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Banking Industry in India 2024: Guide to get a job in the banking sector

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Are graduates looking for a first job? and looking to make a career in banking, then had a great opportunity to choose a career in banking? Banking Industry in India is rapidly growing and youth can be a part of it. We all know that there has been rapid growth in the banking sector over the past few years.

Banking Industry in India

The banking industry has several job opportunities for graduate students out of college. The banking industry requires individuals with practical skills relevant to the banking sector. Hence, getting your first bank job can be challenging if you lack application-based knowledge. However, you can make this tough task easy with the right guidance and proper training. In this blog, you will find the right tools to begin your journey as a banker.

Research and Understand the Banking Industry

If you have decided to become a banker, the first task to accomplish is research. The first step toward beginning your successful career in banking is research. You can start by gaining an understanding of the banking industry. Have a comprehensive view of banking roles, functions, and the overall structure of banks. Clarity of the financial sector, the current trends, changes in the regulatory bodies, and technological advancement will help you secure your place as a banker.

Determine your Career Path

The banking industry offers different kinds of services. There are various channels through which financial operations work. For example, the bank provides financial services to individual consumers rather than businesses in retail banking. In investment, the banks provide commercial, financial services concerning large and complex transactions, risk management, and capital raising.

Develop Relevant Skills

A trained candidate outshines an untrained one. Learning the skills and having a strong knowledge base is significant to get any job. If retail banking interests you, then seeking the right training for the job role becomes mandatory. Many professional institutes train and place candidates in banks. The Institute of Professional Banking offers a short-term 90-day certificate course in retail banking. This is the ultimate guide to begin your journey as a trained banker. You will learn the basics of banking and gain practical knowledge of the workings of banks. A certificate course will enhance your prospects of getting a role as a banker.

Build a Professional Network

Networking is a game changer when landing a job in the banking sector. You can connect with bankers on social media platforms like LinkedIn. Job fairs organized by colleges and universities are a great networking opportunity. Educational institutes and online learning platforms operate on networking. The Institute of Professional Banking has an intricate network with more than 30 banks. Becoming a part of such institutes can give you leverage in networking.

Types of Bank Accounts in India

Resume Building

A detailed, error-free, neat resume can help you get a job. A good resume should have the following features

  • relevant skills
  • academic achievements,
  • Certificates/Diplomas
  • Internships

Make sure your resume is tailored to the job you are applying for. It is recommended to have additional certifications from an institute if you are fresher. The Institute of Professional Banking can help you create the perfect resume for the banking sector.

Prepare for Interviews

Before appearing for your interview, familiarize yourself with the bank. Have a good idea about the products and services offered by the bank. Frequently, the interviewer selects the candidates based on their working knowledge of the latest trends in banking and finance. You can become bank interview-ready with the Institute of Professional Banking’s postgraduate certificate in Retail Banking (PGCRB) course, where banking professionals will train you to crack your interview in the first go.

Importance & Benefits of Effective Listening in Professional Life

Stay motivated and hopeful

Looking for a job can be challenging. It may take longer than you expected. The key to getting your first job is to upskill. Pursuing a training program to gain application-based knowledge will help you secure a good position in the bank. It is important to stay positive in times of rejection or failure.

Each rejection will bring you closer to your dream job. You will gain experience from the mistakes you commit. Seeking counseling at the right time can also be beneficial. The Institute of Professional Banking has an expert team of counselors who can guide you toward a bright career in banking.

What is the Indian banking sector?

Indian Banking System includes commercial banks, regional rural banks, urban cooperative banks, and primary agricultural credit societies.

Who is the father of banking?

M. Narasimham is known as the Father of Banking in India because of his great contributions to the banking sector.

How many types of banks are in India?

There are 4 types of banks Central Banks, Commercial Banks, Cooperative Banks, and Regional Rural Banks.

How big is the banking industry in India?

The banking market is expected to witness significant growth in Net Interest Income, with a projection of reaching US$338.00bn in 2024.

Which bank is 100% government bank?

The 12 public sector banks are – State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab and Sind Bank, Indian Bank, UCO Bank, and Bank of Maharashtra.

Conclusion

Landing your first job in your dream bank is possible. Be consistent, well-prepared, and motivated to achieve your goals. A persistent person who progresses daily makes way for a successful career. Staying focused can make your journey easy.

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