- 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.
- 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
