Update on 2024-04-15
Different Posts Available in the Banking Sector 2024
Different Posts Available in Banking Sector 2024: If you are a banking aspirant and want to know about the different posts available in the banking sector in 2024. Then we have extracted some very useful information for you. Read this article and get to know about various banking jobs.
Banking is said to be a promising and satisfying career field as it provides work-life balance, good pay packages, and ultimate career scope. Currently, there are many job posts available in public and private banks. If you are a banking aspirant, then you will be glad to know that there are more than 41,177 posts lying vacant in the Public sector banks as said by the Union Finance Minister of India Nirmala Sitharaman.
According to a written letter reply sent by the Finance Minister, There are 8,05,986 sanctioned posts and 41,177 vacant posts in Public sector banks. These are the no.’s stated in the parliament during a session in the last year. In the year 2024, there will be mass recruitment held for various banking posts in the public sector. Candidates can apply for the various posts such as Clerk, Officer, and sub-staff available in the public sector banks.
Check the latest updates about Different Posts available in the Banking Sector 2024, Banking Exams Calendar 2024, and Most Popular Banking Exam 2024 here.
Related:- Upcoming Banking Exam Dates - Career as a Bank Manager
Related:- List of Banking Courses 2024
List of Bank Positions in India
- Probationary Officer
- Bank Specialist Officer
- Clerks
- Manager/Assistant Manager
- RBI Grade "B" Officers
- RBI Grade "B" Officers:
- NABARD Grade “A” Officer
Banking Service: Posts, Salary, Exams
|
Entrance exam |
Posts in Banking Sectors |
Basic Salary |
|---|---|---|
| IBPS PO Exam |
IBPS PO Post |
Rs. 23,700 Basic Pay |
| SBI PO Exam |
SBI PO Post |
Rs. 27,620 Basic Pay |
| IBPS SO Exam |
IBPS SO Post |
Rs.23,000-Rs. 42,000 |
| SBI SO Exam |
SBI SO Post |
Rs.23,700 Basic Pay |
| SBI Clerk Exam |
SBI Clerk Post |
Rs.11,765 Basic Pay |
|
IBPS Clerk Exam |
IBPS Clerk Post | Rs.11,765 Basic Pay |
|
IBPS RRB |
Office Assistant | Rs. 7200- 31,500 |
|
RBI Assistant Recruitment |
RBI Assistant | Rs. 13150-34990 |
|
RBI Grade B |
RBI Grade “B” Officers | Rs.67, 933 |
|
Indian Bank PO |
Indian Bank PO | Rs.23, 700 basic pay |
Banking Sector: Positions in Banking Sector
1. Probationary Officer: A Bank PO is also known as a management trainee. One can get directly recruited as a Probationary Officer in a bank by appearing in exams such as SBI PO, and IBPS PO. A person who is working as a Clerk or in any other clerical position can also be promoted to the post of PO. This post is one of the most high-in-demand positions among the different posts available in the banking sector in 2024. There is a huge scope of career growth for a probationary officer, he/she can be promoted to the post of Assistant Manager or maybe a higher position depending on his dedication and work experience. Speaking of the roles and responsibilities of a Bank P.O -Handling loan management, Genera banking, and administration services such as managing cash, opening accounts for the customers, and marketing the banking products are some of the major responsibilities of a bank probationary officer. Once a P.O gets the experience of a few years, he/she will be handed over the tasks such as planning, budgeting, marketing, investment management, and loan processing. The average salary of a Bank P.O is Rs 5.57 to Rs 8.5 L.P.A.
2. Bank Specialist Officer: The Bank S.O is employed in various departments of a bank such as marketing, engineering, Public Relations, management, etc. The specialist officers are responsible to analyze the customers/companies and understand whether they are eligible to get a loan and hold a certain capacity to repay it with interest or not. Their decision determines whether the loan should be sanctioned to the customer or not. As the name implies, an S.O is specialized to work in specific departments and they do not handle the main work of the bank which is serving the customer. A Bank specialist officer is only responsible to work in and with the various departments of the bank. The growth opportunities for a Bank S.O are limited however the salary is quite handsome. The Average salary of an S.O may vary from Rs 4 L.P.A to Rs 4.6 L.P.A.
