The Hindu Business Line : `Competition in financial sector has raised job opportunities'

INCREASING competition in the financial sector has fuelled a growth in job opportunities, with organisations in need of professionals with specialised skills, said the IFMR Director, Mr R. Kannan, delivering a BL Club lecture at the Meenakshi College for Women here today.

Liberalisation has encouraged competition, and "the changes brought about by competition in banking has made commercial banks the biggest recruiter," he said.

Mr Kannan, whose lecture was on `Job opportunities in the financial sector,' said employment prospects are immense in retail banking and equity analysis (in investment banking). "They present the biggest growth area." He pointed to an explosion in the number of financial products, which has boosted retail banking, as also analysts' view of India as a promising destination for investment banking.

"Micro finance is also an emerging area," he said, listing out analysis of creditworthiness, data analysis and strategy as key functions that would present opportunities for professionals.

The same is true for commodity exchanges, which would grow bigger as the Government seems committed to preventing exploitation of farmers by middlemen.

With options for consumers increasing after the entry of private players, insurance companies too need more skilled employees across a variety of functions, he said.

Earlier, Ms K.S. Lakshmi, Principal of Meenakshi College, said the college would try to introduce BA and MA courses in business economics from the next academic year.

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