Banks are looking for young talents to fill up the vacancies to be created by the retirement of senior executives

By | September 16, 2011

A recent press report said that there are many opportunities for young talented folks would be created in the banks in next 3 to 5 years as many senior managers would be retired. It is estimated that nearly half of the senior managers would be retired in the next 3 to 5 years and this might continue for some more years. This would create new opportunities for new young bank job seekers at the entry level.

According to Mr. M. Narendra, Chairman and Managing Director of Indian Overseas Bank about 50 per cent of officers above AGM level in the banking sector are about to retire in the next 3 to 5 years and this makes the banks to go for strategies to deal with the situation.

He also said that in Indian Overseas Bank only about 21 per cent officers are set to retire. The bank has undertaken talent mapping measures and has also obtained approval for laterally hiring experts in departments such as cash management and so on.

Andhra Bank has formed a special club called “2020 club” exclusively for this purpose where training would be given for the selected employees in some special functions.

Recently banks have asked the RBI to take a break from its monetary tightening cycle which has made home loan and other loans very expensive.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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