Recruitment in Banking Sector: Everything you need to know

A job in the banking sector has often been termed a blessing, especially in India. With job security being a major concern for thousands of people across the country, layoffs are adding to the pile in this post-pandemic economy. Terms like the great resignation, and slow quitting are becoming more real than ever. However, even amidst this, the job security and charm of banking jobs remains intact.

Considered one of the most popular jobs in India, banking and finance attract thousands of young people to appear for the bank exams such as IBPS PO, SBI PO, IBPS SO and more. Although these competitive exams are considered quite tough to crack, if you are a numbers person and like to work in a fast-paced environment, a career in the banking sector might just be the perfect option for you.

Just like any other job search, banking jobs too have certain eligibility criteria that have to be met and certain set of skills to be matched. As you take the first step towards your banking career, we have curated a list of bank jobs and their vacancies, deadlines, tips on how to apply for a bank job, educational qualifications you need and what other career options are available after this.

Read on to know more.

The types of jobs in a bank

There are different positions available in the bank for one to work. Following is the list of roles where an eligible candidate can work:

• Clerk / Clerical Cadre
• Banking Assistant
• Probationary Officer (PO)
• Management Trainee (MT)
• Manager level positions
• Customer Service Representative
• Top-Level and Middle-Level Management Posts – Chief Manager, Assistant General Manager, Deputy General Manager, Branch Manager, Consultants
• IT Officer
• Law Officer
• Consultants

How to apply for a bank job (Public Sector)?

In Public Sector Banking, the easiest government bank jobs to apply for are bank clerk, probationary officer (PO) or specialist officer (SO). You must be an Indian passport holder to be eligible for a job in a government bank. Candidates are recruited into one of the following institutions in the public sector:

• The Institute of Banking Personnel Selection (IBPS)
• Reserve Bank of India (RBI)
• The State Bank of India (SBI)

Each of these institutes conducts its examination and has its own set of eligibility criteria.

Also Read | Career in Government Jobs: What you need to know

To get a job in a government bank, one needs to appear and clear one of the following written examinations, depending on the institute that you would like to work for:

• IBPS Clerk
• IBPS PO
• IBPS SO
• IBPSRRB
• SBI Clerk
• SBI PO
• SBI SO
• RBI Officer Grade B

These exams have three phases: preliminary exam, mains exam and interview. Once you clear the preliminary exam, you are eligible to sit for the main exam. It is essential to clear each phase of the examination to get a job in a bank. The list of selected candidates depends upon the marks they secure in these three phases.

Eligibility and educational qualifications:

Educational qualifications based on Bank Job positions are a minimum of a Senior Secondary (10+2) Pass. Any Degree holder–Post Graduate, Engineering Graduate, Diploma holders are eligible to apply for Public Sector Banks. However, candidates wishing to work in positions like- Probationary Officer (PO), Management Trainees (MT), Officers, IT Officer, Finance Officer, Law Officer, Various Levels of Managers, Consultants, Directors, need to additionally appear for the following:

• Clerical cadre and PO: Any candidate between the ages of 20 and 30 years is eligible for these two roles. They should be qualified graduates in any discipline, have some basic computer knowledge and fluently speak, write and read the official language of the state for which they are applying.
  
• SO: Candidates between the ages of 20 and 30 years are eligible for this role, and the educational qualification required varies depending on the post you are applying for. As an SO, you can get hired as an IT officer, agricultural field officer, law officer, HR/personnel officer or marketing officer in any public sector bank.

• RRBs: The eligibility criteria for RRBs are the same as that of a PO. In addition, candidates can apply for Group A and Group B office assistant posts, which are equivalent to clerical cadre posts in urban locations.
  
• SBI: The SBI conducts a common written test mainly for PO and bank clerk posts. Any candidate between the ages of 20 and 30 years is eligible for the PO post, and the age limit for a bank clerk post is between 20 and 28 years. Also, candidates should have a graduation degree from an accredited university recognised by the central government of India. Students in the final year of their graduation are also eligible to apply.
  
• RBI: RBI conducts a common written examination to select candidates for their Grade B officer posts. The candidates must have a graduation degree. The age limit for this post is between 21 and 30 years. However, candidates with MPhil can apply until 32 years of age, while those with PhD degrees can apply until 34 years of age.

Skills required for clearing banking examinations

While preparing for the banking exam, a candidate must ensure that they have worked on their reasoning abilities, quantitative aptitude, English, computer knowledge and general awareness of the economy and banking sector. Additionally, the candidate must possess skills like:

• Customer service
• Problem-solving
• Teamwork
• Analytical thinking
• Trustworthiness
• Determination
• Confidence
• Communication
• Banking-related technical skills

Read More | UPSC Examinations: An introduction to the Government Job exams in India

List of bank vacancies available:

• State Bank of India- Managers, Credit Analyst - 55 seats vacant- closing on 12/12/2022
• Visakhapatnam Cooperative Bank, Probationary Officers (PO) - 30 positions vacant - closing on 14/12/2022
• Punjab National Bank, Defence Banking Advisors - 12 positions vacant - closing on 23/12/2022
• State Bank of India- Various Specialist Officer - 54 positions vacant, closing on 29/12/2022