It is a common perception known to all, which people have a predilection for jobs that pays well and involves office work. Since many years, especially after independence, the sector which has enchanted people due to the above reason is the banking sector. Banks have been an integral part of Indian culture and development.
Under various acts and laws, banking was brought under the control of government and the jobs thus created were government jobs. With globalization and liberal policies of the government, private banks were also allowed in India. The step was beneficial in the sense that people had many jobs on the offer. These bank jobs were liked by people, and for the freshers, they were a major attraction.
The banks paid their employees quite handsomely, relative to the other jobs in the same cadre. Moreover, a large number of people were easily recruited due to which many people who were disheartened about the dismal state of jobs were now more than happy to go for the jobs in banks. The pay packets were good, and there were additional benefits of working in the banks such as housing, transportation facilities and such. These were mostly seen in the government sector.
As the developmental process in the country went ahead, more and more branches of banks were opened in far and wide parts of the country. Even more and more private banks were allowed to open their branches. As the number of branches increased, the number of people in both officer ranks and clerical level were required to fill the incumbent posts.
Freshers now had a greater opportunity to fill up the posts and also had the assurance of furthering their careers into higher posts, albeit gradually. Another reason why banks were recruiting in large number is due to the diversification of their functions. In early days, banks were meant only for the deposit of money and withdrawal.
In recent years, the banks are engaged in a wide gamut of activities. They have forayed into the functions of mutual funds and insurance. Various people are depositing their money with the banks to be invested in the share market or gold funds. Also, the loan facilities extended by the banks to its customers are a major reason why these banks have allowed the increase in the number of posts.
The increase in the number of banks and their spectrum of activities has allowed the freshers as well as the experienced professionals to aspire for such banks jobs which are not only well paying but also bestow a sense of respect in the public domain. The qualifications are not very varied and stringent but the aspirants are required to pass the bank entrance exams that are conducted from time to time.
Different banks have their separate entrance exams and these exams select the students who wish to be a part of the particular bank which is conducting the tests. With a little dedication and thorough preparation, it is easy to crack these exams and people can get through into the jobs in bank. Overall, the reasons are many and the path to the banking jobs is easy. Once into the jobs, the prospects of a good career are ensured.
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