Top career options in Public Sector Banks in India
As of March 2019, the workforce employed by the banking sector was 1.38 million. According to an estimate by NSDC, another 1.6 million people will be added to this, by 2022. The banking sector in India has always been one of the top choices for aspirants on the brink of starting their careers. It is an evergreen industry and the remuneration, as well as the benefits for employees, are perks that attract so many candidates. This is especially true for jobs in public sector banks. Working in a public sector bank in India is considered to be highly reputed and respected in society, making it one of the most in-demand jobs.
If you are a banking job aspirant, check out this list of the top career options in public sector banks in India.
- RBI Grade B Officer – For banking aspirants wanting to work in India’s banking sector, RBI Grade B Officer is one of the most sought-after jobs. RBI Grade B Officers are responsible for keeping inflation under check, circulating coins and currency to several nationalized banks, and managing state as well as government accounts. To become an RBI Grade B Officer, candidates need to clear the phase 1 and 2 of written examinations as well as the interview. After this, they are on probation of 2 years wherein they are posted anywhere in the country. The basic pay of an RBI Grade B Officer is Rs. 35,150 and also receive additional benefits such as house rent allowance, dearness allowance, and family allowance, making their monthly in-hand pay approximately Rs. 75,000.
- RBI Assistant – Another reputed banking job post is RBI assistant. They are responsible for filing work, replying to emails, doing inward and outward mail entry, data entry and making RTI applicants happy. The basic pay of an RBI assistant is Rs. 8040, along with city compensatory allowance, dearness allowance, house rent allowance, transport allowance, and others, making their in-hand monthly pay around Rs. 24,500. They also get accommodation facilities if available, conveyance expenses, books, and newspaper allowance, and other such perks. RBI assistants can also get promoted after 5 years as an assistant by taking the departmental examination.
- IBPS PO – IBPS PO stands for a probationary officer in a public sector bank. The exam for this post is conducted by the Institute of Banking Personnel Selection. Candidates need to give the prelim exam, the main exam, and the interview and clear all three to become probationary officers. They are allotted a bank based on their merit as well as preference and can be posted in any branch of the bank across the country. Probationary officers are responsible for handling customer complaints and issues, issuing ATM cards, DDs, and checkbooks, managerial tasks, managing cash balance, and others. The basic pay of an IBPS PO is Rs. 26,706, along with house rent allowance, compensatory allowance, special allowance, and dearness allowance, making their in-hand monthly pay around Rs. 37,068.
- IBPS RRB PO – RRB PO stands for Regional Rural Banks Probationary Officer. Candidates need to appear and clear the Prelim and Main exams as well as the interview, to get appointed as IBPS RRB PO. They are responsible for providing credit and other facilities to small and marginal agricultural labourers, farmers, and entrepreneurs in rural areas. The in-hand salary of an IBPS RRB PO is around Rs 40,000. They also get perks such as medical benefits, lease accommodation, and travelling allowance.
- IBPS Clerk – The post of an IBPS Clerk is an entry-level position. They are responsible for resolving customer issues, updating passbooks, verification of documents provided by customers, issuing cash receipts and DDs, maintain balance sheets and ledgers, and other such tasks. IBPS Clerks can get promoted after a minimum of two years by internal exams. Their initial basic pay is Rs. 11765 along with special allowance, house rent allowance, dearness allowance, and others, making their in-hand pay around Rs. 19,500 per month. They might also receive medical allowance once a year and leased accommodation. To become an IBPS Clerk, candidates need to give the IBPS Clerk exam which has two levels – preliminary exam and main exam. There is no interview for the selection of candidates for this position.
- IBPS RRB Clerk – The role of an IBPS RRB Clerk is similar to that of an IBPS Clerk. They are responsible for handling receipts, withdrawals, mails, and delivery. Candidates need to take the IBPS RRB Clerk exam for this post. Their job location would be rural areas of the country and their salary is around Rs. 20,000 per month.
- SBI PO – SBI PO is similar to IBPS PO. State Bank of India conducts its own examination to recruit probationary officers for its branches in India. Candidates need to give the SBI PO exam which has three phases – preliminary exam, main exam and the interview to get appointed as probationary officers. Their monthly salary is around Rs. 42,000 to Rs. 47,000 and are responsible for managing banking operations and handling administrative work. SBI PO’s receive lots of benefits and also get promoted every 3 to 4 years. Hence, they have great opportunities for career growth. If you are an SBI aspirant, click here to learn about the exam and other details.
- SBI Clerk – Similar to IBPS PO Clerk, an SBI Clerk is responsible for tasks such as data entry, opening new accounts, maintaining ledgers and others. Candidates aspiring to become SBI Clerks need to give the SBI Clerk exam that has two phases – prelims and main exam. After clearing both phases, they get an appointment letter from SBI. They may be designated as depositors, cashiers or other posts depending on their branch. SBI Clerks get a starting basic pay of Rs. 19,900 and allowances, making their monthly pay around Rs. 29,000. They also receive benefits, such as medical, leave-fare, and provident funds.
- NABARD Grade A and B Officer – NABARD stands for National Bank for Agriculture and Rural Development. NABARD Grade A and B Officer posts are managerial positions. Grade A officer is the post of assistant manager. They are responsible for carrying out tasks assigned by the Chief General Manager and other miscellaneous tasks. Their basic salary is Rs. 28,150 and their monthly salary after allowances is around Rs. 62,600. Grade B Officer is the post of Manager. They are responsible for maintaining customer relationships, approving loans, coordinating with different departments, and others. They receive a basic pay of Rs. 35,150 along with allowances and perquisites, making their monthly salary around Rs. 73,600. Candidates aspiring for these positions need to give the respective exams for each post.