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If you are looking to work in a <keyword id="396311" type="UNKNOWN" weightage="80" keywordseo="public-sector-bank">Public Sector Bank</keyword>, be prepared to undergo two psychometric tests, which are a part of the selection process. 
 
The PSBs are taking these psychometric tests to ascertain that the aspirant would be able to head lenders reeling under bad loans. 
 
This is a part of the three-stage selection process that includes background check and personal interviews, executives familiar with the matter told Economic Times. 
 There are nearly 50 candidates in the fray. The <keyword id="6354335" type="CITY" weightage="80" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) has engaged global management consulting firm Hay Group to shortlist managing director and CEOs for five PSBs including Punjab National Bank and Bank of Baroda, two senior executives told ET. 
 
One of the executives, on the condition of anonymity, said the psychometric tests are to analyse the leadership qualities, situational judgment capability and overall personality traits. 
 
Meanwhile, Hay Group and RBI refused to comment on the matter. 
 
The psychometric test, which lasts around four hours, includes questions such as the biggest setback in the candidate's life and how he or she dealt with it. 
"A group of five-six experts asks these questions, some are in-depth questions, the rest seek to ascertain the preference and style of an individual - whether you are impatient, risk averse and so on," one of the candidates who attended the session told the financial daily. 
 
Another executive told ET that the idea was to have an objective third-party view before the candidates are tested on their sector -specific knowledge. 
"I think this was the first time I listed my achievements and spoke about it for almost an hour," the candidate said. 
 
Earlier this year, the government had given a nod for new norms for selection of MD &amp; CEO for five PSBs, making way for appointment of private sector candidates on flexible salary packages. 
 
Canara Bank, Bank of India and IDBI Bank are the other lenders in the list. 
 
The government had relaxed eligibility criteria with regard to age and experience of applicants. The age limit was increased from 55 to 57 years and the mandatory board-level experience for the applicants was reduced to one year, from three years. 
 
In 2014, a panel was set up to examine the selection process to the posts of CMDs and executive directors of PSBs for 2014-15. 
 
ET reported that this was after the then Syndicate Bank chairman and managing director SK Jain was arrested by the Central Bureau of Investigation (CBI) for allegedly accepting bribes of Rs 50 lakh to enhance the credit limit of some companies. 
 
The government had then cancelled the appointments of eight CMDs and 14 executive directors of state-run banks made by the previous Congress-led Indian government. 
 
(Images: Reuters)

Now, your behaviour and mental ability will get you top post in public sector bank

Public sector banks in India to have uniform timings across all states starting today

