In India banking sector is considered as one of the post preferred destinations for jobs and in subsequently years, banking sector will be recruiting lakhs of candidates for its various posts. With the new exam “Common Written Examination (CWE)” coming in the recruitment process has become simple.
IBPS (Institute of Banking Personnel Selection) conducts a series of CWEs for selecting candidates for various posts like Probationary Officer/Clerks/Management Trainee for Regional Rural Banks and Public Sector Banks.
Majority of banks have introduced new products and services such as insurance, investment banking, credit cards, mutual funds, etc. Apart from this most of the top Indian banks have setup offices in abroad countries, which also open the door for employment in banking sector for various posts.
Banks conduct exams for the following cadres - Bank Probationary Officers (PO), Bank Clerks or Probationary Clerks and Bank Specialist Officers (SO)
Usually, bank exams are of following types –
The sequence of (CWEs) Common Written Examinations, which is conducted by IBPS (Institute of Banking Personal Selection), is a prerequisite for selecting candidates for PO/ Clerk/ Management Trainee/ Specialist officer’s posts in 20 Public Sector Banks and Office Assistants in 82 Regional Rural Banks
- SBI and associate banks of SBI conduct exam for recruitment for the posts of clerks and officers.
- Exams conducted by Private Sector Banks for recruitment of candidates for the posts of Clerks and officers (IBPS CWE)
Major Recruiters in Banking Sector –
Public Sector Banks are the one in which majority of candidates aspire for taking up bank jobs. Below we have listed the Public Sector Banks, Private Sector Banks, Regional Rural Banks –
State Bank of India Group –It has 8 banks under the group namely – State Bank of Hyderabad, State bank of Travancore, State Bank of India, State Bank of Mysore, State Bank of Patiala, State Bank of Jaipur, State Bank of Bikaner and State Bank of Saurashtra.
Other Public Sector Banks in India – Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Dena Bank, IDBI Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, Punjab National Bank, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India and Vijaya Bank.
Private Sector Banks – AXIS Bank Ltd., Capital Local Area Bank Ltd., City Union Bank Ltd., Coastal Local Area Bank Ltd., Development Credit Bank Ltd., ICICI Bank Limited, IndusInd Bank Limited, ING Vysya Bank Ltd., Karnataka Bank Ltd., Kotak Mahindra Bank Limited, Krishna Bhima Samruddhi Local, SBI Commercial and International Bank Ltd., Tamilnad Mercantile Bank Ltd., The Bank of Rajasthan Limited, The Catholic Syrian Bank Ltd, The Dhanalakshmi Bank Limited, The Federal Bank Ltd., The HDFC Bank Ltd., The Jammu & Kashmir Bank Ltd, The Karur Vysya Bank Ltd., The Lakshmi Vilas Bank Ltd., The Nainital Bank Ltd., The Ratnakar Bank Ltd., The South Indian Bank Ltd and Yes Bank Limited.
Regional Rural Banks– In India there are about 82 Regional Banks across the country.
Career as a Probationary Officer –
In the banking sector Probationary Officer’s (P.O) posts is an entry level for most of the managerial positions. A probationary officer beings his career as a trainee in the junior management and later he/she can move to the top level as a General Manager/Manager/Director and even to a Chairman position.
Every year lakhs of candidates apply for Probationary Officer’s post to vie for few hundreds and thousands of vacancies notified by various banks. In India bank P.O position is considered as well reputed career in the society.
Career as a Bank Clerk –
A candidate who has passed class 10th is eligible to apply for clerk post in a bank. The candidate gets training from the bank staff and training colleges and is given an opportunity to rise to the higher levels of the management through various departmental exams in the bank. He/she also gets the chance to learn in Finance, Management, Banking and other areas through various national level institutions that are setup for bank education.
Career as a Bank Specialist officer –
Recruitment exams are also being conducted for Specialist Officers post to maintain the finance, marketing, legal. Human resource and other departments those are open for candidates having professional qualifications.
Banking sector is one of the highly paid sectors in India. Those who want to pursue a career in this sector can earn a pay scale of Rs.10, 000 to Rs.20, 000 per month at an initial stage. When a candidate earns sufficient experience and knowledge one can earn a salary in between Rs.30, 000 to Rs.35, 000 per month and candidates who have passed out from top B-schools and banking institutes can earn upto Rs. 8 lakhs per annum.