cutting across professions and positions in life, have an important role to play in making this transformation. 9. prior to independence, the gender divide within our labour force was an accepted norm. especially since the 1970s, scholars and activists have challenged the inequalities that had been established and have fought to reverse them. these inequalities included unequal wages for women, relegation of women to unskilled spheres of work, and restricting women as a reserve army for labour. these scholars and activists have also sought to focus on class - consciousness in this discourse, recognizing the inequalities not just between men and women but also within social structures such as caste, tribe, language, religion, region or class. in recent years, the focus of such deliberations has gone beyond treating women as bis central bankers ’ speeches useful members of society and now also focuses on empowering them to decide the course of their personal lives and the right of self - determination. i am glad that the v. v. vanniaperumal college is playing a transformational role by churning out a knowledgeable and empowered lot of women year after year, who can claim their rightful place under the sun. 10. lack of education and empowerment of women is also reflected in the extent of disparity between the proportion of financially excluded men and women. that women in india are much more financially excluded than the men is evident from the fact that as of march 2011, only 21 per cent of total bank deposit accounts were held by women and these accounted for just about 12 per cent of the total volume of deposits. similarly, women availed only 18 per cent of the total small credit from banks in 2011. therefore, initiatives to empower women should, necessarily, include strategies to link them to the formal financial system by providing them access to deposit and credit accounts. 11. however, considering the centrality of banks to the nation ’ s economic order, their role in women empowerment cannot be restricted merely to linking them to the formal financial system. the banking and finance sector in india has emerged as a significant employer of women, though related data suggests that there is still tremendous scope for improving their presence in this sector. the financial sector, in specific, requires its

to administered structure of interest rates, high levels of pre - emption in the form of reserve requirements, and credit allocation to certain sectors. one of the major objectives of banking bis central bankers ’ speeches sector reforms has been to enhance efficiency and productivity through competition. as you know, the reserve bank is currently considering issuing licenses for establishment of new banks in the private sector. 16. this changed environment and the internal compulsions arising from greater competition and the need to improve market shares and / or profitability is resulting in the banks ’ quest for greater efficiency and an effort to reposition themselves, given the realities of the environment and their internal strengths and weaknesses. this also generates more possibilities and greater opportunities for young graduates and post - graduates like you. the reserve bank too now recruits a certain number of people every year. it is a wonderful opportunity that aspirants like you can look forward to, and prepare for, every year. 17. we live in an age of unprecedented opportunities. but, with opportunity comes responsibility. it is for tomorrow ’ s managers to carve out their own place, to know when to change course and how to keep themselves engaged and productive throughout. to do things well, one needs to cultivate a deep understanding of oneself – not only the strengths and weaknesses but also how one learns, how one works with others, what his or her values are and where he or she can make the greatest contribution. because only when one operates from strength, can true excellence be achieved! it is, therefore, for all of you to keep on learning, understanding yourself and your environment, so that you always stay ahead of the curve as far as success in various life roles is concerned. 18. the emerging challenges in the banking and finance sector call for a new, more dynamic, aggressive and challenging work culture to meet the demands of customer relationships, product differentiation, brand values, reputation, corporate governance and regulatory prescriptions. understanding and dealing with difficult transitions would be the key for youngsters like you while designing strategies for the organizations that you will be eventually joining. while leadership skills, the ability to multi - task and manage competing imperatives will be the necessary ingredients of the new generation managers, the oldfashioned qualities of desire to learn, a strong sense of professional ethics, an enquiring mind, a strategic view, the qualities of humility and empathy, a willingness to embrace practical experience, and an eagerness to adapt to new experiences would continue to be critical.