<ul><li>India’s Union Cabinet has given the nod to set up a <keyword id="8276571" type="UNKNOWN" weightage="20" keywordseo="National-Recruitment-Agency">National Recruitment Agency</keyword> (NRA), which will spearhead the initiative to set up a <keyword id="1121108" type="PERSON" weightage="20" keywordseo="common-eligibility-test">Common Eligibility Test</keyword> (<keyword id="55410" type="ORGANIZATION" weightage="20" keywordseo="CET">CET</keyword>) that will cover all <keyword id="839945" type="PERSON" weightage="20" keywordseo="Central-Government-Jobs">central government jobs</keyword> and public sector bank positions.</li><li>A common score will be given to determine a candidate’s eligibility for a particular post.</li><li>Setting up the NRA will cost the <keyword id="44734" type="ORGANIZATION" weightage="20" keywordseo="Indian-Government">Indian government</keyword> ₹ 1,517.57 crore but it hopes the new process will save it up to ₹600 crore each year. </li></ul>The Indian government has given the newly formed National Recruitment Agency (NRA) the nod to set up a Common Eligibility Test (CET). Instead of applying to each individual branch of the government or different public sector banks, there will now be one single test to standardise the process. <div type="Article" hostid="261" msid="73889491" title="Government job applicants can save on time and fee with one common entrance test" mstype="2" mssubtype="0"></div> "There are more than 20 recruitment agencies in the Central government. Right now, we are bringing 3 agencies under the National Recruitment Agency and will eventually bring all of them under it," said Department of Personnel and Training (DoPT) Secretary C. Chandramouli. <div type="twitter" handle="PIB_India" handlename="PIB India" image="http://pbs.twimg.com/profile_images/974552536408444928/TVZG_9jP_normal.jpg" favoritecount="96" retweetcount="36" status="#NationalRecruitmentAgency will ensure transparency and ease in recruitment process, both for the candidate and the… https://t.co/nEX1XYBFZg" createdat="1597834402000" id="1296037537790586882"></div> Not only will the CET make the process more convenient for job seekers but it will also help the government cut down on costs and time normally taken to recruit. The central government may also share the CET merit list with states for state government jobs on a cost-sharing basis. The NRA will be a society registered under the Societies Registration Act, 1860 and government will be doling out ₹1,517.57 crore to set it up. However, it estimates that it will be able to save around ₹600 crore per annum under the new system — breaking even in around three years. How will CET work? The CET serves as an entrance exam. It’s a first level test to shortlist candidates for a particular post. The scores of the test will remain valid for three years and can be used to apply for jobs across the government spectrum. Each person will have two additional chances to improve their scores, and only the best of all scores will be taken into final consideration. "There are 1.25 lakh vacancies every year in Group B and C for Railways, banks and SSC for which 2.5 crore to 3 crore people apply," said Chandramouli. What will CET achieve? According to the Indian government, the CET is aimed at solving problems for the candidates. From the varying schedules of different exams to their different application processes, the CET will simplify the entire ecosystem. By bringing all the exams under one umbrella, It will also address the infrastructure shortage that creates scope for malpractice, said Chandramouli. One exam will also mean just a one-time payment of exams fees instead of shelling out separate payments. Chandramouli pointed out that the CET will also enable job opportunities to reach rural areas for those candidates for whom travelling to testing centres, located mostly in urban centres, may not be possible or affordable. To remain accessible, the CET will also be available in multiple languages. For institutions, CET will standardise the process that could solve for the delay that occurs from time to time in the finalisation of results. The government asserts that the central test will shorten the overall cycle time of recruitment from the current 12 to 18 months. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/elon-musks-spacex-catches-falcon-9s-rocket-head-for-the-third-time-in-a-row-with-a-giant-net-out-in-the-middle-of-the-atlantic-ocean/articleshow/77631212.cms">Elon Musk’s SpaceX catches Falcon 9’s rocket head for the third time in a row — with a giant net out in the middle of the Atlantic ocean</a> <a href="https://www.businessinsider.in/policy/economy/news/difference-between-narendra-modi-make-in-india-and-atma-nirbhar-and-why-the-latter-may-work-better/articleshow/77629449.cms">The difference between Narendra Modi’s ‘Make In India’ and ‘Atma Nirbhar’ programmes⁠— and why the latter may work better</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-reportedly-looking-to-move-more-of-its-smartphone-making-business-to-india/articleshow/77590290.cms">Samsung reportedly looking to move more of its smartphone making business to India</a>

Cabinet approves creation of ‘National Recruitment Agency’ — Government and PSU bank job seekers will now have to clear a single central test

Just <a href="http://www.businessinsider.com/january-jobs-report-2014-2">113,000 workers were added to nonfarm payrolls</a>, well under the 180,000 consensus, according to this morning's January jobs report.
The private-sector hired a net 142,000 workers, meaning that the government shed 29,000 public sector jobs.
That's in line with the trend as of late. The private sector is hiring and the public sector is firing.
Check out the chart from FTN Financial's Chris Low.
<div class="KonaFilter image-container"><div class="image">FTN Financial</div></div>

