Working in the banking sector comes with its set of advantages. If you are employed at a bank, you can enjoy a high salary and job security. Several young people are opting for jobs in banks because of this. The sector offers exciting opportunities and career growth prospects, if pursued sincerely and with passion. It is one of the best career tracks to opt for.
Established in the 15th Century, the Indian Banking Sector has grown tremendously along with the Indian economy. Today, there are 21 public sector banks in India, along with several private banks. Since 2001, the sector has grown with a compound annual growth rate of 51%. In the next five years, the sector is expected to recruit 7 lakh people. The sheer size of the banking sector presents several options for candidates. Banks such as SBI, Union Bank, Axis Bank, etc. employ many people each year, both experienced as well as freshers.
Our website offers you all the information you need to get started. Here, you can avail various notifications released for jobs at public as well as private banks. Complete information such as the important dates, the eligibility criteria, application and selection procedure at the banks is available.
To apply for a job at any bank, you are required to pass and qualify the entrance exam. After qualifying the written examination, there are usually interview rounds. Candidates who make it through all of this successfully can expect a bright and fruitful career in banking. For public sector banks, he Institute of Banking Personnel Selection (IBPS) conducts a common entrance exam. All public sector banks, with the exception of SBI who conduct their own test, participate in this exam. Private sector banks have their own qualifying exams.
For different levels of recruitment, banks conduct different exams. They are listed below:
Bank Probationary Officer (Bank PO): After 1 – 2 years of training, candidates are assigned as managers at banks. Candidates may be appointed as Assistant Manager, Deputy Manager, etc. The candidates are required to have a basic degree from any Indian University. These are the most sought after roles, and are highly respectable as well as well-paid positions.
Bank Clerks: The clerical jobs at banks are normally entry level opportunities. The clerks have access to several learning opportunities in areas of their choice such as IT, Finance. Several senior officers at banks start their careers as clerks.
Specialist Officers (SO): These are special profiles such as IT, HR, Finance, Marketing, etc. Specialist officers may be required to possess advanced degrees such as MCA, MBA, etc. based on the requirement of the position as is notified by the bank.
Each year, government banks employ over one lakh candidates, making it the most lucrative option for those seeking a career in the government sector.
Exam Pattern:
The written exam in conducted in two phases: Prelims and Mains. The exams are designed to check the candidate’s General Aptitude. The Preliminary exam has 100 questions spread over the following categories: Quantitative Aptitude (35), Reasoning Ability (35), and English Language (35). Once you pass the Prelims, you appear for the Main exams, which test your Quantitative Aptitude, Reasoning Ability, English Language, General Awareness and Basic Computer Knowledge spread over 200 questions. After the written exam, is the interview. However, there are no interviews for clerical positions. The scores of the candidates from the written test are not revealed until after the interview. Upon completion of the interview, a merit list is realized based on the score in the written exam and interview. The cut-off scores and vacancies vary each year. Any unfilled positions are subsequently offered to remaining candidates based on merit.