Banking System In India For Bank Interview

The first, the oldest, the largest, the biggest, get all such types of

informations about Banking in India in this section.

The first bank in India to be given an ISO Certification
-Canara Bank

The first bank in Northern India to get ISO 9002 certification for their selected branches
-Punjab and Sind Bank

The first Indian bank to have been started solely with Indian capital
-Punjab National Bank

The first among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act
-South Indian Bank

India's oldest, largest and most successful commercial bank, offering the widest possible range of domestic, international and NRI products and services, through its vast network in India and overseas
-State Bank of India

India's second largest private sector bank and is now the largest scheduled commercial bank in India
-The Federal Bank Limited

Bank which started as private shareholders banks, mostly Europeans shareholders
-Imperial Bank of India

The first Indian bank to open a branch outside India in London in 1946 and the first to open a branch in continental Europe at Paris in 1974
-Bank of India, founded in 1906 in Mumbai

The oldest Public Sector Bank in India having branches all over India and serving the customers for the last 132 years
-Allahabad Bank

The first Indian commercial bank which was wholly owned and managed by Indians
-Central Bank of India

Bank of India was founded in 1906 in Mumbai. It became the first Indian bank to open a branch

outside India in London in 1946 and the first to open a branch in continental Europe at Paris in 1974.

The following are the list of Public Sector Banks in India

Allahabad Bank
Andhra Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
Indian Bank
Indian Overseas Bank
Oriental Bank of Commerce
Punjab & Sind Bank
Punjab National Bank
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank

List of Private Banks in India

Bank of Punjab
Bank of Rajasthan
Catholic Syrian Bank
Centurion Bank
City Union Bank
Dhanalakshmi Bank
Development Credit Bank
Federal Bank
HDFC Bank
ICICI Bank
IDBI Bank
IndusInd Bank
ING Vysya Bank
Jammu & Kashmir Bank
Karnataka Bank
Karur Vysya Bank
Laxmi Vilas Bank
South Indian Bank
United Western Bank
UTI Bank

List of Foreign Banks in India

ABN-AMRO Bank
Abu Dhabi Commercial Bank
Bank of Ceylon
BNP Paribas Bank
Citi Bank
China Trust Commercial Bank
Deutsche Bank
HSBC
JPMorgan Chase Bank
Standard Chartered Bank
Scotia Bank
Taib Bank

Upcoming Foreign Banks In India

By 2009 few more names is going to be added in the list of foreign banks in India. This is as an aftermath of the sudden interest shown by Reserve Bank of India paving roadmap for foreign banks in India greater freedom in India. Among them is the world's best private bank by EuroMoney magazine, Switzerland's UBS.
The following are the list of foreign banks going to set up business in India
Royal Bank of Scotland
Switzerland's UBS
US-based GE Capital
Credit Suisse Group
Industrial and Commercial Bank of China
Merrill Lynch is having a joint venture in Indian investment banking space -- DSP Merrill Lynch. Goldman Sachs holds stakes in Kotak Mahindra arms.
GE Capital is also having a wide presence in consumer finance through GE Capital India.
India's GDP is seen growing at a robust pace of around 7% over the next few years, throwing up opportunities for the banking sector to profit from

Answering Some Commonly asked Bank Interview questions

Here we are listing some topics that are being asked in the currently on-going Interviews of IBPS qualified candidates for PO and Clerical Posts. As per response received from our readers, now a days banks are frequently asking mentioned topics.

• For Clerical Posts - Questions about Your Local Language are being asked very frequently.
• You must know basic GK about your state (Or the state from which you are appearing if its different from your state) such as Important People (Governor, CM and Others), Number of Districts.
• Questions about the bank for which you are giving The Interview - Headquarters, Type of Loans it gives, Key Poeple etc.
• Questions from your Family and Educational Background.
• Basic Financial Terms - Bill of Exchange, Cut Motion, SLR, CRR, banking Regulation Act, Money Laundering, Financial Inclusion Etc.
• Important People of India - Chief of Planning Commission and Election Commission Etc. CM and Governors of All States.
• Inflation / Current Slowdown in the economy and Your ideas on how to tackle them.
• Questions from Your Resume.
• Why you Chose banking ?
• Where you want to see yourself after 5 Years?
• RBI's Role in Economy.
• If you get a better job in Public Sector (IAS/PCS Etc.), will you leave us ?

