Finance Minister P Chidambaram asked the Bharatiya Mahila Bank (BMB) to recruit people laterally to the women-focused bank. Lateral employment is not a common phenomenon in the country’s public sector banks. Bringing in people laterally will help devise ‘innovative strategies’ to grow this bank, Chidambaram said at a press conference here after his first-ever address to the Board of state-owned BMB. When asked about the scope of lateral hiring, he said, it would mean getting people from outside the banking system with expertise in areas such as marketing and other skill sets.

Read the Hindu Business Line news report here.