As a global strong-power in the economical front, India has been deserving respect from many countries of the world. This has led to bettering and has also been determining the job scenario in the country. A few decades back, jobs were found mostly with the infrastructure industry and the government. But the present day increment in the employment opportunities has been seen in the services sector.
Of the various services sector, the banking and financial sector has given way to the highest number of jobs supposedly. The growth in the number of people seeking bank jobs and the total number of such jobs for the taking by people has increased significantly. In today’s economic scenario, bank jobs are being considered as a high growth rate sector. Some important features that have favoured the upcoming banking jobs to be in high demand are:
- Huge Number – The very first reason for the bright future of the bank jobs is the sheer number that are there for the aspirants to get into. Any advertisement for banking job vacancies and recruitment will reveal to people that there are not less than some hundreds of vacancies in the clerical and probationary officer posts. Almost all the public sector nationalised banks are coming up with vacancies in hundreds, while a few of them require clerks and POs in thousands. SBI, the largest public sector bank in India, has come up with vacancies of about 9000 in the clerical level. More than 3 lakh vacancies in the PO and clerk posts are to be filled up in the next three year. These figures are a testimony to the fact that there can be thousands of vacancies for the interested candidates.
- Expansion and Functional Widening – The reason for such a large number of recruitments by the banks in the coming years would be the expansion into various small tier cities and even village. Under directions from the government and by their own endeavour, the banks are opening up branches in the small towns, and concentrating on making the banking services reach the common man in the remotest possible place. This will require more number of banking personnel as well as premises to carry out the banking functions, which gives rise to many employment opportunities. Furthermore, it is very much evident in the present day scenario that the scope of banking has increased to include mutual funds, insurance, and loans of different kinds.
- IBPS Exam – It might not be a direct reason per se for the increase in demand in the banking jobs in the future, but the introduction of a common entrance exam by IBPS for recruitment into 19 nationalised banks in the country has motivated many more interested aspirants. People are finding it easier to appear in a single entrance exam and then apply for the various vacancies that are published by the different banks from time to time. The prospect of appearing in a single exam, whose results remain valid for a complete year, is reason enough for the students to come up in larger numbers to try their fate in the banking jobs scenario.
- The high pay scales and the easy working hours also cannot be undermined for the high demand in jobs in this sector. These pay structures are commensurate with the revisions in the 6th pay commission and are at par with many other government organizations.
These are the factors that are having a big say in the way the banking jobs in India would be panning out in the coming years. Not only are the jobs going to increase, but also the path which leads into these jobs has been made easier with the single entrance exam. It is high time that all those aspirants who are longing to get a prospective job in the banks of their choice, tighten their belts and carve a niche career ahead.