Indian Banking Industry's growth has been more qualitative than quantitative which is expected to remain the same for the coming years. The projections of "India Vision 2020" prepared by the Planning Commission, also the Draft 10th Plan, and the report forecasts that the pace of expansion in the balance-sheets of banks would be decelerating.
Presently India has 88 scheduled commercial banks (SCBs) - 28 public sector banks, 29 private banks and 31 foreign banks. These banks have a combined network of over 53,000 branches and 17,000 ATMs. According to a report of the Rating Agency ICRA Limited the public sector banks hold over 75% of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively.
Banking Industry in India is one of the most sought after career choice among the students. It is a career which is well paid, secure and has good status. Though it might appear that these jobs are meant for the student of commerce/economics but the fact is that majority of bank officers are from different streams of education. Further it also a fact that top positions in Foreign/Multinational Banks are held by MBA's from Premier Management Institutes. Today Public sector Banks are now appointing management graduates, CAs and CFAs but bright graduates from any subject can get entry in the Public sector Banks through an All India Examination conducted by them. Openings in Banks are available at various levels, from Clerical to Probationary Officers (PO). The opportunities have great job security and along with good salary, besides the perquisites of loans for employees. It is a lucrative career where careers exist not only in nationalized banks, but even with liberalization, a host of private banks have been set up for the opportunities.