Foundation Training Program of Bangladesh Bank Training Academy

Measuring Effectiveness of Foundation Training
Program Provided by Bangladesh Bank Training Academy

Bangladesh Bank as the central bank of Bangladesh is playing an essential role in advancing the economy’s smooth functioning, creating business friendly policies and protecting the economy in times of crisis. For the best performance in today’s ever changing world, Bangladesh Bank’s employees are required to be given adequate training so that they can adapt with changes and keep themselves updated with latest knowledge about the banking sector and the economy. As training incurs a lot of cost and in today’s world cost must be justified so training must be evaluated to check whether its benefits overshadow the cost or not. Bangladesh Bank Training Academy (BBTA) provides around 80 training programs among which the most prominent one is “Foundation Training”.

Training is an attempt to improve current and future performance of employees. Development refers to those learning opportunities designed to help employee’s growth. Here in central bank, Assistant Directors are recruited in an entry level position where they come from different educational background. Most of them do not even have any business background to understand the banking industry. Some of them are fresh graduate who have no experience. Through foundation training program, they are expected to come at a same knowledge level and skill.

The main objective of the study is to evaluate the effectiveness of foundation training program that is provided to Assistant Directors by BBTA. Sometimes it is very much difficult to measure the outcome by rating or scoring and expressing the result numerically where issues are subjective like knowledge, skill or even behavior. So here, I choose Kirkpatrick’s four level evaluation model which is considered to measure the effectiveness and performance improvement of an employee and it is judged subjectively.

For getting this evaluation done, a qualitative study has been done though interview with 10 employees of Bangladesh Bank. Two of them already became supervisor of other Assistant Directors which make this study more reliable and resourceful. Here, post-test questionnaire has been used and participants were asked 7 questions which falls under different levels of Kirkpatrick’s model. Questions were designed from the perspective of both the supervisors and trainees.

Level 1 Evaluation found that Participants’ reaction is totally positive towards the foundation training program. Level 2 evaluation says participant get to know about the style and unique functioning of Bangladesh Bank from the perspective of central bank’s overview and country’s economy. Level 3 Evaluation proved the trainees becomes more matured as a central banker and they get professionalism in their daily activity and finally Level 4 Evaluation accomplished that foundation training programs’ objective has been served through communicating its core values with employees.

In few instances, limitations are faced due to the characteristics of the training courses. For such a case, a rational solution has been developed as practicable. I believe, current training function requires alteration and adjustments in coming days so this valuation report may help them for further advancement.

Introduction

Organization and individual should develop and process simultaneously for their survival and attainment of mutual goals. So every modern management has to develop the organization through human resource development. Employee training is the most important sub-system of Human Resource Development. Training is specialized function and is one of the fundamental operative functions for Human Resource Management.

Creating training and development tools to ensure that managers conduct performance appraisals effectively involves designing the process, training employees on how to use the tools, training managers on how to provide feedback and set performance goals while adhering to legal guidelines. Comprehensive performance appraisal training and development enable organizations to validate that their employees have the right skills and knowledge to complete job tasks and produce quality products and services.

Bangladesh Bank is the Central bank of Bangladesh. Training and development is an important part of it. Bangladesh bank has a separate department which is called Bangladesh Bank Training academy (BBTA) to ensure effective training program to their employees.

Objective of the Study

Primary Objective

The primary objective is to measure the effectiveness of Foundation Training Program Provided by BBTA.

Specific Objective

1) To know about foundation training program of Bangladesh Bank.

2) To evaluate each step of transfer of foundation training

3) To draw an effective recommendation.

Scope of the Study

The report deals with the training and development process of an employee through foundation training program in terms of theoretical point of view and the practical use. The study will allow learning about foundation training and how the process of trainee selection actually takes place in central bank. According to parent organization’s need, Bangladesh Bank Training Academy (BBTA) gratifies many training programs. But here the study is kept limited to only foundation training program. The study is qualitative in nature. Moreover, this report will help to understand why foundation training program is very important for this organization.

Methodology of Study

Both primary and secondary data were collected for the research.

Primary Data

Primary data has been collected in the form interviews with the supervisors and the employees/trainees who recently finished foundation training program. Respondents were asked for specific questions through interview so that qualitative study is possible.

Secondary Data

Online resources were researched extensively to gather information from a host of journal articles, both business and academic. In addition, articles from established websites were also browsed for ideas regarding recent trend of the training.

