Shattering of Glass Ceiling among Women in Indian Banking - Financial Sector

Abstract

Today, economies are characterized by the increasing importance of services, wherein financial services have gained greater significance due to the ease of flow of funds across countries. One of the key factors responsible for the recent growth in the Indian economy is the emergence of a considerable number of women entrepreneurs. The Indian banking sector plays a prominent role by providing financial assistance to these women entrepreneurs. The expanding role of women entrepreneurs compelled the Indian banking sector to employ more women, who are also considered more efficient than male employees. The financial sector is no doubt perceived as a competitive sector. Given the expansion of services, the presence of excellent human resources, and the interaction of the sector with society, the story of the banking sector cannot be complete unless we consider the issue of women employees. This paper attempts to highlight the glass ceiling issue in the Indian banking sector. The issue of women's lack of larger representation in the top management leadership of public and private organizations has come to be known as the glass ceiling in recent times. Over time, several studies have revealed this glass ceiling effect in corporations as well as in organizations, which are visible in the lower representation of women at top levels in these organizations. Discussions on the causes commonly revolve around the issues of sex bias in the workplace, reluctance of women to compete for top leadership positions, women's difficulty in balancing family and work life, and women's lack of education or experience. This paper attempts to focus on the status of Indian women employees at the branch and regional levels of the banking sector and also the glass ceiling faced by women employees in banks. The paper also tries to suggest steps that can be taken to break this glass ceiling in the banking sector of India.