Sunday 11 August 2013

Opportunities in Banking Sector


Author: inteliclass
The concept of banking has become wide; it's more than a bank now. There are huge opportunities for the people who want to make their career in banking sector. The global financial meltdown that happened some time ago, affected the economy of countries badly but still our country was least affected because of soundness of Indian banking and financial system. The public sector banks have shown a big transition from traditional banking to modern. The entry of private banks and the foreign banks have increased the competition and changed the role of banking completely; they have taken banking to the next level.
The opportunities into banking sector seems to be limitless, it involves different functions. If you want to make your career into public sector, then banking jobs would be the best career option for you. Public sector banks are considered as the best Public sector to work with; as it provides you with Job Security as well as Job Satisfaction. Public sector banks in India employ a mass of people; of this large no. of people will be retiring in next 5-6 years. Around 7.5lakh people need to be recruited in the next 5years. It means in five years time the ratio of people working with PSU's will be 60:40, 60% of the staff working will be new and 40% will be experienced. Last year only about, 48,000 vacancies have been created in public sector banks due to retirements, business expansion and attrition.
Earlier banks recruitments were done by the Banking services recruitment Board (BSRB). Each board was taking care of group of banks in particular region. The model of BSRB was not very clear so, IBPS came into the picture and BSRB was abolished completely. IBPS is a government body called Institute of Banking Personnel Selection under which 19 PSU's are there. Who conducts exams on behalf of these banks, this body helps the banks in bridge the gap.
IBPS has conducted exam last year on 18th Sept 2011, 13 million candidates have registered for the exam, out of which 8 million appeared for the same. The exam was conducted for about 70,000 vacancies it includes central government organisations, banks and some insurance companies. About 48,000 of these jobs for public sector banks alone. IBPS also conduct exam for Specialist Officers as well as for Clerical Post. For specialist officers exam was conducted this year in the month of March; mode of exam was online. From this year IBPS has changed their pattern of taking exam earlier it use to be offline but from now onwards it will be completely online. It clearly reveals the fact that public sector banks are providing big career opportunities for the people those who want to get into banking sector.
If you want to start your career with banking sector then ‘Probationary Officer' is probably the first step you can start with. And, for which you have to clear the exam of IBPS for PO which is conducted twice a year. For this year the registration forms are out and last date of registration is 17th Aug, 2013; and exam will be in the month of October 2013- 19,20,26 or 27.
Public sector banks are few organisations which gives internal growth to its employees, promotion from one cadre to another. Public sector banks may not offer very huge packages as MNC's or other private companies but the other benefits are provided includes housing and medical facilities, and the biggest factor is job security which is really very attractive.
Many public sector banks having network of foreign branches as well, this may provide you opportunity to working abroad also. Transferability in a bank job provides you opportunity to explore different parts of the country and it also helps in breaking the monotony. 
About the Author
Inteliclass – a part of Intelivisto Consulting India Pvt. Ltd, the education sector is set to experience a new and effective methodology for preparation of various competitive exams through e-learning or ONLINE learning. It helps students in preparing for exams like IIT JEE Entrance Exam, CAT, MEDICAL, BANK PO, etc.

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