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Latest Bank Jobs 2021
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Banking Sector in India
The development journey of the Indian Banking system is a long drawn one. Starting from the pre-independence period characterized by the presence of large number of banks (more than 600 nos.) to the current period, where nationalized and private banks co-exist, the Indian banking industry has come a long way.
Banks are considered as the backbone of the country’s economy – especially for a developing country like India. The banking system in India has played a pivotal role in the development of the country. By virtue of its strong foundation, the Indian banking sector has been able to withstand various global financial turmoil with no major hiccups. Due to the open market policy of the government, the growth of the banking sector in India has been rapid and is among one of the fastest-growing industry vertical.
Prospects of Indian Banking Sector
With the current liberalization policy of the government, there has been enhanced spending on infrastructure, speedy implementation of projects. The continuation of these series of reforms coupled with the breakdown of more and more economic borders with different countries shall provide further impetus to the growth of the
India’s banking sector is poised for robust growth as the rapidly growing developmental and business activities would be serviced by the banks for their credit needs. Also, the rapid advancements and adaptation of technology by the banking sector have enabled it to take banking to unchartered areas. The main emphasis of the banking sector is to upgrade its technology infrastructure to provide improved and more personalized services to its customers.
Career Prospects in Government Bank Jobs
The rapid advancements and growth in the public sector and private sector banks have paved way for many vacancies for bank jobs for candidates including freshers. Even though, technology and automation in the banking sector is a major factor in reducing the manpower of the banks, the rapid growth is creating huge career opportunities for those who aspire to become future bankers.
Bank Jobs 2020 | Openings in banking sector
Various PSU banks offer bank jobs every year on a regular basis for various vacancies. These openings in a PSU bank can be mainly divided into the following categories:
- Clerk (suitable for freshers bank jobs category)
- Probationary Officer (suitable for freshers bank jobs category)
- Specialist Officer (suitable for freshers bank jobs category) and
- Managers & above (suitable for experienced bank jobs category)
Job Profiles and Eligibility Criteria in PSU Banks
For most of the candidates, the Clerical post in banks is the initial entry into the banking career. The minimum qualification is Graduation in any discipline from a recognized University or any equivalent qualification recognized as such by the Central Government.
Age: 20 years to 28 years ( with additional relaxation for SC/ST/OBC/EWS/Divyang etc.)
In general Clerk cum Cashier/ Office Assistants are designated for any work related to day to day functioning of the branch that includes addressing the customers, creating reports/maintaining accounts or any work related to banks which are decided by the higher authority of the bank such as Officers or Bank Managers.
The next post is that of Probationary Officers (also known as PO). This post is a way of direct entry into banking career for Graduates of any stream. In general, the freshly recruited candidates are placed on probation for a period of two years in which they are trained in all departments and they also assist the Bank Managers for different tasks.
The minimum qualification is Graduation in any discipline from a recognized University or any equivalent qualification recognized as such by the Central Government.
Age: 20 years to 30 years ( with additional relaxation for SC/ST/OBC/EWS/Divyang etc.)
The career growth scope for a PO is huge as a worthy candidate can reach a high position in the bank. There are many an example in the banking industry where PO have been rewarded with promotions for their excellent performance to become even the MDs or CEOs of the bank.
With the rapid development of the banking industry, the demands for specialist officers in various departments became a real necessity to address new age banking modules. Engineers for IT, Engineering and Systems, Business Management graduates to support Marketing, Management, Corporate Banking and Public Relations, Agriculture graduates to augment Agriculture Banking, etc. has become the norm for the banking industry. The job for the domain specialists got an boost giving opportunities for those who fit for these jobs.
The following are the six categories of specialist officers in PSU banks:
- I.T. Officer
- Agricultural Field Officer
- Rajbhasha Adhikari
- Law Officer
- HR/Personal Officer and
- Marketing Officer.
Unlike other banking jobs, the managerial positions in a bank are mostly filled through promotions or exams held within the bank. Having an MBA or any degree with over three years of experience in the banking sector increases the chances of getting hired for the posts of Asst. Manager or Manager in a bank.
As for the private sector banks are concerned, they have their separate hiring process. It should be also noted that the management structure and eligibility criteria for private bank recruitment may differ a lot as compared to the PSU banks.
Recruitment Process for PSU Bank Posts
The recruitment process for the Specialist officers, PO/Management Trainee and RRB Officers Scale- I are carried out in four stages:
- Preliminary Examination
- Main Examination
- Interview and
- Provisional Allotment.
The recruitment process for the Clerks (PSU), RRB Office Assistant and RRB Officers Scale II and III are carried out in three stages:
- Preliminary Examination
- Main Examination and
- Provisional Allotment.
IBPS Exams for recruitment into PSU Banks
Institute of Banking Personnel Selection (IBPS), an autonomous body, conducts competitive examinations for recruitment to clerical and officers’ posts in the banking sector.
The examinations conducted by the IBPS for the PSU banks are:
- IBPS SO – for Specialist officers (Scale 1)
- IBPS PO/MT – for Probationary Officers and Management Trainees
- IBPS Clerk – for recruitment of clerks.
The examinations conducted by the IBPS for recruitment to the Regional Rural Banks (RRB) are:
- IBPS RRB Officers Scale 1 (equivalent to PO in PSU)
- IBPS RRB Office Assistant (equivalent to Clerk in PSU)
- IBPS RRB Officers Scale 2 and 3(Officers Scale 2 is equivalent to Specialist Officer and Officers Scale 3 is equivalent to Senior Manager in PSU)
These examinations are conducted once a year.
IBPS Exam Dates
The five major examinations conducted by IBPS in a year to recruit banking service personals. Tentative Calendar of Online CRP for RRBs & PSBs (2020-2021) are as follows:
- RRBs – CRP RRB-IX (Officers) and CRP RRB-IX (Office Assistants)
|Preliminary Examination for Officer Scale I and Office Assistants||01.08.2020, |
|Single Examination for Officers Scale II & III||13.09.2020|
|Main Examination for Officer Scale I and Office Assistants||Officer Scale I: 13.09.2020 |
Office Assistants: 19.09.2020
- PSBs – CRP PO/MT-X, CRP CLERK-X & CRP SPL-X
|Examination||Probationary Officers||Clerks||Specialist Officers|
|Preliminary Examination||03.10.2020 |
Process for Registration for the IBPS Exams
The registration process will be through online mode only and there will be a single registration for both Preliminary and Main examination.
Documents Required while Registering for the IBPS Exam
The following documents would be required to be uploaded while registering for the IBPS examinations for various posts. Please note carefully the specification of the documents/images
(1) Photograph of the Applicant – 20 kb to 50 kb in .jpeg file
(2) Signature of the Applicant – 10 kb to 20 kb in .jpeg file
(3) Thumb impression of the Applicant – 20 kb to 50 kb in .jpeg file
(4) Scanned copy of handwritten declaration as per the format, which will be available in the respective advertisement – 50 kb to 100 kb in .jpeg file