And the List Continues..
If you have had a banking Interview Experience recently, share with us to help others and we will mention your name along with it.
Here we are providing some Standard questions that should be prepared well by the candidate as they play a crucial role in letting the interviewers know that the candidate is suitable for the job or not. Here we have compiled some of these commonly asked Questions with suggestions on how to answer them.

Question :- Tell us Something about Yourself.
How to Answer :- This is usually the first question asked in Interviews. You should not read all the data in your resume and also do not go too deep about telling about your parents, village and grand parents etc. For example, avoid answers like- "My village name is XYZ which come under XYZ District. My school name was XYZ school which was the biggest in district with 10000 students......"
Be natural and calm. Speak Slowly and Tell them about your strengths, achievements and passions etc. This question should not take more than 3 Minutes to be answered. Keep in mind that they know that you are capable as you have already cleared the written test, now you have to show them your suitability and genuine desire for this job. So mention your strengths and interests that are related to that job. Doing a brief research about that Bank/Company before the interview is advised. Remember that at the end of the day you have to make the interviewer feel that you are the right person for this job.

Question :- Why should we Hire you in our Organization?
How to Answer :- The Interviewer wants to know your suitability for the job so in this question you should tell about your Strengths and achievements so far. You should mention your strengths so that they would come to know your fitness for the job. Do not say something which is not true about you. Remember that the Interviewers are very Experienced and they will realize if you are saying truth or just trying to Outsmart them. Avoid using phrases like "This is the Best Company" or "I want to work in this field."
Instead, try to mention good things about you that are related to that job and this will surely prove your usefulness.

Question :- What are your Strengths and Weaknesses ?
How to Answer :- This is again a very commonly asked question. The Interviewer here wants to analyze how much you know of yourself.
Strengths:- You should mention your strengths that are beneficial for them. For example, It should not be like "I am a very good cricket Player", Rather you should focus on strengths that are related to that job. For example, "I have good communication skills" Or "I Like Interacting with people" Or "I am good at a analyzing Problems and working in a team to find out appropriate solutions".
Weaknesses :- You should not say that you do not have any Weakness. It shows that either you are Overconfident or have not assessed yourself and don't want to talk about it.
Similarly do not say phrases like "I am short tempered" Or "I get angry very soon and can do anything in anger". Rather you should genuinely mention the areas that are related to your professional life and you are trying to get better at them.

Question :- Where do you see yourself after five years from now?
How to Answer :- Here The interviewer wants to know your knowledge about career path in the job and what is your level of commitment to the job they are offering.
It should be answered realistically. Example of a horrible answer is "I will be in your seat after five years". Rather you should answer in such a way that ensures them that you are interested in making a long-term commitment towards the job and will have a long term and mutually beneficial association with them. For example "I am definitely interested in making a long-term commitment to my next position. This is exactly what I’m looking for and what I am very well qualified to do. I will do my job to the best of my ability and i am prepared to learn new things and contribute to the overall success of the organization in a number of ways. I am confident that here i will have opportunities to advance my skills and provide best of my services to the organization. "


Question :- Why did you choose to work in a bank?
Or
Why you want job in a government bank when you can get better salary in private jobs?
Or
Why you want a Clerk Job in Bank after doing B.tech.(Engineering)?
How to Answer :- These are very common questions and are asked to almost 90% of the candidates. Here The interviewer wants to know your level of willingness of working a in a bank.
Never straight away say that "I did not get a job in Private sector" or "There is lot of stress in Private jobs and government jobs are less intense and more flexible."
Rather you should answer realistically to show your genuine desire of working in a bank. If B.tech graduates are asked about opting for a bank job after engineering, they can say " Uncertainity of future and growth in IT Companies due to recent turbulence and high recent growth in banking sector." You should manipulate your answer to prove that your engineering degree would be beneficial for you in interacting with people and creating more business relationships for them.
 

