Is Demonetisation Creating More Jobs in Banking And Finance Field?

While the demonetisation drive and withdrawal of currency notes of Rs.500 and Rs.1000 may still be a debatable topic, the Indian banking & finance sector is surely basking in the glory of it. The banking industry in the country seems to be on the verge of a positive revolution.

Be it increased business opportunity or employment scenario; banking sector will emerge as the undisputed ruler in times to come. If we talk about the business opportunities, then a big surge in low-cost deposits resulting in lower cost of funds and better margins will help banks in the short and long term. The rise in the size of the balance sheet will help banks when the credit growth picks up. When yields begin to fall, owing to excess liquidity, banks can book treasury gains too. While all this will happen, there will be definitely increase in demand for trained employees too to handle more and more customers and operations. Thus, with increased activity in the banks, the demand for bank jobs is surely going to see a steady rise in the times to come.

More jobs in the banking and finance sector
At a time when recruiters and head-hunters are predicting that all the sectors of the economy will see more than 100,000 job cuts over the next 12 months, they cannot deny the fact that the banking sector will see a sharp rise.

Already the banks and broking firms have started putting a lot of effort in building large digital banking and financial research teams, with the corresponding hiring in related areas like investment banking jobs and accounting jobs.

What’s more? The payment banks, mobile wallets, and fin-tech sector are also witnessing an unexpected boost. In fact, these sectors are touted to register 3 to 5 fold business growth and that is also reflected in their hiring activities. In fact, jobs in finance sector have increased considerably in past two months only.

What to look ahead in future?
It is quite evident that the financial services sector and banks will expand and register strong growth in future, thereby, provide more and more employment opportunities and jobs in finance.
So, all the students who have chosen banking and finance as their career option, can rejoice as banking sector in the country is entering into a golden era, creating more job opportunities and they can surely pluck the low hanging fruits.

If your original field is other than banking and finance and are planning to shift to another industry, a Graduation or PGD in Finance & Banking may just be the right thing you need. If you are already in the field, a PGD will bolster your skill set. Either way, it’s a win-win proposition.

If you too are looking for a career in banking and finance, IBF offers two courses i.e., PG Diploma in Banking & Finance, a 1-year course for B.Com graduates and working professionals. And if you are yet to chalk out a clear path in the Finance world, there is an Advanced Diploma in Banking & Finance + B.Com (Delhi University), a 3-year program after 12th class.

In the tough world of Banking & Finance, you grow by making yourself unequal to others, especially your competitors. PGD in Banking and Finance offered by TKWs Institute of Banking & Finance can give you a competitive edge in helping you reach the corner cabin faster.

It is surely the right time to be a part of the banking industry which is basking in the glory of the Government’s demonetisation drive!

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