Career in Banking

Banking industry has emerged as one of the most challenging sectors in the country. Emergence of technology-driven private banks and entry of financial institutions into short-term lending business has created the requirement of more professionals.

 Banking is one of the most sought after career option today. Till recently job opportunities existed only in nationalized banks, but with liberalization, a host of private banks have been set up. As a result, demand for trained professionals has increased substantially. Though it may appear that banking jobs are meant for commerce/economics students, majority of bank officers are from different streams of education. Also top positions in Foreign/Multinational Banks are held by MBA's from Premier Management Institutes. Though the Public sector Banks are now appointing management graduates, CAs and CFAs from any subject can get entry in the Public sector Banks through an All India Examination conducted by them.

You could work in a variety of areas in banking industry including as an customer service, cash handling, Account opening, current account, savings account, Demat account, Recurring Deposit account, Banking officer, probationary officer, loan officer, assessor, personal loan officer, home loan officer, home loan agent, loan manager, mortgage loan underwriter, loan processing officer, accountant, product marketing and sales executive, recovery officer, retail asset manager, property appraiser and customer service executive. The concept of service is constantly emphasized by the banking sector and service is the key for success of the industry.

Skills required for the job
Banking is a competent field - Professionalism and dynamism are two major essential quality needed for this career. The other necessary skills include basic knowledge of the industry, good communication skills both written and verbal, interpersonal skills, leadership qualities, ability to deal with customers, ability to use computers and related technology and an alert nature.  One should also possess a mathematical aptitude, a clear logical and analytical mind, diplomacy, sincerity and sound knowledge of the banking system with up-to-date knowledge of recent developments. However to join foreign sector banks one needs specialization in some specific areas like project analysis, credit appraisal skills, managing huge loan portfolios and foreign exchange.

Remuneration
The salary scale varies depending on the position. The initial salary scale for clerical grade post in the public sector banks may vary between Rs. 7000/- to Rs. 10,000/- per month. The pay scale of probationary officers varies between Rs.12,000/- to Rs. 18,000/- per month. The salary package of the private banks and foreign banks are much high when compared to the public sector and the officers can get around 3.5 lakhs or more as annual income depending on their performance. But the job security in these banks depend on various external factors like the economy of the parent country, performance of the bank worldwide, change in expatriate management etc.

Eligibility
Candidates after 10+2 of any stream can take up banking as their career, but graduates specialized in Commerce, Mathematics or Economics; post graduates, MBA holders, Chartered Accountants and Chartered Financial Analysts get more preference in the field.

Course Details
Courses in Banking are being offered in different parts of the country. Many of the universities and B-schools like the Indian Institute of Banking and Finance provide specialized courses in Banking and Finance and the eligibility criteria will vary depending on the courses. Diploma courses offer practical insights into the subjects of Banking and Finance and give candidates an exposure to the operational processes of the modern banking environment. Most of the certificate courses in banking are approved by the government and are recognized all over India. Once you complete these courses you can directly apply to banks for a job.

Institutes Offering Banking Industry Programs
Bangalore Management Academy
Course: Master of Professional Finance and Banking
Duration: Full Time-15 months, Weekend-16 months
Description: The Master of Professional Finance and Banking programme provides the training according to the needs of the ever growing and fast changing business environment.
Eligibility: Graduate with 50% marks from recognized university

Institute of Finance, Banking and Insurance, Bangalore
Course: Post Graduate Diploma in Banking Operations
Duration: 6 months
Description: The Post Graduate Diploma in Banking Operations (PGDBO)aims to create industry-ready professionals at an entry-level, with the knowledge, skills and attitudes of Modern Banking.
Eligibility: Fresh graduates or graduates with less than six months of banking and financial sector experience.