Banking Career: Job and Career Opportunities in India

16Aug,2019
By Bibhor Mohanta

The banking sector is one of the emerging sectors for a developing country like India. Banks are considered as the backbone of the nation’s economy. The only bank can lead the nation towards development or relapse. The banking sectors are growing rapidly in India. Now a day for the youngster bank sector is one of the best opportunities for careers in India. Day by day the vacancy in the banking sector is increasing due to the introduction of many private sectors in India. Banks provide investment banking, insurances, mutual funds; fixed deposit, online trading, etc. New candidates are attracting toward the Bank job because it provides security, high salary comparison to other sectors, a good number of holidays, advancement skills, etc.


Types of Bank in India: The bank of India can be categorized as follows: 

Commercial Banks

A commercial bank is a type of financial institution that accepts a deposit, offers to check account services, making various loans, and offer basic financial products like saving account to individuals and small business. 

1. Private Sector Banks (Axis Bank, HDFC bank, Federal Bank, City Union Bank, etc) 

2. Public Sector Banks (Bank of India, Bank of Baroda, Canara Bank, State Bank of India, etc) 

3. Regional Banks (Grameena Vikas Bank, etc) 


Co-operative Banks

Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world. These can be further categorized into parts: 

1. State co-operative banks (Delhi state Co-operative Bank, Chandigarh State 

2. Co-operative Bank, etc) 

3. Central co-operative Banks (Central cooperative Bank of India, The  National 

4. Central Cooperative Bank of India, etc) 

5. Primary Agriculture Credit societies  


Investment Banks and Specialization Banks

These provide financial assistance to its customers and provide necessary support like foreign exchange, sales of equities, foreign trading etc. to its customers. Some of the examples of Investment Banks of India are Kotak Mahindra Bank Limited, Deutsche Bank, etc. 


Job opportunities in Banking sector in India 

A candidate can start his/her career as a banker as per the qualification. For most of the banking jobs, a candidate has to qualify the entrance exam with excellent communication skill and leadership quality. There are some posts for the banking sector which are as follows: 


1.Sub-Staff

An aspirant can start his/her career as a sub-staff. This is the lowest post in any bank. Minimum qualification for this post is 10th pass. You are appointed as a peon or sweeper in the branch or any administrative office. The rank of sub-staff increase as per the requisite educational qualification during the tenure at the bank. 


Salary for Sub-staff- The salary of Sub-staff in public sector banks ranges from Rs 9,560/- to Rs 18,545/- per month.The salary increase as per his/her post increase.  


2.Clerical Cadre

A graduate degree is most important while you are choosing a front line post in any commercial bank. Aside from you need to qualify the entrance exam with required basic computer skill knowledge as well as communication skills. The job line for the Clerical Cadre as account opening, passbook entry, fixed deposit opening, marketing of various products of the bank, etc. 


Salary for Clerical Cadre- The junior Associates or Clerk or Single window operator in public sector bank gets a salary around Rs 23,111/- per month. The salary increases with time and with increase post.  


3.Probationary officer

This officer is also called Management Trainees. Direct entrance through conducted by SBI and IBPS a candidate can get into this post with some required skill. The Probationary Officer manages the cash, account opening, compliance part, etc. Someone can rise up the rank of the head of a bank if she/he joins as a PO in any commercial bank. If a candidate is good enough then she/he can also make it as the Deputy Governor of RBI. 


Salary for PO in public sector banks- The salary for JMGS I (Junior Management grade Scale I) or PO in banks range from Rs 23,700/- to Rs 42,020/-. The salary is hike as per the grade increase.  


4.Specialist Officer

Specialist Officer means taking care of a special department. The recruits offer in different fields such as IT, HR, Agriculture, Marketing, Planning, Corporate Finance, etc.  


