The result of the
Ibps PO examis out now! Are you amongst the unlucky ones, who couldn’t clear the
Bank PO interview, despite all the effort put in? Don’t worry! This isn’t the end of the road for your career.rnThere is a world of opportunities waiting for you in the Banking Sector – the Private Banking sector. In this article, we will discuss briefly about why you should look at the private sector, the various roles available and how you can get there!rnWhy the Private Sector? Let’s get something straight! Public sector bank jobs are no more your relaxing, settled for life peaceful jobs! Bad debts piled over years have led to a major shakeup. The government is getting Public sector banks to follow their private counter parts in terms of efficiency, HR policies, Risk Management etc. Targets and sales pressure will also become a reality here; but you may not see the same level of growth, than you can in the Private sector.rnReads: rnWhat is the Private Sector?rnThe Private sector consists of banks – where the majority ownership is held by the private stakeholders and not by the government. Currently we have 13 old pvt sector banks and 7 new pvt sector banks. We also have many Non-Banking Finance Companies, or NBFCs : some of which are as large as a bank!rnHow is a Private sector bank or NBFC, different from a Public sector bank?rnRemember:rnPrivate sector banks and NBFCs, do not hire through an aptitude test! You need to stand out during the application process; perform well in the
IBPS Interview AND you are expected to start performing from the start.rnSo, your approach must be different. You need to gain banking knowledge and you need a serious industry endorsed certification that shows your interest and helps you stand out. Let us understand the specific opportunities, and the required certification.rnOpportunities in the Private Sector:rnWhat are the divisions in banks and NBFCs that you can aim at getting into?rnBRANCH BANKING:rnBranch Banking refers mainly to the servicing of deposits. While a lot of transactions have moved online, India being an under banked country, the number of branches is only increasing. As per a report, ICICI bank alone plans to add 400 new branches in the coming financial year. So, the requirement for skilled manpower is more than ever.rnApart from the existing old & new pvt sector banks, RBI has recently issued new banking licences out of which 11 new banks are already operational. Two full service banks (IDFC and Bandhan), 7 Small Finance Banks and 2 Payment Banks. For this role, you can look at:
‘Branch Relationship Manager Program’ by a senior IIM company:
www.learnwithflip.comrnThis online, industry recognized certification program, covers branch banking products and services, in detail. It also covers payments; and retail trade and forex.rnModules from this course are used by State Bank of India for online pre-joining induction of their Probationary Officers!rnGetting this certification will ensure (1) You have the requisite knowledge to get the job (2) You have a powerful certification endorsed by leading banks on your CV.rnOther ways to gain entry to branch banking in private sector banks is through programs like the ‘ICICI Probationary Officers Programme Post Graduate Diploma in Banking’ or ‘Axis Bank Young Bankers program ‘or ‘Virtual Relationship Manager program by HDFC’rnHowever, these programs come, after the interview selection process. The road to a job is a long and a REALLY EXPENSIVE one! Ranging between 12 to 18 months these programs will cost you 3.5 to 4 Lakhs.
CONSUMER LENDING:rnYou are buying a brand new car and are looking for a loan. The business area that deals with loans to individuals and small businesses is called Consumer Lending. Graduates are hired in large numbers, for a role in consumer lending. Apart from Banks, there are also NBFCs like Tata Capital, Bajaj Financial services that recruit in consumer lending.rnSome of the programs in this area are:
Certification Program in SME Lending by IFBI-rnThis program has been offered by Religare Finvest in collaboration with IFBI. To pursue this course, you will have to appear in an interview conducted by IFBI. This Program consists of 30 days of residential training at IFBI campus. Currently the admissions are open only at Delhi.rnConsumer lending by
www.learnwithflip.com-rnAs Consumer Lending is a relatively new area, there are very few certifications specific to India, which are available. A popular online industry recognised certification program, this covers loan products in detail. It also covers key lending terminology. Absolutely essential for a career in banking, it prepares you for opportunities in both banks and NBFCs. It is used by NBFCs like Tata Capital, Bajaj Finserv and Capital First, to train their new hires – so it will work well for you. Don’t wait for a year, try again and spend the rest of your interviews, trying to explain the gap on your CV. Invest in a small amount and start your career in Private Banks. Let private banks be the starting step, Success follows failures! Hope this helps you.