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Few decades back there were not many options in the banking industry. The better ones moved to development banking institutions like ICICI, IFCI or IDBI, which focused on funding large projects. Jobs were divided in very few levels i.e. as a clerk or a teller, and Probationary Officers positions.
But with liberalization things have changed. Banking now has many segments like treasury, wealth management, retail banking, commodity futures and options, and also cash management services. The nature of banking has also changed. ATMs, credit cards, tele, mobile and net banking services have made banking easier and cost-effective for the urban people.
If you are looking for a prosperous career, BFSI is just the option for you. Stats say in the coming years, BFSI as an industry is going to be one of the most sought after one. The demand has started and the trend is picking up each day.
- BFSI is a large sector where Jobs are in large numbers
- Faster career growth
- One can move multiple roles during his/her career due to vastness of operations of BFSI organizations
- Attractive salaries, incentives and rewards
- Entrepreneurial opportunities
- Global industry where there is constant innovation
- Experience has shown that when GDP grows at say 8%, Banking will grow at 3 times that is around 24%