More than 80,000 vacancies in Banks in two years, report says

bank jobs in indiaEvery year lakhs of aspirants from all over the nation prepare for the competitive exams in banking sector, for just over thousand or more seats. The competition has increased in this sector in past few years due to lucrative packages offered by the various banks. Many candidates manages to secure in the banking industries while leaving majority to try again years after years.

As per the officials, various banks from all across India plan to recruit as many as 80,000 staff in coming years. With such a vast number of openings in banking sector, this could prove to be a golden opportunity for the candidates looking for jobs in this industry. Owing to the big rise in retirements and opening of new branches, Finance Minister announced this forecast at Economic Editor’s Conference, which was held recently. The Government of India has further stated in this regard that approximately 50,000 clerks and 30,000 officers will be recruited by various nationalized banks across the country.

Apart from the banking sector, Government has estimated that there will be a huge job opening in other sectors like insurance companies and staff selection committees. As far as banking and insurance companies are concerned, the vacancies in this field will soon increase as it is estimated that around 30 to 40 percent of staffs are expected to retire from their offices in following years.

Corporate organizations believe that the reason behind the opening of huge vacancies is due to the increase in number of nationalized banks, which has now gone up to 21 this year. An initiative has already been taken up by the Government of India to recruit candidates in the banking sector. Common Written Examination (CWE) is conducted every year through Institute of Banking Personnel Selection (IBPS) by the officials to recruit the eligible candidates for various posts in the banking sector. And with the announcement of such huge openings, aspirants are rushing for the institutes which provide a crash course to crack such examination.

According to Sushan Ranadive, Marketing Manager of TIME Institute, the job scenario will surely increase in banking and insurance sector. “There were 94,000 vacancies in the market last year and this year the number is likely to cross the one lakh mark” he added to his speech.

As far as other coaching institutes are concerned, the vacancies in the coming years will cross over one lakh as State Bank of India (SBI) and Reserve Bank of India (RBI) conducts its own recruitment process and they both together account for over 15,000 vacancies every year.

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