The banking sector in India has seen immense growth is the past couple of decades. Several new arenas, profiles and roles have come up in the past few years. In the Indian context banking can broadly be categorized into Nationalized or Government Owned Banks, Private Banks and Specialized Banking Institutions. The Reserve bank of India acts as a centralized monitoring body for the Indian banking and financial sector.
Banking provides various well-paid and satisfying career options. Although it is a common notion that only commerce background students can opt for banking jobs. In reality, this is a myth! Graduates in any stream can apply for respectable jobs in banks.
The Public sector banks recruit candidates at 2 levels – officer level and clerical level. The entry is through banking examination for Probationary officers. The Reserve Bank Services Board conducts examinations for selecting personnel for all branches of RBI. There are three points of entry into the RBI – clerical cadres, Grade A officers and Grade B officers. The RBI also recruits candidates for specialized departments.
Private banks select their candidates through ways like Interviews, Group Discussions and Written Exams. Students with MBA, CA, Business Economics, Public Relations as well as Law degrees can make a bright career in the banking sector.