Money & Banking

Banks are now attracting job aspirants by the droves

| Updated on: Sep 21, 2011
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There seem to be far more people in queue for bank jobs than the vacancy position.

Going by what Mr V. P. Iswardas, Chief Executive, Catholic Syrian Bank, and Mr Shyam Srinivasan, Managing Director and Chief Executive of Aluva-headquartered Federal Bank, say, one is bound to think that the lure for bank jobs is back again.

While applicants might yearn for a career in the banking industry, the way in, bankers say, “might not be easy if the applicant fails to make an earnest attempt.”

Mr Iswardas, speaking to Business Line recently, said the bank received 26,000 applications for 300 vacancies (including 230 probationary officers and 70 clerical positions).

Written test

“These applicants are to take the written test on September 25. The examination is being conducted by IBPS (Institute of Banking and Personnel Selection); and would be followed by interview and screening of those who clear the written test. We are expecting the successful ones to join the bank by mid-January 2012,” he said.

Mr Srinivasan said that Federal Bank is looking to hire only at the entry level. It had outsourced the job to IBPS. “Around 45,000 candidates took the test, of which, only 2,000 cleared the written examination and were called for interview. After further filtering, we issued offer letters to 500 successful candidates,” he said.

While stating that hiring has been an ongoing process in banks, Mr Srinivasan said that Federal Bank hired 600 candidates at the entry level during the current year and proposed to add another 400 before the end of the current fiscal. “We will be adding 1,500 personnel between now and March 2013. Our manpower requirement assumes importance considering that around 1,000 are to retire in the next 12-24 months.”

Industry insiders say that getting the right person for the right job is becoming a tough proposition, be it the IT services sector or banking.

Published on March 13, 2018

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