Career In Banking Sector In India l Jobs & Growth Options In Banking Sector

Career In Banking Sector In India:

In India, A Career in Banking Sector In India is highly lucrative with limitless job opportunities and professional growth options for the youth. We congratulate all of you for rightly choosing the banking sector for a rewarding career. India is a developing economy and banks are the financial engine that drive industrial growth. Banking sector is by far the fastest growing industry with innumerable employment opportunities, good prospects of growth, and highly attractive salaries.

Career In Banking Sector In India

The public and private banks have geared themselves for the Indian market by recruiting a large number of talented candidates with good aptitude. The large number of vacancies that are advertised regularly indicate a booming industry, and the selected candidates for banking jobs can earn status and reputation. Banks offer international scale financial services, and a large number of national and foreign banks offer you the golden chance to become an effective and prosperous banker.

How to Become a Banker:

Different types of bankers offer their services in various personal, commercial and investment banks. Every banker has unique responsibilities and he or she performs a specific role within the banking organization. A personal banker interacts with customers on an individual basis and provides solutions. Commercial Bankers deal with prospective entrepreneurs in a professional manner to sanction risk free loans. Investment bankers handle complex tasks involving high profile clients, investment opportunities, and portfolios

Basic Requirements of Job:

The following table specifies common details pertaining to bankers in general –

Common Requirements:

Degree Level Graduation from a recognized and reputed university or institute
Degree Field Most preferred subjects are Finance & Business Administration
Certification (Recommended) A Bachelor’s degree + 4 Yrs. relevant work experience + successful completion of 3 Yrs. of intensive exams
Key Skills Mathematics, Business, Communication, and Customer Services

Jobs & Growth Options In Banking:

Banking professionals are always in demand because of dynamic business environment. Just go for the banking sector if you are a graduate with numerical, logical, and reasoning skills. In India, You have to work hard and grab opportunities for a healthy Career in Banking Sector.

Positives Points:

The demand for Banking employees is steady and bank jobs are advertised regularly in press and online media. Privatization and economic reforms have multiplied the requirement for banking professionals in India in recent years.

Candidates from different academic streams such as Science, Arts and Commerce are eligible for banking jobs. Apply after acquiring the basic knowledge, skills, and diplomas that are essential in banking organizations.

Banking jobs have attractive and high salaries, and the candidates can also seek overseas placement. The bankers can aspire for professional advancement and work on their personal growth as the opportunities are plenty and meaningful.

Career Opportunity In Banking Sector:

Banks are essential for developing economies such as India, as they provide valuable and essential services. The banking sector acts as the backbone for growth and it offers a wide range of career choices. Candidates can aspire for posts such as clerk, MT (Management Trainee) and PO (Probationary Officer). The other popular job titles associated with banking include loan officers, bank tellers, financial service representatives, bill collector, accountant, financial managers, audit clerks and bookkeeping associate.

Ratnakar Bank Recruitment MDCC Bank Recruitment 2017
Upcoming Bank Jobs 2017 District Cooperative Bank Recruitment

Types of Banks in India:

There are 3 main categories of  Banks including Commercial Banks, Cooperative Banks, and Investment and Specialized Banks.

Commercial Banks:

There are 3 different types of Commercial banks that are mentioned below:

  • Public Sector Banks
  • Private Sector Banks
  • Regional Banks

Functions Of Commercial Banks:

  • Mobilize Savings for Capital Generation.
  • Providing capital for Industry, Trade, and Agriculture.
  • Providing financial assistance for Consumer Activities
  • Generate Employment by energizing the economy.
  • Provide assistance in framing a Monetary Policy.

Co-operative Banks:

Small and medium enterprises as well as farmers and rural population depend on these banks for their financial needs. Co-operative societies manage the long term effects and control the day to day operations of these banks. Co-operative Banks are further subdivided into the following three banks –

  • State Co-operative Banks
  • Central Co-operative Banks
  • Primary Agriculture Credit Societies

Investment Banks and Specialized Banks:

Investment and Specialized Banks offer unique services that include large scale financial assistance to high profile customers. They also offer vital assistance in matters pertaining to equity management, foreign exchange, and foreign trade.

Courses in Banking Sector:

The candidates seeking a career in banking sector can pursue short term and long term courses. Private and public sector banks regularly select candidates with degrees in B.A, B.Com, and B.Sc.. Even intermediate or 12th pass-out candidates can secure a rewarding banking sector job. The following courses are relevant :

  • PG Diploma In Banking
  • Diploma In Banking & Finance
  • MBA In Finance & Management
  • Courses In Chartered Accountancy And Financial Analysis
  • PG Diploma In Investment And Banking
  • Courses In Commerce Finance, Accounting, Auditing And Taxation

List of Entrance Exams for Bank Jobs:

The following list of Banks Examinations are qualifying in nature, and successful candidates can get recruited at the respective bank or financial organization –

  • IBPS Common Written Exam for Probationary Officer
  • State Bank of India Probationary Officer
  • Private Banks exam (conduct their own aptitude tests)
  • IBPS Common Written Exam for Clerical Recruitment for PSUs
  • State Bank of India Clerical
  • Common Written Exam for Regional Rural Banks
  • Common Written Exam for Specialist Officer
  • IDBI Bank Executive Exam
  • RBI exam
  • RBI assistant exam
  • NABARD AM exam
  • Others

Jobs in Banking Sector:

Banking sector offers ample opportunities for enthusiastic candidates, and the following job designations and post titles are very popular:

  • Subject Matter Specialist
  • Communications Manager
  • Manager
  • Administrative Officer
  • Officer Scale
  • Office Assistant
  • Probationary Officer
  • Law Officer
  • Management Trainee
  • Accountant
  • General banking officer
  • Clerk
  • Private Secretary

Services of Banker:

Bankers are responsible for providing prompt and efficient financial services to their valuable customers. The services include request processing, opening different types of accounts, management of fixed deposit certificates, loan processing, and various other financial operations. The financial services include handling trusts, deposits, investment accounts, and credit lines. The selected candidates are trained by the banking organization to assist consumers in all banking related matters. The customers’ accounts have to be managed on a regular basis by the banker. Based on the designation or job title, the banker handles either personal, commercial or investment banking services. Bankers display communication skills to offer effective financial services and build strong customer relationships to ensure the bank’s reputation and brand name.

Tips for Getting Hired:

  • Display mathematical and quantitative aptitude to clear written exams.
  • Revise your accounting and financial skills learnt in school and college.
  • Interview performance is crucial and you have to be calculating and confident.
  • Attend the interview in a formal dress with shoes, ties, watch, file, etc.,
  • Communicate your subject knowledge in an effective manner.
  • Be flexible and show enthusiasm to work long and extra hours.

Interested candidates can also check the more information:

Bank Placement Papers Bank PO Exam Preparation
Bank Interview Questions and Answers Bank Coaching Institutes
Bank Interview Questions How to Get Bank Jobs

Conclusion:

If you are interested in a banking sector job, Go through the above details in a thorough manner. On this page, You have comprehensive details related to bank sector career options, bank exams, job titles, services offered by banking staff, and interview tips. You can also access the latest syllabus, exam pattern, and study material of all competitive exams at our web portal.

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Updated: May 31, 2017 — 3:43 pm

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