The Public Sector Keeps Shedding Jobs

Some of the crucial sectors, including infrastructure, chemicals, engineering and mining contribute to 36% of the overall 4.1% <keyword id="142154" type="UNKNOWN" weightage="100" keywordseo="bad-loans">bad loans</keyword> in the Indian banking system, said Reserve Bank of India in its annual report for FY2013-14. 
	These sectors only have 30% of the total credit share and the <keyword id="6355548" type="ORGANIZATION" weightage="100" keywordseo="Public-Sector-Banks">public sector banks</keyword> were the chief sources of stress, the central bank said.<o:p></o:p>

	As per the <keyword id="30067" type="ORGANIZATION" weightage="100" keywordseo="RBI">RBI</keyword>, the gross bad loans in the system went up to 4.1% in FY2013-14 from 3.4% a year ago. The gross NPA ratio for the non-priority sector increased to 4% as in March this year as against 3% in the year-ago period.<o:p></o:p>

	“The non-priority sector has contributed more in the deterioration of the loan asset quality of the banking sector in recent years,” it said. The contribution of PSL loans to the total bad loans dipped to 36% in FY2013-14 from 40% in FY2012-13.<o:p></o:p>

	It also said the contribution of mandatory priority sector loans to the overall bad assets have come down during the last financial year.<o:p></o:p>

6 Crucial Sectors Contribute To 36% Of Total Bad Loans

<ul><li>Indian Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> just announced multiple mergers of public sector banks.</li><li>The mergers will shrink the total number of public sector banks in India from 27 to 12.</li><li>The merger between <keyword id="62034" type="CITY" weightage="20" keywordseo="Punjab-National-Bank">Punjab National Bank</keyword> (PNB), Oriental Bank and United Bank will make the second largest state owned bank in India.</li></ul>Indian finance minister Nirmala Sitharaman today announced the merger of ten state-owned banks into four mega banks. This is a part of the government’s agenda to shrink the number of public sector banks in India from 27 to 12. As a part of the merger, Punjab National Bank (PNB) will be merging with Oriental Bank and United Bank which will be the second largest public sector bank in India. While PNB will retain its identity as the anchor bank, it will be ‘acquiring’ the other two smaller banks. <keyword id="6357132" type="COMPANY" weightage="20" keywordseo="Canara-Bank">Canara Bank</keyword> will merge with Syndicate Bank to become the fourth largest bank. Union Bank of India will subsume with Andhra Bank and Corporation Bank to turn into the fifth largest state-owned bank. Indian Bank and Allahabad Bank will also merge to become the seventh largest public sector bank. The BSE Bankex surged by a massive 172 points today to close at 30,949 as the merger buzz pushed the stocks of PSU banks. Professionally managed banks Sitharaman also promised to ensure that these merged banks will be run professionally while shedding some of bureaucratic pains that have dogged public sector institutions. The merged entities will be able to make succession plans, and will be more accountable to the board. "The banks will also be able to recruit a chief risk officer from the market at market-linked compensation," she said. Sitharaman stated that the total non-performing assets or toxic loans are at a massive ₹ 7.9 lakh crore. However, they came down from ₹8.46 lakh crore in December last year. These bank mergers will create stronger entities allowing them to support the slowing credit growth in the country. Third set of bank reforms — with more to follow This is the third time that the Narendra Modi government is consolidating the public sector banking industry. In April 2017, he announced the merger of five associate banks and the Bharatiya Mahila Bank with the State Bank of India (SBI). In April this year, Dena Bank and Vijaya Bank were merged with Bank of Baroda. India’s former Finance Minister, the late Arun Jaitely stated, "India needs fewer, mega banks which are strong, because in every sense, from borrowing rates to optimum utilisation, the economies of scale as far as the banking sector are concerned are of great help." The total number of banks is expected to reduce even further to around only four or five as per the Indian government’s plans for the sector.

