What are Banking Courses?
India has seen a spurt in institutions that offer banking courses in recent times, which can be a pointer to the increased number of job opportunities and the willingness of youngsters to serve the banking sector. With a large number of private and foreign banks expanding its operations in India, the financial sector, which was hitherto controlled by the nationalised and scheduled banks has seen a sea of change with new marketing strategies and customised financial products being implemented on a day-to-day basis.
This has resulted in an increased demand for quality banking professionals adept in bank management and other related areas. Banking courses offered by various institutions and universities are designed to train aspiring youngsters in the banking industry. They not only help students grasp the intricacies of the banking system but also impart a structured training schedule to make them experts in various core-banking areas.
Students can pursue various banking courses at the undergraduate level with BBA (Banking and Finance) and B.Com in Banking Management being some of the popular ones. For those who have completed their graduation, an MBA from a reputable institute or PGDM in Banking and Financial Services Management offered by IIMs opens the door automatically to the top echelons of the banking industry.
In addition, there are a large number of postgraduate degree or diploma courses that train and prepare them for a job in the banking sector, especially in private sector and foreign banks, which absorb freshers through a more personalised process. Further, specialised banking courses are offered by the National Institute of Bank Management (NIBM), Pune and Indian Institute of Banking and Finance (IIBF), Mumbai.
While banking courses are an added bonus, anybody who wants to secure a job in the nationalised or scheduled banks will have to pass and secure a good rank in the common entrance test organised by the consortium of nationalised banks, which conduct probationary officer exams and clerical grade exams on a regular basis.
Certain private sector banks have tied up with some educational institutions to offer banking courses tailor-made to suit their demands with students being absorbed by the concerned bank on the satisfactory completion of the course. These are usually self-financing courses but banks offer educational loans at liberal rates to deserving students who can pay back once they join the concerned bank.
Furthermore, there are many cooperative banking courses offered by institutions that train students in various aspects of cooperative banking, which is a prerequisite for recruitment into cooperative banks. One can join these courses soon after passing out grade 12 exams or a postgraduate degree program.
With the banking sector on the upswing, the job prospects for those who have undertaken banking courses are definitely looking rosy. Nationalized banks recruit freshers for the post of clerks and probationary officers and provide ample opportunities to the new recruits to climb the ladder. Those who have joined as clerks can write the officer-level exams for getting promoted to the officer cadre after gaining experience and completing the stipulated time period into the system. Also, probation officers are promoted as grade I officers, senior officers, managers, senior managers, regional managers, and assistant general managers in a time bound manner with the quality of work, interest, learning, and involvement, proving to be the real benchmarks.
Further, there are jobs in plenty of private sectors and foreign banks but the organizational structure and promotional prospects are different from that of nationalized banks. Also, private sector banks are hiring those who have the aptitude for selling on posts, like direct marketing executives and personal bankers.
Other specialized jobs which are associated with banking courses and require core area expertise are that of asset manager, credit and risk manager, portfolio manager, fund manager, financial analyst, loan officer, risk analyst, securities analyst, stock analyst, treasury manager, forex manager, internal auditor, tax assistant, etc.
Skill Sets Required:
Banking courses can equip students with the knowledge required for the banking industry, which is getting more product-oriented than ever before. So anyone who aspires for a banking job these days should have a flair for soft marketing along with the skills to back it up. Since banking involves a lot of trust, any banker should be reliable to make the customer feel that he is safe when dealing with the bank and should be able to convince the customer accordingly. He should have a sound understanding about the fundamentals of banking along with a proven expertise in his core area within the bank.
Since banking involves financial transactions that can run up to large numbers, one should have an eye for detail and the ability to crosscheck regularly. He should have a fancy for numbers because numerical ability is an important part of accounting and banking finance.
With competition in the banking sector rising all the time, gone are the days when bankers used to work between 10 am and 5 pm. After choosing your desired banking course and completing the same, you’ll naturally look for a banking job. For that, you need to be flexible and work for longer hours depending on the requirement.