Monday, May 16, 2011

45,000 vacancies to be filled in banking sector for year 2011-12

The growth in the banking sector has crested a lot of job opportunities. The banks are suffering form a lack of human resources as the banking sector on a roll and all the banks are expanding at a very fast pace. To meet their requirements public sector banks are planning to hire around 45,000 personnel during year 2011-12.

The Director of Institute of Banking Personnel Selection (IBPS), Mr. M Balachandran said "Approximately 45,000 officers and staff would be recruited by (nationalised) banks this year."

Apart form the expansion the other reason that has contributed to the human resource crunch in the banking sector is the fact that a lot of the banking personnel are on the verge of retirement and that is why the banks is hiring in bulk.

The other major factor is that in order to maximize their profits banks are foraying into activities like insurance policies and mutual fund schemes; it has also created a job opportunities in the banking space.

For the recruitment, IBPS will start conducting a common entrance test from July; the banks will then call the candidates for an interview in the basis of their scores they have secured in the common test.

Out of 26 public sector banks, the exam will be valid for only 19 banks. SBI and its associate banks will continue to conduct their separate exam to recruit employees.

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