Recently RBI has approved several types of banking license, hence opportunities increased many fold in recent times. Types of private sector commercial banks are as follows:
1. Full Fledged Commercial Bank: This type of commercial bank has right to accept deposits from public and allowed to lend money for earning profit. They can offer any kind of loan, cash credit, Demand loan, Short Type of loan,Discounting bill of exchanges, Trade Finance,Trade Finance,Overdraft Facility,
ICICI bank
AXIS Bank
HDFC Bank
IDFC Bank
City Union Bank
DCB Bank
Dhanlaxmi Bank
Indusind Bank
Karnataka Bank
Yes Bank are some of few name in full fledged commercial Banks out of total 22 Full Fledged Commercial Private sector Bank.
Bandhan Bank is the new entrant in the full fledged commercial Bank space after 11 years.
2. Small Finance Bank : Small finance bank are a type of niche banks in India. The aim behind issuing this kind of licence is to provide financial inclusion to the sections of the economy not being served by other banks. Those companies were earlier in the business of Micro Finance are allowed Small Finance Bank licence.
Equitas Small Finance Bank
Ujjivan Small Finance Bank
Utkarsh Small Finance Bank
Jana Small Finance Bank
Au Small Finance Bank
Total 10 Small Finance Bank license has been issued by RBI.
3. Payment Bank : Payment Banks are those who operates in smaller scale without having credit risk. They can not offer loans or credit card. Current account and Savings account can be offered by them . They can also issue ATM cards and net banking facilities.
Airtel Payments Bank
India Post Payments Bank
Paytm Payments Bank
Aditya Birla Idea Payments Bank
FINO Payments Bank
Total 7 Payments Bank licence issued by RBI.
JIO Payments Bank and NSDL Payments Bank are the new entrants in Payments Bank space.
4. Foreign Bank :There are around 44 foreign banks operating in India. Some of foreign banks are as follows:
CITI Bank N.A
HSBC
JP Morgan Chase
Bank of Nova Scotia
Societe Generale
BNP Paribas
Doha Bank
Barkleys Bank
Major foreign banks are operating in metro cities hence job opportunities normally for those who are residing in nearby area or who can relocate to metro cities.
There are ample job opportunities in private sector banks. Candidates who are having basic concepts of banking can easily clear job interview easily.
In my next blog I will share what type of profiles available in various bank and skill required to get those type of job.
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