People who are looking for a financially stable and secure job during these difficult times should consider working for a bank. People with a variety of skill sets can find employment in the banking industry, which has a wide range of roles and opportunities.
There are enough and more bank jobs to go around, with over 20 public sector banks, 40 foreign banks, and 22 private banks. For mid and senior-level roles, there are a number of independent recruiting bodies such as Reserve Bank of India, State Bank of India, and the indian Banking Personnel Selection (IBPS).
The Bank PO exams, on the other hand, are the most well-known among aspirants (SBI PO & IBPS PO). In this article, we'll explain why the Bank PO position is one of the most sought-after positions for both new and seasoned employees.
There isn't a Lack of Options
In order to land a position as a probationary officer at a reputable bank, you can take one of the following two routes:
Each year, between 1000 and 4500 positions are available in the IBPS PO (Immigration and Border Protection Service).
2. SBI PO – approximately 2500 vacancies per year.
It's never too late to apply for the IBPS PO if you've been on the fence. An additional 1417 jobs have become available, and the application deadline has also been extended. Please apply for the IBPS PO as soon as possible. As a reminder, if you have already applied for the IBPS PO Admit Card, please know that it will be available much later than expected. The outbreak of the COVID-19 pandemic is likely to result in a lower level of competition this year. One reason for the extension of the application deadline could be a lack of submissions.
The large number of open positions has an adverse effect. Over 10.8 million candidates applied for the IBPS PO, and approximately 7.5 million candidates took the IBPS PO prelims. In order to put that in perspective, there were only 4336 open positions. A total of over 20 lakh aspirants applied for the approximately 2000 SBI PO positions that became available in 2019. Every year, bank PO selection is extremely competitive and ruthless.
2. A Generous Payroll and Other Benefits
Including Dearness Allowance (DA), House Rent Allowance (HRA), as well as other special allowances, bank POs can expect to receive a monthly salary in excess of INR 40,000. A bank PO is also eligible for a number of other perks and compensation. The following is a list of each of them:
Official lodging and a travel stipend
– Around 8,000 rupees in medical assistance (based on the revised pay scale)
– Retirement benefits (covered under the new pension scheme)
Opportunities to Advance Your Career & Advance Your Education
Every three to five years, a bank PO can expect to be promoted to the position of manager. The salary associated with each promotion grows at an exponential rate. To move up the ranks more quickly, bank employees can take department-specific internal examinations that are held on a regular basis.
Scale of Designation
An Officer on Probation
Sr. Manager – Scale II Sr. Manager – Scale III Chief Manager Senior Management – Scale IV Assistant General Manager Senior Management – Scale V
Exceptional work-life harmony
Working a 9-5 schedule with many paid holidays and vacation days is the norm. It's not as stressful as working in corporate or IT. Let's not forget the sense of fulfilment and joy that comes from making a difference in people's lives every day.
Five. A chance to see and experience different locations.
Bank branches all over the country may be used to transfer you. If things go well, your job could even take you to another country.
Among the duties of a bank PO are the following:
Supervising and controlling the flow of money.
Making sound business decisions that will benefit the bank.
Issuing chequebooks, ATM cards, and demand draughts, among other things.
Dealing with loan-related issues and paperwork, as well as making in-person visits