Banking As a Profession

For Young graduate, an attractive offer after college is banking profession. It remains in this most wanted job position for years and it is because it enjoys much respect and prestige in the society. After the extinction of BSRB the only window to enter into this well sought career is Probationary Officers (PO) Exams conducted by individual banks. Banks inducts eligible graduates by this exam for training for a probational period of two years. The selected candidates performance during the probation period will decide their position after training. Different Banks recruit probationary officers during different periods in the year. Students has to keep on watch about the notifications and should be alert on applying promptly.

Career as a Probationary Officer

Pursuing Career as a probationary officer is a unique experience in itself. But it is the most common and highly sought after question that "what a Probationary Officer really do?".After the selection and till the date of joining the same question was making my mind puzzle. Hence I would like to share some of my experience with all of you looking after banks as a career option. I would be sharing my day to day experience within the bank so stay with us ...


Sigh of relief!

Yup, I am able to post again. These days I have been posted in showcase arena of CWG i.e. New Delhi. I have got final posting here as Credit Analyst working in Commercial Net Work (CNW) of our Bank which is regarded a good posting as we are directly in touch with the corporates instead of Personal Banking Customers (PBCs).


WIRE TRANSFER: A Good Start in Typical World

Like the National Electronic Fund Transfer (NEFT) or Real-Time Gross Settlement (RTGS) which brought revolution in cost effective Domestic Money Transfer, Wire Transfer typically transfers money from one bank account to another on international  level. It is an electronic transfer of funds. U.S. domestic transfers are commonly done using Federal Reserve Wire Network, while Internationally transfers are transacted via Society for Worldwide Interbank Financial Telecommunication (SWIFT). Western Union is a common way to make transactions between individuals (not Financial Institutions). Wire Transfers are considered the best way to transfer the money internationally. In our branch we are usually having orders to send money to other country using Wire Transfers. In NRI Jalandhar branch our bank is having a very high value transactions on this account. Money remittance using Wire Transfer is not only cost effective but also a simple version of old cumbersome methods to send money abroad.


Passing last days with Pass Books

Days are on move on the enquiry seat with all day printing pass books and telling the senior Citizens of India  that still they have to wait for some days to get credit of pension. Opening accounts without Cheque books is trend here along with going abroad. Got some arguments with a High Court Magistrate's second man over their pass book over which I was called by Chief Manager and Deputy Manager :)

At Last: I Got New Delhi

So Yesterday was a wonderful day, I got my final posting of choice. Yes, a list of all Scale - I Officers was circulated yesterday and I got Delhi Commercial Branch as my first permanent posting. I was having two places in my mind one my Home Town and other is Delhi. Delhi Commercial Branch is exceptionally unique branch in our bank. It is having highest business in our bank of 11000 Crore after Mumbai Commercial Branch. This Branch is known for big Corporate loans and very important Branch for a fresh learner. Our CIB training will be up to 17th April after that we will be relieved for our new branch.


FCNR (B): Favorite of Punjab NRI's

In Punjab, People are exceptionally interested in going abroad. Here you will find a member of every 2nd - 3rd family residing in foreign country whether it is Canada or Australia. They are earning handsome income there and remitting money back to their family in India. Here comes role of Banks!
Banks are working like channel for these persons to send money. NRI will be having their NRE (External) and/or NRO (Ordinary) accounts in banks. Whenever NRI wants to deposit a Foreign Currency as Fixed Deposit there is a special term given to that account called "Foreign Currency Non - Resident Deposit" (FCNR - B) account. Here they can deposit their money for a longer time in Indian Bank but in Foreign Currency and they will be earning interest that will also be paid in same currency. Today I created two FCNR - B accounts one was of USD 5000 and the other was GBP (Great Britain Pound) 2000. 


Probationary Officer ----> Substitutional Officer

A Probationary Officer is supposed to carry those trainings which were assigned to him during his institutional training but at branches the story is totally different. He will become a Substitutional and sometimes Pending Officer in branches. All branches do have pending work all the time and Probationary Officer is that Ordinary person who can't deny. Along with that in all branches people will be taking leaves rotationally and one person is there who will be occupying all those seats rotationally - Probationary Officer. In last 7 days including today I have been given Fixed Deposit Seat (1 day), Transfer Seat (1 day), Government Section Scroll Seat (1 day), Government Section Transfer Seat (1 day); that time I was Substitutional Officer. Another day I was given a list to check account status (Pending Officer).


