Banking, financial services and insurance (BFSI) is the industry’s umbrella term for companies that provide a range of financial products or services. Commercial banks, insurance companies, non-banking financial companies, cooperatives, pensions funds, mutual funds and other smaller financial entities provides these kinds of services.
The Banking part of BFSI may include core banking, retail, private, corporate, investment and cards. Financial services may include stock-broking, payment gateways, mutual funds. Insurance covers both life insurance and general insurance.
Banking, Finance and Insurance is a rapidly growing and dynamic industry. An individual planning to make a career in Banking, Finance or Insurance can look forward to a very lucrative and rewarding career.
Job Roles
From managerial and consulting jobs in Government sector and MNCs, to self-employment as Chartered Accountant, Company Secretary, Finance Consultant, Entrepreneurship, the Banking, Finance and Insurance sectors have employment opportunities for all.
Skills required
In order to have a successful career in this field, below are the ideal skills required:
- Analytical Skills
- Quantitative Skills
- Eye for Detail
- Communication Skills
- Strong Mathematical Skills
- Objectivity and Farsightedness
- Self Starter
Bank Recruitment Exams
The recruitment process of public sector banks includes competitive examination followed by an interview. Several public sector banks, regional rural banks and cooperative banks recruit personnel, based on the performance of candidates in the competitive examinations conducted by the Institute of Banking Personnel Selection (IBPS) and State Bank of India (SBI).
| Popular Competitive Exams | |
|---|---|
| IBPS PO | SBI PO |
| IBPS Clerk | SBI Clerk |
The eligibility criterion for probationary clerks and probationary officers is a Bachelor’s degree. The first stage of recruitment process, the online written test, is objective type and will cover areas like reasoning, English, numerical ability, general awareness and computer knowledge. Candidates who clear this test are called for interview.
To be eligible to take the specialist officer examination, you should attain a degree in the specific specialist field. For instance, graduates in Agriculture are eligible to apply for Agriculture Field Officer and graduates in Law can apply for Law officer.
Popular Colleges
Below are a few popular colleges that offer courses that complement a career in Banking and Insurance sector:
You can always pursue courses at various levels in this sector for a rewarding career. Check out our Undergraduate and Post-Graduate Courses in Banking and Insurance Sector for details!
Apna Saathi 