BANKING

CAREER IN BANKING SECTOR

Banking industry is second to none in providing an attractive job opportunity. Be it job satisfaction, salaries and perks or time for family life, it provides a person with so many allurements that jobs in this sector are tempting. Moreover, banking industry has become an essential part of everybody’s life. We are becoming increasingly dependent on the banking system. The role of banking in the growth of economy as well as that of an individual can’t be denied. For this the continuous intake of specialized personnel becomes imperative.

Types of Banks in India

The banks in India can be categorized as following.

• Commercial Banks: The major role of the commercial banks is to enable businesses and entrepreneurs with the financial services. Commercial banks are further categorized into the following.

1. Private Sector Banks
2. Public Sector Banks
3. Regional Banks

• Co-operative Banks: Co-operative banks mostly benefit the rural people like farmers, small scale industries etc. These are controlled and managed by the co-operative societies. These can be further categorized into

1. State co-operative Banks
2. Central co-operative Banks
3. Primary Agriculture Credit societies

• Investment Banks and specialized banks: These provide financial assistance to its customers and provide necessary support like foreign exchange, sales of equities, foreign trading etc. to its customers.

 Most of these banks offer better packages today and give a performance and experience based promotion. In case of public sector banks, professionals like engineers, doctors, MBAs and lawyers are appointed based on the results in All India Recruitment Exam. Probationary officers (Bank PO) are also recruited in public sector banks based on the Common Written Examination (CWE) conducted by the IBPS. It is estimated that public sector banks are to employ more than 7 lakh people in the near future.

Posts
Recruitment in banks takes place at different levels:

I. Probationary Officers                       II. Clerical Level                      III. Specialist Officers  IV.RBI Grade –B Officers

Other Career Options in Banking Sector

Other opportunities available in banking sector are financial managers, Bill and account collectors, bank tellers, loan officers, financial service representatives, book keeping and audit clerks.

(I)IBPS PROBATIONARY OFFICER(IBPS PO):-

Key Info:

Course Duration : 6 Months

Classes : 15 hours per week

Material : Printed Study Material

Tests : 25 full length On-Line / Off-Line  Mock-Tests

Fees : Contact Centre

Ph.No.-9861277722 / 9090884522

About Bank PO

A PO or a Probationary Officer is basically an Assistant Manager of Scale I in a bank. He is a Junior Manager of Grade I scale and hence called Scale I Officer. After the selection criteria is completed, a Probationary Officer has to go through an intensive training program at Institute of Banking Management where they are trained. The probation period of a PO may last for 2 years. This again differs from bank to bank.

Role of a Bank PO

As the candidates selected for this post are young officers who have freshly graduated, they have a great enthusiasm within themselves. They are hardworking and have a zest to learn and hence they are imparted with some really serious responsibilities by the bank.

A PO is trained on multiple verticals such as finance, accounting, billing, investment etc. during his/ her probation period in order to acquaint them with various working procedures of the bank. This is basically done by entrusting them with responsibilities and jobs in these categories.

The main purpose of the bank is to provide optimal service to its customers. A PO has to make sure that the business of the bank keeps on increasing by tending to the banks’ customers properly by handling customer complaints, addressing various customer related issues such as discrepancies in accounts, rectification of undue charges etc.

When they get acclimatized to the banks’ norms they are provided with more serious responsibilities such as planning, budgeting, loan processing, investment management etc.

Bank PO Exam

Every year all the government as well as the private banks conduct Bank PO exams to recruit young officers. The major banks participating in this process are listed below:

• State Bank of India

• Allahabad Bank

• Bank of Baroda

• Bank of Maharashtra

• Punjab National bank

• Oriental Bank of Commerce

• ICICI Bank

• Cooperative Bank

• Cooperation Bank

• Syndicate Bank

• HDFC Bank

Educational Qualifications

The candidates who are wishing to appear in the exam should have a Degree (Graduation) in any discipline from a University recognized by the Govt. of India or any equivalent qualification recognized as such by the Central Government. With above  50% Aggregate marks.

 Age Limit

The candidates applying for the exam must age between 20 to 30 years. For General Categories.

Relaxation of Upper age limit

IBPS PO

IBPS PO: Prelims Exam Pattern

IBPS PO: Main Exam Pattern

(2). IBPS CLERK:-

Key Info:

Course Duration : 6 Months

Classes : 15 hours per week

Material : Printed Study Material

Tests : 25 full length On-Line / Off-Line  Mock-Tests

Fees : Contact Centre

Ph.No.-9861277722 / 9090884522

A clerk is mostly a front staff in a bank. Depending on the requirement, clerks are placed at different counters of the banks, e.g. savings, deposit, current deposit, term deposit, retail loans, cash credit, agricultural loans, credit cards, govt. business, cash receipt or payment, etc. Maximum customer interface in banks occurs at these counters managed by clerical staff.

Eligibility

The minimum age for applying for the position of a clerk in nationalised or private sector banks is 20 years. The maximum age limit is 28 years. The candidate has to be a Graduate in any discipline. As most of the recruitments in clerical cadre in public sector banks are made state-wise, the candidate applying for the post in a particular State is expected to be proficient in the language of the State. Proficiency means knowing to read, write, speak and understand the language.

IBPS Clerk