With the banking sector experiencing very high growth rates, it is no wonder that a career in banking can be both rewarding and fruitful. Currently, driven by the high growth rate and Government of India schemes to have every Indian national open an account (a vast majority still do not have accounts), Indian banks are on a hiring spree. About 40,000 vacancies in various designations are reported to be filled this year alone. As such, banking offers a bright career prospect to not only fresher’s, but also professionals with working experience who can be integrated into middle and top management positions of Indian Banks.
Currently, of the existing 27 public sector banks; 19 are nationalized while the rest are made up of the State Bank of India and its 8 associates.
At present, banks are actively hiring for both clerical as well as management positions. Formerly recruitment was done under the Banking Service Recruitment Boards. However, this has since been discontinued and now individual banks are free to follow their own recruiting process. Lately, combined selection process for most banks are being done through the IBPS (Institute of Banking Personal Selection) and associated combined clerical exams.
The requirements differ for each bank. While some may require a minimum of 12th standard for clerical positions, others may require graduates. Graduates from any field may apply, although the minimum requirements differ from bank to bank.
Revised IBPS CWE-V Exam Pattern 2015 – Institute of Banking Personnel Selection (IBPS) has brought a major change in the IBPS Exam Pattern/Procedure to be held in the year 2015. As per the details available at the IBPS official website, the exam conducting authority has decided to hold two-tier examinations (Preliminary and Mains) for recruitment of Probationary Officers (PO/MT) and Clerks from CWE-V onwards.
In conclusion, public sector banks make for a compelling career choice. The associated job security and attractive housing and medical are also a big plus. In short, there has never been a better time for a career in Indian public sector banks.