Month: January 2018

Basic Requirements Of Banking Jobs In India

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The entire global economy is going through a tough phase now. A lot of people have already lost their jobs over the last couple of years and many more are living in the fear of losing their own. Quite interestingly enough, almost all the job cuts have happened in the private sector; there are very few government employees who have actually lost their jobs. Bank jobs in India are definitely better compared to the corporate jobs then it comes to job security, average salary and also annual benefits.

If you take a look at the list of Indian Banking jobs 2012, you would see that almost every banking departments has a couple of vacancies. Almost all the jobs that are featured in the list of Indian government 2012 require you to be an Indian citizen, have no criminal records and be above the age of 18 years. So, these are the basic qualities that are needed in a candidate who wants to apply for all such vacancies in India. Let us now take a look at the educational and other requirements:

Educational Qualifications

As told earlier there are a variety of different banking jobs available in the list of Indian banking jobs 2012. The educational qualifications required for different posts in India are definitely different, but in most cases you are required to be at least a graduate in order to be eligible to apply for a post. Most jobs in India would require you to go through a written examination followed by an interview process. If you get selected, you would be put on training for a stipulated period of time during which you would be eligible for a fraction of the salary and benefits offered against the post. There are some job vacancies that would require you to have technical qualifications such as a degree in engineering or a diploma in applied sciences. In almost all the cases your degree or diploma should be verifiable and should have been awarded by an UGC recognize University or institute. For graduate level teaching jobs you need to have a postgraduate degree or doctorate on the subject of your choice in order to be eligible.

Experience With The Indian Army

If you have military working experience you would be eligible for almost all posts that are featured in the list of Indian banking jobs 2012. Most banking departments have a couple of reserved seats for ex-Army professionals and as long as you have proof of your service at the Army, you would not have to worry about the age limits specified by different banking jobs in India. There are some vacancies in India that give preference to ex-Army professionals; so, if you are serving the Indian army, you might as well think of taking up another job with a govt department after retiring from the Army!

Finacle Mobile Banking Solution

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With mobile devices becoming integral to people’s lives, banks are seeking to leverage the ubiquity of mobile phones to create a cost-effective distribution channel, rapidly innovate, extend reach across segments and improve convenience and security of use. However, due to consumer concerns regarding security, the adoption of this channel for value-based transactions has been limited. While some consumers prefer browser-based mobile banking, others use applications that can be downloaded to create a rich interface on the handset. Additionally, the diversity of hand held devices presents a unique challenge for banks seeking to optimize services delivery across the gamut of devices and customer segments.

A truly secure mobile banking solution built on open standards, for increased agility and flexibility, can prove invaluable for banks. The solution must also intuitively address the hurdles posed by multiple form factors and access mechanisms in the mobile space.

Finacle mobile banking solution empowers retail and corporate banking customers with access to banking services through SMS, GPRS/ 3G and USSD-enabled handsets, leveraging a single platform. The solution provides a secure, multi-lingual channel for banks to innovate by easily deploying new services with improved time to market. The end user experience thus created is richer and truly convenient.

Finacle mobile banking solution integrates easily with disparate host systems, core banking solutions, payment networks and third-party applications. The solution leverages Infosys mConnect, the indigenously developed middleware, which orchestrates mobile transactions between users’ devices and the Finacle universal banking solution. Infosys mConnect handles the multiplicity of form factors and access mechanisms on multiple devices to provide a context and device independent view to the transaction server. This presents banks with a powerful channel to service customer segments ranging from the mass affluent to the under-banked or unbanked, surmounting the challenge posed by the diversity of mobile devices.

The ubiquity of the platform adequately addresses the challenges of encryption, communication, synchronization, image resizing, downloading and security. This ushers in the advantages of reduced integration by leveraging common interface messages, maintenance and deployment costs.

