The Banking Sector in India
The Banking sector in India has always been one of the most preferred destinations for employment. In this decade, this sector has emerged as a sunrise sector in the Indian economy. Banking sector index has grown at a compounded annual rate of over 51 per cent since the year 2001.The Banking Industry is recruiting in a big way. In the next five years , banks will have to recruit almost 7.5 lakh people .
Now, banks have diversified their activities and getting into new products and services that include opportunities in credit cards, consumer finance, wealth management, life and general insurance, investment banking, mutual funds, pension fund regulation, stock broking services, custodian services and private equity etc. Further, most of the leading Indian banks are going global, setting up offices in foreign countries themselves or through their subsidiaries.
The expansion of the banking sector and its convergence with the other financial sectors such as insurance, NBFCs and Capital markets, retirement of the existing employees and financial inclusion have created more number of opportunities in the banking sector.
Infrastructure, Risk Management, Banking and Financial Services, Management Information Systems and Customer Relations Management are a few areas where specialization is expected.
Career as a Bank Probationary Officer (PO):
A Probationary Officer’s post is the entry to the most coveted managerial positions in the banking industry. A P.O. starts as a trainee officer in the Junior Management Grade Service (JMGS) of the bank and can rise to the highest grades of the bank in his career becoming a General Manager, a Director or even the Chairman of the Bank.
Needless to say, a Bank PO’s position is seen with tremendous respect in the society as it secures a life long opportunity to grow, prosper and serve the society in a senior and responsible position in the Banking industry. And, therefore, every Bank...