Private Bank Career

Initially all the banks in India were private banks, which were founded in the pre-independence era to cater to the banking needs of the people. In July1969, the Government of India nationalized the 14 largest commercial banks of India. In 1994, the Reserve Bank of India licensed a limited number of leading private banks like ICICI Bank, ING Vysya Bank, Jammu & Kashmir Bank, Karnataka Bank, Kotak Mahindra Bank, SBI Commercial and International Bank,

Some examples of Non-Banking Financial Institutions (NBFIs) are Life Insurance Corporation of India, Unit Trust of India, Industrial Development Bank of India and a score of Non-Scheduled Banks. They ‘Purvey’ Credit from the savings and deposits of their customers. They run the ‘Private Banking’ System and deal in Housing Loans, Mutual Funds, Chit Funds, Hundis etc.

Eligibility, Entrance Exams and Courses:

No matter which type of Banking one is seeking to join as a career, a MBA degree in Finance Management with Risk Management as elective is essential. The basic qualification for MBA Course is graduation in any discipline such as B.Com, BA, B.Sc., BE/B.Tech. Business schools have a three stage selection process comprising of the written examination followed by a round of group discussions and then a personal interview.  Common Admission Test conducted by Indian Institutes of Management; Management Aptitude Test by All India Management Aptitude Testing Service  New Delhi; Xavier Admission Test by Xavier Labour Research Institute, Jamshedpur, Joint Management Entrance Test by Indian Institute of Technology (IIT); ATMA by the Association of Indian Management Schools are the major national level entrance examinations for admission to management courses. For details, see the websites of the above institutes.

The Integrated Common Entrance Test (ICET) is conducted in Andhra Pradesh. Ranking candidates of ICET can apply for MBA courses in various universities and institutes of Andhra Pradesh. For details, see website <>

Top Colleges Offering Courses in Business Administration:

  • Indian Institute of Management, Bangalore– Provides Post- graduate programs in Management, Software Enterprise Management or Public Administration.
  • Indian Institute of Management, Lucknow – Offers Post Graduate Program for Management students and working professionals.
  • Xavier Labour Relations Institute, Jamshedpur-Provides scope to pursue PG diploma in Business administration or Personnel Management and Industrial Relations.
  • SP Jain Institute of Management & Research, MumbaiOffers several programs in PGD courses.
  • Andhra University, Visakhapatnam (AP)-Provides wide-ranging advanced courses in all fields of Business Administration.

Career Opportunities and Job Prospects:

All major private banking and financial institutions such as LIC, UTI, HDFC and Stock Brokers offer lucrative careers to MBAs in Financial Investment with Risk Management as Major elective plus certification in computer analysis. Foreign banks such as ICICI, ABN AMRO, JP Morgan, Lombard, Stanley Morgan look for bright graduates from reputed B-Schools to enlist freshers as Management Trainees or Investment Analysts.


Indigenous private banks may offer a salary of Rs 10,000/- to Rs 15,000/-pm to freshers as Assistants at entry level. Later, Managers Cadres will be offered  Rs 20,000/- to  Rs 25,000/- pm

In foreign owned banks and MNCs, management trainees may be offered a salary of     Rs 12,000/- to Rs 15,000/- during probation. Later they will be offered a salary of Rs 20,000/- to Rs 25,000/- pm as Analysts and Associates. They  may reach up to Rs 50,000/- pm when they become independent department heads.

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