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Banking Jobs in India

Updated on September 3, 2011

Jobs in Banking

Indian economy has had certain innate strengths and it has come out almost unscathed despite many countries across the global struggling to recover from recession. With a steady growth particularly in the consumer banking sector, Banking Jobs in India are being perceived as the most coved jobs by the job seekers. Modern banking in India entails a complete understanding of a client's requirements both in terms of his personal as well business financial plans. If you have a strong aptitude for numbers, the required mathematical skills and an analytical outlook, then you have a variety of career options open for you in the banking sector in India.

Bank jobs are white collar jobs and one of the prestigious careers in India. Bank jobs are extremely lucrative, provide a lot of social security and growth opportunities are indeed promising. There are 27 nationalized banks and 31 private sector banks in India and employment opportunities – at various levels - are aplenty.

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Aspirants for bank jobs in India must, first of all, decide for which department in a bank, they wish to start their career. There are a variety of bank jobs including Financial Managers, Bank Tellers, Bill and Account Collectors, Loan Officers, Book Keeping and Auditing Clerks, Financial Service Representative etc

To get an opening in a bank, you have to be qualified and be eligible as per the bank’s recruitment policy. For example, to join as Probationary Officers in the bank, you will require minimum a Bachelors Degree. You will thereafter have to pass the Probationary Officers exam and come out successful in the interview.

Careers in Banking and Finance and Insurance

Candidates who join at lower levels can also attain managerial positions if the pass Chartered Associate of Indian Institute of Bankers (CAIIB) exams after gathering a few years of work experience. Even for clerical and lower level positions all aspiring candidates must pass the prescribed exams and succeed in the personal interview. Bank job seekers in India can visit website: bankexamsindia.com to get updates on bank exam syllabus and schedule. However, most nationalized as well as private banks widely advertise whenever exams for recruitment are held. Besides, each of the public sector banks, private sector banks and foreign banks maintain its own websites wd\here one can find details of job vacancies.

The pay scales for bank jobs are very attractive. At the entry level, one can expect a starting salary of Rs. 12,000 to Rs. 15,000 and a Probationary Officer can straightaway start earning upwards of Rs. 20, 000. Reserve Bank of India is the central bank of India it has the primary onus of managing finances throughout the country in accordance with the laid-down Government policies. RBI has offices in almost all state capitals, and it generates thousands of employment opportunities throughout its offices.

The State Bank of India (SBI) is the largest commercial bank in India with several hundred branches spread all over the country and overseas. SBI has many banking and non-banking subsidiaries, which are also catering to the banking and financial sector related needs of various regions. They regularly recruit candidates both at the officer as well as clerical levels.

All other nationalized banks, numbering 27, generate huge job opportunities and the scope of an aspirant landing on a bank job is indeed extremely bright. This apart, there are nearly 31 private banks who regularly recruit candidates in large numbers. India today has about 88 commercial banks including 31 private banks, 27 public sector banks and 38 foreign banks. India has totally 53,000 bank branches covering rural, semi-urban and urban areas. This will give an indication about the employment potential of banking sector in India.

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