Banking Sector: Grades in Banking Sector/ Bank Designation
There are various grades and positions that lie under the Category of Specialist Officer:
|
Grade/Position |
Experience Required |
|
JMG Scale I or Junior Management Grade B Scale I |
No experience required |
|
MMG Scale-II or Medium Management Scale-II Grade A |
At least 2 years |
|
Middle Management Scale-III Grade A |
5 years or more |
|
Middle Management Scale-III Grade A |
10-15 years |
The S.O officers are categorized according to the departments they are recruited for, below is the given description of the same:
-
IT Officer: Many functions and operations of the bank depend on IT, therefore IT officers are required in all the banks and their branches. They are responsible for the smooth functioning of the system software, and maintenance of the database, server, and other networking elements of the banks.
-
Agricultural Officers: These types of Specialist officers are responsible for promoting the various agricultural loan schemes in the rural areas of India. It is their duty to spread awareness about government policies and schemes. They also need to maintain public relations with farmers to bring in new customers and generate leads.
-
Law Officers: The bank's judicial and legal matters are handled by Law officers, these officers are LLB, LLM, MBA/CAIIB qualified. This job role holds great significance in the banking sector.
3. Clerks: The bank Clerks are the ones who are responsible for performing various banking operations. This is the initial and lowest post among the different posts available in the banking sector in 2024. There are various types of Clerks in a bank for eg- an interest clerk is responsible for keeping the track of interests in the savings accounts of customers and interests on various investments and loans taken by the customers. The account clerks open and close the bank accounts for the customers whereas the exchange clerks are the ones who are responsible for exchanging and translating the money from one currency to another. Please note that clerks are an integral part of a bank's administration and they also have to fulfill some operations such as data entry and management, typing customer letters, etc. The average salary of a Bank Clerk is Rs 3.5 Lacs
4. Manager/Assistant Manager: Bank Manager/Assistant Manager is a position that is acquired by experienced banking professionals who are working in the bank for at least 5-5 years. An MBA degree holder is most likely to get promoted to an Assistant Manager. A P.O can also rise up to the position of Assistant Manager or Manager after the promotion however this promotion is given after 7-10 years of service as a Probationary Officer. There is no specific exam conducted to recruit the candidates for Assistant Manager or Manager position.
5. RBI Grade "B" Officers: RBI is the central bank of India and it regulates the monetary policies of India. Candidates who are very ambitious about their banking careers can apply for the recruitment process of "Grade B" RBI Officers. Undoubtedly, the RBI's recruitment process is rigorous but it is worth it. If you get recruited as a Grade "B" officer in RBI, you will become part of India's regulating body of the banking sector. You will have to look after various functions of the bank and if in case you got chosen for the statistics & economics department of RBI, you will also become responsible to play a role in the decision makings for the functioning, regulating, and development of the country.
6. NABARD Grade “A” Officer: National Bank for Agriculture and Rural Development is a development organization created for the welfare of rural India and its agriculture sector. Any candidate applying for the NABARD Grade A Officer post must have an in-depth knowledge of the rural economy of India. This is one of the most respected job posts in the banking sector. One can achieve greater heights in their banking career by getting selected for NABARD.
Different Posts in Banking Sector
There are different Position Available in the Banking Sector 2024, however, these are some of the most popular banking posts and exams that can help you to get a handsome salary package and great benefits:
|
Banking Jobs Available in 2024 |
||
|
Exams/Posts |
No. of Vacancies |
Exam Date |
|
SBI Clerk |
5000+ |
Prelims - 10th to 13th July 2024 |
|
SBI Probationary Officer |
2056+ |
Prelims - 21st & 27th November 2024 |
|
SBI Specialist Officer |
283+ |
Yet to be Announced |
|
IBPS PO |
4100+ |
Prelims - 15th, 16th, 22nd October 2024 |
|
IBPS Clerk |
7800+ |
Prelims - 15th, 16th, 22nd & 23rd October 2024 |
|
IBPS SO |
1800+ |
Prelims - 24th, 31st December 2024 |
|
IBPS RRB |
12,500+ |
07th, 13th, 14th, 20th, 21st August 2024 (Prelims) |
|
RBI Assistant |
- |
Not announced yet |
|
RBI SO |
29 |
10th April 2024 |
|
RBI Office Attendant |
841 |
9th April and 10th April 2024 |
As you can see in the table mentioned above, The exams conducted by IBPS, SBI, and RBI conduct the most popular bank exams. So here is a brief description of the exam conducting authorities:
-
State Bank of India abbreviated as SBI is India's largest bank which is owned by the Government of India. SBI conducts recruitments for the posts of SBI PO, SO, Clerk, and other posts. To recruit the candidates for these posts, various exams are conducted by the bank. The shortlisting process is completely based on these exams. For the Post of PO and Clerk, SCI conducts the exams in two phases- Prelims and Mains whereas to fill the vacancies of S.O (Specialist Officer), there's only one main exam.