Customer On-boarding

Finacle mobile banking enables the bank’s existing customers to be directed to use the mobile channel for banking and payment transactions through the following modes:

Mobile banking facility requested by sending SMS request in prescribed format

Registering for mobile banking through the bank’s Internet banking site

Phone banking leveraging the bank’s tele-banking call center

Mobile Banking and Payments

Customers are enabled to perform several financial transactions on their mobile phones using multiple languages and across multiple time zones. The functional capabilities of the solution include:

Account management and requests like balance inquiry, account aggregation (within and with other banks), mini statements, among others

Term deposit and renewal

Funds transfer (self and third-party accounts with multi-currency support)

Local and international payments with support for expedited payments

Bill presentment and payment

Remote deposit capture

Account origination, Forex rates and calculators

Cheque status inquiry, cheque book requests and stop cheque requests

Customer personalization including account setup and marketing preference

Transaction approvals for corporate customers

ATM and bank branch locator

Remittance request, enquiry and statement

Peer-to-peer payments

Business-to-business payments

Contactless payments

Support for administrative tasks like secure mails to relationship manager, approvals, password/ PIN change, block credit/ debit/ ATM card, customer billing, data synchronization and self-audit

Key Modules

Mobile Financial Management

The solution offers unmatched support to manage finances on the move. This helps banking consumers make informed decisions. A comprehensive set of tools is provided to enhance financial management.

Quantitative (such as EMI calculators) and qualitative analysis tools (such as budget vs. spend analysis)

Transaction tagging

Product selectors and comparators

Virtual financial advisory services through video chat on mobile

Alerts

This module empowers customers to subscribe and receive a wide variety of mobile alerts. The solution supports both push and pull alerts along with customizable alerts via integration with Finacle alerts solution. The module also allows the customer to set preferences and limits for alerts and configure ‘do not disturb’ timings.

Value Added Services

Finacle offers a gamut of value added services that provide extended convenience and comfort to the customer. These include:

Mobile commerce

Mobile ticketing

Mobile top-up for prepaid card recharge

Mobile advertising, based on location, user profile and actions

Mobile remittances to charity causes

Mobile wallet

Demat and stock trading services

Security

Finacle mobile banking solution offers state-of-the-art security through optimized measures. The solution offers:

Two factor authentication – PIN encryption

J2ME MIDP 2.0 support for SSL/ TLS

Encryption of data stored on mobile phone

Support for binary XML

Enabling and disabling of mobile numbers

Support for additional authentication mechanism

Business Benefits

Greater Customer Convenience

Finacle mobile banking solution empowers banking customers to make informed decisions by providing them with an invaluable set of financial management tools on the mobile handset. These tools help in quantitative and qualitative analysis, as well as in the selection and comparison of financial products.

Reduced Turnaround Time

Finacle mobile banking solution has a robust integration framework which allows it to function in tandem with disparate host systems, core banking solutions, payment networks and third-party applications. This translates into reduced go-to-market time for the bank as well as support for legacy systems.

Robust Inclusivity Framework

Finacle mobile banking solution leverages Infosys mConnect to smoothly hurdle the challenges posed by the multiplicity of form factors and access mechanisms on multiple devices to provide a context-agnostic view to the transaction server. This enables banks to include, through the mobile channel, its various customer segments, ranging from the HNWI to specific unbanked communities, surmounting the complexities of diverse location and dissimilar mobile devices.

Maximize Innovation

Banks can leverage Finacle solution’s indigenously developed middleware Infosys mConnect, to configure an unlimited palette of services from any channel, to the mobile space, with ease. The need for development of new back end services is precluded due to the availability of a banking solution behind the mobile interface. Finacle also provides the flexibility to deploy services over the existing online banking platform or through a standalone delivery channel interfaced directly with the relevant host systems. This ensures the rapid delivery of a comprehensive range of financial services, embellished with new innovative features, on mobile devices.

Business Benefits

Robust Security

The solution offers extensive application security features like URL encryption, referral URL check and session management to provide a robust security framework. The solution also supports OTP (one time password), which provides a two factor authentication mechanism for users transacting with downloadable mobility client. This enables the bank to offer products that are highly secure and geared to withstand the onslaught of security threats associated with mobile transactions.

