Banking jobs have a record number of applicants

New Delhi/Patna, Sept 24 (ANI): A record of over 3.6 million candidates all across India have applied for about 11,000 clerical posts advertised by public sector State Bank of India, last month.

The whopping response has come as the applications were sought after a lull in the job market mainly due to recession.

In the past one year, working in private sector has become less lucrative owing to recession and cost cutting drives.

Private sector jobs which attracted people for handsome salary all of a sudden turned to be 'here today gone tomorrow', whereas, government employees did not face any threat of job loss or salary cut because of the economic slowdown.

This has made government jobs more appealing to those who want financial stability.he State Banks' advertisement came as a fresh breather renewing hopes of graduates who could not land a job as companies had put a freeze on recruitment.

Students coaching at Banking Service Chronicle in New Delhi have welcomed this and said job security and easy pace of life were the foremost reasons for applying for the advertised jobs.

"The mass is turning towards the banking sector. It's basically for job security. Banking sector is a comfortable type of job. It's providing secure environment, comfortable environment, comfortable timing even as compared to the private sector," said Kumari Rani, a student.

Vivek, another student, said working for a government institution like a bank gives one time to have some social life and it is not like 'all work and no play' as happens in the private sector.

"Basically, I personally believe private sector is very much unstable. In private sector, there is no security as such. But in the PSU and government sector, the government is paying well these days. There is a good social security," said Vivek.

Most of the applicants are post-graduates or MBAs who until recession preferred multinational companies or high paying jobs in the private sector.

However, post recession, their preference has taken a sharp turn to public sector banking jobs, which pay good salary and are far less demanding as compared to private banks.

"I'm teaching here and I'm getting people with MBA, MTech and Mphil degrees. The main reason is that when people working at good positions in the private sector were made redundant. They were unhappy. They were unsure of private sector. They somehow want to enter the government sector because they think they can move their way up with the kind of capabilities they have," said Keshav Kumar, a mathematics professor.

Avish Pandey, a student taking coaching at Banking Academy, Patna, said he was drawn to the banking sector as it is poised for growth.

"MBA course have less job security. Because of recession many students haven't got their placements. And those who have the offer letters are not able to join. So, at present the government sector is secure and has growth," said Avish.

According to Anuj Kumar, a teacher at the Banking Academy, Patna, coaches helps in guiding students and preparing them in the methodology of approaching various questions for the test.

"Students should get good guidance. For this, no college can teach as it's not physic, maths, history, civics. It's general awareness or a common sense. To develop and prepare students an institute works like a guideline," said Anuj.

Students have specially enrolled themselves in coaching centres for the tests to be held in second and third week of November in three phases. By Ajay Kumar (ANI)