Tag: India

The Scope Of Banking Jobs in India

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In India, Banking sector has always been viewed as the safest sector from the viewpoint of stability and pay. And why not! With more than 29 foreign banks, 28 nationalized banks and approximately 24 private banks, the scope of Banking Jobs is significantly on the rise in India. Today, there are more than 53,000 branches of Banks in India providing countless job opportunities to graduates and post-graduates.

What’s So Interesting About Banking Jobs In India?
Post liberalization, the class banking transformed into mass banking in India. It gave momentum to the expansion of banks in India. This attracted not only those with their relatives employed in banks but scores of others. What lured people the most and still continues to attract many fresh graduates and post graduates is the less stressful working hours in addition to the amazing pay package. Like any other sector, there are various divisions in banking sector as well. These divisions are generally categorized on two levels – officer level and clerical level. While the officer level work is regarding the banking dealings with customers, managing their portfolios and other similar tasks; the clerical level work is all about managing the front office responsibilities, checking the notes and coins, etc. Talking about the pay scale, you can start off your career in any reputed bank with a pay package anywhere between INR 15,000 and INR 30,000 per month.

The Banks Where You Can Apply To Work With:
Institute of Banking Personnel Selection (IBPS) is an autonomous body that is authorized by Indian Banks’ Association (IBA). It has received authorization from 19 Public Sector Banks and conducts the Common Written Examination (CWE) for the posts of Probationary Officer (PO) or Management Trainee. The CWE is organized twice a year by the IBPS for the afore-mentioned posts in public sector banks; namely:
Allahabad Bank
Andhra Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
Indian Overseas Bank
Indian Bank
Oriental Bank of Commerce
Punjab National Bank
Punjab & Sind Bank
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank

The criteria to apply for the post of PO require you to have completed the graduation with good marks from a well-recognized university. Also, the graduate should be aged between 21 to 30 years.

Modern Trend of Banking Through Mobile Application Development

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The technology of internet banking gave customer’s anytime access to their banks. Customer’s could check out their account details, get their bank statements, perform transactions like transferring money to other accounts and pay their bills sitting comfortably in their homes and offices.

However the biggest limitation of Internet banking was the requirement of a PC with an Internet connection, not a huge difficulty if we look at the US and the European countries, but definitely a big barrier if we consider most of the developing countries of Asia like China and India. Mobile banking addresses this basic limitation of Internet Banking, as it reduces the customer requirement to just a mobile phone.

Initially the web development companies focused on the mobile games. It took some period for developing mobile applications for the banks. Most of the people with the internet connection on their desktop PC and laptops had got used to operate the accounts from their homes or offices. Now that the banks have started offering services with the help of web development India, the accounts can be handled from the smartphones.

In earlier days websites were designed to be compatible with the browsers and the hardware features of the desk top PC and lap tops. The screen of the monitor is much larger than that of the mobile phone. The resolution also differs. When the website cannot be displayed properly on the screen of the mobile phone, the person seeing it will not be interested in that website and never going to buy anything through that website. This is the reason why web application development services need to be availed and get the website designed in such a way that is correctly displayed on the screen of the monitor. The image resolution also needs to be higher.

Online banking is one such group that is fast finding its way in mobile devices. The applications accessible today for the banking sector are quite sophisticated. While some offer the same features as that are available for online banking, other applications are aiming to offer increased functionality.

Even with the potentially high cost of mobile banking application development, banks across the world are conscious that flexibility and convenience are what customers want, and they are responding with a variety of options for banking. Mobile banking is perhaps the most widely available of these choices.

Mobile banking has become really popular owing to the benefits that it offers its customers. You can access your account, pay bills, and make cash transfers through cell phone banking. It offers many benefits over internet banking and banking in person. With the extensive range of mobile connectivity, mobile banking through cell phone can be accessed by anyone.

The challenge for developers focusing on mobile banking applications is to address the security concerns, as these concerns are limiting mobile banking development. If mobile applications for the banking sector are made hazard free and the security concerns are sufficiently addressed then, it can bring about a foremost change in the way we bank.

IT Support Services to Banking Sector

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With the other industries the banking industry is also growing at a significant good rate today. The main reason behind this is the use of the latest technology tools. In the olden days banking was done on paper but now it is done electronically with the help of computers. Many IT Support Company are giving their IT services to the banking sector.

It has been observed during the last few decades that IT infrastructure services have been taken by the banks and other financial institutions. In the early 80s the banks started to make their branches computerized and were purchasing the software packages. In the early 90s replacement of the computer systems with the inexpensive and latest technology powered PCs began. Information technology opened up the way for the banks to make their products sophisticated, diversified and adopting new techniques and make better market infrastructure. The internet has become the remote channel of communication between banks and its customers.

The E-Banking came to the United States of America and the United Kingdom in between 1020 to 1030 and now India is also following it. Most of the banks have made their services based on these technologies and equipments which are offered by many IT support companies. Now the customers can view their account summary, status, receipts, transaction records, can make online funds transfer and many more online options like these. Undoubtedly today banking has become more fast and easy and the customers expectations are also increased. Now the customer needs not to have its account summary on registers because everything is now online with the advent of the internet technology which is providing many benefits to the customers as well as the banks.

A customer can take his cash fast and easy with the use of an ATM machine. He can use his debit or credit card for purchasing purposes. He can use e-cheques, mobile banking, telephone banking and internet banking for remote transactions. He can also make payment transfers when the bank is closed. Easy to keep an eye or monitor the account status. It is cost effective for the bank because thousands of customers can be handled at a time and no need to use so many clerks.

