Banking is one of the fastest growing industry in India and they are considered as sunrise sector of Indian Economy. More so, the government is focusing on providing banking facilities in every village and town, under its Financial Inclusion scheme. And hence, more and more branches of the banks are being opened in every part of the country.
As the sector is growing very fast, it also needs manpower at various levels. Essentially the recruitment in bank sector happens at the following levels:
Bank Probationary Officer (Bank PO): This is a managerial position in a bank. After the essential 1 to 2-year training, candidates are designated as Assistant Managers (AM) or Deputy Managers (DM). Starting Salary as a Bank PO ranges from Rs. 30,000 - Rs. 40,000, depending upon bank to bank and location of posting.
Bank Clerks: As the name suggests, this is a clerical position in the bank and this can be considered as entry level job in a bank. Salary of a Bank Clerk is generally in the range of Rs. 20,000-25,000 depending on bank to bank and posting location.
Specialist Officers (SO): Banks also hire candidates for specialist profiles like – IT Officer, HR Officer, Marketing Officer, Finance Officer, Law Officer, Agriculture Officer etc. Usually, the grade and the starting salary of Specialist Officer is in the same range as Probationary Officers.
Every year, government banks recruit more than 1,00,000 candidates for various roles. So in the terms of the employment in government sector, Banking is the most lucrative sector to grab a government job.
Following banks are the main bank which are recruiting regularly over the years – State Bank of India, Reserve Bank of India, NABARD, SIDBI PSU Bank: Allahabad Bank, Andhra Bank, Bank of India, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab & Sindh Bank, Punjab National Bank, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Vijaya Bank, IDBI Bank, BharatiyaMahila Bank.
Every year, multiple exams are conducted for the recruitment of Bank PO, Bank Clerk & Specialist Officers. Broadly, these exams can be classified into following Categories-
IBPS PO: It is a common exam conducted by Institute of Banking Personnel Selection (IBPS) for 20 PSU Banks for the recruitment of Probationary Officers. IBPS Clerk: It is a common exam conducted by Institute of Banking Personnel Selection (IBPS) for 20 PSU Banks for the recruitment of Clerical Cadres.
IBPS Specialist Officers (IBPS SO): It is a common exam conducted by Institute of Banking Personnel Selection (IBPS) for 20 PSU Banks for the recruitment of Specialist Officers like Marketing Officer, IT Officer, HR Officer etc.
IBPS Regional Rural Bank Exam: Institute of Banking Personnel Selection (IBPS) conducts a common written exam for all the Regional Rural Banks of India (RRBs) for the posts of Probationary Officer, Clerical and Specialist Officers.
SBI Probationary Officer: State Bank of India conducts its own exam for recruitment of Probationary Officers.
SBI Clerk: State Bank of India conducts its own exam for recruitment of Clerical Cadres.
RBI Grade B Exam: Reserve Bank of India recruit officers (Grade B) through an All India exam. Through, there are very few jobs in this, but working with RBI has its own benefits and future prospects.
RBI Assistants Exam: RBI recruits Clerical Cadres through an All India exam. Again, a job in RBI is considered very prestigious.
Recruitment in government banks is generally done in three stage recruitment process. First two phases are written test, which are called Pre and Main; and last stage is the interview process. Shortlisting of candidates is done at each stage – Pre, Main and Interview.
Final merit list is prepared on the basis of marks in Mains and Interview (weightage: 80% Written Test & 20% Interview).