Question :- Answering the Puzzles type Questions!
How to Answer :- Although these are not so common, but may be asked to anyone in an Interview. Here the interviewer doesn't really want to hear exact answer from you rather they want to see if you are able to analyze the correct problem or are you just trying to hurry up without taking the time to analyze and putting some effort. They just want to see your practical approach that will be useful during you job period.
So If asked any puzzle type question, you should not Hurry up in telling the answer even if you know it. Even if you do not know the answer (and even can not find the answer), do not hurry up in saying NO. Rather you should draw the picture of problem on a paper(even if you know the answer) and take some time to analyze it (ask them if you do not understand it correctly). It will make them feel that you believe in analyzing the client requirement before reaching to any conclusion, which is a must.
So you should answer these questions by taking time, drawing it and asking them for clarifications. This will surely fill the interviewer's purpose.


Question :- Answering the Technical questions and questions related to some current scenario?
How to Answer :- Although asked rarely, but one should also prepare some topics related to banking terminologies such as Repo Rate, Reverse Repo Rate, Cash Reserve Ratio, SLR (Statutorily Liquidity Ratio), Bank Rate, OverDraft, Prime Lending Rate, 3G Spectrum, RBI, ATM(Automated teller machine), Capital Adequacy Ratio - CAR, Questions on IPL Winners, and Many More..(Click here to download Word Document containing common banking terms). Also, chairman of some main banks in India such as RBI, SEBI etc. should also be known.

Remember that although you know these terms and current affairs related to banking and common issues, yet these questions do not play a big role in determining your selection or rejection. Even if you do not know an answer, genuinely say "NO Idea Sir!" rather than wasting time and trying to fool them with random answers, It's just not worth it!


Although you should not memorize any of above sample texts and should say it in your words to convey the idea which is to prove your usefulness!!.This will surely make them believe that you are a fit for this job!!

Although we've presented comprehensive list of commonly asked questions but still the list is endless and you may be asked anything other than these. To succeed, you should keep in mind that you have to sell you professional side, show them that you are useful and you will surely be Hired!!

Importance Of IBPS Exam For Bank Jobs.

Banking sector is a fast growing public sector now a day. it gives job opportunities to many applicants every year for various posts in India. Now a day it becomes one of the first choices of the graduate’s students in India. A lot of individuals are Appling for it. The recruitment process is very tough and the selection rate is very low in India no of vacancies are less in comparison to no of applicants so it makes it a stiff competition for the candidates appearing for the exams. It is very difficult task to select the most capable persons among thousands of candidates. It is also a tough job to conduct exams every year for thousands of candidates. However, IBPS is a solution to this problem faced by most public sector banks. It is an autonomous body that recruits individuals for various posts in public sector banks of India. This year, for the first time it is conducting CWE (common written exams) to recruit candidates for the post of Bank PO. The IBPS exam is very relevant process to recruit most capable person or candidate for the banking jobs. There are 19 public sector banks are associated with IBPS exam. After clearing the exam, they will get a score card. After it whenever vacancies open in any 19 banks involved in it, the successful candidates can directly go for interview state with this score card..

IBPS helps in bank recruitment for various public sector banks. Common written exams (CWE) is another effort by IBPS to recruit candidates easily for the 19 public sector banks connected with it

How to write cover letter?

How to Write COVER LETTER?

 

When you are writing a cover letter then everything in it must be perfect. Perfection shows your quality, same is done by your cover letter. It is the first impression you have on the recruiter’s mind once he sees your cover letter.

So, cover letter must be error free, clear, and clear and most importantly must be grammatically correct.

All the tips that I’m going to tell you will make you stand out of the crowd and thus increases the possibility of getting hired.

    Cover letter must be job oriented:  This means you must be specific about the job you are applying for, and the write the Letter in respect to the job opening.

    Target Cover letter: List all the requirement that the job posting is asking for in your cover letter. And then customize it as per recruiter requirement. You just need to target it for the job posting.

