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.

Uneasy China hopes for stability in North Korea after purge

  • Sutirtho Patranobis, Hindustan Times, Beijing
  • |
  • Updated: Dec 12, 2013 16:59 IST

China on Tuesday said it wants friendly relations and hopes for stability in North Korea days after a powerful leader, considered close to Beijing, was purged from the party and government.

China, considered North Korea's most important ally and source of aid, was probably taken by surprise with the latest development in its neighbouring country when the political bureau of the Central Committee of North Korea's ruling Workers' Party announced its decision on Sunday to strip Jang Song-thaek of all posts and expel him from the party.

Jang was publicly dragged away by the police during a party meeting and then relieved of all power and posts.

Jang, the uncle of North Korea's leader Kim Jong-un, was stripped of his titles amid allegations of instigating dissent in the party, womanising, gambling and drug use.

In 2012, Jang had led a large delegation to China to discuss construction of special economic zones, agency reports said.

"We hope North Korea can maintain national stability, the people’s well-being and economic growth. China will remain committed to developing the friendly relationship between China and North Korea," spokesperson Hong Lei's said when asked about the development at the daily foreign ministry briefing on Tuesday.

Beijing’s unease at the development was reflected in an editorial in the state-run nationalist tabloid, the Global Times.

It said the relationship between the two countries was rooted in strategic interests and not Communist ideology as commonly perceived.

"As Jang was viewed as the second-most powerful figure and is North Korean leader Kim Jong-un's uncle, this announcement is considered a significant political event," it said.

The newspaper piece pointed that the reality of relationship between China and North Korea was different from what was perceived.

"China and North Korea have long taken different development paths. The two are not comparable in terms of politics and economy… China's friendliness and aid for North Korea are rooted in China's national interest, as are China's ties with and aid for Pakistan. Those who make an ideological interpretation of Sino-North Korea relations probably are living in past times," it said.

The editorial added: "A friendly relationship between China and North Korea is not only critical to the North, but also a strategic and diplomatic leverage for China. With China's rise, its diplomatic leverage will become greater, yet the impact of bilateral relations in the Asia-Pacific region is irreplaceable."

It added that to keep this friendly relationship should be China's mainstream mentality toward this neighbor.


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