In the next five years, commercial banks will have to recruit almost 7.5 lakh people. There are 6 different Bank categories based on their ownership, functions, and national/regional/rural focus. They are Central, Nationalized, Grameen, Cooperative, Private and Foreign Bank types.
IBPS CWE (Common exam for all nationalized banks except SBI) and SBI Exams are the most popular exams. Every year more than 30 lakh people appear of these exams. Bank posts are open for all and do not require any academic specialization (except for specialist officer posts). Basic educational requirement is graduate degree from a recognized college or university.
Selection procedure – Written examination followed by interview. Subjects tested are – English Communication, Logical Reasoning, Quantitative Aptitude, Computer Aptitude and General Awareness with special emphasis on Banking, Economics & Finance. Special course knowledge is tested for specialist officer post such as Law, Engineering, Marketing, Language, etc.
There are separate exams for Probationary Officer, Clerk, and Specialist Officer posts.