    Don’t Copy: You don’t try to copy the cover letter same as per Resume. Expand resume and make the achievements and you best capabilities be in bold letters. This give you an extra attention from the reciter.

    Simple and Clear: They all want to be very precise over the job post. So you need to be simple and clear to describe them about yourself. Small paragraphs simple to 3-4 sentence only and not more than one page make it look simpler.  

    Personalize it: All you need to do is address your hiring manager personally in it. Search through internet about him, if you don’t find a word then write Dear Hiring manager. This will surely have a positive impact on him.

    Email your Resume: Don’t send any attachments until the manager personally request for it.

    Check before you send: Ask someone to read your letter and check whether it is impressive or not before sending it. You can also review your letter by asking anyone to mark you out of 10 for the letter.

    Keep copies: Always keep the copy and track of you cover letter so you remember which letter you send to whom. If not done this can confuse you at time of reciter calling you for the interview.

    End it with simple thank you.

RESUME WRITING

How to make your resume Powerful?

 

Always be self-oriented while writing a resume. There are various thing to be kept in mind while writing resume.

·         Resume must give you best result with you qualifications: It must be written in such a way that recruiter shall have positive impression of you at first sight. A good resume must present you as exactly what you what.

·         Concentrate firstly on front page: We know much large number of resumes get updated to an employer mail. And the scanning of resume might not be as you think might be. So the first page will either make it, or break it for you in this case. Don’t claim on things that are not true. Only concentrate on simple and Updated resume.

·         Focus on employer needs first: This is really important, employer first then comes you in this case. And then write resume that directly appeal to them that you are best for the opening.

·         Two main sections: 1. Abilities, Quality and Achievements (this makes you special).

                                     2. Evidence you above qualities such as statements in support on your academics.

·         The Objective: resume is only written for one purpose i.e. why you are perfectly fit for the job you are applying. If that objective is achieved then better chance of short listing will come.

·         SKILLS: This section must be much more visible to the reader as this describe exactly how sound you knows the skills and to depth your chances. Use titles for this:

1.      CAREER HIGHLIGHTS

2.      SKILLS AND AHEIVEMENTS

3.      SKILLS AND ACCOMPLISHMENTS.                                                                                Try to put most important functionality at highest priority level in this section as per requirement.

·         Evidence section How to Show you experience? : This must contend all mandatory information’s like descriptions of dates, qualification, list of sound software mastered, etc. award, civil leadership , Personal interest, etc. will create a beauty in your resume.

·         Better presentations really matters:  There must be uniformity in text format, no error of any kind neither grammatical nor spelling, punctuation of any sort error must be omitted.

·         Use power word: Show you are result oriented, write only up to point, don’t use long sentences this will make it look great.

Ability, Capability, capacity, substantial, successful stable are some examples of the power word that will make you resume look good.

 

 

 

 

 

job in bank of india

@BANKS OF INDIA

@banks of India

PROBATIONARY OFFICER COMMON
POSITION

EXAMS (CWE)

19 public sector

banks will use

CWE scorecard

to recruit for

PO post.

Total of 18000+

Jobs have

been notified

till July. More

to posted

soon.

Government sector jobs are

always a high grade jobs favor

the years. Recent IT slowdown

has made this sector quite

prominent in job opportunities.

These are one of the high paying

jobs and most secure with the

public sector standards.

Public sector have strong

competition from private sector

and thus makes the scenario

more aggressive towards good

profile in recent years.

IBPS have placed a new scheme

Cut-off marks
where a person placed in one

will for
bank can’t appear be other banks

recruitment process.
decided

This has made a huge difference

to the system in matter of

flexibility.

application
These decisions where taken in

the last meeting held in between
received.

IBPS heads and HR department.

Other decisions are:

based

on number

of vacancies

and total

Cut-off marks

may be

flexible:

General: 165+

OBC: 155 to 165.

SC/ST: 137 to 150.

[Pick the date] [Edition 1, Volume 1]

@banks of India

COMMON QUESTIONS?

