The rise of Indian Banks during the recession
The rise of Indian Banks during the recession
The recent news in the Indian newspaper regarding the high number of of vacancies of Probationary Officers and clerks has drown the attention of global business world. Almost all public sector banks as well private banks are in hurry to fill their vacant posts arise due to current expansion plan and retiring employees. The number of such vacancies for the recruitment of PO and Clerks are incredibly high. Millions of aspirants are applying to these jobs in the hope of great future and career in the Banking industry.
So, the major question is that how these Indian banks managed to create such a large number of vacancies while whole world is still struggling to overcome the dark days of recession. It is well known that how the great western banks collapsed during the period of recession. Millions of employees of these renowned banks were come of the road. These collapsing banks pulled the whole world to a financial crunch and the impact was like a chain reaction affecting many other industries.
But how these Indian banks survived from all these chaos. Well the answer may be hidden in the financial policy of Indian government. India's financial policy mostly protected by the strong government regulation which make the banking industry safe from future risk potential area. Reserve Bank of India the highest authority for regulation of monetary policy of India. RBI(Reserve Bank of India) closely monitor activities of banks operating in India. So Indian banks has no option but to follow the strict rule govern by the RBI.
Due to proper monetary India banks survived of all the hurdle and Indian youth are leveraging in the term of strong economy and bank's recruitment of officers and clerks . The large number of candidates are selected for the post of Probationary officers.