About Banking Industry
- India’s banking sector is currently valued at INR 81 trillion (US$ 1.31 trillion).
- Banks are now reaching out to the masses with technology to facilitate greater ease of communication, and transactions are carried out through the Internet and mobile devices.
- India’s banking sector has the potential to become the fifth largest banking sector globally by 2020 and the third largest by 2025.
- With the Parliament passing the Banking Laws (Amendment) Bill in 2012, the landscape of the sector will likely change. The bill allows the Reserve Bank of India (RBI) to make final guidelines on issuing new bank licenses.
- This could lead to a greater number of banks in the country; the style of operation could also evolve with the integration of modern technology into the industry.
- Banking is one of the largest employers in India and has the potential to provide over 7, 50,000 jobs in the course of the next five years.
- Access to banking system has also improved over the years due to persistent government efforts to promote banking-technology and promote expansion in unbanked and non-metropolitan regions.
- The industry has witnessed discernable development, with deposits growing at a CAGR of 21.2 per cent.
Career Prospects in Banking Industry
- Branch Manager in Retail Banking
- Business Development Manager in Corporate Sales
- Business Development Manager Broking
- Portfolio Manager
- Banking Business Analyst
- Banking Customer Service Manager
- Bank Loan Manager
- Assistant Bank Manager