Banking Sector in India
Hi Friends...over the last
few months, I have had an increasing number of graduates seek my counsel on career
opportunities in the Banking sector in India. As a man of the world, I take keen
interest in skill-gaps across sectors. Therefore, I believe the time is right
for me to put my thoughts on paper for the benefit of my readers.
The Indian Banking
Industry is fairly mature in terms of supply, product-range and reach. Banking in
India employs 1,175,149 people in a total of 109,811 branches in India and 171
branches abroad (2010 figures). Table1 below gives a very broad picture of the
structure of the Banking sector in India. There are a total of 361 Scheduled
Banks in India of which 293 are commercial and 68 are cooperative.
Table1
(2013 figures)
Table2 below provides a picture of the employment scenario at banks in India (note: figures from Regional Rural Banks and Cooperative Banks are not included). Public Sector banks contribute to ~70% of all banking employees. New private and Foreign banks together account for ~20% of employees. In terms of growth, maximum growth is seen in the new private sector banks.
Table2 (2013 figures)
The RBI is also set to grant new banking licences this year. While 25 companies have applied for licences, sources claim that fewer than half a dozen will actually get licences. Once licenses are obtained (probably soon after the new government is formed post elections), each company will get 18 months in which to submit a business plan. Thus, mass recruitments at newly licenced banks are ~2 years away. However, given the maturity of our public sector banking and the dynamism of our private sector banking...and throwing the newly licensed banks into this mix, 2014-15 seems a good time for fresh graduates to enter the banking sector in India.
Would love to read your
comments on this post any answer your queries, if any.
Sources:
Wikipedia
RBI Profile of Banks
posted by Vedant Patwardhan @ 1:05 PM
1 Comments
