Bank on your motivation levels to enter finance sector

I had to smile when I read your query and the aftermath of demonetisation process that keeps the bank employees on their toes. Henry Ford wittingly remarked, “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” Let us hope that it is only temporary, and things get better soon. 

A career in banking is constantly on the rise due to banks expanding to hitherto non-banking services. Banks have moved out of their traditional turf of deposits and remittances, loans and debts to offering services in financial sectors with insurance, mutual funds and investment plans. For eg., the ATM networks are swelling. Banking requires vast human resources. 

Contrary to general belief, banking jobs are not for commerce or economics students alone. A majority of the banking staff is from streams like Arts, Humanities and Science. A course in Commerce has a greater advantage depending, on the kind of jobs that you apply for. There are also specific banking courses like Banking and Insurance, Banking Management at under graduate and post graduation levels.

Adopting of all round services has forced banks to recruit MBA, CA, CFA graduates. Also professionals like engineers, lawyers, doctors, technologists and ex-defence oficers for senior ranks are also recruited. There are also post-graduation banking courses, and it prepares one for multiple opportunities within the banking sector. 

The Institute of Banking Personnel Selection conducts a common written examination IBPS PO CWE, twice a year for around 20 nationalised banks. The State Bank of India conducts an examination separately with its constituents. The minimum qualification is any degree in any discipline. Passing in one test will qualify you to seek employment in many banks. The Reserve Bank of India conducts its tests separately for different levels, i.e., for clerical and officers, with different requirements and conditions. 

IBPS PO Exam consists of preliminary and main exams. The syllabus covers subjects like reasoning, language, computer and numerical ability and general knowledge. The cut-off score in the exams is decided on the general average. Successful candidates are called for interviews only after everyone is based on the high score. 

The appointments to private banks are through direct recruitment. The opportunities for private banks are spread across the borders. 

Profiling for a particular job is paramount, because banks ahve diverse vacancies in the fields of accounting, investment banking, compliance, taxes, public relations and customer relations management; law, tellers, loan officers, bookkeeping, audit clerks, etc., and in diverse capacities like Branch Manager, Assistant Branch Manager, Loan Officer, Personal Banking Manager, Pension Officer etc., Hence, deciding on which bank position you desire is vital. 

So, keep your motivation simple and straightforward. That’s your guide to success.