Growth Of The Banking Sector

The Post-independence era of has seen the mature banking policies implemented by the Government, in order to uplift the overall economic situation of the country. The Reserve Bank is the central banking unit which keeps a check on the growth of the in the international market. It controls the situations like inflation, recession and foreign disinvestments affecting the financial scenario of the nation. State Bank of is one name in the banking sector; we have all grown up with. With its headquarters in Mumbai, this bank is the state owned organization with its 17,000 branches across and close to 200 branches outside Territory. This makes SBI the largest bank of in the financial services sector.

Growth Of The Banking Sector

Over the years many private banks like ICICI, HDFC, Axis Bank and Yes Bank have emerged as the strong players in the financial sector of the country. Looking at the stupendous growth of the economy, lot of foreign banks like HSBC has tried to capitalize on this growth and have been successful too.

Careers In Banking A Top Choice Among Students

The growth of the financial services has made it an obvious choice for the students to take it up as a career. Almost all management courses across the world offer a specialization in Finance apart from other choices like Marketing, Sales, Information technology etc. The nature of this domain is such that all other branches are also eventually correlated with monetary angle of the business. Hence, in this volatile market where all other fields may see a slump at some point or the other, but the financial services can never be out of demand.

The study about the banking sector involves various features like the fundamental principles of banking, accounting and basics of finance, Its legal obligations and regulations, sales, customer management and how to maintain service excellence and a great focus on effective communication.

There is a myriad range of products and services that most of the banks deal with today. To name a few are the Credit & Debit Cards, Loans, Insurance, and Mutual Funds etc. The world economy has seen the worst downfall in the late 20thcentury, during which the employment had also got a major hit. But with the economy on the surge again and on the way to becoming one of the great economies of the world, banking sector has seen a rise in the employment rate. Hence, unlike the IT sector which sees a fluctuation and a major setback almost every decade, banking as a career choice promises better growth prospects not only but also internationally.