Career-Banking Sector In India

Career-Banking Sector In India
August 9, 2015 8 Comments Uncategorized Preety Uzlain

If you’re good at Maths and English and want to make a
career in Banking Sector, then this is the right time to make a move. Most
government and private banks in India are currently recruiting or planning to
do so in the near future. Banks have also been expanding their branch and ATM
network in a big way due to which they need trained human resources on a large
scale.
In the last few decades, the banking industry has
experienced fundamental changes. The example of Hema Malini Venkatraman is an interesting
case in point. After completing her graduation with gold medal in the 1980s
from a very famous college of an average Indiantown, she was asked by the media
if she wanted to become an IAS officer or try some other field. She remarked
that she wanted to become a Probationary Officer (PO) in a bank. Not only her
parents but even her school teachers as well as the media were stunned at her
answer that instead of attempting to qualify for an IAS exam, such an
intelligent girl wanted to become an officer in the bank. Such reactions were
quite obvious at that time because civil services then had around one thousand
vacancies a year whereas banks barely had 40-80 vacancies. If any bank ever advertised
for over 100 vacancies, it used to be a huge sensation. But now the scenario
has changed and a large number of vacancies are advised. Now is the time for
those who want to opt for career in banking.
Growing Opportunities
The retired Assistant General Manager of Vijaya Bank, AP
Singh says that the nature that the nature of expansion of the banking sector
is such that new branches are being opened in the villages and thus
well-trained personnel are the need of the hour. He further adds that suburban
areas in almost all cities are also expanding with new colonies growing at a
fast pace. No sooner does a new colony come in; a bank branch is needed
instantly. Once a bank makes a debut, the rest follow suit. Another observation
that he makes is about the changing nature of services offered by banks.
He says, earlier government and private sectors banks used
to provide services pertaining to deposit and remittance of money, loans and
debt. But, now banks are also selling insurance policies and offering services
in the financial fields such as mutual funds & strategic investment plans.
With this, the range of services has increased and so has opportunity for
employment.
Recruitment Scenario
According to hansmukh Aditya, Secretary, Central Bank, this
year’s recruitment would certainly not be less than that of the last year. Dr.
Upendra Sah, a lecturer in the department of economics at the Tilka Manjhi
Bhagalpur University, analyses the possible recruitment in the banking sector
in a different way. According to him, every year, thousands of officers are
retiring in almost all the old government banks. This number is among the
highest in bigger institutions like the State Bank. Naturally these seats have
to be filled soon to ensure the organization smooth functioning. Additionally,
in rural as well as urban areas, private sectors banks like government banks,
are also opening their new branches and want to expand their business aggressively.
Though the number of employees and offices in the newly opened branches is
less, yet, at least five to six people are recruited. Additionally, providing
license to several new banks is in line this year. Public sector company IDFC
and the non-banking finance company NBFC Bandhan are said to have received
licenses to open banks. Bandhan has even announced the commencement of banks
operations formally from next month. According to a non-official estimates,
this year there is likely to be 60-80 thousands vacancies and recruitments in
the banking sector.
Indian Banking System
Dr. Upendra Sah says that the Indian banking system is very
strong and holds the complete Indian economy strongly. The strength of this
system could be taken into account with the fact that a few years back when the
world economy was under the threat of recession, Indian economy came out
largely unscathed because of its strong banking system. After independence, the
story of banking regulations began with the banking regulating acts of 1949.
That time banking system was completely private and most of the rough edges
were found in this system. Later in1969, 14 banks were nationalized. After 11
years, in 1980, 6 more banks were nationalized. Among these, New Bank of India
was merged with Punjab National Bank. As of now, there are 19 nationalized
banks in India whereas the number of State bank of India and its subsidiary
banks is six. In private sector there are 18 banks whereas an announcement
regarding license to two more banks was made.
The Process of Bank Recruitment
There is a common written test for the recruitment which is
conducted by the Institute of Banking Personnel Selection-IBPS. This test is
being conducted twice in a year for recruitment in 19 government banks. The
State Bank of India with its constituent’s banks conducts its own test separately.
Now after appearing in one test, they will be eligible to seek employment at several
banks. For the Government banks, including the regional ones, IBPS holds a
joint online examination followed by interview. Pre-examination training is
also arranged for SC/ST candidates. For a job in a regional rural bank
knowledge of local language is also required. In the private sector, there are
no set selection criteria or process. They recruit according to their own
process. Many private banks usually prefer campus selection.
Category of the Banks
and Name Government Banks
State Bank and its co-coordinating units (State Bank of
Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Patiala, State Bank
of Mysore, State Bank of Travancore)
PUBLIC
SECTOR BANK
PRIVATE
SECTOR BANK
Allahabad Bank
Catholic Syrian Bank
Andhra bank
City Union Bank
Bank of Maharashtra
Dhan Laxmi Bank
Bank of India
Federal Bank
Bank of Baroda
Jammu & Kashmir Bank
Canara Bank
Karnataka Bank
Central Bank of India
Karur Vaishya Bank
Corporation Bank
Lakshmi Vilas Bank
Dena Bank
Nainital Bank
Indian Bank
Ratnakar Bank
India Overseas Bank
South Indian Bank
Oriental Bank of Commerce
Tamil Nadu Mercentile Bank
Punjab National Bank
Axis Bank
Punjab & Sind Bank
Kotak Mahindra Bank
Syndicate Bank
HDFC Bank
UCO Bank
ICICI Bank
United Bank of India
Indusind Bank
Union Bank of India
Yes Bank
Vijaya Bank
IDBI Bank
Bhartiya Mahila Bank
About The Author
Preety Uzlain Preety Uzlain, MBA-Business Management, Director, CEO & Founder of SHAKSHARTA Digital Learning Private Limited. She has done BCA, MBA and Pursuing Doctorate as per my education qualification and has been one of the main proponents of www.govtjobspreparation.com & www.sarkarinaukri.asia for several years SINCE 2009.
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  1. 1

    Soniya Singhal

    There are various banking exams held every year in India. Candidates can go in banking sector via IBPS exam. Various students apply for IBPS exams. But rarely, some of them clear the exam. Try to practice reasoning test for upcoming banking exams.

    Reply
  2. 1

    HIMT

    Your blog provided us with valuable information to work with. Thanks a lot for sharing. Keep blogging.

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    1. 1

      Preety Uzlain

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    Sai Santosh

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      Preety Uzlain

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      Preety Uzlain

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      Website Link :https://govtjobspreparation.com/
      Channel 1 Link : https://www.youtube.com/user/preetyuzlain/featured
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      Preety Uzlain

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      Channel 1 Link : https://www.youtube.com/user/preetyuzlain/featured
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