Banks – A highly lucrative career options.

The overwhelming growth of banks and other financial institutes in India has left a huge scope of career options for the dynamic enterprising young guys and girls. Here is a brief description that can help the young students to propel a triumphant victory in the banking segment. Finally it is your exuberance that counts!

Overview

Banking service in India has become one of the most demanding fields of service and for last three years, from 2007, most of the reputed Nationalized and private banks of India have been recruiting a huge number of young students for the banking service at a jet speed. The recent market surveys reveal, millions of banking personnel will be required for Indian banks in the upcoming years in various categories. Clerical Cadre and Probationary Officer are the two key prime categories, where the recruitment will reach sky high. The most demanding fields are-

• Probationary Officer (Manager).

• IT Officer.

• Chartered Accountant.

• Agriculture Officer.

• Clerical Cadre.

• Marketing Executive.

• System Administrator.

• Civil/Electrical Engineer.

• Law Officer.

• Security Officer and Other.

Application Fees Structure:

Naturally application fees vary depending upon various banks. The range varies from Rs-250/- to 300/- though in some recruitment range may go up to Rs- 500/- and more. There is a special discount for SC/ST candidates.

Applying Procedure:

In most of the application procedure online facility is available and the candidate has to fill the online form and has to send the downloaded copy of the application by attaching the demand draft and the concerned candidate should have valid email id for future reference and to obtain registration ID and Password details. Also in some bank recruitment processes, Chalan of the concerning bank has to fill the online form with the bank branch code and ledger no as the process of application. In this case documents are not necessary during the application phase, but they may be required at the time of final selection.

Availability of Exam Centers:

Written examination will be held at specific centers in all major cities in India . The candidates may choose any one of the mentioned centers where exam will be taken by the bank. The details are indicated in the application form. No alter of centre is generally permissible. Bank reserves the right to direct candidates to come into sight at centre other than the one chosen by them for written examination without any financial assistance (depending upon the bank).

Service Terms and Conditions:

Posts are permanent and the selected candidates on appointment may be posted or transferred to any place in India or abroad as may be decided by the Bank Authority.

Emoluments and Benefits:

Mostly Basic pay in the scale of Rs.11000-20000 (likely to be revised depending upon the bank) and other admissible allowances as applicable. Besides emoluments, other benefits like Gratuity, Medical Benefits, Family Personal Accident Insurance, Life Insurance Scheme, Pension, Tax benifit, Loan facility and other benefits as applicable and that may be extended as per rules of the Banking norms.

Bond Scheme:

Prior to joining as probationer, the preferred candidates will be obligatory to give an undertaking to serve the bank for a minimum period of three to four years including probationary period. In the episode of their resigning from the bank before the expiry of the bond period, they will be liable to pay liquidated damages depending on the length of service rendered. Besides, the candidate will have to submit a stamped Bond, duly signed. In many cases Candidates resigning from the bank during the probationary period shall be liable to pay the salary received by them during their entire service in the bank in addition to an amount of additional money. Also various rules are imposed depending upon the banking rules.

Guilty of Misconduct:

Candidates should ensure that they should not provide any particulars that are false, tampered/untrue or should not restrain any material information while filling up the application form. At the time of written examination or interview, if a candidate is found guilty bank has the right to cancel the candidature at any time and also may take legal action against the candidate.

Selection Procedure:

Type of test Taken:

Objective Type tests are taken for the banking exam. Mostly exams are held on the following as mandatory like-

(i) Reasoning.

(ii) English Language.

(iii) General Awareness.

(iv) Numerical Ability/Data Interpretation Test.

(v) Descriptive English.

And optional subjects are following though it depends upon banks’ recruitment policy-

(i) Professional Knowledge (for Special Posts)

(ii) Marketing Knowledge.

(iii) Computer Awareness.

(iv) Clerical Aptitude

Test Details:

In most of the banking exam like Probationary Officer and Clerical Cadre there is time given for the exam is near about 1 hour 30 minute to two hour even some cases 1 hour 75 minute is allotted and the number of question will be of 200 to 220 question for the first four mandatory section like Reasoning, English Language, General Awareness, Numerical Ability/Data Interpretation Test. To solve a question there will be 30 to 40 seconds is available to complete the full paper.

And there is descriptive paper on current affairs and social matter generally for PO exam and time given near about 45 to 60 minutes depending upon the banking exam.

GD- PI:

On the basis of performance in written examination, candidates will be called for Group Discussion & Personal Interview (GD/PI) and final selection will be made on overall performance in written examination and GD/PI. In the selection in some recruitment GD is not taken.

Age Criteria:

In between 21 to 30 years for the general candidate and there is age relaxation for SC/ST and OBC candidate as far government rules but some banks keep maximum age limit of 28 years. Relaxation for SC/ST candidates by 5 years and OBC candidates by 3 years.

Qualification for Probationary Officer:

For Probationary officer most of the bank preferred Graduation in any discipline with 60% (55% for SC/ST) from recognized University/ Institute duly approved by UGC/AICTE.

Qualification for IT Officer/ System Administrator:

For IT officer most of the bank preferred M.E./M.Tech (IT/Computer Science) / MCA (Masters in Computer Applications) / MIT (Masters in Information Technology)/ MCM (Masters in Computer Management) with 55% marks (50% for SC/ST) in aggregate or BE/B.Tech (IT/Computer Science) with 60% marks (55% for SC/ST) from recognized University/ Institute duly approved by UGC/AICTE. Also post qualification will be an added preference for the right candidate.

Qualification for Civil/Electrical Engineer:

Usually bank preferred Civil Engineering/ Electrical Engineering from a recognized University with first class. Candidates with post graduate degree will be given preference.

Qualification for Agriculture Engineer:

Most of the bank preferred Agriculture Science / Agriculture Engineering graduation from a recognized University with first class. Candidates with post graduate degree will be given preference.

Qualification for Clerical Cadre:

Mainly in bank exam preferred Higher Secondary (+2) with 60% or in some cases 55% is also preferred or Graduation in any discipline from any recognized University/ Institute duly approved by UGC/AICTE.

Qualification for Marketing Executive:

Post Graduate Degree / Diploma in Business Administration, Business Management, Finance, Marketing, International Business, Operations Management, Systems, HR Or M.Com, M.A. / M.Sc. in Economics or M.A. / M.Sc. in Statistics or C.A. / CWA / CFA / CS (Company Secretary). Candidates with post qualification and MBA in marketing will be given preference for banking exam for the management professional.

Qualification for Chartered Accountant:

In most of the bank examination preferred criteria is CA/ ICWA from a recognized University with first class. Candidates with post qualification will be given preference.

Qualification for Chartered Accountant Law Officer:

For the position of legal adviser prefers L.L.B from a recognized University with first class. Candidates with post graduation and post qualification will be added preference to the bank recruitment exam.

News Flash

State Bank of India , the unanimously recognized leader among the Indian banks is going to recruit around twenty thousand professionals in the recent future. The figure 20,000 sounds revolutionary, when most of the corporate are trimming off.

Conclusion

The unprecedented economic meltdown with its far reaching tentacles has closed the doors for enthusiasts in various professionals. On the contrary, the demand of the financial segment is continuously growing even in such an economic turbulent conditions. The most important advantage is that the finance segment allows qualified and energetic people from all groups. So, why not to try out to be in the mainstream?