Home Industry Verticals Banking and Financial Services




Reserve Bank
of India
Ministry of
Finance

Banking and Financial
Services

Banking Industry

India is amongst the top 10 economies in the world. By end of 2015, India is expected to be a major business hub and the Indian Banking scenario would become the back bone of finanacial development.

Indian Banking Industry has the potential to become the fifth largest banking industry in next 10 years. With India being proposed as the next important business and financial hub, it has brought a revolutionary change in the banking industry. This would see an era of major technological innovations in the banking Industry, with most banking transactions being done online. This adds more speed and accuracy with minimum scope of human error and manipulation.

This revolutionary evolution of banking has reached out to tier 2 and tier 3 cities as well. About 50% banking ATMs are operating in tier 2 and tier 3 cities.

With these growth numbers, banking industry has tremendous potential to grow and hire in India.

  • India’s banking sector is currently valued at Rs 81 trillion (US$ 1.31 trillion).
  • Indian banks total asset size is recorded at US$ 1.5 trillion in FY12.
  • Total banking sector assets have increased at a Compound Annual Growth Rate (CAGR) of 8.2% to USD1.5 trillion during FY10–12.

Financial Services

India has one of the fastest growing Financial services Industry in the world with an asset turnover growth of over 30 % annually. The Indian Financial Services industry has been dominated by banking sector, although its major revenue comes from the Insurance sector. We can definitely see it getting a modern outlook and increasing use of technology.

Product innovations and increasing portfolio of services offered to customers is / are leading to healthy growth in insurance and NBFCs.

  • India's life insurance segment collected new business premiums worth Rs 11,742.7 crore (US$ 1.84 billion) for April–May 2013.
  • Over FY03–FY12, life insurance premiums expanded at a Compound Annual Growth Rate (CAGR) of 20.1%.
  • Total asset under management (AUM) of the mutual fund industry have clocked a Compound Annual Growth Rate (CAGR) of 16.8% over the period FY07-13 to reach US$ 150 billion.
  • Non-Banking Financial Company (NBFC) managed a Credit Growth at a Compound Annual Growth Rate (CAGR) of 35 % over FY 2007-12.

Hiring Trends

The Indian BFSI sector currently employs over 50 lac professionals across levels.

The Indian Banking sector is expected to hire majorly in 2014, with expected Industry attrition rates set to go up to 14%, replacement talent would be in demand.

Banking and financial service professionals can expect a salary increment of 10-12% from the current level and quality of job profiles is also expected to go up.

MANCER's Outlook

Since its inception in year 2000, MANCER Consulting Services has been hiring experts for the BFSI industry. With the years of witnessing the Banking and Financial services boom, we have analyzed the change of hiring requirements over the year. As the BFSI industry is more reliant on technology, we see a need of Hiring Experts with technical and financial capabilities. New profiles and job requirements get added every year to this evergreen sector and our consultants have successfully managed the hiring challenge in this sector.

We understand that in the Indian BFSI industry, you look for multi skilled, experienced yet sustainable talent. As BFSI industry adds their hiring numbers in coming years, MANCER Consulting Services is there to help you in your hiring targets and challenges.

Our team of expert recruiters will help you recruit and retain skilled professionals in minimum possible time. With our recruiters, you have a wide access to talent and we help you plan your mandate even before the actual requirement arises. Our market-leading position, strong network of contacts and consultant expertise ensure that our candidates benefit when they make their next career move.

We also manage complex national and international assignments that need the deployment of resources across different geographies.

Our innovative approach creates value based offering:

  • Strong recruitment team that specializes in your requirement.
  • The multi-disciplinary team we deploy will utilize all the very latest search technologies, our own qualified database, combined with direct personal approaches to secure the best possible pool of talent.
  • Cost saving and reduced cycle time through well-defined service level metrics.
  • Connection with passive and active candidates – through social media strategies and our exclusive recruitment marketing campaigning technology.
  • Capability to provide a client-dedicated recruiting team.
  • “No candidate left behind” service commitment to 100% candidate outreach.
  • A differentiated candidate experience and streamlined recruitment process.

Working with MANCER

MANCER Consulting Services has unmatched experience in promoting talent and we follow the same principal for our organization.

Talk to us

Corporates
+91-11 6641 7200
Candidates
+91-11 6641 7200