We can say that technology has always played an important role in the growth of financial organizations and banks. It has shortened the paths of long transactions to smaller ones. It is giving proper service quality and satisfaction to the customers.

Career Leads of Banking Tasks in India

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The functions of the bank and one of the most sought after jobs in India. Good wages and benefits package supplements, and job security, as well as the scope is very good for the growth are the main reasons for a large number of young Indians began to gravitate to this lucrative career. Despite a career in the banking sector can appear to be intended for graduates of trade or finance, but does not apply in the modern era. At present, banks provide equal opportunities for all graduates of the streams.

India is one of the fastest growing economies in the world with a growth rate of 8-10% per year. This has resulted in economic growth in the various career opportunities in public sector banks, private banks and multinational banks based in India. Today, we can note that the banks in real estate loans, consumer loans, investment funds, credit cards and business activities of foreign exchange. Each bank has been growing rapidly in India with a huge 30-40% growth in the year and all of them centrally organized by the Reserve Bank of India (RBI). As a result of a decade of the Reserve Bank to all banks and financial institutions in India including public sector banks and private sectors alike are not only highly profitable but also very stable.

These factors have led also to the stability of a large bank in jobs as well as high demand for banking professionals. Banks are looking for professionals having good communication skills, analysis skills, project loans, and skill of management along with good computer literacy. Public sector banks conduct recruitment drives in the form of a written test and interviews at all levels of India. If you look at any of the advertising campaign to recruit any nationalized bank, you can see that there are opportunities for students to pass 12TH with some computer knowledge at the level of the clergy. There is also a general banking (probation officers) and the function of any graduates and administrative functions, especially in the field of information technology, finance and law practices and operational functions of marketing, preferably an MBA in marketing. Even if someone joins at junior level (the clergy) can last up to senior positions with experience and education in promoting rehabilitation. Public sector banks to pay around Rs.6000 / – to Rs.8000 / – per month basic salary at junior level and Rs.25, / 000 – to Rs.30, 000 / – at a high level.

Earlier banks used to transfer training to aspiring professionals through the institution called the National School of Banking. Used to prepare students for exams at the national level banks. Now, days later, runs the same work by the Institute of Banking staff selection. You can visit ibps.in for more details. Also can be sites like bankbpo.in help prepare for exams, as well as interviews. Solution leaves the question of past examination questions and an interview published by the candidates themselves large are very helpful in addressing the success of the recruitment process.

Examinations of banking in India is usually in stock – 1. The ability to think, 2. Arithmetic and tests digital, 3. General knowledge and 4. English knowledge. Apart from this common stock, depending on the nature of this task, you can insert additional sheets of computer knowledge, finance and law. A major factor in the success of these exams is time management. It is expected that about 225 questions to be solved in about 150 minutes. It is important to divide your time equally to all subjects and not to waste time reading the questions as in the traditional examination papers. Fast decision-making process is one of the key factors and the applicant needs to make a decision immediately on whether to try to resolve the issue, and should also be questions very quickly without spending a lot of time on a particular issue. Short listed students high marks on an equal footing in all subjects on the basis of merit.

So, the career prospects in the banking sector in India in a stable condition, as well as profitable and every candidate must be well prepared for exams in the appointment and functions of the bank.

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Search Jobs in Banking for a Fruitful Career

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The banking sector in India has witnessed a huge expansion in recent years, throwing open a world of opportunities. If you are at a stage planning your career path, search jobs in banking positions to get an idea of the options it has to offer and be sure to be overwhelmed.

Benefits of a banking career

The size of the banking sector is proof enough of the multitude of career options it offers. It is still at the expansion stage and offers many openings at various levels. The benefits it offers are enough to attract talent towards this industry.
Expanding sector: Over the years, the banking sector has seen many changes. Liberalization in the year 1991 was one of the biggest changes the industry saw. The number of banks in the nation shot up greatly with many private players entering the market. However, compared to other developed economies, this sector in India is still at the developing stage with a huge scope for expansion.
Growth opportunities: As the banking sector is expanding, it is also offering a great amount of job opportunities. Multiple jobs are posted on various job portals and you can also get job updates on mobile phones. Entry into the industry is just a beginning of the growth process, as there are ample opportunities to grow and reach high levels. The fierce competition in this sector is forcing every organization to adopt means to retain the best talents. Even public sector banks are keeping up with the competition and formulating policies that go in favor of the employees.
Competitive pay packages: To control the attrition rate within an organization, it is important to match up with the demands of the time. Pay packages play an important role, when it comes to executives switching jobs. To see to it that talent is not lost, banks try to keep up with the salary standards compared to other sectors.
Good working conditions: A banking job is considered a white collar job with excellent working conditions. Compared to other industries, the working hours are decent with very rare occasions of late hours. The atmosphere is absolutely professional, and balancing work and family life is possible in this industry.
Job rewards: Being a part of the banking industry has rewards that go beyond the attractive pay packages. There are several benefits that a bank employee enjoys, which employees of other industries lose out on. One such significant benefit comes in the form of loans offered at lower rate of interests to bank employees as compared to non-bank employees. Consider this to be a job perk, but it is a rather significant one. In order to earn a living, one either goes for self-employment or service. If you are planning to take up a job, it would be advisable to take a look at the banking sector. Search jobs in banking companies and you may find a diverse range of requirement with opportunities not being limited to financial backgrounds. You could also enter the sales field or the technology handling section. Needless to say, the benefits are many with a chance to have a balanced life.

Search jobs in banking companies to explore the opportunities available. Talent is required in various fields like sales, marketing, and technology. Sign up with a job portal and get job updates on mobile phones to stay in touch with the industry needs.