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Nationalisation
of the major commercial banks in India in 1969/1980 brought almost the
entire banking system within the public sector. State Bank of India being
the top commercial bank of the country. The
Private sector with the entry of new banks mostly promoted by the major
Financial Institutions like IDBI, ICICI etc has provided competition to
both Public sector and Foreign Banks. They are more technology savvy and
offer better salaries than Public sector Banks. Unlike public sector
banks, the promotional avenues are not time-bound. Foreign
Banks are the most sought after due to their salary packages comparable to
the best in the country and better job profiles. However, in addition to
personal performance, the job security in these banks is also dependent on
various external factors, like the economy of the parent country,
performance of the bank worldwide, change in expatriate management etc. Public
sector Banks recruit mainly graduates at the entry level on the basis of
All India Level examination. However professionals like engineers,
doctors, technologists, lawyers, ex-defence officers etc are recruited on
senior positions through All India tests. Private
sector/Foreign Banks prefer to take MBA's, CA's etc at junior positions
through Campus recruitment and interviews. However, at the senior
positions they opt for experienced bankers. Thus the officers from Public
sector Banks become the natural choice for such positions. Thus
job-hopping has become an well-accepted norm in the Industry. Therefore
joining a Public sector Bank as Probationary Officer (Direct Officer) on
the basis All India exam has become a stepping stone for the career growth
in the Banking Industry. |
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