Banking is a career with great opportunities. Aggressive marketing and
innovative policies hold the key to the success of banking operations.
Lot of changes has been introduced to the banking sector due to international
trade and industrial liberalization and several branches of public sector
banks as well as private and foreign banks are coming up at each and every
corner of the country. All these factors have created an increase in job
opportunities and the requirement for people with marketing and technological
skills apart from financial background. The candidates can look for jobs
in many establishments such as RBI, Regional reserve banks, the State
Bank of India and its associate banks, nationalized banks and private
banks.
Nationalized banks recruit candidates through competitive examinations
while private banks recruit candidates mainly MBA's and Chartered Accountants
directly. Candidates with pleasing personality can find jobs as direct
marketing executives, personal banking executives and home banking executives.
Foreign banks usually go for experienced candidates for managerial posts.
In a Nationalized bank, one can join in a bank as a clerk, grade I officer,
grade II officer or as a manager. Those joining in a clerical cadre can
retire as senior officer and those who join as probationary officer (grade
I & II) can become General manager and even Managing Director or Chairman
of the organization. The bank manager should be aware of the marketing
strategy; the area and customers of the bank; be supportive to his staff
and make sure the best service is offered to his customers. The main tasks
of the manager involves organizing, controlling and supervising banking
activities or holding overall charge of one or more departments or branches.
The clerical post has got the responsibility to keep the records of accounts,
loans etc and they also perform the services like payrolls and inventory
accounting for the customers. Those who are appointed as probationary
officers has to undergo a probation period of two years and during that
time, services may be terminated at any time, if their work proves unsatisfactory.
On completion of the probation period, the officers goes through various
grades like scale I, scale II, scale II to scale VI, scale VII, scale
VIII and scale IX.
Investment Banking, Corporate Finance Banking, Personal, Retail and Rural
Banking, Treasury Management etc are some of the major banking activities.
•Investment Banking:
Investment banking supports the corporates and government by raising money
through issuing and selling securities in the capital market and also
advice them on strategies and helps them in implementing their plans. •Corporate
Finance Banking: Corporate Finance banking deals with the financial
management of an organization by raising the capital or fund for that
organization. It is through this corporate banking, the organizations
are doing their transactions, deposits, fund transferring etc. It is a
part of Investment Banking. •Personal,
Retail and Rural Banking: Individual customers belong to personal
banking and this sector provide a range of financial advice to the customers.
Retail banking also deals with direct customers, their money transactions
and transfers etc. The Rural banking is for promoting loans to farmers
for agriculture. •Treasury Management:
This sector deals with managing foreign currency and its collection.
The treasury managers should be aware of the fluctuations of different
currencies. They should manage the portfolio to avoid downgrading of the
currency value.
