Workshop on "Opportunities and Preparation for the Banking Sector"
Key Resource Person: Mr. Amit Khurana, Chairman, Professional School of Indian Banking
Jagan Institute of Management Studies organized a workshop on the topic “Opportunities and Preparation for the Banking Sector” for its PGDM Batch 2012-2014 students on 3rd December, 2013. The key speaker for the session was Mr. Amit Khurana, Chairman, Professional School of Indian Banking.
Mr Amit Khurana started the session with the history, evolution and growth of the banking sector in India. Further he highlighted the role of Information Technology in the Indian Banking System. He quoted “The IT revolution has had a great impact on the Indian banking system. The use of computers has led to the introduction of online banking in India. Pre-Liberalization Indian banks were finding it difficult to compete with the international banks in terms of customer service, without the use of information technology.”
He also stated that in order to understand the general scenario of banking industry we need to understand the challenges and opportunities lying with the banking industry in India.
Since the banking sector has seen an enormous boom in India there are tremendous career opportunities for the youth in banking sector. Banking being one of the most sought after career choices among the students as it is an entry into a well paid, secure and status career. Though it may appear that these jobs are meant for commerce/economics students but the fact is that majority of bank officers are from different streams of education. Further, it is also not a fact that top positions in Foreign/Multinational Banks are held by MBA's from Premier Management Institutes. Though the Public sector Banks are now appointing management graduates, CAs and CFAs but bright graduates from any subject can get entry in the Public sector Banks through an All India Examination conducted by them.
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 lending business, is resulting in needs for more professionals. Now banks are in the mutual funds , securitization business credit cards, consumer loans, housing loans, housing loans besides trading in gold and forex activities.
Banks are looking for good communication skills, good interpersonal skills, and the ability to deal with customers, an alert nature, and basic knowledge of the industry. However to join foreign or private sector banks at higher than entry level one needs specialization in some specific areas. MBAs recruited by private and foreign banks are given plum packages to the extent of about Rs 25000-30000 a month.
The session was highly informative and was very appreciated by the students.
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