The Organization

Bangladesh Bank as Central Bank

A central bank or monetary authority is a banking institution granted the exclusive privilege to lend a government its currency. A central bank is distinguished from a normal commercial bank because it has the monopoly on creating the currency of a nation, which is loaned to the government in the form of legal tender. It is a bank that can lend money to other banks in times of need. Its primary function is to provide the nation’s Money Supply, but more active duties include controlling subsidized-Loan Interest Rates and acting as a lender of last resort to the Banking Sector during times of financial crisis. It may also have supervisory powers, to ensure that banks and other financial institutions do not behave recklessly or fraudulently.

History of Bangladesh Bank

Bangladesh Bank is the central bank and monetary authority of Bangladesh. It came into existence under the Bangladesh Bank Order, 1972 (Presidential order No.127 of 1972) which took effect on 16th December 1971 .Through this order ,the entire operation of the former state Bank of Pakistan in the eastern wing was transferred to Bangladesh Bank. The powers and functions of Bangladesh Bank are governed by various laws and acts including the Banker’s Books Evidence Act 1891, Insolvency Act 1920, Banking Companies Ordinance 1962, Bangladesh Bank order 1972, Foreign Exchange Act 1947, Money Lone Court Act 1990, Banking Companies Act 1991, Financial Institutions Act 1993 and Rules 1994, Companies Act 1994 and Bankruptcy Act 1997, Anti-Money Laundering Act 2002 etc. After the separation of Pakistan from India in 1947, the State Bank of Pakistan was established in 1st July 1948. The office of Deputy Governor of State Bank of Pakistan was in Dhaka. After the liberation war, and the eventual independence of Bangladesh, the Government of Bangladesh reorganized the Dhaka branch of the State Bank of Pakistan as the central bank of the country, and named it Bangladesh Bank. This reorganization was done pursuant to Bangladesh Bank Order, 1972, and the Bangladesh Bank came into existence with retrospective effect from 16 December 1971.

Functions

Bangladesh Bank is both the Government’s banker and the banker’s bank. Bangladesh Bank is known as the “Lender of the Last Resort”. If any commercial bank or specialize bank and all other financial institutions are face the problem of liquidity Bangladesh Bank help them financially. Bangladesh Bank is empowered to act as the watchdog of the country’s banking system, and all scheduled banks are accountable to Bangladesh Bank, which has extensive powers to ensure soundness of the banking system. No bank can commence banking business in Bangladesh and no existing bank can open a new branch in or outside the country or shift any branch from one place to another without obtaining a license/permission from the Bangladesh Bank. Bangladesh Bank, like most of the central banks of different countries, exercises monopoly over the issue of currency and the banknotes. Except for the 1 and 2 taka notes, it issues all other denominations of Bangladeshi Taka. The notes of 1 and 2 taka are issued by the government these are known as government notes and all other notes except 1 and 2 taka are issued by the Bangladesh Bank these are called as banknotes. The government deposits all its cash balances with the Bangladesh Bank free of interest.

Other major functional areas include:

• Formulation and implementation of monetary and credit policies.
• Regulation and supervision of banks and non-bank financial institutions, promotion and development of domestic financial markets.
• Management of the country’s international reserves.
• Issuance of currency notes.
• Regulation and supervision of the payment system.
• Acting as banker to the government.
• Money Laundering Prevention.
• Collection and furnishing of credit information.
• Implementation of the Foreign exchange regulation Act.
• Managing a Deposit Insurance Scheme.

Foundation Training

Bangladesh Bank Training Academy (BBTA) provides around 80 different training courses, where around 6000 trainee participate in a calendar year. Among all these training courses, Foundation Training for Assistant Directors is the longest and hence most expensive training program from BBTA site. It is not only a training but also a development program for creating efficient central bankers. Its primary objective is to get every employee in a common platform so that everyone has minimum knowledge of banking industry. It is a 6 months long training program. 60 persons can participate at a time in a batch. It is held twice a year. (Bangladesh Bank Training Academy , 2015)

Foundation training are conducted mainly by Bangladesh Bank Training Academy and Bangladesh Institute of Bank Management (BIBM). Assistant Directors from various departments/ branch Offices pursue nomination from Training and Development Wing for this training. Then TD Wings makes an eligibility list consisting selected Assistant Directors for the training. Finally they are sent to training program on full pay leave for the period of 6 months.

