Make a Career in the Private Bank | FPA EduTech

Make a Career in the Private Bank

Jan 17, 2023

Keen to make a career in the Private Bank?

The banks are the main source of currency circulation. Stagnated money is a setback for the economical growth of the country. Banks are bridges connecting every sector of the country, thus boosting the employment scope. The banking sector is the pillar of the Indian Economy. Banks are the backbone of GDP growth. Banks help in capital exchange and generate employment. Digitization of the banking system is breaking the module of recruitment with a huge demand for new fresh employees. GDP and banking services are interrelated which for sure is generating excellent job opportunities in the banking and finance field. the advent of new fields such as investment banking and business consultancy has made banking one of India’s most coveted job sectors.

FPA Edutech: Private banks prefer trained candidates over the freshers. FPA is an excellent academy providing knowledge and training in finance. It is student-focused, result-driven, and committed to helping individuals achieve their dreams. Sykes and Ray Equities is the parent company of FPA. It is a stock broking house, an NBFC, Portfolio management services, and financial planning.

Scope in private banks: The banking sector has maximum scope for all the types of graduates from different fields like science, arts, and commerce. They provide so many vacancies for positions like clerks, probationary officers, tele executives, financial officers, sales officers, business development, Back office executives and managers, loan officers. Insurance and credit loan, back-office positions have the highest number of openings. Even if one has only completed a simple graduation degree still they can get jobs with initial positions. Private banks hire more employees every year thus growing the scope of the job.

Job switch: People who are currently working in a different field and need to switch to banking position do have different vacancies like IT officer, HR and marketing officers, Law officer, Agriculture officer, credit and loan officer, Rajbhasha Adhikari. They get paid well with many facilities. People in the financial sector always switch to the banking sector. They are at great benefits in banking jobs. Even engineers or other professionals can pursue different banking courses like MBA in banking and finance, PGDM, PGDRB, PPCB, short term diploma courses, etc. to get into the banking sector.

Criteria for banking jobs: The age factor required is almost between 20 years to 35 years in private banking systems. The basic qualification needed is Graduation and post-graduation with 60% aggregate. Previously banks used to approach B-schools for recruitment but now they are open for direct applications as well, which increases the mass scope for all people. The Business-school degree can help you attain a higher position due to the merits of knowledge gained.

Selection is based on examinations conducted by the government as well as private banks. Compound score in PO prelims, PO mains, GD, and PI is considered for selection as a Bank PO. To qualify for these exams one needs to get a thorough knowledge about the banking sector and its details. General rounds in a written section can be as follows: Quantitative aptitude test, Reasoning ability test, General knowledge, and computer basic or tally. For a higher position, one needs to clear face to face interview. Training is provided in nationalized banks, but private banks prefer trained candidates from banking and training institutes. So one should consider all these factors to find a better suitable job in private banks.

Qualities required for the banking sector: Pressure handling is the most important aspect required along with a positive attitude. One has to be great with numbers when entering this sector. You have to have an end to end customer conversations and hence require further qualities: Excellent interpersonal skills. Excellent communication, high confidence, positive approach, good analytical skills, and most important is the quality of gaining customers’ trust. The ability to handle all types of customers is the biggest challenge and requires a high amount of patience.

Career opportunities: The banking sector provides employees with many facilities like more interest on deposits, insurance, low rate of interest on loans, etc. private banks also provide more opportunity for faster growth based on performance. Position hierarchy is easily approachable in private banks as they only consider your hard work and your performance, age, and other factors don’t affect the growth of a person here. As private banks are expanding on a large scale nationally as well as internationally hence, they do provide an opportunity for career growth internationally. Many people from different fields end in the banking sector as they gain high packages and respectable positions.

Even when you enter the banking field scope is higher. Entering level is just an initial step to mark your career. Banking exams are the ladder with several steps to unlock your potential. Once you are into this sector one can opt for abroad options by staying in this highly challenging global economic sector.

FPA can help you achieve your dream by making you more skillful and knowledgeable so that you can pave your path to success.

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