1:24 pm - Thursday December 8, 2016

CAREER OPPORTUNITIES IN THE BANKING SECTOR

CAREER OPPORTUNITIES IN THE BANKING SECTORGrowing Opportunities The retired assistant general manager of Vijaya Bank, A P Singh says that the nature of expansion of the banking sector is such that new branches are being opened in 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 sector 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 sector such as mutual funds and strategic investment plans. With this, the range of services has increased, and so has opportunity for employment.

Recruitment scenario According to Hansmukh Aadilya, 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 sector 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 bank operations formally from next month. According to a non-official estimates, this year there is likely to be 60 to 80 thousands vacancies and recruitments in the banking sector.

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 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-ordinating units (State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Patiyala, State Bank of Mysore, State Bank of Travencor).

Public Sector Bank Allahabad Bank, Andhra Bank, Bank of Maharashtra, Bank of India, Bank of Baroda, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Indian Bank, India Overseas Bank, Oriental Bank of Commerce, Punjab National Bank, Punjab & Sindh Bank, Syndicate Bank, UCO Bank, United Bank of India, Union Bank of India, Vijaya Bank, IDBI Bank, Bhartiya Mahila Bank

Private Sector Bank Catholic Syrian Bank, City Union Bank, Dhan Laxmi Bank, Federal Bank, Jammu & Kashmir Bank, Karnataka Bank, Karur Vaishya Bank, Lakshmi Vilas Bank, Nainital Bank, Ratnakar Bank, South Indian Bank, Tamil Nadu Mercentile Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank, ICICI Bank, Indusind Bank, Yes Bank.

Filed in: Bank Exam Guide, Exam Guide

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