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Career in banking sector
Banking sector forms the backbone for the economy. Strong banking sector helps economies to grow faster. They are the organizations that look after the money of individuals and corporations, thus they play a vital role in our day-to-day lives. People store their money, assets, investments and valuables. The word is derived from Italian word “Banco” means desk or bench where transactions happen in earlier days.
These government-approved financial institutions are the greatest places to gain capital or save money through various methods such as opening savings, current, and fixed deposit accounts. Banks provide interest on deposited funds, give loans for a variety of purposes such as vehicles, homes, businesses, and education, and provide services such as foreign currency exchange and ATMs.
Banks are classified as public sector banks (State Bank of India, Union Bank of India, Bank of Baroda and many more) private sector banks (ICICI, HDFC, Axis), co – operative banks, specialized banks (Exim bank, SIDBI etc), Small finance banks (Equitas, AU small Finance bank, Fincare Small Finance bank) and payment banks (Airtel, Fino, PayTM, Jio).
A career in banking is quite challenging and secure domains to work in. Public sector banks recruit through IBPS examination for clerical and officers through Probationary Officer (P.O.s). Any graduate can take this exam and get into public sector banks.
Private sector banks, Co – operative banks, specialized banks, Small Finance banks and Payment banks hire professionals in sales, core banking, certified financial professionalsthrough campus, off campus and lateral hiring.
Banking offers rewarding career both in public and private sector with high opportunities for top performers.