Benefits of Bank Jobs in India

by

The Banker

Historically, Indians have valued job and financial security very highly and continue to do so. In modern times, the IT industry has created an explosion in India revolutionizing everything from people’s lifestyle to their work ethics and expectations. Change is sweeping into every area of human life and many government departments including the bank jobs and is going through a great deal of growth and modernization.

Growth automatically equates to greater opportunities and Indians are vying with each other in the form of several competitive exams that are conducted in order to employ the brightest Indian minds for serious careers in various government departments including the banking sector. Growth and development in the banking sector has given rise to great many new career opportunities in diverse fields such as the share market, loan facilities, mutual funds, Demat accounts, insurance schemes — a vast range of services.

A total array of wealth development and management services has been made available by most of the banks in keeping with the competition from worldwide private-sector banks. This has allowed for people with specialized and technical knowledge to become employed with government banks and avail of both attractive financial as well as career growth opportunities. Areas such as foreign exchange, commodities exchange, crude oil and petroleum exchange, precious metals exchange inclusive of gold and silver, direct interaction with FIIs [Foreign Institutional Investors] as well as India’s largest public sector and private sector businesses are all part of the driving force behind what is going to directly affect India’s future. The opportunity to work in these fields and contribute to building India’s future is definitely a precious opportunity in one’s lifetime.

Benefits of Bank Jobs

Pay and Perks:Professions and jobs which provide regular and reasonable working hours, lucrative pay packages including pension etc., stability, status, respectability as well as peaceful and conducive work environments. Other perks such as holiday benefits, medical benefits, loan provisions, travel allowances, appointments on compassionate grounds for relatives of deceased employees, scholarships and other benefits for children of employees are always extremely sought-after.

Respectability and Growth Opportunity:The Indian government has taken great pains to ensure that its employees are taken very good care of. Most if not all the above mentioned benefits are provided, and therefore, Indians have made it one of their primary avenues when looking to begin a career. In this regard, Bank Jobs has been held in very high esteem because they provide great scope for entering into a career that is not only attractive in terms of financial benefits, but also provides for challenges and growth opportunities galore.

Pride and Privilege:Bank jobs along with other government jobs also give any Indian the added privilege and pride because they allow one to serve the country as well as its citizens. In effect, a career in a bank allows one to become a part of something greater than oneself, to serve a greater cause and that’s invaluable!

Competitive ExaminationsThe burgeoning awareness of the importance of a good education and professional qualifications to improve one’s career opportunities has increased the talent pool manifold in India consequently giving rise to intense competition for every post. The Indian government has resorted to a range of competitive exams designed to identify the brightest and most eligible citizens for every job opening.

Exams are routinely conducted for the Indian administrative services; CET or common entrance tests are conducted for students applying to professional courses. Other exams are held for teaching posts as well as other technical specialties. Thorough research on the Internet can provide extremely accurate information about the necessary qualifications for eligibility regarding any of these examinations as well as availability of present job vacancies in the government and banking sector.

Competitive Exams in the Banking Sector: The Reserve Bank of India [RBI], which is the independent overseeing body that governs and implements laws and guidelines that are followed by the banking sector. For their recruitment they conduct independent competitive examinations to ascertain the most eligible candidates.

The State Bank of India [SBI], which is one of the primary government banks in India also holds its own competitive examinations and other rounds of interviews etc. in their recruitment process.

The Institute of Banking Personnel [IBPS] conducts a common written examination for 19 government sector banks. The next exam will be conducted in September and are held every six months. It has become essential to have good marks in this exam before applying for most public sector banks. This examination gives you the opportunity to compete for both the Position of Probationary Officer and the Clerical cadre. It is also extremely cost-effective as the payment for a single written test makes you eligible for hundreds of job vacancies that may be available in the 19 government sector banks.

The eligibility criteria are:

Clerical cadre position: the candidate must have at least 55% of marks from your Intermediate from recognized board. Age limit: Your age should be between 18 to 28 yrs.

Position of Probationary Officer: the candidate must have minimum 50% marks in your graduation from recognized university and 5% relaxation is available for SC and ST candidates. Age Limit: Your age should be between 18 yrs to 28 yrs.

Once a candidate shines in the written examinations they will be given the opportunity to attend Group Discussions and Personnel Interviews allowing the respective banks to get a clear picture of your skills, abilities, attitude and qualifications.

Hints to Help You Excel in the Competitive Examinations

The Standardized IBPS examination essentially consists of objective type questions from various subjects such as

Logical Reasoning

Basic computer Knowledge

English Aptitude

Quantitative Aptitude

General Knowledge

The Author is a career professional in a highly reputed government bank. As an expert on the functioning of public sector banks, she aims to share her wealth of knowledge for the benefit of the youth so that young Indians can achieve success in competitive

bank exams in India

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Benefits of Bank Jobs in India