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Role of HRD in Risk Management
The importance of Human Resource Management can not be neglected especially when companies are operating in such a volatile and unstable environment. The department plays a vital role in risk management. Needless to say, handling people is one of the most difficult tasks in the world and human resource department of any company has to handle them and other related issues every now and then. Risk Management is not only about controlling or reducing the negative effects of physical and financial threats to the organization. Rather it also includes handling and controlling the risk arising from shortage of employees, their refusal to work and many other issues.It’s human capital who can make or break the organization. It can take it to new heights or can weaken it. It is, therefore, very challenging to handle and manage the risk resulting from people of the organization. It is only human resource that helps management in dealing with risk. The situation would be worst if they themselves become a risk factor. People use their skills and intellect to solve expected or unexpected problems. But what if when they themselves become the greatest source of risk or other problems? This is when HRD plays a key role. Let’s discuss what Human Resource Department of any organization can go the extra mile to manage risk.
Human Resource Management is not only about making policies for the organization.
In today’s unpredictable environment, it is certainly the indispensable part of an organization. The major function of HRD is to get the job done from employees and that too ensuring the interest of both the parties - management and employees. Managing the labor, handling their issues, proper and regular supply of human capital, motivating employees to perform their task in a better way, avoiding unnecessary conflicts and using people to handle risk are what HRD is supposed to do.When we talk about HR related risks, the subject includes problems related to recruitment and retention, adjusting skill-confidence level of employees, stress management, maintaining industrial relations and many more. All these risks can threaten the smooth working of an organization. HRD and risk management are inter-related as they both deal with expected and unexpected problems arising in any organization.
Risk management plans are specially developed and implemented to manage the risk and reducing its negative effect on the organization.
It may or may not be a part of HRD. If the company is facing financial or physical threats, the risk management may not be a part of human resource department. But if it is related to people, industrial relations, conflict management and stress management, it is definitely a part of HRD. It always deals with crisis of human resources of the company. Recruiting, training and retaining people are the major issues that need to be addressed timely.HRD also has to deal with people calamities such as accidental death of an employee, temporary or permanent paralysis, constructional accidents, labor discrimination, etc. Like other risk management plans, plans and programs developed for handling HR issues are not free from problems. They also have some flaws that need to be addressed by HR managers as and when required.
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Principles of Risk Management
Various organizations have laid down principles for risk management. There are risk management principles by International standardization Organization and by Project Management Body of Knowledge.
The Project management body of knowledge (PMBOK) has laid down 12 principles. This article carries an amalgamation of both PMBOK and ISO principles. The various principles are:
- Organizational Context: Every organization is affected to varying degrees by various factors in its environment (Political, Social, Legal, and Technological, Societal etc). For example, an organization may be immune to change in import duty whereas a different organization operating in the same industry and environment may be at a severe risk. There are also marked differences in communication channels, internal culture and risk management procedures. The risk management should therefore be able to add value and be an integral part of the organizational process.
- Involvement of Stakeholders: The risk management process should involve the stakeholders at each and every step of decision making. They should remain aware of even the smallest decision made. It is further in the interest of the organization to understand the role the stakeholders can play at each step.
- Organizational Objectives: When dealing with a risk it is important to keep the organizational objectives in mind. The risk management process should explicitly address the uncertainty. This calls for being systematic and structured and keeping the big picture in mind.
- Reporting: In risk management communication is the key. The authenticity of the information has to be ascertained. Decisions should be made on best available information and there should be transparency and visibility regarding the same.
- Roles and Responsibilities: Risk Management has to be transparent and inclusive. It should take into account the human factors and ensure that each one knows it roles at each stage of the risk management process.
- Support Structure: Support structure underlines the importance of the risk management team. The team members have to be dynamic, diligent and responsive to change. Each and every member should understand his intervention at each stage of the project management lifecycle.
- Early Warning Indicators: Keep track of early signs of a risk translating into an active problem. This is achieved through continual communication by one and all at each level. It is also important to enable and empower each to deal with the threat at his/her level.
- Review Cycle: Keep evaluating inputs at each step of the risk management process - Identify, assess, respond and review. The observations are markedly different in each cycle. Identify reasonable interventions and remove unnecessary ones.
- Supportive Culture: Brainstorm and enable a culture of questioning, discussing. This will motivate people to participate more.
- Continual Improvement: Be capable of improving and enhancing your risk management strategies and tactics. Use your learning’s to access the way you look at and manage ongoing risk.
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Anti Poverty & Employment Generation Programmes
As per the estimation by the Tendulkar Committee the number of Below Poverty Line (BPL) declined to 21.9% of the population in 2011-12 from 29.8% in 2009-10 and 37.2% in 2004-05.
The Global Multidimensional Poverty Index-2018 released by the UN noted that 271 million people moved out of poverty between 2005/06 and 2015/16 in India. The poverty rate in the country has nearly halved, falling from 55% to 28% over the ten-year period.Still a big part of the population in india is living Below the Povert Line. As per Tendulkar Committee this estimation is around 21.9% of the total population of the country.
