IMF regional centre coming up at Pune

A regional training centre of the International Monetary Fund (IMF) is being set up in Pune for building a human resource pool for macro-economic policy development.

This will be IMF's fourth regional training centre after Brazil, China and Singapore and will cater mainly to south Asian region and to some extent African region.

The Reserve Bank of India (RBI) is setting up the infrastructure needed for the IMF centre within the campus of the National Institute of Bank Management (NIBM).

The operational expenses will be borne by IMF and part of it will be built into student fees.

NIBM director Asish Saha said the centre will impart training in macro-economic perspective planning.

NIBM has also entered into a full-fledged arrangement with the US-based Kellogg School of Management to conduct business leadership programmes for bankers.

Saha said the programme will groom NIBM students for early induction into the higher management of banks.

Banks will face a shortage of senior management personnel in view of changed functional needs in financial services field.

Dean of Kellogg School, Dipak Jain, said Kellogg's leadership training programmes revolve around "people skills and communication skills".

Jain said the big demographic shift in the population that will happen in 20 years or so will create a large section in the age group of over 65 years. This will throw up opportunities globally for banks in terms of wealth care needs of this financially savvy age group.

He said Japan will spent about 43 trillion yen by 2025 on social security, while General Motors will have huge expenses on hands for its retired employees.