Every training programs and activities are approved by Honorable Governor Sir. Deputy Directors and Joint Directors of BBTA house are considered as Course Coordinators and Deputy General Manager is considered as Course Director. BBTA has 31 in house full time faculty whose are prioritized according to seniority. BBTA does not charge any fees from any of the participant of the training program. Sometimes BBTA hires lecturers from outside of central bank like from any public or private universities, renowned economist, former employees or commercial bank employees. In this cases, BBTA arranges honorarium for them.

In foundation training, Assistant Directors get a chance to understand the economy of our country in a 360 degree approach. Here, not only do they visit the rural areas to get introduced with farmers of the village but also get a chance to see the functioning of Central Bank of India by visiting there for two weeks. They also visit Takshal which is another institution under Bangladesh Bank. They also have four industry visits as part of the foundation training program curriculum. Employee gets hostel facility, library facility, industry visit, foreign programs etc. free of cost.

Theories Used for Analysis

Training effectiveness refers to the benefits that the company and the trainees receive from training. Benefits for trainees may include learning new skills or behavior. Benefits for the company may include increased sales and more satisfied customers. A training evaluation measures specific outcomes or criteria to determine the benefits of the program. (Noe, Hollenbeck, Gerhart, & Wright, 2013)

Training valuation refers to the process of collecting the outcomes needed to determine whether training is effective or not. The evaluation design refers to the collection of information – including what, when, how, and from whom – that will be used to determine the effectiveness of the training program. However, any organization that evaluates training has to be confident that training – rather that some other factor – is responsible for changes in the outcomes of interest. (Noe, 2013)

An evaluation plan must be developed with proper needs assessment, characteristics of environment and steps taken to ensure transfer of training. A company should look closely to some factors to analyze a training programs outcomes like its business strategy (why are we conducting training?), organizational analysis (How is it related to business?), it task analysis (what is the content?), person analysis (Who needs training?), learning objectives of the training and its plan for training transfer. (Noe 2013)

Kirkpatrick’s 4 level model

A company must decide how it will determine its program effectiveness that is what kind of training outcomes or criteria will be measured. One of the original frameworks for identifying and categorizing training outcomes is developed by Donald Kirkpatrick. (Kirkpatrick, 1975.) Donald Kirkpatrick, Professor Emeritus at the university of Wisconsin and past president of the American Society for Training and Development (ASTD), first published his four level Training evaluation model in 9159 in the US Training and Development Journal. Then it’s updated at 1975 and again in 1994. It has been widely used since 1980’s. It suggests that higher level outcomes should not be measured if changes occur in lower level outcomes. (Noe, Hollenbeck, Gerhart, & Wright, 2013)

Kirkpatrick’s model includes four levels:

• Level 1 Evaluation—Reaction
• Level 2 Evaluation—Learning
• Level 3 Evaluation—Behavior
• Level 4 Evaluation—Results

Level 1: Reaction: This level basically measures how employees are getting trained and the reaction of the employees about the training program. It must be ensured that trainee feels a positive prospect about the environment, instructor, course content, materials after the program.

They should measure this training program as a valuable experience in their career also. It is also necessary to measure reaction because it will help to understand perceived prospect from a trainee’s perspective. It can also be a valuable judgement for future trainees and further advancement of the training program. Learning (Level two outcomes) and Behavior (Level three outcomes) are unlikely to occur unless participants have positive attitudes toward the training program.

Level 2: Learning: This level measures about what the training program participants learned during the training event. Because the training instructor should have specific learning objectives, one hopes to find clear learning outcomes. Objectives can be measured after the training ends that all of those objectives fulfilled properly or not. There is another thing mentionable that learning outcomes can be judged form different point of view. This objectives can be a starting point to measure the learnings outcomes effectively as those objectives were set previously before the training starts. Learning outcomes can include changes in knowledge, skills and attitudes. Some training events will emphasize knowledge, some will emphasize skills, some will emphasize attitudes, and some will emphasize multiple learning outcomes. The evaluation should focus on measuring what was covered in the training event. (Kirkpatrick’s Four-Level Training Evaluation Model, 2015)

Level 3: Behavior: This level measures on the job behavior. Behavior refers to the visible change of performing tasks differently on the job. It must be observed that whether trainees applying the knowledge they have got in their training program. It can be measured through any of the performance evaluation technique. Level three evaluation specifically involves measuring the transfer of learnings from the training context to the workplace. Learning is likely to transfer only if the conditions in the work setting are favorable for transfer. Judgement must be collected from the peers, subordinates, or immediate senior/supervisor of the trainees.