Salary of SO- The salary of an IBPS so scale I after his/her appointment will be approximately between Rs 30,000 to Rs 38,000 


5.NABARD Officer

NABARD means The National Bank for Agriculture and Rural Development. Being a NABARD officer you have better knowledge about the rural economy. You need basic knowledge about the industries as well. Through the NABARD exam, you can get into the organization.  


Salary for a NABARD officer- The salary for a NABARD officer is approximately RS 61,000/-. 


Skill Required: 

Basic few skills are very necessary for a banker which are as follows: 

Customer Dealing

More customer more money, more money strong bank. So ultimately strongness depends upon with the customers. So a candidate has to require good customer dealing capacity.

Patience

Patience is the key weapon for a banker. While dealing with a customer it is very important to keep patience because one single rough word can change your entire environment. 

Good in Calculation

In every finance sector, it is very important to be good in the calculation which enhances your capability with accuracy.   

Team Work

Work with a team is very difficult because everyone has its own Moto. Only teamwork can lead your organization towards success 

Organization and time management

More you fast with accuracy, more you save time and time-saving management is a very necessary thing in the banking sector. 


Now the banking sector is one of the leading sectors in India with high job opportunities. We gave you some information about jobs and career of the banking sector. Those candidates are interested in this career to choose the right track for getting a post into this sector. 


Read also : Aspiring to be a Banker?? Do You Have These 6 Dynamic Skills??


LATEST NEWS


BITSAT 2020 Results Announced for Iteration 6
AMU 2020 announced Answer Key for departmental courses; Check here
SNAP 2020 Second Round Mock Test Registration Last Date Today
NTA released Answer Key for UGC NET 2020; Check details here
Jamia Hamdard invites Admission Application for NRI or sponsored category students
TN NEET UG Rank list 2020 Announced
DU has Deferred the Admission Process for Entrance Based Undergraduate Courses
UPSC Announced DAF-1 for IFS Main 2020
UPSEE Round 3 Seat Allotment Result 2020 Announced
UP NEET 2020 Round 1 Counselling Result Declared
AMU 2020 Admit Card Released, Download Hall Ticket now
UPSC CMS 2020 Result Declared, Check Here
OJEE Round 2 Seat Allotment Result Announced
GATE 2021 Correction window for registration Closes Today
KMAT 2020 Result Announced, Download Scorecard
TS EAMCET 2020 Announced Seat Allotment for Round 2
NEET MDS 2021 Application Form Correction Starts, Edit Form Here
IPU CET 2020 Round 1 Cut off List Released for BTech
BITSAT 2020 Declared Result for Iteration 5
MHT CET 2020 Answer key: Raise Objections Today till 1 pm
SPPU 2020 Result Out
NEET Counselling 2020: MCC Extends Round 1 Reporting Date, Check Details
IIIT Delhi M.Tech for CSE, ECE and CB Admission Started, Check Details Here
Odisha MBBS, NEET Admission 2020-2021: Registration Begins
TS PGCET 2020 Registration for Counselling started, Register Here
NMIMS Starts Registration process for Admission in MBA(Business Analytics)
MAHE takes over Srishti institute,Plan to start new medical collage in Jharkhand
LSAT India 2021 Application Form released for registration, Register Here
DU LLB 2020 Score Card released Today, Download Score Card here
MHT CET 2020 Results Out Today, Check it here
UPSEE 2020 Round 3 online Counselling Registration process Begins
UP NEET 2020 First round Counselling Merit list declared
MHT CET 2020 going to release answer key; Check details here
West Bengal Started Registration For NEET 2020 Councelling
ICAR AIEEA 2020 Released Counselling schedule, Check all Details
IPU CET counselling for B tech Admission 2020 dates (Out), Check now
Allahabad University Announced BA LLB And LLB Results 2020
IIM Amritsar Invites Application form 2020 for Executive MBA program Admission
JoSSA 2020 announced Seat Allotment for 6th round, check details here
LSAT India 2021 online Exam Announced, Starts from May 10

© 2020 | educationasia.in | All Rights Reserved