Career Opportunities in PSU Banking

Banks are considered the backbone of a country’s economy. Its more true for a developing country like India. Indian Banking system is very strong. In the global financial turmoil that happened some time ago, our country was least affected because of soundness of Indian Banking and Financial system. In fact many countries of the world are trying to learn lessons from our disciplined system of Banking.

Banks in India are not only strong but are also growing fast. According to studies. Banking sector is one of the fastest growing sectors in the country. This growth has brought many opportunities.

Public sector banks in India employ more than 7 lakh people at present. Of these a large number of people will be retiring in next 5-6 years. To fill this gap and to take up the growing business the Banks are on a recruiting spree as can be seen in media and from vacancy announcements. Earlier officers were recruited only in Junior Management Grade. Now public sector banks are offering direct employment in middle and senior management cadres as well. Thus for both fresher’s and experienced people career opportunities are available in public sector banks. To meet their manpower requirements these banks are presently recruiting in large numbers both in clerical and officer cadre.

Nationalised ( PSU ) Banks as on 1st June 2020

Public Sector Bank Headquarter
1. Punjab National Bank New Delhi
2. Indian Bank Chennai
3. State Bank of India Mumbai
4. Canara Bank Bangalore
5. Union Bank of India Mumbai
6. Indian Overseas bank Chennai
7. UCO Bank Kolkata
8. Bank of Maharashtra Pune
9. Punjab and Sind Bank  New Delhi
10. Bank of India Mumbai
11. Central Bank of India Mumbai
12. Bank of Baroda Gujarat

How to become Bank PO

There are 12 /15 exams per annum for the recruitment of Jr. & Sr. Officers. Basic requirements are Graduation of any stream irrespective of percentage & age below 30 years. No experience required, that means there are huge opportunities for even fresh graduate to get safe & secure Career.

ORGANISATION AND POST AGE LIMIT Minimum Qualification TENTATIVE NOTIFICATION EVERY YEAR APPROX SALARY
RBI Grade. ‘B’ 21-30 Graduation May/June 800000
Assistant 21-28 Graduation June/July 40000-50000
Attendant 18-27 Under-Graduate Nov/Dec 18000-25000
IPPB Clerk 20-30 Graduation June/July 25000-30000
NABARD Grade A & B 21-28 Graduation Feb/March 50000-70000
SBI PO 21-30 Graduation April/May 80000-100000
Clerk 20-28 Graduation Jan/Feb 30000-45000
SO 20-30 MBA/ENG/IT April/May 60000-70000
IBPS PO 20-30 Graduation July/Aug 60000-80000
CLERK 20-28 Graduation Aug/Sep 20000-35000
SO 20-30 MBA/ENG/IT Sep/Oct 50000-60000
IBPS RRB OS-1/2/3 18-30 Graduation June/July 30000-50000
ASSISTANT 18-20 Graduation June/July 25000-30000

Career Progression:

There is a well-defined career progression path in each public sector bank. Performance and potential are key elements which determine this career progression. Most senior officials in public sector banks started their career as clerk or scale I officer only. In tune with the time banks have reviewed their promotion policy and now for bright, hardworking and knowledgeable employees it takes less time to move to higher scales. In many banks a person who joined as an officer may reach to the position of General Manager in 14 years. After that one can aspire for the position of executive director or chairman of a bank. These are very high positions, nomination to which is decided by the Government and not by the individual banks.

Many public sector banks have a network of foreign branches. Thus joining a public sector bank gives you the opportunity of working abroad also. Transferability in a bank job provides you the chance of seeing different parts of the country.

Career Progression of Officers

  • Junior Management Grade – Scale I: Officer
  • Middle Management Grade – Scale II: Manager
  • Middle Management Grade – Scale III: Senior
  • Manager Senior Management Grade – Scale IV: Chief Manager
  • Senior Management Grade Scale V: Assistant General Manager
  • Top Management Grade Scale VI: Deputy General Manager
  • Top Management Grade Scale VII: General Manager

Selection Procedure

These candidates are selected through online exam conducted by IBPS for 12 nationalize banks together as per their requirements, for SBI &RBI . Put together there are 12 to 15 exams per annum. This is huge opportunities for today’s graduate to get entry in PSU banks. Since Jan 2016 there is no interview for any clerical recruitment. Only for Probationary Officer (PO) position there is interview of shortlisted candidate after online Main exam. But weightage of this interview is 20% (80% weightage for online exam)

EXAM PATTERN FOR PRELIMS (IBPS/RBI/SBI)

  Subject Questions Marks Time
1 Quantitative Aptitude 35 35 1 Hour.
2 Logical reasoning 35 35
3 English 30 30
  TOTAL 100 100

MAINS EXAM FOR RBI ASSISTANT

NO. SUBJECT Questions MARKS TIME
1 QUANTITATIVE APTITUDE 40 40 2 Hr.
2 LOGICAL REASONING 40 40
3 ENGLISH 40 40
4 GENERAL AWARENESS 40 40
5 COMPUTEER 40 40
  TOTAL 200 200

MAINS EXAM FOR SBI/IBPS PO

NO. SUBJECT Q MARKS TIME
1 Reasoning and computer aptitude 45 60 60 min.
2 General/Economy/Banking awareness 40 40 35 Min
3 English Language 35 40 40 Min
4 Data Analysis & Interpretation 35 60 45 Min
  Total 155 200  
NOTE: IBPS/SBI PO MAINS OFFLINE TEST, English Language (Letter Writing & Essay)
IBPS PO-25 MRKS 30 MINS SBI PO 50 MRKS 1 HR
NOTE: INTERVIEW: (Weightage 20%) IBPS 100 MARKS 1 HOUR        I      SBI GD 20 MARKS PI-30 MARKS

RBI Grade B Officer

Subjects Questions Max Marks Duration
Phase I
Logical Reasoning 50 50 2 Hours
Quantitative Aptitude 50 50
English 50 50
General Awareness 50 50
Total 200 200  
Phase II
English(Essay &Letter in Hindi/English) Descriptive 100 90 Mins
Economics &Social Issues MCQ 100 90 Mins
Optional Paper(Finance & Management MCQ 100 90 Mins
/Economics/ Statistics
Total   300 270 Mins
PHASE III
Interview 50
banking course
  • Video Lectures-200
  • Homework assignment with video solutions
  • Sectional Tests – 40
  • Topic wise Tests – 80
  • Prelims – 20
  • Mains – 10
  • Validity- 12 Months
  • Lectures in Hindi + English
  • E-Books
  • Practice Questions- 4800
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ibps clerk classes
  • Video Lectures-200
  • Homework assignment with video solutions
  • Sectional Tests-  40
  • Topic wise Tests-  80
  • Prelims – 20
  • Mains – 10
  • Validity- 06 Months
  • Lectures in Hindi + English
  • E-Books
  • Practice Questions- 4800
online banking video course