Adventure is the life of Commerce,
but caution is the life of Banking.:- Walter Bagehot
Choice of a career is like the setting up of goal, a destination towards which man will proceed on. All his efforts will be employed for realizing that goal without a definite aim of life one cannot march ahead in a disciplined manner. One may have several alternative careers such as an Engineer, Doctor, Teacher, Banker etc. Among the different occupations, banking is no doubt a noble profession.
The word ‘bank’ comes from the ancient Italian word “banca” which means a bencher or a counter.
Banking sector of any country is one of the most vital sectors. Banks have its branches and networks scattered throughout the country. Banking not only provides life blood of capitalism i.e., credit, but telephones, automobiles, technology firms, oil companies, railroads and airplanes, all come from banks.
Banking is a service oriented profession. The scope of service in this field is maximums as compared to some other services.
Banking is one of the most sought after career choice among the students. It is an entry into a well paid, secure and status career. Though it may appears that their jobs are meant for Commerce/ Economics students but the fact is that majority of Bank officers are from different streams of education. The emergence of technology- driven new private banks have broadened the scope and range of banking service and entry of Financial institutions are into the short term leading business, is resulting in needs for more professionals. New Banks are in the Mutual funds, Credit Cards, Consumer loans, Housing loan, besides trading in gold and forex activities.
Generally banks look for Good Communication skills, Good Interpersonal skills, the ability is deal with customers, an alert nature and basic knowledge of the Industry.
There are following types of Commercial Banks:-
- Public Sector Banks
- Private Sector Banks
- Foreign/ Multinational Banks.