-
Institute of Banking Personnel Selection (IBPS) is one of the top and most popular banking recruitment authorities that recruit banking professionals for various private and public banks. It conducts various banking exams such as IBPS Bank PO, IBPS RRB, IBPS Clerk, IBPS SO, etc. After qualifying for a banking exam conducted by IBPS, an individual can get posted in a private or public bank.
|
Participating Banks in IBPS Exams |
Head-Office |
Total Vacancies |
|
Canara Bank |
Bangalore |
2100 |
|
Bank of India |
Mumbai |
1466 |
|
Punjab National Bank |
Delhi |
400 |
|
UCO Bank |
Kolkata |
350 |
|
Bank of Maharashtra |
Mumbai |
250 |
|
Central Bank of India |
Mumbai |
115 |
|
Indian Bank |
Chennai |
0 |
|
Indian Overseas Bank |
Chennai |
0 |
|
Punjab & Sind Bank |
Delhi |
233 |
|
Bank of Baroda |
Vadodara |
0 |
|
Union Bank of India |
Mumbai |
0 |
-
Reserve Bank of India, also known as RBI is one of the major central banking institutions of India. The bank manager the monetary policy of the Indian Currency. Every year the bank conducts a recruitment process to fill the vacancies available in various posts such as Office Attendants, S.O and Assistants, etc. Candidates who have high aspirations for their banking careers should apply for RBI Recruitment 2024.
Insurance Job Posts & Exams in India
If you are interested in Banking then you might be interested in the insurance exams as well. So below we have listed the names of the Top Insurance Exams in India which are going to help you to get a job in this sector:
| Insurance Job Posts & Exams in India | ||
| Exam Name | Exam Dates | Vacancy |
|
NIACL AO 2024 |
16th October 2024 |
300 |
|
LIC AAO 2024 |
28th August 2024 |
- |
|
LIC Assistant |
To be announced |
- |
|
GIC Assistant Manager |
29th August 2024 |
44 |
|
LIC HFL |
To be announced |
- |
|
LIC ADO |
To be announced |
- |
Banking Exam Calendar
If you are a banking aspirant and want to join a public or private sector bank as a PO, Clerk or SO, or any other post then it's better to stay ahead of your timeline and stay aware of the upcoming banking exams in 2024. This will help you to make an exam preparation schedule. Therefore we have mentioned a Banking Exams Calendar 2024 for you here:
| Upcoming Banking Exams in 2024 | ||
| Exam | Application Dates | Important Dates |
| IBPS PO 2024 | Online Application Date: August/September 2024 | Preliminary Exam Date: 15th, 16th, 22nd October 2024 Mains Exam Date: 26th November 2024 |
| IBPS Clerk 2024 | Online Application Date: July 2024 | Preliminary Exam Date: 28th August, 03rd & 04th September 2024 Mains Exam Date: 08th October 2024 |
|
SBI PO 2024 |
Online Application Date: Not notified yet |
Preliminary Exam Date: Not notified yet |
|
IBPS SO 2024 |
Online Application Date: November 2024 |
Preliminary Exam Date: 24th, 31st December 2024 |
|
RBI Assistant 2024 |
Online Application Date: February 2024 |
Preliminary Exam Date: Not notified yet |
|
RBI Grade B 2024 |
HighestOnline Application Date: February 2024 |
Preliminary Exam Date: Not notified |
|
IDBI Bank Recruitment |
Online Application Date: Not notified yet |
Online Exam Date: – Not notified yet |
|
IBPS RRB 2024 |
Online Application Date: June/July 2024 |
Preliminary Examination Date: 07th, 13th, 14th, 20th, 21st August 2024 |
|
SBI Clerk 2024 |
Online Application Date: April 2024 |
Preliminary Examination Date: Not notified yet |
|
JACOB 2024 |
Online Application Date: 09th to 29th November 2024 |
Examination Date: 13th, 26th, and 27 February 2024 |
|
CAIIB 2024 |
Online Application Date: 01st to 21st December 2024 |
Examination Date: 30th January to 12th February 2024 |
|
Saraswat Bank Recruitment |
Online Application Date: 22nd to 31st December 2024 |
Examination Date: 30th January to 12th February 2024 |
Bank Salary 2024- Post wise
The highest post in Bank with salary in India. A banking job brings certain stability, social status, respect, financial perks, and good salary packages. However, public bank jobs are more secure than private ones and also offer higher salaries. Below we have mentioned the banking salary 2024 along with the payscales.
