India is the second largest economy in the world. Development in areas of infrastructure and resources in recent years has enabled India to become a strong economic force. There is an increase in the number of candidates who are passing out of different colleges around the world in search of rewarding career opportunities. More and more skilled candidates may face stiff competitions with regard to the various career opportunities.

Banking Sector is one among the sectors which offer in ample career opportunities for freshers all around. The type of career that it offers is that of a secured profession with all kind of lucrative benefits. With the expansion of banking activities towards the rural and other sub- urban areas the demand for this career has been on a high.

We can see generally an inclination towards banking jobs. Even the candidates are opting for higher studies they may still try in for a banking sector job. One predominant factor may be the security feature which is being associated with it. The demand for government jobs have been increasing on a large scale even when MNCs and other private firms are also chipping in to the general employment scenario.

The demand for private job may be high but at the same time, the government jobs are being more attractive. A situation has come in where in the people who are working in private sectors are trying in for the various kinds of bank jobs by finding in time for going for training or coaching classes while working also. The general picture is of people who are opting for Professional courses too are trying for banking jobs as in more vacancies pop in their specific fields too.

An over view of the Banking Jobs in India!

As discussed above, the banking industry is emerging in a big way Nowadays, banking means a lot apart from the business perspective. It aims at delivering or meeting not only the financial needs of the customers that too both business and personal. Investment opportunities are tremendous nowadays with the advent of various ways of investment. Hence banks should help/point out new and correct methods for investments to the customers which is available in the market.

There are various areas where one can work in banking sector. The candidates can work in as a Clerk, Probationary Officer, Customer service Executive, managers, Front desk executive, Specialist Officer , Product marketing area , Sales executive , etc. The key for survival in this industry is the service quality.

Importance of Banking as a Career

Banking as career is very challenging in nature. One has the opportunity to move around and mingle with different people following different culture and traditions. The number of banks functioning in India is in large number .With more private players coming in to this sector such as ICICI, HDFC, Axis etc the level and the nature of opportunities in this sector has also be going up. Every banks are on the look out of more workforce in various sections.

Banks being both in public sector and private sector the number of vacancies have also gone up. The banks are offering variety of benefits to its employee’s. With the 6th pay commission, the pay structure has also been revised in all the major public sector banks too. Another aspect is that one can gain a status in this job as well social reputation. Due to these reasons, many people view this career as one of the most promising one.

Recruitment Aspects in banking jobs

As already being observed that there are growing opportunities in banking sector .Most of the banks are nationalized apart from some other private players in the industry. A banking job is just like any government career because of the steady flow of income along with other retirement benefits and allowances . Hence the banking career as such is very attractive.

Over the years, the banking scenario it self is booming. The general recruitment criteria’s is getting tougher day by day. The selection criteria’s especially in case of public sector banks involves many stages. Every candidate who is aspires to be a bank employee should undergo the written test conducted by the authority competent to get selection. The test may cover in all major areas such as Logical reasoning, quantitative aptitude, General awareness, Marketing and computer aptitude etc. Only those who have the capacity in clearing the preliminary stage of test are forwarded to the next level. Personal interview is also one area which needs in careful preparation.

The general eligibility for appearing in these exams may be a Graduate level. Again for specialist positions it may require additional qualifications too. The government bank jobs are now also open to undergraduates too again it depends on the nature of opening.

Need for Common Entrance Tests for banking Jobs

As like any other selection tests for Engineering and Medical or any other competitive exams like AIEEE , CAT, GMAT etc there is a rising need for introducing a system of Common entrance Tests in case of Banking sector too because of the rising opportunities in the banking scenario as well as the number of candidates applying to these too.

Indian Banking association has made a decision to bring in this system from next year onwards for recruitment in banking sector. IBA has decided as part of this system an initial screening will be done to prevent the candidates in appearing in multiple exams conducted by different banks with a number of vacancies. This system has been finalized by the Indian Banking Association and will come in to effect soon. This system will help the candidates in better preparation for the CAT and plan accordingly.

Important guidelines regarding CAT (banking)

Exams will be conducted twice in a year by the Institute of Indian Banking Personnel selection (IBPS) only for clerical, PO, and specialist’s posts only. Candidates applying for the same will be given a scorecard which will valid for one year. The banks who will be conducting exams will be inviting applications from candidates by specifying the criteria’s such as age, education, experience etc. The eligible candidates can directly proceed for the GD or personal Interview which ever is directed by the bank. Score card issued to the candidates enables them to apply for any public sector banks. This new method of selection is applicable to all the public sector banks except the State Bank of India & its 5 associate banks who will conduct separate tests as & when required.

Since banking sector has been opening up, with more and more opportunities coming up the demand for these government sector jobs have been on high. Even the people who are opting for professional courses are also trying in for the bank jobs simultaneously because of the career prospects that it offer.  Lucrative career benefits help the candidates to get inclined towards this sector. This process in turn helps in the overall development of the banking sector as such.