This could be good news to those eyeing for banking jobs in India as plans of recruiting 85000 banking staff over the next 3 years, has been announced.This forecast was shared by the Finance ministry in an event held recently.
Recruitments in public sector banks have been in the rise for past few years, owing to the number of retirements & opening of new branches.It seems that this trend is expected to continue for the next 3 years.
At the Economic Editors’ Conference, Govt.of India made a mention about the need of public sector banks to recruit 51000 clerks & 34000 officers between 2010-2013
More banking jobs:
Although government estimates Indian banks to create 85000 jobs industry experts believe the demand to only increase in the coming years.
A common question asked by many young people looking for career in banking is
“Many announcements for bank jobs are currently made.Will it continue next year also”.
We took this to a financial consultant following banking sector for the last 15 years & here is what he said,
‘Of the total 7.5 lakh employees in public sector banks nearly 30 – 40% are expected to retire by 2015.
A matter of worry is most of them would belong to the middle or senior management scale which would put more pressure on productivity of these banks.
- Hence PSB`s are showing keen interest in ramping up their intake & fill vacancies to enable smooth transition of operations.
- Since 2009, atleast 35 – 40000 people are being newly recruited by govt. owned banks which is a huge number comparing the previous years.”
Rajesh is not alone in expecting these events as newspaper reports such as this, this & here had also reported on the demand.
Start of Common Bank Exams:
Another notable announcement made by the government in 2011 was its decision to conduct common written exam (CWE) for vacancies in public banks through Institute of Banking Personnel Selection (IBPS).
IBPS had conducted the 1st CWE for PO & clerical cadre posts between Sep – Nov 2011, based on which all PSB`s are calling candidates for their recruitments.
Can apply for jobs in private banks
| “Apart from 19 public banks, many private sector banks & government companies are interested to use these scores & shortlist people for jobs in their organizations”, says Mr.M.Balachandran, Director (IBPS). |
About the CWE,
- Those aspiring for jobs in banks must appear for IBPS CWE compulsorily.
- The tests would be held twice a year for PO, clerks & once a year for specialist officer postings.
- Scorecards shall be given, similar to GATE, CAT exams
- Based on the score specified by banks, eligible candidates can apply for Interviews directly
- The scorecard will be valid for 1 year, after which the exam has to be taken again
- State Bank of India & its associates will not participate in this common test & hence would conduct a separate examination for vacancies in its group.
With this proposed change the biggest benefit for bank job aspirants would be on the fee payment front application fees registering for each recruitment.
Most importantly, the time taken in selection & appointment would come down drastically benefitting the banks & applicants.
If you are new & wish to sit for bank exams, visit upcoming bank exams to keep track of IBPS exams & banking jobs.