Cost Savings

The solution presents banks with the advantages of reduced integration by leveraging common interface messages, maintenance and deployment costs. This translates into significant cost savings without banks having to compromise on features or the range of devices supported. The mobile banking solution is inherently independent of the network service provider, obviating the need to build a business model that involves costs and profits sharing with them.

Customer Delight

Finacle mobile banking solution enables banks to offer the convenience of comprehensive anywhere anytime banking, using GPRS, mobile browser or SMS. It supports a wide range of mobile devices and mobile browsers. Banking customers can query on account balances and make fund transfers. Banks can also proactively send timely information to customers in a completely secure environment, whenever a customer-defined event occurs. The solution’s self-service capabilities empower customers to manage their banking activities better. The solution also addresses data transmission and storage related security concerns adequately, delivering a truly streamlined customer experience.

Banking Jobs in Delhi

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Delhi being the capital of the country, shares the major part of the financial sector of the country with King of Stock exchange market, Mumbai. The development and the growth of the country, is mostly in the hands of the people doing jobs in banking and finance sector, all over the world. The growth of the country is directly proportional to its monitory funds and the financial status of the country. Just like, in a house, if the finances are going well, the whole system is well managed, and simultaneously corresponds to a smooth livelihood.

Increase in population, larger people applying for jobs, expanding job market, and further increase in the finances of the organisations, has lead to a growth in banking Jobs in Delhi. If we see, there have a number of new banks and branches been opened in and around the city, in past few years, or we can say the banking sector has reached new heights in the recent times. Due to increasing demand of the jobs in banking sector, many people are applying for the same.

The two levels on which one can apply for Jobs in banks are clerical and officer level jobs. Selection and recruitment procedures for these jobs, vary according to the standards of the bank, whether its private, government, national or international. There are different examinations conducted for jobs in government banking sector. The biggest financial controller of the country Reserve Bank of India, which design the policies and norms for all the monetary firms in the country, conducts examination for three entry levels- Clerical level and Grade A and Grade B officers.

Also, an all India examination is taken for the post of class 1 officers, for which the requirements and qualifications vary according to national or international banks. These candidates are assessed on the basis of their mathematical, logical and analytical skills, through a written test examination, which is the first phase of entrance in the banking jobs, followed by subjective tests on English, grammar and communications skills, and last is the exam on social and economic problems in the country. An interview is organised for all those candidates, who clears the written examination, and assign the interview, which is the hardest nut to crack, the candidate gets eligible for the banking job.

Entry is what one looks for banking jobs, after which experience and performance helps the employee to grow in his job. Different positions in which one can do jobs in Banking are:

1.)Financial Managers

2.)Bank Tellers

3.)Bill and account collectors

4.)Loan officers

5.)Financial service representatives

6.)Clerks for accounting and book keeping

7.)Customer service

As discussed earlier, a number of banks and financial organisations have got open in the country which is responsible for its growth. Some of the banks in Delhi, in which one can try his luck, are:

1.)State Bank of India 2.)Punjab national bank 3.)HDFC Bank 4.)Central bank of India 5.)Bank of Baroda 6.)ICICI Bank 7.)Bank of India 8.)Canara Bank 9.)Syndicate Bank 10.) HSBC Bank 11.) UCO Bank 12.) Allahabad Bank

These are few of the job destinations; one can try, after he is through with his educational qualifications in the commerce and maths. Also, a masters degree in management is given preference in banking jobs, due to the fact that a lot of managerial role is involved in the job profile. Some of the qualities one must instil before applying for a job in banking sector are:

1.)An ability to maintain the records and account details. 2.)Capability to learn and grasp new things every time. 3.)An eye for the latest up gradations and policies made in the banking and finance sector. 4.)Team leader and ability to motivate and encourage his team members to perform well. 5.)An analytical and logical approach towards matters.

