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assessment of the external business landscape withthe keen awareness of how to enhance profitabilityand then executing the strategy to deliver the desiredresults.3. Endurance : Steve Ballmer, Chief Executive Officerof Microsoft, often emphasizes the importance ofpatience for succeeding in business. He believes thatproducts and businesses go through three phases:vision, patience, and execution and the patience stageis the toughest and most uncomfortable.4. Equality : In a turbulent global economy, the dilemmaamong the business and HR fraternity continues to bewhether to implement short-term strategies and quickfixes, or to take a patient, long-term approach towardssustainable development. Though there is always afreedom of choice, the consequences are usuallyinterrelated to the path that either the business or HRchooses.5. Self-discipline : The practitioners of HR willnormally be confronted with situations requiringnegotiation. Self-control is the essence of negotiation.When negotiating, especially when discussions arespecial featureemotionally charged, the best strategy comes innot reacting but to focus on our objectives and worktowards achieving it. The greatest obstacle is oftennot the opposition but ourselves.6. Risk-taking ability : Risk taking is an integral partof business and life. It is thus, quite relevant forHR Managers to take calculated risks in dealingwith people and impacting the bottom line of thebusiness.HR Management is not the responsibility of theCorporate Office alone. It should percolate down tothe micro level as well. Sensitizing the people factoris an essential business strategy and those who dealwith people at all levels need to regard them as animportant element and link to facilitate business.Team leaders at every unit should focus on keepingthe team morale at its high by timely appreciationand recognition of good efforts. Creation of a bondsustains relationship and helps in effective EmployeeEngagement.Expert Committee on Licensing of New Urban Cooperative BanksIn the light of the past experience regarding newly licensed UCBs becoming financially unsound in short span of time and the prevailingprecarious financial health of the UCB sector, the Reserve Bank issued a comprehensive policy in 2005 on UCBs with a view of improving thefinancial health of this sector. It was also decided not to issue any fresh licenses thereafter for new UCBs. The Reserve Bank entered intomemoranda of understanding (MoU) with all State Governments and the Central Government for coordination for regulatory policies andencouraged voluntary consolidation in the sector by merger of non-viable UCBs with financially sound and well managed UCBs . Pursuant tothese policies, the share of financially sound banks has increased from 61.3 % in 2005 to 80.3% in 2010. As the financial position of the sectorimproved considerably, UCBs were permitted to enter into new areas of business.Against the backdrop a Committee (Chairman: Shri Y. H. Malegam), has been set up for studying the advisability of granting new urban cooperativebanking licenses. Further, as announced in the Second Quarter Review of Monetary Policy 2010-11, the Committee was advised tolook into the feasibility of an umbrella organisation for the UCB sector. The terms of references of the Committee are as under :1) To review the performance and role of UCBs over the last decade and especially since the adoption of Vision document in 2005,2) To review the need for organisation of new UCBs in the context of the existing legal framework of the UCBs, the thrust of financial inclusion inthe economic policy and proposed entry of new commercial banks into the banking space,3) To review the extant regulatory policy on setting up of new UCBs and lay down entry point norms for new UCBs,4) To examine whether licensing could be restricted only to financially sound and well managed cooperative credit societies throughconversion route,5) To make recommendations relating to the legal and regulatory structure to facilitate the growth of sound UCBs especially in the matter ofraising capital consistent with co-operative principles,6) To examine the feasibility of an umbrella organisation for the UCB sector,7) To examine other issues incidental to licensing of UCBs and make appropriate recommendations.The Journal of Indian Institute of Banking & Finance July - September 2011 33