Level 4: Results: Obviously, this level is all about result measurement. Level four outcomes can include other major results that contribute to the well-functioning of an organization. Level four includes any outcome that most people would agree is “good for the business.” The output from the training program is weighed here from the perspective of a work group or organization. What type of result will come depends on the objective of the training program. (Fisher & Schoenfeldt,

2004)

Limitations of Kirkpatrick’s Model

• Kirkpatrick’s model does not consider a wide range of individual and organizational prospect that can influence training effectiveness before or after the training program. It says that the program is solely responsible for any outcome that might not be appropriate for a large organization like central bank. (Kirkpatrick, 1975.)
• This model separates the training and trainee’s efforts form the system, context, and culture where the learner operates. (Noe, Hollenbeck, Gerhart, & Wright, 2013)
• This model assumes that data provided in upper level is more informative than the lower level. It may conclude that Level 4 will provide most useful and important data about the effectiveness of the training program which might not be correct.
• Kirkpatrick’s model is appropriate for a profit generating small or medium organization who have no other bindings of social responsibility except CSR activities. But here, it is to measure the effectiveness of foundation training program of central bank

Level-1: Reaction

Employees’ Feelings about the Training Program

It is the interview question to the trainee that is required to find out whether the reaction of the trainees about the training program is positive or negative. And it is very important to have a positive reaction toward the training. If the reaction is negative then the level two and level three outcome is not likely to occur.

It is good to say that every interviewee/trainee felt positive reaction towards the foundation training program that is provided by Bangladesh Bank Training Academy. But there are few different valid opinions exist behind this reaction as a reason.

Few employee finds the environment BBTA provides is the most important positive factors that brings out the final positive achievement. In environment, they considered about the instructor, course content, presentation style, scheduling, audiovisuals etc. BBTA hires renowned economist and the best facilitator of a sector as an instructor. Surely these experienced persons have the highest capability of providing a vast amount of knowledge to the trainees. They have their unique style to teach them.

Besides, newly recruited trainees find those big guns at a classroom where they uses this as an opportunity for networking. One of the trainee mentioned about to get a chance of face to face conversation with former governor of Bangladesh Bank. It is not required to say that this opportunities make them feel positively towards the training program.

Few trainees mentioned about the facilities as strength. Accommodation facility is worth mentioning among them. Trainees said that it is a vital factor that contributes to the positive feelings of the training program. The reason is a considerable number of Assistant Directors are employed at outside of Dhaka City. When they are recruited at BBTA for foundation training program, they had to live Dhaka for six months. It obviously incurs a huge amount of cost. But at BBTA, they get all the facilities together as a package totally free of cost. They get library  facility for 11 hours in a day and lab facility 12 hours in a day. Even Assistant Directors living within the city, can avail a room at BBTA hostel free of cost if they want it.

Foundation Training program includes a rural outreach program, four industry visit and a foreign program in its course content. In rural visit, directors visit an outlying rural area and get a chance to see the rural people’s lifestyle. They stay in this visit for a week. They also have four industry visit to get a brief knowledge about an industry though a specific company. They visit at India for two weeks under a foreign program where they closely observe functioning of Central Bank of India. Few trainees find this program as a motivational factors which obviously made them feel positive towards this training program.

I have got a completely different counsel too. One of the trainee’s reaction was positive because it was mandatory and an increment has given after completion of foundation training program. Bangladesh Bank provides an extra increment for the employee who passes the foundation training program successfully

Level-2: Learning

Employees’ Knowledge after Attending the Training Program

This is the question I asked to the supervisor about the employee who is immediate boss/senior who observes his immediate junior or assistant. So this learning outcome can be observed better by the supervisor of the trainee who recently completed his foundation training program. Previously I said that foundation training program plays a very important role to get every employee of central bank in a common platform so that everyone has a minimum knowledge of banking industry and the economy of the country. There is a very little scope of hands on activities within the program to evaluate trainee’s practical knowledge of implementing theories.

Besides, learning outcomes can be judged form different point of view. As supervisor was an Assistant Director once and also an experienced person, he gave an insightful opinion about the learning outcome when I asked the question to him. He said that as foundation training is objected to get employees in a common platform by giving overview of banking industry and the economy of the country, it is very hard to determine the knowledge level an employee gained during the training session. He added that he can conclude a comment on a trainee from the perspective of the job that he and his assistant are doing but judging learning outcomes of the whole training program for a trainee on the basis of his single opinion would not be appropriate.

