the most private aspect of your life, there if you are excellent, you will be excellent everywhere. " swamy vivekananda has also talked about the essential ingredients for achieving human excellence. he particularly emphasises on atma shraddha – self - confidence i. e. having faith in oneself – which brings out the best out of us and a sense of honour and self - respect. if we work with such self - confidence, we put our heart and soul in whatever tasks we undertake. it ’ s only soulful work which becomes excellent. wherever there is no sense of honour, personal worth and dignity, one ’ s work becomes sloppy and slipshod. professionals need to especially remember this all through. following atma shraddha, the other ingredients for achieving human excellence are knowledge, responsibility, love and concern for others, as expounded by swamy vivekananda. bis central bankers ’ speeches iii. other essentials of human excellence at a technical level, human excellence is achieved when there is a harmonious blend of intelligence, emotional and spiritual quotients ( iq, eq and sq respectively ). iq represents material capital reflected in rational intelligence and concerned about “ what i think ”? eq represents social capital reflected in emotional intelligence and concerned about “ what i feel ”? the level of eq determines how one handles relationships. in a profession, eq is most important because it ’ s all about handling relationships with one ’ s clients, peers, professional associations, regulators and the society around. sq represents spiritual capital reflected in spiritual intelligence and concerned about “ what i am ”? physiologically, left brain is used for iq ( thinking – serial processing ) while right brain is used for eq ( feeling – parallel processing ). given its expansive and all encompassing nature, the whole brain is pressed into service for sq ( about “ being ” – synchronous processing ). the above can also be grouped as hard and soft skills. as a general rule, hard skills are relatively easy to acquire ; while soft skills are hard to come by. in other words, human excellence calls for qualities of both the head and the heart. iv. essentials of professional excellence knowledge, skills and management of conflicts of interest are the three most essential ingredients of professional excellence. professional excellence predominantly calls for both personal competence ( how we manage ourselves! ) and social competence ( how we manage relationships! ). ( a ) knowledge – on the knowledge front,

able to reap the benefits of this technology in terms of reduction in costs of small value transactions, speed with which the transactions are done if both successful and unsuccessful transactions are considered, improved customer services and effective flow of information within the banks as also to the regulator. banks have not gained in terms of efficiency partly because the much needed business process re - engineering was not done. further, banks have deployed technology for transaction processing and the same has not been explored extensively for analytical processing like customer relationship management and decision making. thus, there is a need to take care of what we could not achieve in the first round of bis central bankers ’ speeches technology implementation and think beyond cbs. supported by the latest technology, banks would need to identify new business niches, to develop customized services, to implement innovative strategies and to capture new market opportunities. with further globalization, consolidation, deregulation and diversification of the financial industry, the banking sector is set to become even more complex. but successful banks make it simple and those who are able to achieve that will be more successful. it is here that the concepts of next generation banking is taking centre stage. there is a need to fast forward to banking 2. 0. next generation banking 9. bill gates has once said “ banking is necessary but banks are not ”. the next generation banking should aim to provide customer - centric features, giving users an extremely personalized experience while at the same time providing increased intelligence and automation to help banks sell appropriate products and services to their customers. changes in demography and how banks reposition themselves to reap the advantages of demographic dividend will be a crucial deciding factor for the success of bank. the gennext banks would be providing life cycle wise products and services, right from birth till death, under one roof. the essential idea is that a relationship once built at birth carries on till death and all the products and services are made available under one umbrella. technologically, next generation banking would mean several interconnected applications and flexible orchestration, driven by business needs, and without a long intermediation cycle. this would call for seamless their customers. changes in demography and how banks reposition themselves to reap the advantages of demographic dividend will be a crucial deciding factor for the success of bank. the gennext banks would be providing life cycle wise products and services, right from birth till death, under one roof. the essential idea is that a connectivity across systems and operating units. it would