All About Banking as a Career

Posted on : 25,January , 2017 - Wed , 04:56:07am

Banking Industry in India is a backbone of the Indian economy. Indian Banking system not only absorbed the setback of the meltdown of the world economy but also survived vividly. We all know, how bankers have worked during the note ban system and making the way to the cashless economy. The Indian banking system is a network of Public sector bank, private banks and Regional banks.
To make this system workable, no double banks have the efficient machinery. This is a rapid growing industry with all technical advancement which has made the road for opportunities to many candidates. This offers lucrative package and job satisfaction.
Scope in Banking Industry: Banking career is full of opportunities, be it the candidates from various and different background science, commerce, arts especially economics. It has many departments as accounting, law, taxes, investment banking, customer relationship management &public relations, etc. The full potential of international banking as well. It is a good opportunity for beginners as well because during the probation time they get trained by the banks.

Banking Industry divides into three categories:

Commercial Banks:
1. Private Sector Banks: ICICI, HDFC, American Banks.
2. Public Sector Banks: There is a long list of public sector banks, which are considered as government jobs in India. They are stable in nature. Few names are State bank of India, Canara Bank, Punjab National Bank, etc.
3. Reginal banks: It works at the state level for the purpose of depositary and Credit. Few regional banks are Andhra Pradesh Grameena Vikas Bank, the benefit Andhra Pragathi Grameena Bank, Allahabad, UP Gramin Bank, etc.
Co-Operative Banks: For the benefit of rural people like farmers, small scale industries, etc. Co-operative banks are controlled and managed by the co-operative societies.
Their further division is into three categories:
1. State co-operative Banks
2. Central co-operative Banks
3. Primary Agriculture Credit societies
Investment Banks and Specialized Banks: These banks assist customers and provide necessary support in foreign trading like foreign exchange, sales of equities, etc. to its customers.

Eligibility for Career in Banking:

To get into the field, there are two ways:
Clerical Entry:
Directly after 10+2 with 60% aggregate in any discipline.
Age: 18-28 years

Entry through written exams, conducted by IBPS:

Officer cadre entry: Broadly known as Bank POs/Management Trainee.
Graduation with 55% of marks.
Age: for Public sectors 21-30 yrs. Some private banks like ICICI have an age limit of 25 years old only.
Entry: Public sector banks conduct a common entrance test which is followed by personal interview of successful candidates in written exams. However Private banks take direct entry based on the educational qualification and performance in interview.
A career in Banking Industry us promising one, with the full opportunity of growing to the highest level and time to time pay-scale raise. It is satisfying also as in the Banking Industry, you directly have to deal with the public who has little knowledge and knowing about the technicalities of the banking system, like people who come from a rural area for agriculture loan, helping them in investing money as well. If you find this information good and interesting and it attracts you, then go for a banking career, it is for you only.