Career in Banking

Career in Banking

Banking today is a niche career for enthusiasts in the field of commerce and accounts. Banks in India are not only strong but are also growing fast. According to studies Banking Sector is one of the fastest growing sectors in the country. This growth has brought many opportunities. Public sector banks in India employ more than 7 lakh people at present. Of these a large number of people will be retiring in next 5-6 years. To fill this gap and to take up the growing business the Banks are on a recruiting spree as can be seen in media and from vacancy announcements. Only this year about 40,000 vacancies have been created in public sector banks due to retirements, resignations and expansion of business. Earlier officers were recruited only in Junior Management Grade. Now public sector banks are offering direct employment in middle and senior management cadres as well. Thus for both freshers and experienced people career opportunities are available in public sector banks. To meet their manpower requirements these banks are presently recruiting in large numbers both in clerical and officer cadre.

Recruitment Process

The recruitment process of public sector banks includes competitive examination followed by an interview. Several public sector banks, regional rural banks and cooperative banks recruit personnel, based on the performance of candidates in the competitive examinations conducted by the Institute of Banking Personnel Selection- IBPS.

What is IBPS ?

Institute of Banking Personnel Selection is an autonomous body set up by the banking industry to cater to its recruitment needs. It is responsible for providing opportunities who seeks an employment in these 20 public sector and Regional Rural banks:

• Allahabad bank
• Andhra Bank
• Dena Bank
• UCO Bank
• Vijaya Bank
• Indian Bank
• Bank of Baroda
• Bank of India
• Bank of Maharashtra
• Canara Bank
• Central Bank of India
• Corporation Bank
• Punjab National Bank
• Punjab & Sind Bank
• 15. Syndicate Bank
• Union Bank of India
• United Bank of India
• IDBI Bank
• Indian Overseas Bank
• Oriental Bank of Commerce

IBPS recruit Probationary Clerks, Probationary Officers and Specialist Officers based on performance of candidates in competitive examinations conducted by the institute.

However, RBI and SBI conduct separate examinations for recruitment for their banks. To begin your career in the banking industry, you can take one of the competitive examinations, based on your academic background and aspirations.
IBPS Common Written Examination is now mandatory for anyone who seeks an employment in 20 public sector and Regional Rural banks.

List of Various Exams for Different Cadres conducted by IBPS

• IBPS CWE Clerk for Clerical positions conducted once in a year.
• IBPS Specialist Officer held time to time and covers specialist positions in banks.
• IBPS RRB Officer to the Regional Rural Banks (RRBs) governed by NABARD.
• IBPS CWE PO/MT for the position of Probationary Officer or Management Trainee. IBPS PO is conducted once in a year.