Kapurthala - Credit & International Business (CIB)

I reported Kapurthala Branch on 1st of Feb. Even without a formal introduction Deputy Manager (Hall Incharge) show me Cheque Transfer seat. It was Monday on 1st of Feb. and my exposure to that desk was of about a week. Due to heavy rush on the seat I was not able to attend a single call on my mobile as friends & relatives were eager to know about my new joining. Next day I was in Forex cell where I found myself relaxed to previous day. Staff member Yash Paul gave me directions about the seat. Yesterday we prepared a US 1000 Dollar draft for an NRI. Today I was sent to Government section for cheque transfers and preparing scrolls. It is relatively a big branch where many kind of desks are available.


Tomorrow is the Last day

For our Institutional Training! huh. It has been a best training we have ever attended. We learned from so many guest faculties and others for the next CIB branch where we will be put on Credit & International transaction working. Our PO batch here is awesome. Each & everyone has their own qualities and uniqueness here. So tomorrow we will be out for a week holiday or officially we can say Joining Time that one will require for arrangements of transfer to the next branch. We presented our project well in time. These last days we were working on Credit Monitoring Appraisal in which big loans are provided to corporates. We have worked till 3 a.m. of night/morning for CMA data these days. 


Project day 2: Balance sheet deptt.

So we started today visiting Head Office situated Balance Sheet deptt. We divided our group of 6 into 2 each going to ITS department, Office & Administration deptt. (OAD) & Balance Sheet deptt. But we found audit work was in  process in all deptts that is why we were unable to take much out of them. Evening time we celebrated Lohri festival with all the faculty members of InfoTech Academy. We played musical chairs & other games and enjoyed a lot.


Project day 1st: A boring one

Our group has been given a project "How to reduce miscellaneous expenses in bank and find out revenue leakage to increase bank's income". Today morning AGM Sir gave us directions for the project. There are 10 groups consisting 6 person each with different topics. We have been given a week time starting from today for project work which will be presented next week. So we had a group meeting in morning in which we decided to collect all the circulars for the miscellaneous expenses heads. All the day we were searching circulars (a highly boring work). Along with that I configured my official email ID with Outlook Express for the first time. Its good!


Its all about dollars & Euro

Today was great in respect of learning and knowledge sharing. Official from Treasury deptt. Mumbai came Infotech Academy to teach us about practical treasury functions. Chief Manager told us nitty-gritties of functioning in Forward contracts done at bank level on behalf of customers. Personally I have some exposure in equity market but till today I was having so many queries in forex market which were taken care in 3 hour session by the respected guest meticulously. He shared his 10+ years experience in a very light way and presented the practical aspects of forex market in a beautiful manner taking us from chatting room up to Reuters system to connect with the whole world.


3rd week on training: Project process on the way

This time, our training consists a one-week project. Project would be given to us tomorrow dividing all of us in groups of 5 person each except 3 candidates which are given task of teaching clerical batch of Gramin bank for PO exams. Today we were tought about Letter of Credit and Buyer's credit in details. There are some software used in Forex named Murcury, EXIM etc.


January 6: Credit & International Business training

Training camp of State Bank is at its high pace. Today we got classes of 9 hours or so. Faculty at State Bank of Patiala, Info Tech Academy is highly dedicated and full of knowledge.
Today, we got classes on big corporate loans from guest faculty of Delhi branch. All the sections were dedicated on project funding and all. Next week I am going to attend interview and group discussion at New Delhi for  Scale-II officer in State bank of India.

Bye Bye


Welcome 2010: CIB Training

We got a warm welcome along with 2010 by the academy. Our Credit & International (CIB) training scheduled for 4 weeks starting from year end up to 23rd Jan. Previously the training was planned for two weeks but as per instructions of GM concerning CIB as the most important part of banking for new officers to undertake, training was extended for two more weeks. This time our group consists 62 POs including 60% girls. This part of training is going to be best because of many reasons: reasonably lengthy training, last group training, a project week and 3 idiots.