Introduction to Private Sector Banks:
The banks in the private sector are those whose private shareholders, as opposed to the government, possess a more significant portion of the stock or interest. Private sector banks hold 18.2% of the assets in the Indian banking system. Financial authorities in India divide the private sector banks into two categories, old and new. The free influx of new cutting-edge technology and foreign direct investment (FDI) brought about by India’s economic openness has dramatically expanded the significance of the private sector in the country’s economy. Due to the shift in the economics of the country, the private banking sector is growing astronomically. The opportunities and salaries are at par with the public sector banks. Unlike ruthlessly competitive exams in public sector banks like SBI, PNB, RBI, etc., private banks offer less resistance to employing young talents.
How are private banks ideal for your Banking Career?
1. No Entrance Exam:
Graduates do not need to prepare for a cut-throat competition exam yearly. Private banks are open to all graduates who are teachable. You can start your career with a few months of preparation and clear the basic test and interviews.
2. Fast Career Growth:
The pace of life in private is relatively faster. Every month comes with different opportunities to learn from and helps in growing. New challenges push the employees to level up.
The promotion process in private banks is based on merit rather than seniority. The fresher employee can rise levels faster than a senior who has stopped levelling up. It gives employees a sense of purpose and hard work, which pays off.
Salaries in Private Banks are now at par with the Public sector banks. Not only that, but the hike in salary is also more. It all depends on the results that you produce.
The private banks tend to post the employees near their hometowns. It is a subjective advantage, but some prefer to live with their family. It is not sure if your branch office will be near your residence, but it is likely to happen.
6. Foreign Trips:
If you qualify, the banks send their best employee on foreign trips for international banking needs. The banking sector is expanding globally now.
7. Hi Tech Environment:
The most significant visible difference would be the working environment. One can quickly feel the peaceful environment the moment he sets his foot on the premises of a private bank.
Grab the Opportunity to make a Successful Career:
Aspiring Bankers has designed all its courses to help students and professionals learn in-demand skills. Every section of the banking industry has been deeply analyzed, and important topics have been handpicked to offer the most industry-integrated banking courses. Visit the website to explore all the courses available and start your banking career. Here are the major career options in banking:
Bank Teller – Handles customer cash and deals with routine customer service at a branch (also known as a cashier).
Financial Clerk – Manages accounts payable and receivable regularly and ensures the smooth running of financial operations.
Accountant – Performs account analysis, auditing, or financial statement analysis.
Financial Advisor – Provides expertise for clients’ decisions around money matters, personal finances and investments.
Bank HR Manager – Manages recruitment, selection, and training, evaluates the performance of the staff, maintains the database records of the employees.
Bank Marketing Manager – Develops various marketing strategies and plans to boost sales and profits.
Financial Manager – Create financial reports, direct investment activities, and develop plans for the long-term financial goals of their organization.
Loan Officer – Evaluates credit worthiness and assists borrowers in the application process.
Investment Banker – Raises money for expansion and improvement, prepares a bond offering, negotiates a merger.
Financial Risk Manager – Identifies threats to assets, earning capacity, or the success of an organization.
Banking courses that guarantee a bank job:
Numerous online banking courses cover the essential modules that can help you get a bank job. These courses are not too expensive to burn a hole in your pocket and provide valuable content. Here are some of the top trending banking courses:
The modules are designed after profoundly analyzing the banking trends and in-demand skills. The self-paced course comes with 1 year of accessibility and can be completed in 3 months. Different modules like Banking System in India, Functions of Banks, Banking Sales & Service, Digital Banking, Risk Management and Professional Excellence are covered. Aspiring Bankers is the only platform that provides online banking courses with 100% placement assistance.
PGDM Banking and Finance (NIBM)
Established by the Reserve Bank of India and backed by the Government of India, the National Institute of Bank Management (NIBM) offers prestigious courses in Banking, Economics & Finance. Post Graduate Diploma in Management (Banking & Financial Services) is its flagship program to produce quality professionals in the Indian banking sector.
NSE PGP in Investment Banking and Capital Markets
It is s 10 months full-time/ part-time Post-Graduate Program in Investment Banking and Capital Markets (PGP IB & CM) course by the NSE Academy, designed to sculpt students into hardcore finance professionals armed with expertise in Investment Banking and Capital Markets.
BSE Banking and Finance
The Post Graduate Program in Banking & Finance (PGPBF) offered by the BSE Institute includes a comprehensive knowledge of banking operations, including FOREX markets, international trade and finance, bank credit, legal environment of banking and IT systems in banking.