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|
|NABARD||Grade A & B||21-28||Graduation||Feb/March||50000-70000|
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
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)
|1||Quantitative Aptitude||35||35||1 Hour.|
MAINS EXAM FOR RBI ASSISTANT
|1||QUANTITATIVE APTITUDE||40||40||2 Hr.|
MAINS EXAM FOR SBI/IBPS PO
|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|
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
|Logical Reasoning||50||50||2 Hours|
|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|