If a bank job is your dream, the coming months are likely to see an uptick in the job offers.

    The employment opportunities in the banking sector will open up during October-November period with the Reserve Bank of India expected to issue small and payment bank licences next month.

    Headhunters said that there has been a “huge” increase in the interest from Indians residing outside the country to get back home, and are looking for mid to senior level executive posts in the banks.

    At least 40,000 new jobs are expected to be generated in the next couple of years in the banking sector alone.

    “We have been receiving piles of applications seeking jobs in the banking sector from Indians living abroad,” a Delhi-based search firm said.

    The reason for this, headhunters say, is that India is poised to grow faster than any other economy in the next few years, while Europe will remain uncertain with the Greek crisis though the US economy has started showing signs of a revival.

    “There will be thousands of fresh jobs in the banking sector and recruitment would start by October. There will be clarity once the bank licences are issued,” said Ronesh Puri, MD, Executive Access.

    “Unless an existing microfinance company, or non-banking finance company, is converting into a bank, all others would require large number of employees,” Ashvin Parekh, managing partner, Ashvin Parekh Advisory Services said.

    Job search firms also said that several employees engaged with the existing banks – both private and public – are looking for a switch.

    “There is likely to be exodus as well,” a senior executive at a large private sector bank said. Sources also said that hundreds would be tapped from the public sector banks, where most employees have to adhere to the government pay scale, which are significantly lower than the private sector.

    Small banks will be able to provide only basic banking services of acceptance of deposits and lendings. A payments bank will be able to accept deposits, issue ATM and debit cards, and allow payments and remittances. IIFL Holdings, SKS Microfinance, among others have applied for small banks licence, while Airtel M Commerce, India Post, among those have sought payment banks.

Shinde begins 3-day visit to J&K

  • PTI, Jammu
  • |
  • Updated: Oct 12, 2012 14:09 IST

Union home minister Sushilkumar Shinde on Friday began a 3-day visit to Jammu and Kashmir from Poonch district to review the security situation along the Indo-Pak border and hinterland as well as cross LoC trade.

Shinde, who arrived here this morning from New Delhi, was received at the Jammu airport by minister of state for home Nasir Aslam Wani, director general of police Ashok Prasad, senior officers of paramilitary forces and the provincial administration.

He directly headed to Poonch district in a BSF chopper, where he is scheduled to visit Chakan-Da-Bagh, a crucial point for travel and trade between the two sides of Line of Control (LOC), officials said.

He will review the progress of the cross LOC trade and also meet a delegation of traders to discuss their problems, who are expected to present a memorandum to Shinde.

The union home minister is scheduled to return from Poonch this afternoon and fly to Suchetgarh forward area in RS Pura border belt in Jammu district where he will review the security situation at Octerio Border Out Post, they said.

Shinde will also take stock of the situation prevailing at the International Border in Jammu sector, especially in the backdrop of a 550 metres long tunnel connecting Pakistan and India being uncovered at Chechwal in Samba sector.

He will meet several local delegations, including one from Congress, in the circuit house before his departure to the Kashmir valley.

In the state's summer capital Srinagar, he is scheduled to chair a meeting of the unified headquarters on Saturday to review cross-border infiltration in Jammu and Kashmir.

Shinde had made his maiden tour to the state after assuming the charge of the home department by visiting Leh and Kargil towns last week.


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