Banking sector may create approx 20 lac new jobs in next decade

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27 Nov 2015

Banking sector may create approx 20 lac new jobs in next decade

The banking sector may create up to 20 lac new jobs in the next decade according to experts, supported by issuance of new licenses and efforts being made by the RBI and the Government of India to expand financial services into rural sectors. Public sector banks will further boost hiring trend, as many of them would need to hire fresh talent as nearly half of their workforce is scheduled to retire in the next few years.

Banking sector is expected to generate 7-10 lakh jobs in the coming decade and the sector would be the among top job creators in 2016.

With only less than 30 per cent of the Indian population having access to bank accounts, Banks and other banking firms are looking to expand and venture into the untapped rural markets that have lot of potential to boost growth and profitability margin.

Experts are of the opinion that hiring in the banking sector is expected to happen across regions of lower tier cities and looking at the recent trends these will be one of the biggest beneficiaries. Considering this remarkable growth, institutes have started coaching classes of Bank- PO classes in Delhi.

With the new opening of banks in Tier 2, 3 and 4 cities, there will be growing demand for business managers, sales executives and other banking professionals to reach out to the rural population and provide them promised services. Tier 2,3 and 4 cities would also be the beneficiaries as most of the existing banks are looking to expand into these cities to tap the untouched segment.

BANK PO eligibility

Candidates appearing for PO exams should be between 20 and 30 years and must have completed graduation in any discipline.

Bank PO Paper Syllabus

The Bank PO is an online exam, which is divided into three phases–

Phase1 – It comprises of 100 objective type questions in the English Language, Reasoning Ability and Quantitative Aptitude, which is allotted one hour exam time.

Phase2 – It is the main examination, which consists of objective type questions and descriptive questions. The objectives are sub-divided into four parts: English Language, General Awareness, Data Analysis and Reasoning whereas the descriptive type is mainly a letter and essay writing.

Phase3 – It consists of a group discussion and an interview.

The English Language syllabus for the PO examination is related to vocabulary, grammar, and comprehension.