Banking Jobs in India







Banking Jobs in India

Financial stability of a nation depends upon the performance of its banking sector. Hence,
the banking sector is recognized as the backbone of the country and finding an employment in this area has always been regarded as a matter of prestige. Banking jobs in India are therefore considered as one of the most coveted jobs in the country.
 
The banking sector of India comprises both the public sector and private sector banks. Both controlled by the RBI. Currently there are 27 public sector banks, 31 private sector banks and 38 international banks operating in the country.
 
The investor friendly attitude of the government and the improved purchasing power of the people of the country have also encouraged the foreign banks to start their operations in India. 

 

 

Latest Banking Jobs in India
Additionally, there are also the cooperative and rural banks specialized in advancing financial assistance to the hinterlands of the country and assisting in its development. Hence, Indian banking sector is one of the largest and most advanced in the world. As a result, it is also one of the largest employment generators of the country. In fact, the recent performance of the baking sector in terms of employment generation has ranked it at the second position after the booming IT/ITES industry. 
 

Employment in the public sector banks

The 1969 regulation of nationalization of banks have paved the way to create the large public banking sector in India. The public banks in India offers vast employment opportunities in the country and it is regarded as one of the most coveted career options. An employment in the public bank promises of great career growth and monitory security. 
 
The current number of public banks in India stands at twenty seven and each hold their individual exams to recruit incumbents.   
 
Presently the public sector banks in India have a workforce of 0.7 million at various levels of banking. To fill in the large number of retiring workforce the public banks are currently in a recruitment spree. As a result a large number of jobs are expected to come up in the current year. 
 
Public banks are currently recruiting in clerical, junior officers, middle level and senior management level posts. Young graduates now can even enter directly at the Probationary Officers positions in public banks. 
 
Public banks are also having job openings for candidates with specializations in agriculture, economics, IT etc.  
 
Clerks: This is the entry level position available with the public sector banks. The minimum eligibility criteria for clerical position require the incumbents to be of minimum 18 years and maximum 28 years of age with at least 40% marks in graduation. 
 
Officer cadre: Most public banks now are allowing young graduates to apply directly for officer’s position.  Different banks have different recruitment criteria but in most cases they demand candidates with at aleast graduation, between the age limit of 21 years and 26 years or above as decided by the bank. 
 
Management level: Increasing numbers of banks are now directly recruiting from business schools to fill in the middle management level positions.  To recruit middle level managers the banks are now participating in campus interviews. 
 
The major public sector banks in India are,
  • Allahabad Bank
  • Andhra Bank
  • Bank of Baroda
  • Bank of India
  • Bank of Maharashtra
  • Canara Bank
  • Central Bank of India
  • Corporation Bank
  • Dena Bank
  • Indian Bank
  • Indian Overseas Bank
  • Oriental Bank of Commerce
  • Punjab National BankPunjab and Sind Bank
  • Syndicate Bank
  • UCO Bank
  • United Bank of India
  • Union Bank of India
  • Vijaya Bank
 
State Bank of India and its associate banks 
  • State Bank of Indore
  • State Bank of Hyderabad
  • State Bank of Patiala
  • State Bank of Mysore
  • State Bank of Saurashtra
  • State Bank of Bikaner and Jaipur
  • State Bank of Travancore
 

Employment in the private sector and foreign banks

The liberalized economic policy introduced by the government in early 90s has encouraged many private banks to start operating in the changed economic situation. Many foreign banks namely- HSBC, American Express, Royal bank of Scotland (RBS), Citi Bank, Standard Chartered etc, too have entered the Indian market encouraged by its robust economic performance.  
 
Most of the private and foreign banks prefer to recruit for the junior and mid-level managerial positions from prestigious business schools. For the senior level positions experienced bankers are preferred. 
 
The ICICI bank is one of the largest recruiters in the private banking sector. Following is the list of some of the other private sector banks in India.
 
  1. HDFC Bank 
  2. Axis Bank
  3. Federal Bank 
  4. Centurion Bank of Punjab 
  5. Indusind Bank 
  6. Kotak Mahindra Bank 
  7. Yes Bank 
  8. ING Vysya Bank 
  9. Bank of Rajasthan 
  10. Karur Vysya Bank 
  11. Karnataka Bank 
  12. Jammu & Kashmir Bank 
  13. South Indian Bank 
  14. Bharat Overseas Bank
 

Current openings in banking sector:

 

Uttarbanga Kshetriya Gramin Bank

Positions:

(1) Office Assistants (no. 28) 

Pay scale – INR 7200 to INR 19300 pm

(2) Officers [scale 1] (no. 34 jobs)

Pay scale- INR 14500 to INR 25700 pm

 

Deccan Grameena Bank (DGB)

Positions:

(1) Officer [scale 1] (no. 65 jobs) 

Pay scale– INR 23098.50 pm

(2) Officer [scale 2] (no.12 jobs) 

Pay scale: INR 30904.20 pm

(3) Office Assistants (no. 98 jobs)

Pay scale – Rs.13658 per month

ICICI Bank

Positions:

Probationary Officers (PO)

Pay scale: 4 lacs pa

 

Pragathi Gramin Bank 

Positions:

(1) Officer [scale 2] (no. 32)

Pay scale – INR 30904 pm

(2) Officer [scale 3] (no. 3) 

Pay scale– INR 40940 pm

(3) Office Assistant (no. 64) 

Pay scale– INR 11506 pm

 

South Malabar Gramin Bank

Positions:

(1) Officer [scale 1] (no. 47)

Payscale – INR 23100 pm

(2) Officer [scale 2] (no.18) 

Payscale– INR 30900 pm

(3) Officer [scale 3] (no. 4) 

Pay scale– INR 40940 pm

(4) Office Assistants (no. 43) 

Pay scale– INR 11500 pm

 
Last Updated: 29/09/11