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Banking


Back breaking hard work... too many long hours... the adrenaline pumping in your veins as you play big bucks - intense combination, you think??  Read on... The best is yet to come...

e-banking, 24 hour cash withdrawal facility, money transfer through computer networks, instant account information - to name but a few! (all this for the customer’s comfort and satisfaction!)

The banking sector is flooded with competition (which sector isn't, for that matter!). The functions of banks have changed entirely with the growth in technology - a totally new banking experience is promised to you.

Regular banks are passe - today we have acquired merchant banks, mutual funds, leasing companies and venture capital companies. A rapidly developing nation such as ours, brimming with international trade and industrial liberalisation needs effective banking facilities (right?). This has in turn led to the need for recruiting technically and financially competent individuals. (And this is exactly where you come in!).
The age-old concept of seniority and promotion takes the back seat and aggressive banking takes over. Pay scales tip higher and so does professionalism. The number of employees goes down and really smart people begin to matter.

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Management graduates, Chartered accountants, Chartered Financial Analysts are the heroes in the banking sector. For the sake of competition, banks have to constantly increase and sell services. People who can do market research, and plan business extension programs have much to do here.

The officer and the clerical levels are the 2 levels the bank recruits candidates in. However, the procedure of selection may vary with nationalized and international banks.

Foreign and Private banks

Officers to these banks are recruited either through campus selections at reputed management institutes like IIM, FMS etc. or are taken on deputation on merit basis from the parent organisation. CA's from premier firms have chances of recruitment too.

Reserve Bank of India / State bank and Associates / Nationalised Bank

An All India entrance exam for class1 posts is conducted by the RBI services board for which graduates / PG's / CA's / MBA's in the age group of 21 - 26 are eligible. There is a written test comprising 3 papers, after clearing which the candidate is called for an interview.

State Bank of India

The Central Recruitment Board selects Probationary officers for SBI branches all over India. You are eligible if you are a degree holder, within 18-26 yrs of course. A written test, followed by an interview is what you have to clear. The clerical staff recruitment is done by the regional boards.

Nationalized Commercial Banks

Probationary officers are recruited by the regional office of the Banking Service recruitment Boards. Though selection is done on a regional basis, officers get an All India exposure of workstations. In order to apply, you should be a graduate in any discipline within 28 years.

The written test will judge your reasoning and logical ability, your command over the English language and your general and social awareness. The quantitative aptitude test is designed to measure your numerical ability with problems of arithmetical reasoning, percentage analysis, graph and table reading etc (lots of figures - for obvious reasons!) The descriptive section of the paper may be answered in Hindi/English.

The panel of interviewers will assess your ability to communicate, decision making capacity, and leadership qualities. Make sure you know at least some aspects of social banking (to impress the interviewers of course!)
bank3.gif (3235 bytes) If Lady Luck shines on you and you are a Manager one day, you will be required to know your region and customers well, in order to provide services accordingly to generate profit (everyone knows that!). Mind you, being a bank manager is a tough job!! He is constantly on his toes - advising customers on the services provided by the bank, motivating the staff, making important decisions, visiting properties - the manager does it all (thinking twice already, are we??).
The bank is a reflection of its employees. No one wants to deal with you if you are sloppy with an unkempt appearance. Neatness is essential and so is accuracy in records and promptness. If you have an organised mind and a well rounded personality to match -  nothing like it!! bank4.gif (1933 bytes)

Your salary will zoom (upwards, of course!) as you move up in private or multinational banks. Management trainees start with about Rs 2.4 lakhs to Rs 4 lakhs a year. In nationalised banks, probationary officers generally start with Rs 1,02,000 per annum. In private and multinational banks, the figure may be between Rs.1,44,000 and Rs.1,60,000 per annum.

The salary of a private sector bank's assistant vice-presidents ranges from Rs six to eight lakhs per annum. In such places, salaries can actually double in seven to ten years. This may not happen in nationalised banks, where assistant general managers get around Rs22,000 to Rs30,000 per month.
bank5.gif (1965 bytes) There will be lots of people in the bank keeping records of personal accounts, business, mortgages, installment loan etc. These are regular clerical jobs. The bigger banks, however, have employees specialising in one job. All this requires you to have leadership and management qualities along with integrity when handling the bank's money.
memo.gif (434 bytes) (read: extra self control when you see and feel and smell the crisp banknotes!!).