Career in Banking

Banking Sector

The Banking sector in India has always been one of the most preferred destinations for employment. In this decade, this sector has emerged as a sunrise sector in the Indian economy. Banking sector index has grown at a compounded annual rate of over 51 per cent since the year 2001. The Banking Industry is recruiting in a big way. In the next five years, banks will have to recruit almost 7.5 lakh people.

Now, banks have diversified their activities and getting into new products and services that include opportunities in credit cards, consumer finance, wealth management, life and general insurance, investment banking, mutual funds, pension fund regulation, stock broking services, custodian services and private equity etc. Further, most of the leading Indian banks are going global, setting up offices in foreign countries themselves or through their subsidiaries.

The expansion of the banking sector and its convergence with the other financial sectors such as insurance, NBFCs and Capital markets, retirement of the existing employees and financial inclusion have created more number of opportunities in the banking sector.

Infrastructure, Risk Management, Banking and Financial Services, Management Information Systems and Customer Relations Management are a few areas where specialization is expected.