The primary functions of Banks are to receive deposits from the public at lower rate of interest and lend the funds at a higher rate. The banks meet their expenses, from and make profit out of the difference in the interest rates they give and the interest they collect. You should have a flair for finance and economy to enter the banking career. The working atmosphere, social status and the remuneration is attracting educated young people for a career in Banking. A career in Banking requires high degree of integrity.
Banks are the life line in any economy.
The entry point for the banking career is the interview you face with the recruiting team. You will be judged by your knowledge in the line. You need not possess any degree in finance to take up a career in banking. A school level education is enough to enter the line. You should have pleasing personality, interpersonal skills, and good in communicating and has a flair for numerals. It is better for you in your own interest to get equipped with the latest changes taking place in the banking sector. You will be trained by the bank in the various departments of the bank so that you will be able to gain knowledge, about the policy of the bank, products of the bank and the customer relations. Your pleasing manners should come to your help while dealing with the customers in your day-to-day work. You have lot of opportunities to climb up the ladder to higher positions in the bank.
There are various specialized departments in banks like, Foreign Exchange, Corporate lending, Home Loans, Auto Loans, Retail Lending, Mergers & Acquisitions, treasury, Human Resources, Insurance and share market investments. It is up to you to gain knowledge and go further up. To enter directly into any of the specialized fields, you should possess a degree in management from a reputed institution. You will be shouldering more responsibility in these departments of the banks. As you climb up in your career chances are that you will be subjected to lot of stress due to handling the public money. You will be dealing with public money and if some thing goes wrong somewhere you are answerable. The wrong doing might have happened with out your knowledge.