After that he mentioned about the knowledge level of a trainee as a department supervisor which is also very intuitive. As foundation training program gives an overview about all the departments of central bank, a trainee concentrate more specifically on the topic related to the department he was previously working for. Although it’s been seen that the trainees have learnt something that contributes to the desk job efficiency, it can’t be concluded by a specific departmental supervisor that the trainee has the needed knowledge about all departmental contents that foundation training program provided.

Employees’ Feelings about the Difference of Their Knowledge Level After the Training Program

This question is from trainee’s perspective. Here, trainee discusses about his own development of knowledge from the past to present.

I found out that difference of knowledge level is depending on an individual trainee. As foundation training’s primary objective is to get every employee gather into a common platform of banking industry, it depends on the trainees educational background. It’s been seen that a newly recruited Assistant Director who is from non-business background tend to have a little knowledge about banking industry. Whereas a trainee who is from business background tend to have a sound knowledge about existing banking industry.

In this cases, trainee who is from non-business background finds the training program very interesting from the very beginning to the end. As a result, the trainee really feels a noticeable difference of his knowledge level about banking industry. On the other hand, a trainee who is from business background finds the training program not as useful. They already have basic understanding of the banking system and the economy, so much of the foundation course’s curriculum becomes repetitive for them. Still, learning about the processes within the central bank helps them understand the organization in a better way.

Supervisors’ Observation about Employees’ Knowledge that’s Making a Difference from the Past

My previous question was asked to the trainee where he described the difference of knowledge level he feels after attending the training program. Now the same questions have been asked to the supervisor if he can see any difference on the trainee after the program.

Previously I said that foundation training programs were arranged twice a year for the newly recruited Assistant Directors. BBTA provides training for half of the directors at once. So half of the directors stays 6 months in their job location and then get posted to the training house for 6 months.

Here, the supervisor gave an arguable comment. He said that when a trainee is posted for the training program right after joining in the service then there is no scope to know about trainee’s knowledge level before the training. Besides, if the trainee is posted for training after 6 months, still then it is very much difficult for the supervisor to evaluate the trainee’s knowledge within this short period of time. Moreover, trainees sometimes join with a new department right after the training program completion. So new supervisor of that department also find it difficult to compare trainee’s knowledge level.

He also mentioned that as foundation training program’s primary objective is to gather all the central bankers in a common platform. Usually, trainees has some difference of their knowledge level from because of their educational backgrounds. He said that most of the newly recruited employees are form non-business background. They may have a little knowledge about banking industry as they secured their job in a bank from this competitive job market, still there is a big difference between the central bank’s functions and a commercial bank’s activities. After foundation training program, these trainee get to know Bangladesh Bank better.

Level-3: Behavior

Employees’ Capability to Perform the Job Without Any Assistance

This question is asked to the supervisor to make a comment about his assistants who have finished the foundation training program. This question falls under Behavior phase. This level is all about the transfer of the learning outcomes of level 2: Learning. Learning is likely to transfer only if the conditions in the work setting are favorable for transfer.

Supervisor transpired that the relation and consistency between foundation training program and desk job of a trainee is very low. In some cases, it is totally irrelevant and inconsistent. So in short, foundation training program helps a little to employees to perform without assistance. But from the perspective of a supervisor of a central bank, he said that foundation training program brings out the maturity of an employee as a central banker. Trainee gets a scope to know about the culture and functioning of central bank. However, it does not intend to serve supervisor or the desk job anyway.

Employees’ Applying the Knowledge to Their Daily Job Activity

This is also a question which is asked to the supervisor of the trainee. Here, supervisor is asked to evaluate the daily job activity of his assistant. Trainee must apply their learnings from the training program to their daily job. But it is often seen that effective training programs sometime fails to be consistent with the daily job activity of an employee. In this case, it is the same.

It is already found from the “Level-1 evaluation: Reaction” that trainees really reacted positively towards the training program. “Level-2 evaluation: Learning” reflects that trainee’s get the essence and culture of central bank rightly that is provided on foundation training program.

“Level-3 evaluation: Behavior” is all about transferring the learnings to the daily job activity where it would be fair to say that trainee gets a little scope to apply learnings on their daily job activity. Supervisor said that foundation training is all about giving an employee the basics of central bank and banking industry rather than educating trainees as bankers.

