The world changes rapidly. And with that every phase and sphere of human activity. Human life undergoes a continuous and flowing transformation. Static education imparted in your younger days does not enable you to keep pace with the knowledge needs for all time to come. So too with the world of Finance & Banking. Commerce & Business have come to traverse national boundaries. They turn multi-national and look to the entire globe for opportunities. Banking cannot be an exception.

What training and knowledge you need for a career in banking and for pursuing opportunities in the global sphere? Traditionally the most important Knowledge Content relevant for specialisation in banking profession are

1. Banking & Finance

2. Management, in particular Organization Management and Human Resource Management

3. Project Appraisal

Banking is the core subject. Banking itself is a part of 'Finance' The two are interwoven. Money & Banking form one core module in economics. A banker deals with finance. He mobilises savings of the public and creates capital as a wealth for the nation. Management is the subject that sustains every business enterprise. Management is the process that links and converts 'Inputs" to 'outputs' in any activity, where the return is based on prior investment to be made.

Each of these is a comprehensive subject branching out to several sub-titles.

The 21st Century, the new millenium, however, represents the unfolding of an Information & Knowledge revolution. Old management concepts are fastly changing. Today business and industry look for intangible resources i.e. knowledge capital for survival and growth. For example, it is no longer a discussion in business management on the topic of 'delegation of authority'. It is now bestowing empowerment to the employees. Personnel resources are rated as human capital of the organization. Employees are now deemed an investment centre and not a cost centre. The need for hardware is one time. But the demand for soft-ware is continuous and ever increasing. Here software means human talent. Better knowledge resources keep an institution ahead of others in the competitive world. This adds 'Knowledge Management' to the list of subjects that a progressive individual who desires to have a successful career in banking and finance, must acquire and keep updating.

The syllabi or contents for Learning Circle therefore have to keep pace with the emerging requirements of Indian Banking. In future the package of knowledge resources demanded may result in the traditional banking theory and practice to recede to the background and knowledge of Finance, diverse financial instruments and elements of the financial market to gain a prior importance. The new concept is universal banking and we need streams of professionals in universal banking.

Indian Banking however remains at least two decades old, trying hard to refresh itself. New management theories are important to us, but we are still not in a state of progress to discard knowledge of the earlier concepts. For several years as banker you may have to deal with both new age and old period corporate customers. Management is in a state of transition. To cope up with the scenario of this 'complex situation', we need to possess distinct skill resources, apart from the traditional learning we undergo.

For a bank employee the premier resource-provider for learning and knowledge seeking is the Indian Institute of Bankers. The Institute has recognised its paramount role to impart training to bank officers and employees in tune with the emerging needs of the new millenium. The Institute has recently revised and made its curriculum comprehensive and need-based, with a wider mix of general and specialised academic courses useful for bankers and for those dealing with finance.

The objective of Learning circle is to present literature modules that will be useful to supplement the learning courses of the Institute of Bankers to the young and ambitious bank officers in the threshold of their career. The web site tries to focus on this initiative and attempts modestly what it can contribute.

There can be no opportunity without a challenge and no return without accepting a risk. The future is bright to those who accept this fundamental maxim. What is the force driver that steers you through challenges and risks safely? It is KNOWLEDGE. And knowledge kept updated and relevant through continuous LEARNING.

To know more about Learning Circle and to be part of this exercise this is time that you move from this 'foreword' to the Title Page of this Initiative and view and review the information presented.