Banking has emerged as one of the most favourable careers option among the young generation today. Bank is consider as a backbone of country’ economy. We have seen the recession in 2008 which have a least affect in our country’s banking system because of our strong banking and financial system.
Banking system in India is among the fastest growing Industry that has open the path to various career opportunities. Besides Public sector banks there are many private sector banks which are providing tremendous opportunities for career growth. So you can start your career in a banking industry and reach at top level of in hierarchy if you are willing to learn and hard working
Now the Question arises Why to choose banking as career?
Banking sectors provide fast career growth and it offers excellent career options to all types of aspirants to whatever field they belong. It is having a quick selection process as compared to any other one day exams like SSC, Railways, ARO, etc. Banking exams are conducted in three stages i.e., prelims, mains and an interview. In less than six months an aspirants gets the result of their hard work made during preparation. Here are some more points why you should choose banking as a career:
- Job security and stability
- Higher growth scope
- Handsome salary and incentives
- Safe future after retirements
- Easy availment of any type of loan in much less rate of interest
- Reputable job in the society
- Not much work load at an earlier stage. After promotion some work load will be there but you will get a handsome salary in return
- There are various facilities provided by bank like lease, cleaning expenses, entertainment expenses, medical expenses, etc.
Different types of Bank
- Public sector banks- These are the banks where majority of shares i.e. above 50% are held by Government of India. Major Public sector banks are Punjab National Bank, Bank of Baroda, Union Bank of India, Bank of India, Canara Bank, Syndicate Bank, etc.
- Private sector banks- These are the banks where majority of shares i.e. above 50% are held by private individuals. Some of the private banks are ICICI bank, HDFC bank, Axis bank, Kotak Mahindra Bank, etc
- Regional Rural Banks- These banks are established under Ordinance passed on 26 September, 1975 and the Regional Rural Bank Act, 1975 to finance agriculture and other rural sectors. The Regional Rural Bank are owned by the Central Government, State Government and Sponsor Bank (any commercial banks) in the ratio 50:15:35. At present there are 43 RRBs in India.
Preparation for banking career- There are usually there major position in banking industry i.e. Bank clerk, Bank PO and Bank SO. The selection process of all three are same i.e. Preliminary examination, Main examination and an interview.
Short description for Recruitment of Bank clerk
- Minimum age of an individual should be 20 years and maximum age should be 28 years
- Candidate should be a citizen of India and must be a graduate
- SC/ST , OBC and person with disabilities will get the relaxation in age for 5 years, 3 years and 10 years respectively
- Preliminary examination is consists of 3 paper i.e. English language, Numerical Ability and Reasoning Ability of 20 minutes each.
- English Language paper consists of 30 marks and Numerical/Reasoning Ability is of 35 marks each. Total time given is 60 minutes
- Mains examination consists of 4 paper i.e. General/Financial Awareness, General English, Quantitative Aptitude, Reasoning & Computer Aptitude
- Interview consists of 100 marks
Short description for Recruitment of Bank PO
- Minimum age of an individual should be 20 years and maximum age should be 30 years
- Candidate should be a citizen of India and must be a graduate
- SC/ST , OBC and person with disabilities will get the relaxation in age for 5 years, 3 years and 10 years respectively
- Preliminary examination is consists of 3 paper i.e. English language, Numerical Ability and Reasoning Ability of 20 minutes each.
- English Language paper consists of 30 marks and Numerical/Reasoning Ability is of 35 marks each. Total time given is 60 minutes
- Mains examination consists of 4 paper i.e. General/Financial Awareness, General English, Data Analysis & Interpretation, Reasoning & Computer Aptitude. For detail kindly visit here.
- Interview is of 100 marks
Short description for Recruitment of Bank SO
- Minimum age of an individual should be 20 years and maximum age should be 30 years
- Candidate should be a citizen of India and must be a graduate
- SC/ST , OBC and person with disabilities will get the relaxation in age for 5 years, 3 years and 10 years respectively
- Preliminary examination is consists of 3 paper i.e. English language, Numerical Ability and Reasoning Ability of 20 minutes each.
- English Language paper consists of 25 marks and Numerical/Reasoning Ability is of 50 marks each. Total time given is 60 minutes
- Mains examination consists of only 1 paper testing your professional knowledge
- Interview consists of 100 marks
For understanding more about banking careers kindly visit below to know more:
Top level Certificates in Banking Industry:
- Certificates in Customer service & Banking codes and standards
- Certificate examination in IT security
- Certificate Examination in AML/KYC
- JAIIB/CAIIB certificates
- Certificate course in Digital Banking
- Certificate for Specialist Officers of Banks
These are the certificates provided by IIBF. To know more about different certificates and examination procedures, kindly visit here.
Associate Degree in Banking and Finance- This is a two year programme in Associate of Applied Science in Banking and Finance. This programme is specially designed to prepare students for entry level jobs at banks, insurance agencies and other financial institutions. Students are given an opportunities to do internships in banks or financial institutions.
That’s all about careers in banking industry. Hope you have understood better. Thanks for visiting us !