Why Banking as a career?
The graph below shows the growth in the total number of employees between 1972 and 1990 in all scheduled commercial banks. All recruitments almost stopped between 1990 and 2011. Now those who joined between 1970 and 1985 are retiring in bunches. It is expected that 75000 to 1, 00,000 bank employees will be retiring every year from 2012 onwards. The gap created by this mass exodus can be filled only by recruitment of more employees both as clerks and officers.
“In the next five years, banks will have to recruit almost 7.5 lakhs people”
-Mr. M. Balachandran, Director, Institute of banking and Personnel Selection (IBPS)
Those who join the bank now will grow fast in their career as many of the senior management positions are vacated because of retirement. This is a great opportunity for young men and women who want to make banking as their career.
"Public sector banks will hire 63,200 persons in the current financial year", Finance Minister P Chidambaram said. "The country's largest bank will alone recruit 20,000 clerical staff and 1,200 officer level employees. Besides, other public sector banks will hire 22,000 officers and 20,000 clerical staff in this fiscal.
So there are many opportunities for the young men and women to build the career in banking. It's a very attractive career and young men and women must take advantage that the banks are recruiting so many people," Finance Minister Mr. P. Chidambaram