Interview Questions

Q.1 Describe yourself?

Ans. Tell about yourself

completely in compact manner so

the recruiter don’t get bored. Talk

about education, Experience, project

Q.2. why should we hire you?

Ans. Convince him that you are

the best fit for this job. Engineering

graduates are sure to asked for this

question so be prepared to answer

simple and perfectly.

Q.3. Where you see yourself in next

3-5 years?

Ans. Think realistic for this

question, describe about the growth

you see in this job profile.

There are many books available on internet, go through them and have command over

it basics sections like banking, finance and economics.

Factors Which Makes Government Jobs Better Than Private Sector Jobs

There are so many factors which describes advantages of government jobs with respect to private jobs.some of the followings are here...


1:Easy And Happy Life


In private sector they wants long working hours but in a government job they have a fixed time period of working.Working time period is fixed and it is not long.In Government Jobs life became easy and full of happiness. a government employee and his /her family enjoyed all the aspects or their life. it is free of mantle tension.


2:No Hard Work


in private sector jobs the working process is to much difficult in comparison with government jobs.in private jobs there a lot of work pressure on each employee..but in government sector working process is easy and understandable to everyone.

3:Pension Plan And Increment In Salary


in government sector there are policy for pension plan and increment in salary ..pension plan play an important role after the retirement of an employee from there job after the age of 60.but in private sector there is no such type of plans for their employees..


4:Medical And Other Facilities

in government job their are a good facility of medical insurance for their employees and his /her family also..but in private there is no guarantee of medical plans...

government jobs in india

In India there are so many people those are attracted to government jobs in India .There are so many reasons such as, good work environment and pension plan the most important thing is "Security of Job". It is one of the most wanted job sector in today's life. People are also wanted to join this sector due to the respect that goes with the job.

In the past few years, one of the biggest reason for enhancing the  number of students going for government jobs is the "good salary packages as per the sixth pay commission. Under this  the government employees are paid much more than those in private sector.

Here people get promoted within the appropriate time as this sector allows a time bound promotion. If they get promotion then they got increment in pay also. The government jobs unlike the private organizations do not follow the pattern of giving the performance more weight age than the time scale. With a government job, everyone wants to get top level in their organizations.

One of the main feature of a government job is it provides retirement plans to their employees.. The retired employees of government are provided pension plans so that they can achieve their needs after retirement. In case of death of the particular employee, there is one facility that pension is than given to the other family member.

In the modern life students prefers government job because of so many advantages of it.Life became easy and happy with the help of this.government of India provides all the comforts to their employees at when they are on the job as well as when they are not on the job.Government jobs are playing an important role in making bright future of their employees.

jobs and vacancies in india

HIDDEN GOVERNMENT JOBS IN INDIA

The youngsters have ample opportunities to build their career. They can either go for public
sector or private sector or even they can setup their own business. The economy of India
paves different paths for employment as it attracts the youngsters with its luxury soon
after they complete their studies. There are lots of websites and organizations that provide
information about the upcoming vacancies in the companies. These websites are guiding
hands for the youngsters looking for job.

For a rural graduate it is very difficult to cope up with the complexities of IT based
organizations. Rather they can show their caliber and prove themselves in government sector.
And the government itself is waiting to employ such employees who wish to build their
career in government sector. As the government employee retires after the age of sixty, hence
vacancies are regularly available to fill the seats of the retired staff. The youngsters all have
to do is to prepare themselves as the selection process in the government sector is merit based

Indian Railway is one amongst the largest chain of rails all around the globe. There are about
millions of people serving the Indian Railway. This department keeps on recruiting at regular
intervals so it is the best alternative for the youngsters to enter the government sector.

Youngsters are very much unaware about the medical jobs offered by the government. There
are numerous lab technicians, nurses, microbiologists etc appointed as government employee
handling the medical equipments. Youngsters with engineering as well as management
degree can also apply for government jobs in private sector as there is a wide gap amongst
the required number of technical assistant and accessible qualified workers in this field.

