BENGALURU: Jobs in private banks have proven to be trending among the youth in recent years, rather than opting jobs in Multinational Banks. Indian banks have shown steady progress in past few decades and are expected to boom in future, as reported by HindustanTimes.

Top Indian private banks like IndusInd, Kotak, Axis Bank and Yes Bank have opened their branches nationwide and hence have shown consistent escalation. According to a Morgan Stanley study, private banks have acquired 6.1 percent market share in the last four years and bank jobs have become a prime priority among Indians as they offer attractive packages to the aspirants. As a result number of candidates taking up Institute of Banking Personnel Selection (IBPS) exam has increased radically. The scenario was completely deferent couple years ago, when MNC jobs were high in demand.  

Ronesh Puri, Managing Director, Executive Access (India) said, “New Indian banks attract the best talent and people are keen to join these banks, it is just a matter of time for these banks to come to the top in global ranking. The fact that most employees with foreign banks have no contact with the headquarters is also the key reason.”

While the foreign banks have expanded their businesses with their news branch networks, they failed to progress consistently since 2008 global crisis and have also been deliberate in modernization. As Ashivin Parekh, Managing Partner, Ashvin Parekh Advisory Services says, “Foreign banks are losing their aura as best job spots and talent is switching to the private banks.” 

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