Indian government decides to merge ten public sector banks to form four large entities

New Delhi, May 11 () The review meeting of Finance Minister Nirmala Sitharaman with CEOs of public sector banks (PSBs) scheduled for Monday has been postponed. According to sources, the meeting has been deferred and the new date will be informed shortly. The meeting, to be held via video-conferencing, was to discuss various issues, including credit offtake, as part of efforts to prop up the economy hit by the COVID-19 crisis. The agenda also included taking stock of interest rate transmission to borrowers by banks and progress on moratorium on loan repayments. The RBI had on March 27 slashed the benchmark interest rate by a massive 75 basis points and also announced a three-month moratorium to be given by banks to provide relief to borrowers whose income has been hit due to the lockdown. Earlier this month, RBI Governor Shaktikanta Das held a meeting with heads of both public and private sector banks to take stock of the economic situation and review implementation of various measures announced by the central bank. DP DRRDRR

FM meeting with heads of public sector banks gets deferred

<div class="image-container float_right" style="width:400px"><div class="image"></div><a href="http://www.gettyimages.com/">Getty Images</a></div><keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> revealed its <a href="http://www.businessinsider.com/india-budget-disappoints-investors-2013-2">budget for FY13 - 14</a> and it largely disappointed foreign investors and is expected to not do much to revive flagging economic growth.
But the budget is trying to tackle gender issues.
The finance minister P Chidambaram's budget includes a plan to set up the country's first public sector <keyword id="624" type="ORGANIZATION" weightage="60" keywordseo="Women">Women</keyword>'s Bank with Rs. 10 billion in capital (approx $183 million).
"This Women’s Bank will lend funds to women, women run businesses, women SHGs [self help groups] and will employ predominantly women and be functional from October 2013 ."
India has the second largest workforce in the world that totals 478 million, but women only account for 24 percent of it, according to a report from the <a href="http://csis.org/files/publication/120222_WadhwaniChair_USIndiaInsight.pdf">Center For Strategic &amp; International Studies.</a> 
It also ranks 113th of 135 countries in the World Economic Forum's Gender Gap Index.
The report also cites Lakshmi Puri of UN Women who said in 2011 that "India's growth rate could jump by 4.2 percent if women were given more opportunities".
With India's economic <a href="http://www.businessinsider.com/why-indias-gdp-growth-is-headed-to-a-10-year-low-2012-8">growth at 10-year low</a> this might not be the worst idea, but it depends on how effectively it is managed.

India To Create First Public Sector Bank Only For Women

<ul><li>The government has reportedly asked the RBI to draw up a list of banks that can be merged as well as a possible timeframe for their consolidation. </li><li>The move is a response to the deteriorating asset quality of smaller, weaker banks and follows the successful absorption of five associate banks by the SBI last year. </li><li>Currently, government-owned banks account for 90% of bad loans despite owning less than 70% of the banking system’s assets.</li></ul>In its annual report yesterday, the Reserve <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword> (RBI) cautioned that the bad loan crisis could continue in the coming years. The central bank expects the <keyword id="919276" type="PERSON" weightage="20" keywordseo="non-performing-loan">non-performing loan</keyword> ratio, which is currently 12.1% of all loans, to rise this fiscal year. This is mostly owing to unfavourable economic conditions such as sluggish credit growth and a less-than-expected pickup in industrial activity. Amid talk of <a href="https://www.businessinsider.in/india-wants-to-establish-a-mega-asset-manager-to-tackle-its-bad-loan-problem/articleshow/64838159.cms">an asset management company </a>and the launch of Project Sashakt, the Indian government is also focused on what it thinks is a tried-and-tested solution to mitigate the crisis and improve governance: bank mergers. The Indian government has reportedly asked the RBI to draw up a list of banks that can be merged as well as a possible timeframe for the consolidation. All 21 public-sector banks will be under consideration. Currently, government-owned banks account for 90% of bad loans despite owning less than 70% of the banking system’s assets. In June 2018, reports emerged that the government was mulling a merger between <a href="https://www.livemint.com/Industry/PFZf4q3BtZ7quULf3tj88N/Govt-weighs-merger-of-Bank-of-Baroda-IDBI-Bank-Oriental-Ba.html">four heavy lossmakers</a> - Oriental Bank, Central Bank, Bank of Baroda and <keyword id="6357560" type="DOMAIN" weightage="20" keywordseo="idbi-bank">IDBI Bank</keyword>. The state-owned insurer, LIC, was eventually “instructed” to take a majority stake in the latter. The case of SBI The enthusiasm for bank mergers follows the successful absorption <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/five-associate-banks-to-merge-with-sbi-from-april-1/articleshow/57314900.cms">of five associate banks</a> by the <keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> in April 2017. The impetus behind the merger was to reduce the costs of the smaller banks and shore up their balance sheets. Just like the SBI merger, the government wants larger banks to acquire smaller banks that aren’t well-capitalised and are hurting from a pile-up in bad debts. The merged entity subsequently benefits from a larger capital base and a buffer against risk and liquidity issues. It also becomes better-equipped to take on private sector banks, which is important because public-sector banks have continually been losing market share to their private counterparts. The RBI currently has 11 public-sector banks under its prompt-corrective action framework, which imposes credit extension limits and restructuring requirements. Additionally, a lower number of government-owned banks will also reduce the resources needed for regulatory oversight.

