Bank jobs are considered as one of the most sought after careers in India. Good pay package, supplementary benefits, job security as well as a very good scope for growth are the main reasons why a large number of Indian youths are starting to get attracted to this lucrative career. Though a career in banking sector can sound to be meant for commerce or finance graduates but it does not hold true in the contemporary age. Nowadays, banks provide equal opportunities to graduates from all streams.
India is one of the fastest growing economies in the world with growth rate of 8-10% per year. This economic growth has resulted in various career opportunities in public sector banks, private sector banks and multinational banks based in India. Today we can observe that banks are into home loans, consumer loans, mutual fund, credit card business and forex activities. Every bank in India has been growing at a phenomenal pace with 30-40% growth Year on Year and all of them are centrally regulated by the Reserve Bank of India (RBI). Due to the hold of RBI on all financial institutions, banks in India including both public and private sector banks are not only highly profitable but also very stable.
These factors have also resulted in massive stability in bank jobs as well as high demand for banking professionals. Banks look for professionals having good communication skills, project analyzing skills, loan portfolio management skill along with good computer literacy. Public sector banks conduct recruitment drives in the form of written test and interviews at all India level. If you look at any of the advertisement of any Nationalized Bank recruitment drive, you can see there are opportunities for even 12th pass students with some computer knowledge at clerical level. Also there are general banking (Probationary Officers) posts for any graduates and special management posts in the field of Information Technology, finance and law practices and Marketing executive jobs preferably for MBA in Marketing. Even if someone joins at junior level (clerical) post he can reach senior positions with experience and enhancement in educational qualification. Public sector banks pay around Rs.6000/- to Rs.8000/- per month as base salary at junior level and Rs.25,000/- to Rs.30,000/- at senior level.
Earlier Banks used to impart training to aspiring professionals through an institution named National School of Banking. It used to prepare students for National level banks exams. Now-a-days same duty is managed by Institute of Banking Personnel Selection. You can visit ibps.in for further details. Also websites like bankbpo.in can help in preparing for exams as well as interviews. Solved question papers of previous exams and interview questions posted by senior candidates themselves are quite helpful in successfully tackling the recruitment process.
Banking exams in India normally comprises of papers on – 1. Reasoning Ability, 2. Arithmetic and Numeric tests, 3. General Knowledge and 4. English Knowledge. Apart from these common papers, depending on the nature of the job, additional papers on computer knowledge, finance and law can be included. Key factor in succeeding these exams is time management. About 225 questions are expected to be solved in about 150 minutes. It is important to equally divide your time to all the subjects and not to waste time in reading questions as in traditional exam papers. Quick decision-making is one of the key factors and an applicant needs to instantly decide on whether to attempt a question and should also solve the questions very fast without spending too much time on a particular question. Students scoring equally high in all subjects are short listed on merit basis.
So, the career prospects in banking sector in India are stable as well as lucrative and every candidate needs to be well prepared to the recruitment exams for bank jobs.