Our economic reforms are designed to be systematic and cohesive. These policies have made it possible to grow the Indian Banking sector to great levels. This in turn has generated many jobs thus giving a chance to people to experience the functioning of the banking sector. Working in the Indian Banking Sector requires a thorough knowledge of commercial practices.
Indian Banks –
After the Banking Regulation Act, 1949, 14 of the big private banks were nationalized. By the year 1980, a total of 20 banks were operating under government ownership. Today, there are 27 public sector banks which operate in India. Of these, 19 are nationalized and 8 are from the State Bank group. These banks have rapidly upgraded their system of functioning to match modern technology thus attracting more and more clients and personnel.
Career Prospects –
Candidates can look forward to a fruitful career in the banking sector. There are many positions for which one may be selected. These are posts of managers which follow a certain hierarchy from junior managers to top managers. One may apply directly to this banking sector after which examinations are conducted and once the merit list has been drawn, the candidates are sent for training and are then appointed to their respective positions. Public sector banks have also started to conduct campus recruitments. This helps them to come across different potential candidates who are picked directly by the officials of the bank.
The Indian Banking Sector is surely a fine sector to make a career in. Recent policy revisions in this sector have ensured that employees benefit more with increments and quality packages. Also, there is a sense of job security which dwells amongst the employees who also get to enjoy housing and medical facilities. For young people who are waiting to rise in the banking sector, this could be their chance to make a difference and conquer the sector with their ambitions.