Anti poverty measures and Employment Generating programmes are:
1. Integrated Rural Development Programme (IRDP):The Integrated Rural Development Programme (IRDP), which was introduced in 1978-79 and universalized from 2nd October, 1980, aimed at providing assistance to the rural poor in the form of subsidy and bank credit for productive employment opportunities through successive plan periods. On 1st April, 1999, the IRDP and allied programmes were merged into a single programme known as Swarnajayanti Gram Swarozgar Yojana (SGSY). The SGSY emphasizes on organizing the rural poor into self-help groups, capacity-building, planning of activity clusters, infrastructure support, technology, credit and marketing linkages.
2. Jawahar Rozgar Yojana/Jawahar Gram Samriddhi Yojana:Under the Wage Employment Programmes, the National Rural Employment Programme (NREP) and Rural Landless Employment Guarantee Programme (RLEGP) were started in Sixth and Seventh Plans. The NREP and RLEGP were merged in April 1989 under Jawahar Rozgar Yojana (JRY). The JRY was meant to generate meaningful employment opportunities for the unemployed and underemployed in rural areas through the creation of economic infrastructure and community and social assets. The JRY was revamped from 1st April, 1999, as Jawahar Gram Samriddhi Yojana (JGSY). It now became a programme for the creation of rural economic infrastructure with employment generation as the secondary objective.
3. Rural Housing – Indira Awaas Yojana:The Indira Awaas Yojana (LAY) programme aims at providing free housing to Below Poverty Line (BPL) families in rural areas and main targets would be the households of SC/STs. It was first merged with the Jawahar Rozgar Yojana (JRY) in 1989 and in 1996 it broke away from JRY into a separate housing scheme for the rural poor.
4. Food for Work Programme:The Food for Work Programme was started in 2000-01 as a component of EAS full form??. It was first launched in eight drought-affected states of Chhattisgarh, Gujarat, Himachal Pradesh, Madhya Pradesh, Orissa, Rajasthan, Maharashtra and Uttaranchal. It aims at enhancing food security through wage employment. Food grains are supplied to states free of cost, however, the supply of food grains from the Food Corporation of India (FCI) godowns has been slow.
5. Sampoorna Gramin Rozgar Yojana (SGRY):The JGSY, EAS and Food for Work Programme were revamped and merged under the new Sampoorna Gramin Rozgar Yojana (SGRY) Scheme from 1st September, 2001. The main objective of the scheme continues to be the generation of wage employment, creation of durable economic infrastructure in rural areas and provision of food and nutrition security for the poor.
6. Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) 2005:It was launched on February 2, 2005. The Act provides 100 days assured employment every year to every rural household. One-third of the proposed jobs would be reserved for women. The central government will also establish National Employment Guarantee Funds. Similarly, state governments will establish State Employment Guarantee Funds for implementation of the scheme. Under the programme, if an applicant is not provided employment within 15 days s/he will be entitled to a daily unemployment allowance.
Salient features of MGNREGA are:I. Right based frameworkII. Time bound guarantee of employmentIII. Labour intensive workIV. Women empowermentV. Transparency and accountabilityVI. Adequate funding by central government
7. National Food for Work Programme:It was launched on November 14, 2004 in 150 most backward districts of the country. The objective of the programme was to provide additional resources available under Sampoorna Grameen Rojgar Yojna. This was 100% centrally funded programme. Now this programme has been subsumed in the MGNREGA from Feb 2, 2006.
8. National Rural Livelihood Mission: Ajeevika (2011)It is the skill and placement initiative of Ministry of Rural development. It is a part of National Rural Livelihood Mission (NRLM)–the mission for poverty reduction is called Ajeevika (2011). It evolves out the need to diversify the needs of the rural poor and provide them jobs with regular income on monthly basis. Self Help groups are formed at the village level to help the needy.
9. Pradhan Mantri Kaushal Vikas Yojna:The cabinet on March 21, 2015 cleared the scheme to provide skill training to 1.4 million youth with an overall outlay of Rs. 1120 crore. This plan is implemented with the help of Ministry of Skill Development and Entrepreneurship through the National Skill Development Corporation. It will focus on fresh entrant to the labour market, especially labour market and class X and XII dropouts.
10. National Heritage Development and Augmentation Yojna (HRIDAY):HRIDAY scheme was launched (21 Jan. 2015) to preserve and rejuvenate the rich cultural heritage of the country. This Rs. 500 crore programme was launched by Urban Development Ministry in New Delhi. Initially it is launched in 12 cities: Amritsar, Varanasi, Gaya, Puri, Ajmer, Mathura, Dwarka, Badami, Velankanni, Kanchipuram, Warangal and Amarvati.
These programmes played/are playing a very crucial role in the development of the all sections of the society so that the concept of holistic development can be ensured in the real sense.
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