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Banking Sector Overview:

The Banking sector in India has always been one of the most preferred avenues of employment. In the current decade, this has emerged as a resurgent sector in the Indian economy. As per the McKinsey report ‘India Banking 2010’, the banking sector index has grown at a compounded annual rate of over 51 per cent since the year 2001, as compared to a 27 per cent growth in the market index during the same period. It is projected that the sector has the potential to account for over 7.7 per cent of GDP with over Rs.7,500 billion in market capital and to provide over 1.5 million jobs.

Today, banks have diversified their activities and are getting into new products and services that include opportunities in Credit Cards, Consumer Finance, Wealth Management, Life and General Insurance, Investment Banking, Mutual Funds, Pension Fund Regulation, Stock Broking Services, Custodian Services, Private Equity, etc. Further, most of the leading Indian banks are going global, setting up offices in foreign countries, by themselves or through their subsidiaries.

Manpower Challenges:

The key to the success of any organization lies in how efficiently the organization manages it's human resources. The principle applies equally and perhaps more appropriately to service institutions like banks. The issue is all the more relevant to the public/Private sector banks who are striving hard to keep pace with the technological changes and meet the challenges of globalization. In order to meet the global standards and to remain competitive, banks will have to recruit specialists in various fields such as Treasury Management, Credit, Risk Management, IT related services, Marketing, sales, Customer Service, HRM, etc, in keeping with the segmentation and product innovation. As a complementary measure, fast track merit and performance based promotion from within would have to be institutionalized to inject dynamism and youthfulness in the workforce. To institutionalize talent management, the first priority for the banking industry would be to spot, recognize and nurture the talent from within. Secondly, the industry has to attract the best talent from the market to maintain the required competitive edge vis–a–vis global players. However, the issue of critical importance is how talent is integrated and sustained in the banks. Therefore, a proper system of talent management has to be put in place by all the banks.

The Banking /Financial Service Sector Contributes about 5 Percent's to Nation GDP. Financial Sector will create 3.6 million Direct Jobs By 2011.By 2020 this figure could be double to over 7.4 million over the financial sector.

Spiro's Perception:

To cater to the demand of this challenging, interesting and vast sector, SPIRO has all the necessary infrastructure and expertise. We are a renowned Manpower Consultants, Placing High–Caliber Finance & Banking Professionals, from newly–qualified through to board level, on a permanent and contract basis.

Our recruiters are well connected, dynamic and experienced in the industry. They intricately understand the Banking and Finance marketplace and have successfully fulfilled the vacancies throughout the nation and abroad. Offering global opportunities to the corporate as well as the candidates. Our Clients consist of Major Investment Banks, Corporate Commercial Banks, Investment Houses, Business Groups and Rating Agencies.