Didn’t clear the Bank PO Exam? What next?

The result of the IBPS Bank PO exam is out now!
Are you amongst the unlucky ones, who couldn’t clear the Bank PO Mains exam, despite all the effort put in? Don’t worry! This isn’t the end of the road for your career.
There is a world of opportunities waiting for you in the Banking Sector – the Private Banking sector. In this article, we will discuss briefly about why you should look at the private sector, the various roles available and how you can get there!
Why the Private Sector? Let’s get something straight! Public sector bank jobs are no more your relaxing, settled for life peaceful jobs! Bad debts piled over years have led to a major shakeup. The government is getting Public sector banks to follow their private counter parts in terms of efficiency, HR policies, Risk Management etc. Targets and sales pressure will also become a reality here; but you may not see the same level of growth, than you can in the Private sector.

What is the Private Sector?
The Private sector consists of banks – where the majority ownership is held by the private stakeholders and not by the government. Currently we have 13 old pvt sector banks and 7 new pvt sector banks. We also have many Non-Banking Finance Companies, or NBFCs : some of which are as large as a bank!
How is a Private sector bank or NBFC, different from a Public sector bank?

Remember:
Private sector banks and NBFCs, do not hire through an aptitude test! You need to stand out during the application process; perform well in the Bank PO Interview AND you are expected to start performing from the start .
So, your approach must be different. You need to gain Ibps PO exam and you need a serious industry endorsed certification that shows your interest and helps you stand out. Let us understand the specific opportunities, and the required certification.

Opportunities in the Private Sector:
What are the divisions in banks and NBFCs that you can aim at getting into?
BRANCH BANKING:
Branch Banking refers mainly to the servicing of deposits. While a lot of transactions have moved online, India being an under banked country, the number of branches is only increasing. As per a report, ICICI bank alone plans to add 400 new branches in the coming financial year. So, the requirement for skilled manpoweris more than ever.
Apart from the existing old & new pvt sector banks, RBI has recently issued new banking licences out of which 11 new banks are already operational. Two full service banks (IDFC and Bandhan), 7 Small Finance Banks and 2 Payment Banks.
This online, industry recognized certification program, covers branch banking products and services, in detail. It also covers payments; and retail trade and forex.
Modules from this course are used by State Bank of India for online pre-joining induction of their Probationary Officers!
Getting this certification will ensure (1) You have the requisite knowledge to get the job (2) You have a powerful certification endorsed by leading banks on your CV.

Other ways to gain entry to branch banking in private sector banks is through programs like the ‘ICICI Probationary Officers Programme Post Graduate Diploma in Banking’ or ‘Axis Bank Young Bankers program’or ‘Virtual Relationship Manager program by HDFC’
However, these programs come, after the interview selection process. The road to a job is a long and a REALLY EXPENSIVE one! Ranging between 12 to 18 months these programs will cost you 3.5 to 4 Lakhs.

CONSUMER LENDING:
You are buying a brand new car and are looking for a loan. The business area that deals with loans to individuals and small businesses, is called Consumer Lending. Graduates are hired in large numbers, for a role in consumer lending. Apart from Banks, there are also NBFCs like Tata Capital, Bajaj Financial services that recruit in consumer lending.

Certification Program in SME Lending by IFBI-
This program has been offered by Religare Finvest in collaboration with IFBI. To pursue this course, you will have to appear in an interview conducted by IFBI. This Program consists of 30 days of residential training at IFBI campus. Currently the admissions are open only at Delhi.