Career in Banking and Financial Sector

Ranjan K Baruah *

If you are looking for a career in financial sector then you can choose to join banks whether nationalized or private banks or and other financial institutes. Apart from banks there are insurance companies and institutes that provide opportunities to young people to build their careers. Minimum qualification for joining banks or other financial institutes are generally graduates but some need post graduates like MBA. Students from any background may join this sector but students from commerce background might find it easy.

The recruitment process of public sector banks includes competitive examination followed by an interview. Several public sector banks, regional rural banks and cooperative banks recruit personnel, based on the performance of candidates in the competitive examinations conducted by the Institute of Banking Personnel Selection.

Institute of Banking Personnel Selection is an autonomous body set up by the banking industry to cater to its recruitment needs. Most of the bank recruits probationary clerks, probationary officers and specialist officers based on performance of candidates in competitive examinations conducted by the institute. However, RBI and SBI conduct separate examinations for recruitment for their banks.

The eligibility criterion for probationary clerks and probationary officers is a Bachelor’s degree. The initial stage of recruitment process is an online written test which is objective type. The questions are aimed at assessing candidates on areas like reasoning, English, numerical ability, general awareness and computer knowledge.

Candidates who clear this test are called for interview. There are opportunities for lawyers as law officer and opportunity for agriculture graduates to become Agriculture Field officer. Aspirants may look at the website of the private banks for the recruitment process. All the details related to recruitment are published on the website of the banks.

IBPS Clerk Exam 2014

IBPS has published the tentative dates/ schedule of the forthcoming clerical cadre exam for the year 2014-2015. As per the notification, IBPS will start amassing the Clerk exam 2014 application from 12th of August 2014, and it will last until 7th of September. As it was before, aspirants should apply for the IBPS Exam through an Internet form; however, they can pay the required fees online or a few and selected bank branches. IBPS expects to deliver the exam call letter by 7th of November 2014, and the common examination would probably be around the end of this year.

Scholarship Update:

NTSE Scholarship Examination: National Talent Search Examination is conducted by National Council of Educational Research and Training (NCERT). Last date of submission of application is 31st August.

Scholarship from Indian Oil: The last date of applying for the scholarship of Indian Oil Merit Scholarships Scheme for 10+/ITI studies and for graduates is 15th October.

Chevening Awards in India: Applications for 2015/2016 Chevening Scholarship programmes in India are now open. Chevening Scholarships are awarded to talented professionals who are potential future leaders, decision-makers and opinion formers.

Scholarships from NHFDC: 2500 National Scholarships for Students with Disabilities have been announced for 2014-15. National Handicapped Finance and Development Corporation (NHFDC), for and on behalf of Department of Disability Affairs, Ministry of Social Justice & Empowerment, Govt. of India, invites applications from Students with Disabilities and last date is 31st August.