For the young folk pursuing their studies in the field of history, tourism pr multilingualism
has abundant possibilities to enter the department of Indian tourism, as India has numerous
tourists destination, there large number of stay-inns, lodges, offices etc where these
youngsters can show their skills.

The mining sector is lucre for young engineers and technology degree holders. The mining
industry of India is in itself a huge department where one can build a career. There are
organization for survey and mineral exploration (Geological Survey of India), organization
for regulation and conservation (Indian Bureau of Mines) and different companies of mining
and processing such as Hindustan Copper Ltd., National Aluminum Company Ltd. Thus the
mining sector of India provides ample opportunity to build a career in government sector.

There are also many other departments in Indian economy that provides government jobs. All
we need is to explore the recognized fields of Indian government to lead a stable and secure
life and enjoy the well paid jobs.

jobs and vacancies in india

Government jobs versus private jobs

Every human being wishes to lead a stable and secure life. And when it comes to stability
and security we always look towards government sector. With globalization large number of
Multi National Companies has entered into our territory. By offering high packages and extra
facilities these companies attract the youth to such an extent that they even switch to private
sector without looking at the brighter side of public sector. On comparing the private jobs to
government jobs, government jobs will always stay ahead in following terms.

An employee always wants stability and security in his/her job which only a government
job can provide. Along with this it also provides additional benefits such as Provident Fund,
Leave Travel Concession, pension plans, retirement benefits etc which we don’t find in
private jobs.

Pay structure is a very important factor for an individual job-seeker. Though an employee
working in a private company earns more than a government employee, but there is no
guarantee for how long he will be earning the same sum, whereas government sector ensures
sure pay to its workers even during recession. After the advent f 6th pay commission the pay
scale of a government employee has hiked from 6% to, 12 to 22%.

Private companies take more work from their employees more than they pay. You can be
called even on holidays for work, whereas in public sector the employees have predefined
and standard working hours with no overtime. Even if a government servant is asked for on
overtime they will be provided overtime benefits. A private employee can sometimes be seen
frustrated and because of the work load but a government employee is always relaxed as
there in never too much work to be done.

An employee will definitely look towards promotional benefits. In government companies
promotion is given on the basis of work period. Longer is your work span higher is the
opportunity for promotion. This can also be disadvantageous for someone who is above
average as he may not be able to grow faster. While in this context private job is preferable as
promotion is given on the basis of work done. Private sector job offers opportunities for high
career potential growth.

It is not that government jobs have a limited scope to build up a career. Starting from arts to
commerce, engineering, medical, civil, all fields include government jobs. It is the world of
competition so the selection process is done on the basis of merit. We can find every third
student preparing to clear the competition for government jobs as the youth now days are
very much concerned about their secure future.

The main benefit of working as a government employee is the status symbol in the society as
working with a government organization is the reputation associated with it.

Jobs and vacancies in india

To start off to know about government jobs, firstly it may be termed as the job opportunities which
when created and maintained by public sector enterprises comes under Government jobs directly or
indirectly.

India which is a fast developing economy the public sector is wider and more we can say much
densely distributed in each and every fields with deep expertise factors. Public sector is always
known for its vast funding and regulating policies. Government has undertaken most basic and
valuable natural resources and sectors which has deep impact on India development policies (like
coal, natural gas, aluminum etc.).

The importance of doing a government job lies within its extra privileges which makes which makes
an employee more concentric on this job.

1.They provide high incentives.
2.They have high funding policies.
3.Work environment is more fragile and flexible.
4.Uses the best technologies form the international markets.
5.Expertise in the field of its work etc.

High profit generating companies come under Navratilova companies. And these companies are the
backbone of Indian economy (such as NTPC, HINDALCO, and NCL etc.).

Within a nation private companies seems to be attractive but the best job opportunities is provided
by public sector enterprises. Every public sector is expanding day by day and thus creating new jobs
for Fresher and experienced candidates.

Evil things lies within, the worst back draws that these jobs have is public discrimination. What
I’m trying to say here might hurt some but the point of discrimination is not good for work skills.
Government not only create reserve seats for jobs but also have reservation in promotion.
Government might have created a strong education system in place of reserving those seats for
promotion.

