The evidence of the Indian banking system has also become strong, when in 2008, despite the global turmoil in the financial sector, the internal strength, integrity and efficiency of the banking system helped stabilize the country’s economy. . The banking sector in our country India is growing continuously, so it is also providing opportunities to become a bank manager.
Who is the bank manager?
A bank manager is a person who is in charge of a bank or a particular branch of a bank. Typically this is involved in making decisions about whether to lend money to businesses or individuals, or not. Apart from this, a bank manager being the branch in charge is also responsible for granting leave to employees, reporting their work, promotion etc.
The position of a bank manager is fraught with responsibilities and is known as the face of the bank in its local community. He also gives advice on investment and savings to the customers apart from making loan decisions or not. A good bank manager should have the ability to do multiple things at the same time.
Bank Manager Responsibilities
A bank manager is the head of a bank branch. Hence it is responsible for the day-to-day operations of that particular branch, administration, marketing, management, coordination and support with employees, liaison with customers and public, good adherence to systems and statutory rules. The bank’s guidelines and instructions are followed at the branch under the control of the same. There are many responsibilities of a bank manager, some of which are listed as follows.
- Develop strategy and operational logistics for the success of the Bank.
- Developing and promoting attractive products, services to the customers.
- Creating and developing multiple databases related to banking operations.
- Listening to customer complaints and finding solutions.
- It is also the responsibility of the bank manager to appoint new staff for the branch of the bank and to provide them proper training.
- Build good relationships with local communities and businesses.
- Preparation of annual expenditure for the bank and budget for the smooth running of the bank.
- To be involved in the decision of whether or not to grant loans to businesses or individuals.
How to become a Bank Manager
As we have already mentioned in the above sentence the bank manager is a very responsible role. So it is natural that the skills and educational qualifications required to become a bank manager are determined in this way. That the person is capable of conducting and performing the required tasks in the best possible manner.
By the way, there is no direct recruitment of bank managers in India, because direct entry cannot be done in this post. But after being appointed to the post of Bank Officer, after a few years of experience and in-house training and evaluation of various relevant parameters by the bank, the bank can appoint a person as a bank manager.
At present, there are two major ways to become a bank manager in India.
- Entering the bank as a bank assistant or a clerical cadre employee, and then gradually reaching the rank of bank manager through internal promotion.
- Entry as Probationary Officer, Bank Officer or Management Trainee. and progress to the post of manager after some years of service.
Further in this article, we will discuss both the PO Recruitment and Internal Promotion both ways to become a Bank Manager.
Recruitment of Probationary Officer in Bank
Although the recruitment procedures of POs keep on changing. But at present, there are two main streams followed for the recruitment of Probationary Officers.
- IBPS exam is conducted by the Institute of Bank Personnel Selection. Through which banking personnel is selected.
- IBPS exams are conducted to recruit bank employees in several participating banks through IBPS exams.
- Many banks like State Bank of India and other public sector banks conduct separate exams for Probationary Officers.
- Also some banks tie up with some universities for imparting training to the selected candidates. Which are offering courses like PG, Diploma or MBA in Banking to the selected candidates. The successful candidates are appointed by the banks as their officers.
- Now it comes to private bank, that means people want to know how they can become bank manager in private bank. At present the new generation private sector banks follow the direct recruitment process. They provide the facility to the interested candidates to register their profile in the Bank’s website. And when the vacancies are out in the bank, then they call shortlisted candidates for interview. And recruit on various posts.
Minimum eligibility for bank officer exam
Bank Probationary Officer exam is conducted by IBPS. A candidate must be at least a graduate in order to appear for that exam. And banks that recruit through direct interviews may also seek MBA in Banking and Finance.
Questions on the following topics can be asked in the IBPS exam conducted for Bank PO.
- Quantitative Aptitude
- English Comprehension
- General banking awareness
- computer basics
You can also visit the official website of IBPS to know more about the general recruitment process of Probationary Officers and Management Trainees.
Advertisements for this type of exam are announced in all major newspapers, employment newspapers, bank’s websites,s and IBPS websites. Apart from these, many job portals also display the link to such exams.
how to become a bank manager after joining as an officer
In most of the banks, job training is provided to the Probationary Officer (PO) of the bank in various centers and departments. To make them fully aware of the general aspects of banking. They are then assigned the responsibility of a section or department independently as junior management scale or assistant managers.
Some banks conduct promotion exams after the training is over or after the probation period is over. According to the performance achieved in the examination, they are promoted to Junior Management Scale Ist and Scale II2nd.
Bank branches are also classified into Ist and Scale II2nd etc. Bank officers who perform well in the examination conducted by the bank and improve their performance can be posted as bank managers in the respective grade branches.
Remuneration of bank managers
Talking about the remuneration received by the bank manager, a good salary structure exists in the old private sector banks and public sector banks. Apart from salary, there are many other benefits as well. The salary and other benefits are negotiated with the Bank and the members of the officers, trade unions, Indian Banks’ Association, etc., the Government of India, the Department of Banking, the Ministry of Finance, and ensuring a fixed salary and other benefits for the banking personnel.
Although the number of additional benefits that a bank manager enjoys is not huge. They get a salary according to their grade pay, and sometimes if the branch of the bank concerned performs well, they are given some percentage of cash as an incentive.
The starting salary of a bank officer made through IBPS exam can be Rs.60000 per month. Which can further increase to 8-15 lakhs per annum depending on the experience.
Bank manager career
It is not necessary that the way forward is closed for the one who became a bank manager. Or becoming a bank manager is his last step. Rather, a person can become the Chief Executive Officer of a bank if he wants. Currently, the top banking executive started his career with scale Ist. He first joined the Junior Management Scale, then the Middle Management Scale and today he is included in the Top Management Scale.
In public sector banks, bank managers can be appointed as managers, senior managers, chief managers and assistant general managers. After that one can progress towards the designations of Regional Manager, Chief Regional Manager etc. on the basis of their efficiency, efficiency, and experience.
On the top management scale, they can get appointments as Deputy General Manager, General Manager. Bank Manager after becoming General Manager can be appointed as Chairman of Regional Rural Banks, as Executive Director, as Managing Director of Banks. This gives him the opportunity of many other appointments including the Deputy Governor of the Reserve Bank of India.
Keeping pace with the changes taking place in the social and environmental factors, banks have reviewed their promotion policies from time to time and made necessary changes in them. Now bank managers with high caliber, efficiency, hardworking and performing well can get promoted very quickly.
The bank manager job is a very good job. But like other fields, this too is not for everyone. To become a successful bank manager, it is absolutely necessary for an aspirant to have proper skills and knowledge of financial systems.
Apart from this, the aspirant needs to clear a number of examinations which are conducted by the Indian Banks’ Association, Institute of Bank Personnel Management (IBPM). Apart from this, various training programs such as specialized courses and training conducted by Chambers of Commerce, Export Councils and various in-house training are also to be completed.
A bank manager should also have an established network of other managers of the same bank or managers of banks established in that area. He may also need to participate positively in management associations and management clubs. Such activities can help the bank manager to develop the bank.