Keeping all these points in mind, one can prove to perform quite well in his job responsibilities in the banking sector.

Gurleen writes on behalf of Naukri.com, the no.1 job portal in India.She writes on topics like Banking Jobs, relieving job stress and increasing work concentration. Naukri.com is a recruitment platform & provides products and services.

Offshore Banking, a Good Option for Investors

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If you are looking for ways to earn income from your investments, you might consider looking into offshore banking. While some people think of offshore banking as being an illegal activity, it actually is completely legal. Offshore banking explained is opening up an account in a bank in a country that you do not reside in. You, of course, would have a bank account in the country you live but you would open up another account in a country that is not your home country.

The reason some people choose to open up these accounts in other countries is that they see the benefits of having them because money in these accounts earn interest. Many countries offer higher interest rates in hopes of drawing new international banking customers. They may depend on the income that they can receive from people opening new accounts in their country. For this reason, they offer competitive interest rates.

Countries who have high interest rates often have strict privacy laws as well. No one wants to invest their money if anyone can poke into their business and find out how much money they are holding in their international account. Most countries that have good offshore banking systems offer very strict privacy laws so that investors can put their money into a checking or savings account without anyone knowing about it. And it is always a good idea to have your money spread out in more than one bank just in case you need to get access to it and you have trouble at one bank.

Another benefit of opening an account for banking offshore is the fact that it gives you ready access to your money if you have to be out of the country that you live in. If you are a frequent traveler, it is a good idea to have an account in a country you visit often. If you have an account in a country you visit often, you will not have to worry about getting wire transfers or waiting for your money through any other means. It can be time consuming and difficult to get access to your money when you are out of the country. It is dangerous to carry a lot of money with you when you leave your home country because you can be robbed, or it can be lost. You definitely don’t want to depend on carrying enough cash with you when you are away because a difficult situation may arise when you need more money.

When investors choose a country to invest their money, they usually find a good offshore banking guide. A quality offshore guide will provide guidance and suggestions on the countries which it is best to invest your money. Not all foreign countries have equal banking systems. Therefore, it is prudent that investors do their research before opening a bank account in any foreign country. You might want to see if you have any friends or acquaintances who can offer offshore banking advice. They may be able to help you decide if offshore banking would be of benefit to you in your unique situation.

About Investment Banking and Why You Should Seek Expert Help For It

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Investment banking is a widely accepted phenomenon presently, the major reason being expert advice provided at every step you need to take. Financial giants take the responsibility of making sure your money grows avoiding the risk of down fall. Today every person at some point or the other thinks about investing some amount of money in the stock market. A major worry of all these people is the uncertainty; investment banking beats these blues and offers best possible investment advice to its customers.

A major chunk of people involved in investment banking do not have the time to keep an eye on the ever changing markets and track their returns. In such cases arises the need for investment banking services. These companies do all the hard work of market research and analysis and advice investors on where to put their money for maximum returns. This also depends upon the amount of money the person is willing to investment.

There are many sectors in which investment banking is being carried out, few of them include retail healthcare, insurance and automobiles. Another emerging trend in this banking is that of equity investments. Equity investment banking is based on the dividends of the existing shares an individual holds. There are expert advisors who guide the movement of funds here as well so that there are no last moment disappointing surprises.

When it comes to investing money not all have the perfect knack hence it is always good to seek help of an expert investment banking company or equity investment banking services. Money after all is a crucial issue and you would always want to see it grow systematically. Another advantage of investment experts is they help you understand the market well. You get to know where your money is going and the reason behind it too. These services do come with at some extra cost but are sure to give you peaceful night sleeps and not make check the stock market prices every now and then. Let the experts do their job so that you can relax and reap the benefits.

Choosing the right financial advisor is also important in such cases. Also reading the fine print before finalizing anything is advised as there are many terms and conditions that come along with investment banking. You can take reviews of family members, friends, colleagues etc in deciding which and choose. There are numerous financial institutions and each one of them is offering investment banking services due to its rising demand.