Initially the banking industry only indulged in lending
and borrowing of fund. However, due to
globalization the banking sector has advanced
further and further and now provides not only
lending and borrowing of fund services but also
includes insurance and mutual funds and related
In India the banking sector is divided into two Public
Sector Banks, Private Sector Banks and Foreign
Banks further they were categorized as Retail
Banking, Commercial Banking, Investment Banking
depending on the type of services they provide
The emergence of technology-driven new
private banks have broadened the scope and
range of banking service and entry of Financial
Institutions are into the short-term lending
business, is resulting in needs for more
professionals. Now banks are in the mutual
funds , securitisation business credit cards,
consumer loans, housing loans, housing loans
besides trading in gold and Forex activities.
Current Banking Scenario :
Current Banking Scenario Currently, India has
81 scheduled commercial banks (SCBs) –
28 (19 Nationalised banks + 8 SBI Group + 1 IDBI),
29 Foreign banks and
24 Private banks.They have a combined network
of over 53,000 branches and 17,000 ATMs.The
public sector banks hold over 75 percent of total
assets of the banking industry, with the private
and foreign banks holding 18% and 7%
The Indian financial system
comprises the following
1. Commercial banks
a. Public sector
b. Private sector
c. Foreign banks
d. Cooperative institutions
(i) Urban cooperative
(ii) State cooperative banks
Central cooperative banks
2. Financial institutions
a. All-India financial
b. State financial corporations
c. State industrial development
3. Nonbanking financial
4. Capital market intermediaries
The Indian financial industry underwent
rapid transformation post liberalization in
the early 90’s, resulting in greater inflow of
investments from FII's into the capital
market. Despite the foray of foreign banks
in the country, nationalized banks
continue to be the biggest lenders in the
country, primarily due to their size and
penetration of networks. In fact, Industry
estimates indicate that over 80% of
commercial banks in India are in the public
sector and of the 50-odd private banks, less
than half are foreign banks.The Reserve
Bank of India is the central bank of India.
Growth PotentialThere are a range of retail jobs to suit
most skill sets, including banking
officer, probationary officer, loan
agent, assessor, mortgage loan
underwriter, loan processing officer,
accountant, product marketing and
sales executive, and customer service
executive among others. However,
job security is not very high in retail
banking as many players suffer from
shrinking margins and poor customer
retention due to increasing
competition and limited market
differentiation, leading to lay-offs
Meanwhile, there are also more
skilled jobs available such as
actuarist, equity researcher, forex
trader, securities linked products
developer and portfolio manager for
those with the relevant knowledge
and ambition.The biggest
opportunity in this sector remains in
improving information flow to
customers. Hence, there is a
growing emphasis on in-house
research and market intelligence.
In the months to come ,hiring is likely to
remain robust. Many banks are investing in
training programs to upgrade worker skills to
enhance their competitive edge in
anticipation of the segment once more
regaining its rightful place as the harbinger of
development and progress.
Careers In Banking
I Foreign Banks are the most sought after
due to their salary packages comparable to the best
in the country and
better job profiles. However, the job security in
these banks is also dependent on various external
factors, like the
economy of the parent country,
performance of the bank worldwide,
change in expatriate management etc.
II Public sector Banks recruit mainly graduates , MBAs,CAs and
CFAs at the entry level on the basis ofAll India Level
However professionals like engineers, doctors, technologists,
lawyers, ex-defence officers etc are recruited on senior
positions through All India tests.
III Private sector/Foreign Banks prefer to take MBA's,CA's etc at
through Campus recruitment and interviews.
However, at the senior positions they opt for experienced
Thus the officers from Public sector Banks become the natural
choice for such positions.
Thus job-hopping has become an well-accepted norm in the
The fresher's are mostly hired for the positions of
Investment Banking Associates.
This profile requires selling financial services provided by the bank
which include securities, loans, FDs etc.
Further one can also be recruited for the profile of a
Investment Banker – Private client services
Clients are HNI (Higj Net-worth Individuals)
It involves putting together an integrated packages of investment
and financial services to the clients.
They are also entitled to perform specific task for the clients like:
Tax Planning and
In simple words it is HNI’s portfolio management.
Investment Banking – Research
involves providing critical analytical support to investment banking,
sales and trading activities.
Research involves quantitative research (pricing models), economic
research (interest rates), and individual company research.
Research is also responsible for maintaining long-term relationships
with corporate clients long after the deals are done.
they meet regularly with company management, to analyze the
company's position relative to competitors, and provide
recommendations about the company's stock to investors, plus sales
Corporate Finance banker.
These are the financial consultants to corporate who advise them on
the financial front and help them in restructuring balance sheets
They also need to provide assistance in IPO and also serve as
underwrites to the firms.
Analysts working for investment banks perform
valuation calculations on the various debt or equity securities being
Critical thinking skills are supremely important, as an investment
bank's services extend to appraising entire entities for a pending
merger, acquisition or corporate restructuring.
Asset managers manage money for individuals and institutions.
they convert that money into assets-stocks, bonds, derivatives, and
other types of investments-and try to make that money grow as fast
Mutual fund companies, banks and corporations hire asset managers
to invest people's money wisely and profitably.
Asset managers use a combination of investment theory,
quantitative tools, market experience, research, and plain dumb luck
to pick investments for their portfolios, ranging from high-risk stocks
to commercial real estate to cash accounts
The field opens to graduates of many degrees, and a mastery of
finance and accounting (whether learned through academia or by self
Pay - Packages
Most Public sector officers can begin in the Rs
8700-12400 per month scale. MBAs recruited
by private and foreign banks are given plum
packages to the extent of about Rs 25000-
30000 a month
However for positions of Investment banker
some Cos also offer from 5L to 10 L packages,
however CAs are the competitors for the
There is good scope for professionals like MBAs, CAs
for Direct entry as Manager, Sr Manager.
There is scope forTechnical posts likeAgriculture
Officers, Industry Officers, Law Officers, Hindi
Officers and Economic Officers.
Qualifications for Banking Jobs For Clerical Jobs:
Minimum Qualifications are 10+2 with marks 50%
and above or Graduation. Age 18 yrs to 28 years.
For Probationary Officers Minimum Qualifications
are Graduation with marks 55% and above.Age 21
yrs to 30 years.
Private sector/Foreign Banks
prefer to take MBA's, CA's etc at junior
positions through Campus recruitment and
They also look for certification like NCFM
CFA, CS serve as a value addition for Research
Job Opportunities for MBA Operations
Loan Officers. (SME’s)
Back End Services.
Top 10 Banks Of India1. State Bank Of India (SBI)
1. HQ: Mumbai.
2. ICICI Bank
3. Axix Bank (SBI)
1. Previously UTI Bank
4. Housing Development Finance Corporation (HDFC)
5. Bank Of India
6. Bank Of Baroda
7. Punjab National Bank (PNB)
1. 3850 Branches
8. Hongkong & Shanghai Banking Corp(HSBC)
1. One of the best payers.
9. Citi Bank
10. Canara Bank