The chances of job in the financial sector are brighter in 2013 as compared to last year. It is due to the impending entry of new players in banking following a liberalization of licenses’.
Reserve Bank of India is gearing up to finalize the guidelines for issuing banking licenses’ to new entries, it will provide direct and indirect employment for about 50,000 people over the next couple of years.
The recruitment is expected to gain solid momentum only if new banks decide to focus on retail business and not remain confined to corporate banking. Business to Business works involves fewer people doing larger deals. With the arrival of new bank there will be expansion of branch network and there would be big recruitment drive in case the new banking entities decide to focus on retail.
Several business houses including the Aditya Birla Group, the Tatas and Anil Ambain led Reliance Group has evinced interest in entering the banking space. Many existing such as Axis Bank have planned to expand their retail networks and increase headcount. The year 2012 was not particularly eventful for the industry, especially with several multinational ones such as HSBC and Citigroup announcing their plans to restructure and downsize.
There has been uncertainty for most employees engaged in the financial services sector with the global slowdown hitting home There have been several who have lost their jobs but with hopes of new banks coming in finally, we are hoping that the job market will look up.
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