plays a very important role in any economy. The Banking Sector in India
has witnessed many changes from the nationalization of the banks in late
sixties to their striving to be in business, in the post liberalized era,
in face of the competition from foreign banks. The recommendations of the
Narasimham Committee on Banking Reforms, which have been accepted by the
government, are being implemented in phased manner to increase the measure
of their competitive efficiency and to make them globally competitive. The
fiscal reforms and the IT wave have vastly improved the existing services
and introduced many new facilities in the country like tele-banking,
credit cards, electronic clearance etc for the first time. In most
metropolitan banks, computers are replacing unwieldy ledgers, and more and
more banks are offering facilities like Internet banking.
from regular banking operation, termed as ‘house-keeping’, commercial
banks are now diversifying and giving thrust to areas like corporate
banking, merchant banking, investment banking and treasury and forex
functions. Besides growing income, economic liberalization, has resulted
in increased volumes of international trade, and these factors together
have given impetus to the demand for better banking facilities which are
at par with international standards. There is thus an increasing demand
for professionals in the banking sector. A career in banking sector
therefore holds great promise for those with the right qualifications and
its no wonder that a job with a foreign bank is highly coveted by students
from top management institutes.
India Reserve Bank of India is at the apex of the banking
structure. It plays the role of a regulator and monitors the functioning
of commercial banks. Along with Ministry of Finance it lays down the broad
parameters of the country’s monetary policy. It also issues guidelines
and procedural instructions to all financial institutions and banks.
Functioning of the Reserve Bank of India is therefore totally different.
The remaining are mainly commercial banks, which function on more or less
on the same line. There are banks specialising in a particular area like
the Exim Band and NABARD. In addition to these there are financial
institutions like ICICI, IDBI and IFCI that are related to the banking
industry and those working in the banking sector may also have openings in
Reserve Bank Services Board conducts an examination on the all India basis
for recruitment of class I Officers. Graduate/
postgraduates/CA’s/MBA’s in the 21-26 year age group are eligible to
take the examination.
Recruitment Board (SBI) and the Banking Services Recruitment Board (BSRB)
recruit Probationary Officers for State Bank of India, and its associate
banks, and other nationalized banks respectively, through competitive exam
comprising of written test followed by an interview. Graduates in any
discipline can take these exams. The upper age limit is 28 for SBI and 26
for other nationalized banks.
Banks and Foreign Banks advertise their posts in leading newspapers.
However in management cadres, positions are largely filled through campus
recruitment at management institutions. Freshers are taken as trainees for
a period of six months to one year and thereafter confirmed as Assistant
from streams like law, engineering, agriculture also have opening in the
management cadre of various banks. Lawyers
in banks advise on laws and regulations affecting the operations of the
institution. Engineers work with industries and businesses on behalf of
the bank. Computer Professionals are also in great demand for planning,
programming and maintaining computers and other electronic equipments.
Candidates, with a background in agriculture science, are recruited in the
area of agri-banking. Postgraduates and doctorates in Economics can
find direct recruitment as grade ‘B’ or ‘A’ officer in RBI.
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