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Article - Why Banking As A Career? | Perfect Mentors

Why Banking as a Career?

Why Banking as a Career?

Banking sector is one of the fastest growing sectors in India. Apart from public sector, private sector and foreign banks, new players in small Finance banks and payment banks are also emerging, thus expanding the horizons of the sector. The formalization of banking sector, started with Banking Regulation Act, 1949. In the last two decades the banking scenario has quite changed due to change in traditional way of banking, technology and push towards financial inclusion.

 

How to get there

There are many entrance level examinations conducted through which one can get entry in Banking Sector. A list of such exams is listed below:

 

Reserve bank of India Grade B Officer

 

Eligibility- Candidates must be between 21 to 30 years. Age limit is different for M.Phil., Ph.D. and experienced candidates etc. for which the detailed notification needs to be referred to.

Generally, a minimum of 60% marks (50% in case of SC/ST/PWD) or an equivalent grade in Bachelor’s degree as well as in 12th (or Diploma or equivalent) and 10th standard examinations is needed.

There is a cap on the number of attempts as well for candidates in general category.

 

Examination Pattern-

Selection is done through on-line Examinations and interview. Examinations are held in two phases as following

 

(I) Phase-I online Examination – It is objective type examination consisting of

(i) General Awareness

(ii) English Language

(iii) Quantitative Aptitude and

(iv) Reasoning

Candidates have to secure minimum marks separately for each test as well as aggregate, as prescribed by the Board. Candidates, who secure minimum marks separately for each Test, as prescribed, will be shortlisted for Phase-II of the examination based on the aggregate marks obtained in Phase-I. The minimum aggregate cut-off marks for being shortlisted for Phase-II of the examination will be decided by the Board in relation to the number of vacancies.

There will be negative marking in the objective Paper which will be equal to ¼ of the marks allotted for every correct response. However, there won’t be any deduction for a question not attempted

 

(II) Phase-II online Examination: The Phase-II online Examination is conducted only for the candidates who are shortlisted on the basis of results of Phase-I.

Phase–II online examination consists of three papers as under:

(i) Paper I – Economic and Social issues – Objective Type

(ii) Paper II – English (Writing Skills) - Descriptive, to be typed with the help of the keyboard

(iii) Paper III – Finance and Management

 

(III) Interview: Candidates are shortlisted for the interview, based on aggregate of marks obtained in Phase-II (Paper-I +Paper-II +Paper-III). The minimum aggregate cut off marks for being shortlisted for Interview is decided by the Board in relation to the number of vacancies.

For the detailed syllabus of the papers, candidates need to refer the detailed notification of the exams published by RBI, generally in the month of June-July every year.

 

State Bank of India Probationary Officer

 

Eligibility- Candidates must be between 21 to 30 years. Age limit is different certain categories for which the detailed notification needs to be referred to.

Graduation in any discipline from a recognised University or any equivalent qualification recognised as such by the Central Government is the minimum applying criteria.

 

Examination Pattern-

The examination consists of preliminary and main exams followed by interview.

 

(I) Phase-I online Examination – It is objective type examination consisting of

(i) English Language

(ii) Quantitative Aptitude

(iii) Reasoning Ability

Candidates have to qualify in each of the three tests by securing passing marks to be decided by the Bank. Adequate number of candidates in each category as decided by the Bank (approximately 20 times the numbers of vacancies subject to availability) will be short listed for the Main Examination

 

(II) Phase-II: Main Examination: 

Main Examination consists of Objective Tests for 200 marks and Descriptive Test for 50 marks. Both the objective and descriptive Tests will be online. Candidates will have to answer Descriptive test by typing on the computer. Immediately after completion of Objective Test, Descriptive Test will be administered.


(I) Objective Test:

The candidates are required to qualify in each of the Tests by securing passing marks, to be decided by the Bank. The sections are:

1. Reasoning & Computer Aptitude 
2. Data Analysis & Interpretation 
3. General/Economy/Banking Awareness 
4. English Language 

(ii) Descriptive Test: The Descriptive Test of 30 minutes’ duration with 50 marks will be a test of English Language (Letter Writing & Essay)

Descriptive Test paper of only those candidates will be evaluated who have scored qualifying marks in the Objective Tests and are placed adequately high as per total marks in objective test. 

There will be penalty for wrong answers marked in the Objective Tests. For each question for which a wrong answer has been given by the candidate one fourth of the marks assigned to that question will be deducted as penalty to arrive at corrected score. If a question is left blank, i.e. no answer is marked by the candidate, there will be no penalty for that question.


Phase – III: Group Exercises (20 marks) & Interview (30 marks)

The qualifying marks in Group Exercises &Interview will be as decided by the Bank.

 

IBPS Common Written Exam for Probationary Officer

The structure of the Examinations which is conducted online follows as:

 

(I) Phase-I Preliminary Examination

1) English Language

2) Numerical Ability

3) Reasoning Ability

Total there will be 100 Questions, Exam Duration: 1 hour. Candidates have to qualify in each of the three tests by securing cut-off marks to be decided by IBPS. Adequate number of candidates in each category as decided by IBPS depending upon requirements will be shortlisted for Online Main Exam.

 

(II) Phase-II main Examination

1) Reasoning

2) English Language

3) Quantitative Aptitude

4) General Awareness

5) Computer Knowledge

 

Generally, question paper is of 200 Marks for 200 Questions.

There will be penalty for wrong answers marked in the objective tests. For each question for which a wrong answer has been given by the candidate one fourth or 0.25 of the marks assigned to that question will be deducted as penalty to arrive at corrected score

 

(III) Interview

Candidates who have been shortlisted in the main examination for Common Written Examination are subsequently called for an Interview.

 

Private Banks

Some private banks take management/banking students directly from campus while some conduct their own examinations. For example- ICICI bank. The other examinations conducted for banking sector are:

  • Reserve bank of India clerical examination
  • IBPS Common Written Exam for Clerical Recruitment for PSUs
  • State Bank of India Clerical Recruitments
  • Common Written Exam for Specialist Officer
  • Common Written Exam for Regional Rural Banks

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