Private Sector Bank - Explore Banks in the Private Sector


Jan 17, 2023

How many banks are currently operational in India?

A quick Google search will show you that, there are 27 public sector banks (out of which 6 are nationalized), 6 are State Bank of India & its associates, 21 private sector banks, 41 foreign banks having branches in India, 39 foreign banks having representative offices in India, 45 Regional Rural Banks, 34 state cooperative banks & 52 urban cooperative banks.

How do I make a career in the public sector banks?

Most public sector banks, including regional rural banks, hire individuals based on the exams conducted by the Institute of Banking Personnel Selection (IBPS). IBPS conducts Tier I & Tier II exams which are objective based & consists of negative markings for any wrong answers. Those candidates who successfully clear both the exams are called for a personal interview. The scores of the exams & the interview are aggregated & a merit list is published. The exams are of competitive nature & the success ratio is close to 0.1%

How do I make a career in the private sector banks?

Most private sector banks have their own exams to hire individuals at the officer or the clerk level. These exams are mostly MCQ pattern exams followed by a personal interview. Some private sector banks also conduct group discussions, before calling a candidate for a personal interview. At the same time, they also hire individuals who have passed the “Post Graduate Certification in Banking” program.

What is a Post Graduate Certificate in Banking (PGCB) program?

A PGCB is an autonomous certification designed by various institutions after due consultation with the representatives of the banking sector. The program focuses on making an individual understand the nuances of the banking sector. Some of the highlights of this program are:-

1)   An individual needs to be a graduate (from any stream) at the time of enrolling for the program

2)   S/he shouldn’t have pursued this program through the distance learning mode

3)   S/he must be less than 25 years old at the time of completion of this program

4)  This program is a part time classroom based program

5)  The syllabus for the program consists of:-

a.       Banking topics

b.      Wealth management & other products

c.       Professional skills & personality development

d.      Assessment preparation

6)  A personal interview is conducted by most institutions of students who are keen to pursue the program

7)  Good communication skills – especially in the English language is necessary for selection to this program

8)  Guaranteed placements offered to the candidates who successfully clear the examinations with private sector banks & NBFCs (Non Banking Financial Corporations)

9)  The primary focus of the program is to offer students “non-sales” jobs in the private sector banks.

To conclude

If you are looking forward to make a career in the private sector banks, a PGCB – Banking Course after Graduation could be a good alternative opportunity to kick start your career in the private banking sector.

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