Why Banking Industry?

  • Introduction

    The Demand for opting Banking sector as a career is increasing day by day . Banking is considered as a backbone of any developing or developed country & India is not an exception to this .Our country's banking system is so robust that even in major fall in economy in the year 2008 ,it was least affected

    Banking sector has a very bright future henceforth & it has a strong reason for that. Every transaction in our day to day life is linked to bank in some or other way whether it is individual or corporate .Our Country also has huge population of almost 125 crores. As per world bank's report bank account penetration has reached to 53 % in India & only 15 % of Adult A/c's are in use .Still long way to go & huge potential for penetration in Bankable population.

    With RBI approving new Bank License to run their branches & Payment bank module on his way in India , banking aspirants has bright future in coming time . Banking sector does not demand any particular educational background rather all different kind of professionals like engineers, Doctors, IT professionals ,MBA graduates get equal opportunities . For freshers ,itsan excellent opportunity to understand financial world & opens the doors of various job profiles. Unless n until people stops banking , business stops working (which is next to impossible), banking has a bright future . Studies has shown that broader access & participation in the financial , banking sector can boost the job opportunities. Which ultimately results in to improved financial condition of youth of India which leads to healthy financial position of our country .

  • Career Opportunities

    Banking jobs are supported by variety of career options and every opening in banking sector has some sort of banking element in it like,

    1) Legal
    2) Accounting
    3) Taxation
    4) Customer relations Management.

    Career in banking & Finance has proved now a days a hot choice of youngsters and number of private and international banks set up in the country have opened up tremendous opportunities to the deserving candidates.

    Types of Banks & Different Job Profile opportunities
    1) Public Sector Bank
    2) Private Sector Bank
    3) International bank
    4) Regional bank
    5) State Co Operative Bank
    6) Central Co-Operative Bank
    7) Agriculture Credit Societies
    8) Investment Banks & Specialised Banks: These support the client on his investment & also provides the financial assistance . They also helps in Foreign exchange transaction, sale& purchase of equities, trading etc to their clients.

    Banking Sector has two important departments
    1) Liabilities
    2) Assets

    Liabilities Department comes under day to day banking transaction like A/c opening , cash transaction, FD etc . various job profiles include
    1) Teller / Clerks
    2) Customer service Officer /Personal Banker/ Probationary Officers
    3) Relationship Manager
    4) Business Development executive
    5) Branch sales Manager
    6) Branch operations Manager
    7) Branch manager

    Above branch manager are exclusive positions like Cluster Head ,Circle Head . Retail Banking also has different verticals like Salary ,Forex , Investment Advisory , Share trading etc.
    Asset Side department is a Loan department which caters to following loan departments
    1) Home Loan & mortgages
    2) Auto Loan
    3) Commercial Vehicle Loan/ Construction equipment Loan
    4) Gold Loan
    5) Credit cards
    6) Educational Loan
    7) Loan against Shares
    In both of the departments , Back end processing units also plays a very important role. Audit & Compliance department is also a very crucial department of bank. Various software companies also required bankers for different job roles.

    Majority of the Banks offer better packages & promotions are based on performance & experience. You can see now a days young & smart Branch Managers . Gone are the days where promotions were given based on number of years served . In case of public sector banks all types of graduates can apply through entrance exams for various posts like IBPS. It is estimated that public sector banks can create vacancies up to 7 Lakhs in near future !!!