A banking career provides lots of benefits like provident fund, gratuity, pension, dignity and career growth. It teaches money management and also helps you gain knowledge about trade, investment plans, remittances etc. The banking sector employs people from different educational backgrounds. From finance to marketing to people from an operational background, there is a place for everybody.
If working for a bank excites you, here's all you need to know about bank entrance exams and the importance of taking mock tests.
The Institute of Banking Personnel Selection (IBPS) conducts a series of Common Written Exams (CWE) for vacancies in 20 Public Sector Banks and 82 Regional Rural Banks. These exams are mandatory for clerical posts, management trainees, office assistants and others. The SBI (State Bank of India) and SBI Associates conduct their examinations for clerical and officer rank positions. The RBI (Reserve Bank of India) too conducts its exam for different positions. The eligibility criteria and minimum qualification required depends on the post you wish to apply for.
Private sector banks conduct their own entrance exams. However, some private banks like Karur Vysya Bank (KVB), Tamilnad Mercantile Bank (TMB) and Federal Bank have started considering IBPS CWE scores.
To take the exam, you will have to register for the online banking exam by submitting the application form. Attach your photograph and scanned signature along with it. The application form is available on the IBPS website. SBI and RBI forms are available on their respective websites. It is important for you to keep track of the upcoming exams.
The banking sector exam is very competitive. You must prepare by taking free online mock tests for bank exams. They will help familiarize you with the bank exam format, types of questions and the time limit. A simple Google search will reveal websites where you can take a free online test for bank PO. You will also find Glow & Lovely Careers (formerly known as Fair & Lovely Career Foundation) Banking and Insurance Test book very useful. Just click on the Online Test section of the website.
If you are serious about a career in banking, you must take these mock tests seriously. As a banking sector candidate, you will have to answer many mathematical and quantitative questions without making elaborate calculations. So, you will need to master shortcuts and tricks to solve the given problems in time. Taking online tests will help you learn and master these shortcuts and improve your understanding of the mathematical calculations.
Additionally, you will also know your strengths and weaknesses. You may have mastered some advanced techniques, but your basics may need revision. The only way to assess your abilities is through a mock test. Your answer pattern and score will help you identify the areas you need to work on and spend more time practicing.
If you pass the necessary entrance exams, you will have to go through group discussions and personal interview rounds. These two rounds will be the deciding factor in your selection. So, prepare for these rounds as well. In these rounds, you will be questioned on banking sector policies, the economy and general knowledge. To do well in these sections, you must stay updated. Read the newspaper daily. Subscribe and follow financial blogs.
Finally, do not take unnecessary stress as it will negatively affect your performance. It is important to stay calm during the exams.