| Banking Salary 2024 | ||
| Post | Salary | Payscale |
|
SBI PO |
Rs 41,960/- (Increment in 4 stages) |
Payscale: Rs. 36000-1490/7-46430-1740/2-49910-1990/7-63840 |
|
IBPS PO |
Rs 23700/- (Increment in 4 stages) |
Payscale: Rs. 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540 |
|
IBPS SO |
Officer Scale I- Rs. 36400/- |
Officer Scale I Payscale- Rs 23700-980/7-30560-1145/2-32850-1310/7-42020 |
|
IBPS Clerk |
Rs 19,900/- |
Payscale: 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540. |
|
SBI Clerk |
Rs 19,900/- |
Payscale: 17900-1000/3-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920 |
|
IBPS RRB |
IBPS RRB Office Assistant- Rs. 15000/- to Rs.19000/- |
IBPS RRB Officer Pay Scale: I-23700-980/7-30560-1145/2-32850-1310/7-42020 |
|
RBI Grade “B” |
Basic Pay- Rs 35150 |
Payscale: Rs 35150-1750 (9)-50900-EB-1750 (2)-54400-2000 (4)-62400 |
|
RBI Assistant |
Basic Salary- 14,650 |
Payscale: Rs 13150-750 (3)-15400- 900(4) -19000-1200(6)-26200-1300 (2)-28800- 1480(3) – 33240 – 1750 (1)- 34990 |
Types of Banks in India
There are various types of banks operating in India. A candidate can apply for a job in any of these banks as all the bank recruits candidates for the PO, SO, Clerk, and other posts. Below we are listing the types of banks currently functioning in India, So you can choose which bank you want to work in:
-
Cooperative Banks: Cooperative Banks are governed by the laws of the state government, these banks are set up to help the farmers to get short-term loans for agriculture, poultry, and other related industries. Speaking in simpler words, the cooperative banks are made for the welfare of the rural population and small-scale industries.
-
Central Banks: India has a central bank which we all know as the Reserve Bank of India. As already discussed RBI looks after the monetary policies of India and oversees other financial & banking institutions in India. Basically, The Central Bank of India (RBI) is the supervisor of the country's financial system as it assists other banks of India to follow the government’s financial policies.
-
Commercial Banks: As the name suggests, commercial banks are for the purpose of commerce, business, and profit. They provide banking services to common people, businesses, and entrepreneurs with profit as their primary goal. These types of banks can be segregated into private sector banks, public sector banks, and regional banks.
-
Small Finance Banks: As the name implies, Small finance banks are the ones that provide loans and financial assistance to the micro-businesses, farmers, and unorganized industrial sector, The RBI looks after these banking institutions, Some of the most popular examples of Small Finance Banks are Ujjivan Small Finance Bank, AU Small Finance Bank, Utkarsh Small Finance Bank, Capital Small Finance Bank, etc.
-
Regional Rural Banks: Regional Rural banks are commercial banks that are made to lend loans for agriculture and to rural people at a less rate of interest.
-
Local Area Banks: Local Area banks are governed by the 1956 companies act and these are organized by the private sector. The prime goal of these banks is to make a profit through their services, Currently, there are only 4 local area banks operating in the country, and all of them are based in South India.
-
Specialized & Investment Banks: Specialized banks are also known as Investment banks, These banks are bound to provide financial support to the customers who are interested in foreign trading, equity sales, and foreign exchanges. These types of banks also provide loan support to small-scale enterprises and businesses. eg: NABARD, EXIM Bank, SIDBI.
-
Payment Banks: Payment banks are an advanced form of banking that is used to exchange payments. RBI has conceptualized these banks for the users to experience the advanced banking methods. Payments banks allow the user to do transactions using mobile banking, internet banking, ATM card issuance, etc. Paytm Payment Banks, NSDL Payment Bank, Jio Payments Bank are some of the most popular examples.
Signing Off:
As you would have understood by now that there are enormous opportunities available in the banking sector. Every year there are various banking examinations held to recruit the candidates for different posts available in the banking sector 2024. All of these exams are held at the national level to fill the posts lying vacant in the various private and public sector banks. If you want any other information about the various banking exams in 2024 and the Banking recruitment process in 2024, Feel free to contact us anytime at [email protected]. We will try our level best to resolve your query and will provide you with all the assistance you need to kickstart your banking career.
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