Wednesday, July 25, 2012

Careers in Banking

Due to the liberalization of Indian economy, the economic activities increase in our country to a great extent which leads to the demand of more and more financial and banking services. Further the development of latest computer technology helped banking services to reach to a wider market. All this lead to more demand for trained banking professionals. And many public and private sector started recruiting new people to meet the market demand.   There are various levels at which a person can join the bank namely clerk, a Grade I officer, a Grade II officer or as a manager.

How to become a banker
The recruitment of Probationary Officer in public sector banks is based on written examination and Interview. For most of the entrance examination conducted by the public sector banks, including Common Written Exam conducted by the Institute of Banking Personnel Selection, graduates in any discipline are eligible, irrespective of the marks secured in the same.
But, having a good academic record surely helps in the later stage of the selection procedure, but as far as the initial stage is concerned, no matter how much you scored, you are eligible to apply for the examination.

For clerical positions one need to be graduate and clear the written exam and interview conducted by banks.

Role of a Manager: -
A bank manager is responsible for people, profit, and resource management and strategic planning to generate profits. The bank mangers job involves communicating with CEOs of corporates who are interested in getting their operations funded and then following up on the big corporate customers who avail loans from the bank.

Role of a Clerk: -
 A bank clerk has to perform activities like keeping records of accounts, mortgages, loans, providing services like payrolls and inventory accounting to the customers.

Other Positions in Bank: -
The other positions in a bank are for secretary, typist, receptionist, messengers, safe deposit attendants, file clerks and custodians.

Remuneration: -
Most of the public sector banks clerks earn around Rs 12,000 - 16,000 while P.O. begin in the Rs 18, 000 – 30,000 per month scale. Professional like MBAs, CAs and CFAs recruited by private and public sector banks draw higher salary.

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