India is an emerging job market. After opening the economy in the early 90s, there has been a surge in domestic growth which has contributed to a lot of job opportunities. The economic scenario in India has also witnessed a huge influx of funds from foreign players. Related to this, our stock market and financial institutions also registered considerable digitalisation and modernisation activities.
For many young Indians, a government job is still a safe haven irrespective of the glamour that private-sector jobs have to offer. This is mainly because of the security and stability of government jobs and the comfortable working conditions. There is also definite career growth in this sector.
Let us go through some highly sought opportunities in the Indian banking sector which you can take benefit of
The Reserve Bank of India or RBI sets rules and policies for the proper functioning and control of other financial institutions in India. It is the apex financial institution under the government of India which also handles the printing of Indian currency. All banks and financial institutions in India are supposed to follow the directives issued by the RBI.
All jobs in the Reserve Bank of India have attractive salaries and associated benefits. The basic pay for Grade B officers in 2022 (based on Employment News) is ₹ 55,200 and initial monthly gross emoluments are ₹ 1,08,404 (approx) excluding 15% of basic pay as HRA.
If you are not qualified enough to crack the RBI Grade B officer exam and still cherish a career in the Reserve Bank of India, RBI Assistant might be a great choice for you. It is still a job in the RBI and comes with a lucrative salary and other associated benefits. Career growth is almost certain in this position if you have great ambitions and look forward to an illustrious career.
Candidates applying should have a bachelor’s degree with at least 50% marks. Assistants will draw a starting basic pay of ₹ 20,700/- per month as per RBI notification for 2022 recruitment.
At present, the initial monthly Gross emoluments for Assistants will be approximately ₹ 45,050 excluding an additional 15% of basic pay as HRA (if not using RBI accommodation).
The State Bank of India, also known as SBI is one of the major financial institutions in the country. It is backed by the government of India and calls for applications for the position of Probationary Officers (PO) every year.
SBI PO is one of the most lucrative jobs in India for youngsters. Applicants should have a bachelor’s degree ( in any discipline ). The starting basic pay is ₹ 41,960 as per SBI PO 2021 notification.
IBPS PO is much similar to the SBI PO we discussed above. The exam is conducted by the Institute of Banking Personnel Selection. The only difference is that IBPS PO is recruited for banking jobs in nationalised banks other than the State Bank of India (SBI). The job offers a very attractive salary and associated benefits but is a little shy of what SBI PO has to offer.
You will need a bachelor’s degree to attend the exam. The basic pay for IBPS PO for 2022 is ₹ 36,000 and a gross of ₹ 57,289.70.
The Institute of Personnel Selection Regional Rural Bank Probationary Officer exam is for selecting officers. Any graduate can apply for the position of IBPS RRB PO. The expected monthly salary is ₹ 38,000 to ₹ 44,000 for Officer Scale-III as per the latest records.
The banking sector in India is full of opportunities. There are opportunities like SBI Clerk, IBPS Clerk, IBPS RRB Clerk etc where you can try your luck. They are as attractive as the above opportunities with great benefits and job security.