A bank is a financial institution that accepts deposits and channels them into lending activities.Banks provide an array of services such as savings and checking accounts, safe deposit boxes, auto & home loans, credit cards, insurance etc.
Scope of a career in Banking
• The penetration of banking services stands at 35% in India, which is much lesser than other countries. India has a significant potential
for improvement given the vibrant economy.
• Public sector Banks recruit mainly graduates for posts of Clerical and Probationary Officer on the basis of All India Level examination.
• Working professionals like engineers, doctors, technologists, lawyers etc. are recruited for senior positions.
• Chartered Accounts, MBAs gain direct entry as Managers.
• High level of Integrity
• Knowledge of the Banking Industry
• Good Communication skills
• Detail oriented
• Excellent Analytical & Interpersonal Skills
• Aptitude for repetitive work
• Computer Literacy.
Institute of Banking Personnel Selection
The IBPS is an autonomous body that conducts the Common Written Exams once every six months and provides a gateway for students to get placed in public sector banks, State Bank of India, SIDBI, NABARD, regional rural banks, co-operative banks etc.
Eligibility for Common Written Exam
• Indian Nationality
• Age between 20-30 years
• A degree in any discipline from a recognized University for Probationary Officers
Pros and Cons
• Good Remuneration
• Job Security
• Perks like travel allowance, leased housing accommodation, medical expenses etc
• Financial Transactions involve risks.
• Transfers/Relocation every 3 years
Institutions for Advanced Learning
- Indian Institute of Banking and Finance, Mumbai
- Institute of Finance, Banking and Insurance (IFBI) - centres located all over India
- Centre for Advanced Financial Research and Learning (CAFRAL), Mumbai
- National Institute of Bank Management, Pune
- ICICI Manipal Academy for Banking and Insurance (IMA), Bengaluru
- Mithibai College, Mumbai
- Sydenham College of Commerce and Economics, Mumbai
- Amity University, Haryana