Rahul Shaw Career Advice

 SELECTION PROCESS OF BANKING SECTOR How to start a career in Banking?  There are numerous lucrative jobs in Banking which offer high salary and job security but preparing for a career in Banking generally means getting graduated with a degree in Finance/Economics/Banking/Commerce and cracking bank exams. The minimum qualification needed for a job in Banking is a  bachelor’s degree in Commerce  or Management-related specialisation. Further for banking jobs, you will have to study quantitative aptitude, general awareness, reasoning, English and basic computer skills to ace bank exams! Read this blog to know all about how to to start a career in banking, top courses, jobs, salary and more!   What is Banking? The traditional definition of banking refers to the job of managing the financial assets of the individuals who approach to a particular bank. A banker basically acts as a protector for their money. Banks lend money, generate interest that creates profits for ...

 Working At Banking Sector Working in the banking sector can be an exciting and fulfilling career path for individuals interested in finance, economics, and business. The banking sector offers a wide range of job opportunities across various functions and levels, including: Retail Banking: This involves working directly with customers to provide banking services such as savings accounts, loans, credit cards, and other financial products. Corporate Banking: This involves working with companies and organizations to provide financial services such as loans, trade finance, and cash management solutions. Investment Banking: This involves working on complex financial transactions such as mergers and acquisitions, initial public offerings, and bond issuances. Risk Management: This involves managing and mitigating the risks associated with financial transactions and investments. Technology and Operations: This involves developing and maintaining the technology systems and infrast...

 BANKING PRODUCT AND SERVICE Savings Accounts: A savings account is a basic banking product that allows customers to deposit and withdraw money while earning interest on their balance. Checking Accounts: A checking account is a type of bank account that allows customers to deposit and withdraw money for daily transactions. Customers can write checks, use a debit card, or make electronic transactions to pay bills and make purchases. Credit Cards: Credit cards are a popular banking product that allows customers to borrow money from the bank to make purchases. Customers are charged interest on the amount they borrow and must make monthly payments to pay off the balance. Loans: Banks offer various types of loans to customers, including personal loans, home loans, car loans, and business loans. Loans are typically repaid with interest over a set period of time. Investment Services: Banks offer investment services, including brokerage services, financial planning, and wealth mana...

 TYPES OF BANK Retail Banks: These are banks that offer financial services to individual customers, including savings accounts, checking accounts, loans, and credit cards. Commercial Banks: These banks primarily work with businesses and offer services such as business loans, lines of credit, and treasury management. Investment Banks: Investment banks work with corporations, governments, and other large organizations to underwrite new securities offerings, facilitate mergers and acquisitions, and provide other investment-related services. Central Banks: These are government-owned banks that are responsible for overseeing a country's monetary policy, managing the money supply, and regulating the banking industry. Credit Unions: Credit unions are not-for-profit organizations that are owned by their members and offer financial services similar to retail banks. Online Banks: Online banks operate primarily online and offer services such as savings accounts, checking accounts, l...

 WHAT IS BANK A bank is a financial institution that accepts deposits from individuals, businesses, and other entities and uses those funds to make loans, investments, and other financial transactions. Banks provide a wide range of services, including savings and checking accounts, loans, credit cards, investment services, and other financial products. They play a critical role in the economy by facilitating the movement of funds between individuals and businesses and by providing financial services that support economic growth and development. Banks are typically regulated by government agencies to ensure their safety and soundness and to protect consumers from fraud and other abuses.  ROLE OF BANK Accepting Deposits: Banks accept deposits from individuals and businesses, providing a safe place to keep their money. Deposits may be in the form of savings accounts, checking accounts, money market accounts, or certificates of deposit. Lending Money: Banks lend money to ind...

Question 1: Brief me about yourself?   Answer: It is the first fundamental question that every interviewer asks a candidate to start the conversation and know about the person. So, always be positive and  starting with your name, qualification and all the other required information that is important for an interviewer to know.  Just complete it within 2 minutes so that it should not be extended as a boring conversation.   Question 2:  Why do you want to join the banking sector?   Answer:  In this question, be logical and answer it by telling why banking sectors have influenced people with all the facts and figures, ready as to why the banking sector is the fastest-growing sector. Do not start by telling that you want to have a stable career or some personal view.  Just make it well versed which can form a correct opinion of your answer.   Question 3: What are the types of accounts in a bank?   Answer:  Be straight forward and s...

1. Why do you want to join banking sector? Banking is one of the fastest growing sectors in India with more stable and high growth and more over providing a wide range of career opportunities for graduates. So I want to take an opportunity to join in a bank. 2. What is the difference between Cheque and Demand Draft? Cheque: Cheque is a negotiable instrument instructing a bank to pay a specific amount from a specific account held in the maker/depositor name with that Bank. Demand Draft: A demand draft is an instrument used for effecting the transfer of money. It is a negotiable instrument. 3. What is a Non-Banking Financial Company (NBFC)? A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures /securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchas...

Why do you want to make a career in the banking sector? This question is common in bank interviews as the answer helps the interviewer understand your reasons behind the choice of career. Talking points can include the importance of the banking sector, its influence and growth trends. Avoid sharing personal reasons like salary, reputation, perks, etc., and answer with reasons and factual opinions. Sample Answer: The banking industry is lucrative and plays an important role in our economy. It offers challenging roles and opportunities to develop skills and knowledge. The dynamic nature of the industry and its relevance in the economic scenario is why I want to pursue a career in the banking sector. Can you elaborate on the types of bank accounts? Various bank accounts meet different objectives to fulfill the need of the account holder. The 5 most commonly used bank accounts to save or invest money are: Savings Account - It is a commonly used deposit account that allows...