This hampers all above positive points and at large super reduces seats for the normal candidates to
less than half. Even a person with sound knowledge of technical and managerial positions and good
in academics can’t get in easily until he put himself at the edge to be a part of that enterprise. Which
can be easily done by reserve candidate seats.

HUGE NUMBER OFF CANDIDATES >> LESSER SEATS >> +RESERVATION SEATS makes whole public
sector blunder.

This is only one aspect of government jobs @ INDIA which explains about the importance of the
sector and reservation which is hampering the public system.

Jobs and vacancies in india

Government jobs versus private jobs

Amidst all the inconsistencies and uncertainties that surround human soul there is a persistent
desire to lead a stable and secure life. More often than not stability is linked directly with
the profession we choose and the kind of facilities it offers. Having regard to the structure
and mechanism of the government/ public sector there remains little doubt that it bestows
immense stability and security.

With globalization large number of multinational companies have entered our economy..
The handsome packages which these multinationals offer are sufficient to allure and induce
the youths who tend to overlook the long term benefits which are the public sector confers in
terms of salaries and post retirement emoluments. Be that as it may if one takes a holistic
view it is not difficult to conclude that public sector jobs confer much more benefits as
compared to the private sector. These benefits and advantages can be culled out in the
following manner.

An employee always wants stability and security in his/her job which only a government job
can provide. Apart from the basic salary which is mandatory subject to annual revision the
public sector as a matter of state policy further makes an individual entitled for several other
statutory emoluments which continue even after retirement namely dearness allowance, travel
allowance, house rent allowance, medical allowance, employee state insurance, pension etc.
It’s indeed true that the private sector is making an effort to compensate the individual with
money which refer as “CTC” (Cost to Company) however the surety whom the public sector
ensures through these benefits is undoubtedly immense. It is pertinent to note that after the
implementation of the 6th Pay Commission the pay scale in the public sector have increased
manifold.

While appreciating the monetary package which becomes the driving force one cannot
loose sight of the consistency factor. Meaning thereby one must be sure of the time span
till when the particular monetary package will benefit the individual, which surety is quite
nominal in the private sector more so in view of the fluctuating economy. On the other
hand after stepping into the public sector one is sure to continue with the organization till
the individual attains the age of retirement, subject of course to cases of suspension and
termination, which are rare. One rarely came across cases of recession in the public sector as
compared to mass job shedding in the private sector. There is proportionate work force in the
public sector keeping in mind the work load. In the private sector the work load is immense
and the necessary working hands are scarce. Private companies take more work from their
employees more than they pay. You can be called even on holidays for work, whereas in
public sector the employees have predefined and standard working hours with no overtime.
Even if a government servant is asked for on overtime they will be provided overtime
benefits. A private employee can sometimes be seen frustrated because of the work load but a
government employee is always relaxed as there is always a balanced distribution of work.

An employee will definitely look towards promotional benefits. In the public sector
promotions are mostly based on the basis of seniority and time period for which you have

served an individual department. The longer the work span the higher is the opportunity for
promotion. This can also be disadvantageous for someone who is above average as he may
not be able to grow faster. While in this context private job is preferable as promotion is
given on the basis of individual merit and performance irrespective of the time period. Private
sector job offers opportunities for high career potential growth.

It is not that government jobs have a limited scope to build up a career. Starting from arts to
commerce, engineering, medical, civil all fields include government jobs. It is the world of
competition so the selection process is done on the basis of merit. We can find every third
student preparing for competitive examination to join the public sector. It is easy to decipher
that the youths are driven by the security aspect which the public sector confers.

Last but not the least being a part of a reputed government organization bestows immense
dignity and prestige on the personality of an individual which he/ she would miss while being
part of a multi- national company which has a superior financial package.

Thus it can be concluded that one has to do a comparative analysis keeping in mind the
individual priorities before reaching the conclusion as to which is better/ superior sector to
pursue. One will have to adopt a balance approach weighing the pros and cons associated
with the individual sectors before forming an opinion.