Banking services
A bank is a financial intermediary that accepts deposits and channels those deposits into lending activities. Banks are a fundamental component of the financial system, and are also active players in financial markets. The essential role of a bank is to connect those who have capital (such as investors or depositors), with those who seek capital (such as individuals wanting a loan, or businesses wanting to grow).
Banks being effective catalysts of change, mobilizing the savings of country’s public, can function as instruments for promoting economic and social development in a purposive manner. In our developing economy banks occupy an undisputed position of importance.
Public, Private
1) work in private banks as banking sales officer 2) positions in insurance, personal loans, mortgages, collections 3) back office operations ("career in banking', n.d.).
4) working with international banks
1)Ability to comprehend large amounts of information
2)Ability to work for long periods of time in an office or customer service environment
3)Able to interpret financial information and market circumstances and make sound judgements
4)Highly organised to maintain customer/client portfolios and needs
5)Knowledge and adherence to regulations and procedures affecting banking and financial services sector
6)Problem solving abilities when dealing with funds
7)Strong analytical skills to understand financial figures and foresee future trends and advise clients on best options
8)Strong communication skills to work well with clients and present situation and options in a clear and cohesive manner
9)Strong mathematical capabilities
10) Thorough attention to details and numbers("Banking and financial service career", n.d.)"
For seeking entry into banking services a candidate must at least be a graduate with fairly high marks. Recruitment for the public sector banks is done through the Banking Service Recruitment Boards (BSRBs). The advertisements for recruitment appear in all major national newspapers as well as the Employment News.
Recruitment is done on the basis of a written test, which consists of:
The test is qualifying in nature and the marks obtained are not added in the final merit list. Except for the descriptive portion, all other sections contain objective-type questions. In Reasoning, there are verbal and non-verbal sections. In English, the test is aimed at judging the overall comprehension and understanding of the language.
The descriptive paper can be answered in English or Hindi. It is meant to judge the written expression of the candidates.
While recruitment in nationalised banks is done through the BSRB, recruitment in private banks is direct. The jobs are considered more glamorous as most private banks give preference to high value accounts. One may be able to join these banks after putting in a few years of service in a nationalised bank.
However these banks give preference to MBAs and Chartered Accountants who can find direct recruitments as officers. Lower down the line, fresh graduates can hope to find jobs as clerks, marketing executives, personal banking executives and home banking executives
Foreign banks pick up their personnel from campus interviews held in the premier management institutes.
Institutions in Bihar:
1) NIIT Imperia Centre for Advanced Learning, Patna, Below NIIT Ashok Rajpath centre, Naveen Khoti, 1st Floor, Ashok Rajpath, (Opp. Khuda Baksh Library), Patna, Bihar. Phone: 0612-3261342/033-30570147, Email: info@niitimperia.
2) Indian School of Business Management and Administration ISBM, 2nd, Floor, 59-15 Kalkaji Extension, Gururavidas marg, Near Balaji Estate, Kalkaji, Patna, Bihar, India- 801101
Institutions in other areas:
1) National Institute of Bank Management (NIBM), NIBM post office, Kondhwe Khurd, Pune- 411048. www.nibmindia.org
2) The Indian Institute of Banking & Finance, The Arcade, World Trade Centre, 2nd Floor, Tower 4, Cuffe Parade, Mumbai-400 005. www.iibf.org.in
3) Indira Gandhi National Open University (IGNOU). Website: www.ignou.ac.in
4) The Aligarh Muslim University, Aligarh-202 002
5) Maharaja Sayajirao University of Baroda, Vadodara-390 002.
6) University of Rajasthan, Jaipur-302 004.
7) Shivaji University, Vidyanagar, Kolhapur-416 004.
8) Marathwada University, Aurangabad-431 604.
9) Manipur University, Canchipur, Imphal-795 003.
1) career in banking (n.d.) retrieved from http://www.jagranjosh.com/careers/banking-1291209346-1