With an estimated 85,000 vacancies in various PSU banks to be filled this year and new private players set to enter the sector soon, opportunities for aspirants can only rise.
At a time when there is a reduction in hiring and campus placements by the IT sector, banking is one of the few industries that is optimistic.
As the Reserve Bank of India is planning to open up the banking sector with new players set to be given licences, a lot of jobs will be created over the next few years. Keeping this in mind, NIIT IFBI is offering diploma programmes for students to get them ready for the times ahead.
Setting up new banks
Bimal Jain, president, NIIT IFBI, says, “With India close to fulfilling its long-awaited commitment of opening up more banks in order to achieve financial inclusion, job opportunities in the banking sector are set to rise. There are an estimated 85,000 vacancies in various PSU banks across the country for the year 2013-14 and the government is keen on filling these in the current fiscal year.” He adds, “As per other industry reports, 3,00,000 people will be hired by PSU banks alone in the next three years. Analysts are of the view that with the opening of new banks, at least 10,000 more jobs will get created.”
Speaking on programmes offered by NIIT IFBI, Jain says, “We have a range of programmes for various categories of BFSI aspirants and professionals. Our offerings are designed in the context of modern-day banking, insurance and financial services by developing competencies on four dimensions — domain, technology, application and customer-service.”
Elaborating further on the career prospects, Jain says, “A fresh graduate with an attitude to learn and a financial acumen is being sought after by all banks, both PSU and others. These are entry level jobs which can pay from Rs 2 lakh to Rs 5 lakh per annum.”
“The banking sector has been known to be stable and, banks invest big to keep the team agile and sharp to compete in the market. Given the size of the industry and reach of the banking network, many professionals have had rounded careers and varied growth opportunities.”
Even within banking, there are opportunities in a wide variety of sectors. Some of the sectors that are poised for growth in the banking industry are retail banking, SME, credit, rural, Agri and Forex where people are required in large numbers.
NIIT IFBI offers various postgraduate diploma programmes. The postgraduate diploma in Banking Operations (PGDBO) is a six-month programme with three months of full-time class work, followed by three months of internship. The postgraduate diploma in Retail Banking (PGDRB) is an exclusive career programme for Axis Bank. It is a three-term programme spanning three months of full-time class work, followed by one week of on-the-job training at a specified Axis Bank branch. The postgraduate diploma in Branch Banking (PGDBB) is a one-month programme with eight hours/day of full-time class work targeted at careers in Karur Vysya Bank.
For most of these programmes, a candidate should have successfully completed graduation. The fees for the courses range from Rs 50,000 to Rs 1 lakh depending upon the programme.