Nation Banks on this Industry…

In a way, all industries are important for the country.

However, if you compare all the industries to different parts of a human body, Banking, Financial Services and Insurance (BFSI) is the nerve centre of the country, especially for a country like India which is rapidly developing.

The whole money supply, interest rates, role of monetary policy in controlling inflation, compliances making sure that the public deposits are safe, regulating bancassurance ensuring that there is no mis-selling, the challenge of crypto-currency, regulating variety of companies including public and private sector banks; cooperative banks; foreign banks; Regional Rural Banks; or NBFCs, advent of new technology and the emergence of fintech companies…all these things not only keep the Banking, Financial Services and Insurance (BFSI) sector on the radar of the nation but at the same time they make it the backbone of the country.

The sector has truly evolved in India. Gone are the days when you had to go to the bank to open FD, update your passbook, stand in the queue in front of the teller counter to withdraw money, exchange soiled notes!

Now at the click of a button you can generate bank statement, open FD, transfer funds to others, you just scan the QR code and money gets transferred to the shopkeeper.

I do not even remember when I had gone to the bank last time! And thanks to the constant diligence by RBI, all this happens in a technologically secured manner with OTPs, Two-factor authentications, T-Pins and what not.

Private Sector banks have come a long way in the process of nation building giving tough competition to the public sector banks. Consolidation of banks, emergence of fintech companies, Small Finance banks, payment banks, all this is changing the structure of banking sector in India.

Therefore, Banking sector is the ever-happening sector in the country. So, what are you waiting for? This is the sector to make your career flourish with enormous growth opportunities.

Constantly updating the knowledge, understanding the macro-economic developments, keeping an eye on the global economy are some of the secrets to make yourself successful in this Industry.

Nation is banking on the Banking sector. You too can bank your career on it!