Supervisor also added that it’s not the all that foundation training does not help in daily job activities. There is a course in training program which teaches directors about the basic of Microsoft word, power point, excel, access (database) and other basic computer skills which is used every day. Trainees get greatly benefitted with that session as most of them don’t have that knowledge from the beginning.

Bangladesh Bank recently introduced automation process. Under the new automated system, the bank has its own server which is called “Intranet Portal”. In foundation training program, there is also a session which teaches the trainees how to use the intranet. As Bangladesh Bank uses this portal in every possible way, it became very important for the assistant directors to learn as they will use it throughout their tenure.

Level-4: Result

Employees’ Productivity

This is the question of “Level-4 evaluation: Result” that is asked to the supervisor of the trainees. This level outcomes can include results that contribute to the well-functioning of an organization which is any outcome that is “good for the business.”

As I have already mentioned, foundation training organized to gather all the central banker employees to a common platform where they will avail similar amount of knowledge about the banking industry with the proper monitoring process and functioning of central bank. So here, employees from non-business background are mostly benefitted and employees who have commerce in educational background are benefitted less. Besides, they got a chance to learn things from the country renowned instructor and economist.

Supervisor said that all this facilitation can be considered as human capital investment that cannot give a return to an organization within a short time. It takes a long time to get benefitted from the employees especially from a training program like foundation training where trainees are only taught theoretically. But in the long run, it will transform the human capital investment into human development. So it is very hard to determine the improvement of productivity within such a short time from foundation training program.

Supervisor also added that every organization has their own style of functioning. Bangladesh Bank has also a distinguished way of functioning as well as monitoring which made them apex regulatory authority in the industry. It does not only regulates and monitors others but also cares for the Peoples Republic of Bangladesh. Foundation training is the way through which organization communicates its values with newly recruited employees and implants its culture to the trainees’ life. It inspires them and made them feel privileged so they become responsible not only for the organization but also for the people around them. So if a trainee get the organizational values properly and implement them inside and outside of the workplace, the employee themselves will do the task that central bank intend to do. After all, it will facilitate the organization and sooner or later, central bank’s productivity will be improved.

Findings

Level 1 Evaluation—Reaction: Participants’ reaction is totally positive towards the foundation training program provided by BBTA house. The main reason behind these are alluring environment, facilities and course contents of the program.

Level 2 Evaluation—Learning: From the perspective of central bank’s overview and country’s economy, participant get to know about the style and unique functioning of Bangladesh Bank. From the perspective of the department, learning outcome is very little.

Level 3 Evaluation—Behavior: The trainees becomes more matured as a central banker and they get professionalism in their daily activity. Participants can apply only basic computer skills directly to their daily job activity.

Level 4 Evaluation—Results: As it is all about the central bank, foundation training program objective is to gather everyone in a common platform. This program communicates its core values with employees. It implants the culture of responsibility and a sense of privileged in the mind of trainees.

As learning outcomes can be judged from different point of view, only a supervisor’s opinion will not be enough to evaluate trainees’ learnings.

Foundation training program is more focused on personal development of the employee rather than bringing back a fruitful return for the organization.

Recommendations

Training program should include department rotation schedule as a course content which will take place in head office. As foundation program gives overview about baking industry and all the departments of central bank, it will be really helpful for the participants if they get a chance to relate their theoretical knowledge practically in the department.

• BBTA house should arrange a post-test evaluation of the foundation training program which would take place with the participants who completed training minimum 1 year ago so that they get to know about the opinion of the previous participants. They can help BBTA house by recommending new things to include and some other existing contents to exclude.
• There should be at least a session reserved in training schedule which will focus on the next transfer posting of an employee so that participant can apply gathered knowledge to the activities of their future department.
• Course content should be updated regularly so that participants get to know about the recent affairs of the banking industry and the economy.
• Currently an increment is given to all the trainees after the completion of the foundation program. In this way, there is hardly any incentive for the trainees to do well in the training program. My suggestion is that the trainees should be given the increment only of they have obtained ac certain score in the training evaluation. The benchmark score would be set keeping in mind the differences in the trainees’ background.

Further Scope of Research

Foundation training by nature is a long term focused generalized training. This program objects to gather all the central bankers to a common platform and provides the basics only. Employees get the return of this kind of training program throughout their whole service life. As this training is not intended to get an immediate return for the organization, it opens the door for the researcher to conduct a research about its effectivity after a certain period of time. So further research can be done with the participants who has done foundation training program minimum 5 years prior to the research.