Top Recruiters in India

Top Ten Banking Recruiters India

Total No. Of jobs
1. Fullerton India Credit Company Limited
2. Sharekhan SSI
3. Centurain Bank of Punjab
4. Goldman Sacs
5. India Infoline
6. Angel Broking
7. Fidelity
8. LIC Housing Finance
9. Religare
10. SERI infrastructure
The ranking is based on the number of jobs notified by the company on different job portals (Till 19th January 2008)

Brief about Banking Sector

An Overview of Banking and Insurance Sectors
The economic reforms undertaken in the last 15 years have brought about a considerable improvement in the health of banks and financial institutions in India. The banking sector is an overriding sector of the Indian economy. The sector has made a marked improvement in the liberalization period. There has been extraordinary progress in the financial health of the commercial banks with respect to capital adequacy, profitability, asset quality and risk management. Deregulation has opened new doors for banks to increase revenues by entering into investment banking, insurance, credit cards, depository services, mortgage, securitization, etc.

The limit for foreign direct investment in private banks has been increased from 49% to 74%. In addition, the limit for foreign institutional investment in private banks is 49%. Liberalization and globalization have created a more challenging environment in the banking sector as well as in the other segments of the financial sector such as mutual funds, Non Banking Finance Companies, post offices, capital markets, venture capitalists, etc. Now the challenges faced by the sector would be gaining profitability, reinforcing technology, maintaining global standards, corporate governance, sharpening skills, risk management and, the most important of all, to establish ‘Customer Intimacy’.

The insurance business is one of the most rapidly growing areas in the financial sector. As an economy grows over the years, insurance sector intensifies and broadens its reach. Every practical and futuristic individual would want himself, his family and his assets to be insured. Insurance deals mainly with life and general insurance. India has a large insurance market commensurate with its population. The IRDA Act 1999 (Insurance Regulatory and Development Authority of India Act) has given new opportunities to private players to enter into the market on the fulfillment of certain prerequisites. The IRDA is the licensing authority in the sector; the current FDI cap/Equity in the sector stands at 26 percent. There is no doubt the challenges ahead will become tougher with more companies competing both in general and life Insurance. Also mortgage insurance will soon be coming into the industry. New players have contributed to the launch of innovative products, services and value-added benefits. Major foreign players have entered the country and announced joint ventures in both life and non-life areas. These include New York Life, Aviva, Tokio Marine, Allianz, Standard Life, Lombard General, AIG, AMP and Sun Life among others.

Commercial banks are coming up with more and more jobs, and the banking sector now has more new jobs than any other sector. Right from the branch level to the highest level, there is tremendous range of opportunities available in the sector. Jobs in this sector can be both rewarding and enjoyable, as you get opportunities to learn about business, interact with people and build up clientele. The same is the case with insurance, as it is the fastest growing industry under the financial sector. Both government and private players are currently offering a plenty of jobs in this sector. So, this is great news for you if you are thinking to go into the banking & insurance streams.