The Latest Trends in the Banking Sector in India

The Indian banking sector has always been one of the most preferred paths of employment. If you’re looking for a career in the finance sector, banking is great place to start. The salaries are high, growth opportunities vast, and job satisfaction ample. However, banking jobs no longer entail the unidirectional path and skill set it once warranted. Global shifts and developments have made jobs in the banking sector diverse and more accessible. Hence, before you start looking for banking jobs in India, it is imperative that you know exactly what the sector is about, along with the countless roles, services and interactions involved.

So what is banking? Banks are institutions that deal with anything and everything related to money. It could be an individual’s money or a corporation’s wealth, and banks are the institution responsible for handling finances. Banking relates to the process of performing and overseeing the lending, borrowing and exchange of money.

Since the advent of globalization, the number of banks in India has increased manifold, and consequently, so have the number of banking jobs in India. Banks such as Citibank, HSBS, Deutsche Bank, Standard Chartered have opened multiple branches around the country, and are constantly on the lookout for banking professionals. With increasing competition between these conglomerates, banking services to customers have undergone a vast change with each institution wanting and needing to ensure customer satisfaction, and thereby loyalty. As a result, over the last few years, this has led to an interesting trend – the introduction of new kinds of roles in the banking sector. Initially jobs in banking sector made the most sense for individuals with a background in finance, i.e. those good with numbers and analytics. However, the face of banking jobs in India has changed with roles like relationship managers, risk analysts, credit analysts and account managers, among others, coming into the picture.

Typically, to land a job in the banking sector, the skills a candidate requires include business acumen, accounting, management and financial understanding. However, in the light of recent developments and industry shifts, the skills required by a candidate seeking banking jobs in India have undergone a slight addition. No longer are these jobs limited to candidates with mathematical or accounting backgrounds. Candidates with sales, marketing and communication, management and leadership backgrounds can also venture in to the sector.

One of the good things about these new trends in the banking sector is the fact that these roles are niche, and pertain to the development of specific skills. As a result, job security is prevalent; an important reality in today’s economic crisis-ridden world.

These changes in the Indian banking scenario have resulted in banking jobs becoming quite accessible to individuals from diverse educational backgrounds. Jobs in banking sector are available at the entry, mid and senior levels, salaries lie anywhere in the range of INR 20K to lakhs per month, and growth opportunities are ample. In fact, one of the most luring aspects of banking jobs in India is the fact that the growth factor increases in leaps and bounds. And while work hours are normally long, satisfaction is high and interspersed with lofty bonuses and perks.

Be sure to check out jobs in banking sector available in Delhi, Bangalore, Hyderabad, Chennai, Mumbai, Gurgaon, Pune and Kolkata on CareerBuilder.co.in.

CareerBuilder.co.in is a leading job portal in India. It provides all information about jobs in banking sector and helps job seekers and recruiters to reach their destination that is just right for them.