The Indian government wants to merge more public-sector banks

<ul><li>Global investment banking firm <keyword id="63460" type="CITY" weightage="20" keywordseo="JP-Morgan">JP Morgan</keyword> will invest ₹17 crore ($2.25 million) to impart skill training to over 4,800 graduates in India. </li><li>This is in partnership with the Shahani Academic &amp; Global Empowerment (SAGE) Foundation, a non-profit trust focused on skills training. </li><li>Under the initiative, the foundation will impart domain skills and communication, sales and problem solving skills via online and classroom courses. </li><li>This includes upskilling in the advanced technology and innovative concepts to enable the underprivileged youth to get entry-level jobs. </li></ul>Global investment banking firm JP Morgan will invest as much as ₹17 crore ($2.25 million) to impart skill training to over 4,800 graduates in India. This is in partnership with the Shahani Academic &amp; Global Empowerment (SAGE) Foundation, a non-profit trust focused on skills training. This includes upskilling in the advanced technology and innovative concepts to enable the underprivileged youth to get entry-level jobs in the Banking and Financial Services (BFSI) sector. “Businesses across sectors are facing challenges in employing skilled talent. This program will help bridge the gap between employee skills and employer needs. We look forward to high-yielding results,” said Maneesha Chadha, Head of Philanthropy for J.P. Morgan, India. The grant announcement comes at a time when it is alleged that the JP Morgan India unit helped a local company divert funds, thereby violating foreign investment rules. The Supreme Court has now permitted the Enforcement Directorate (ED) to attach the company’s properties <a href="https://economictimes.indiatimes.com/news/politics-and-nation/ed-gets-sc-nod-to-attach-jp-morgan-india-properties/articleshow/75909681.cms" data-type="tilCustomLink">worth ₹187 crore</a> in this case. This is the second grant that SAGE Foundation has received from J.P. Morgan. Under the initiative, the foundation will stress on domain skills and communication, sales and problem solving skills via online and classroom courses. The BFSI sector is aggressively investing in technology and the digitalization of its products and services. Hence, the skill training in the domain will help graduates find jobs in the banking sector. “With the demand for work-ready professionals with deep industry knowledge on the rise, it is imperative that educational institutions alter their approach and provide students with real and tangible skills that are relevant to the workforce of today,” said Akhil Shahani, MD, Shahani Group. See also: <a href="https://www.businessinsider.in/stock-market/markets/news/sebi-has-ordered-a-special-audit-of-the-six-debt-funds-shut-down-by-franklin-templeton-in-may/articleshow/76148899.cms">SEBI orders special audit of Franklin’s six debt funds – with ₹30,800 crore wealth locked in, wary investors demand reopening</a> <a href="https://www.businessinsider.in/careers/news/barclays-morgan-stanley-jll-and-others-hiring-senior-executives-during-the-coronavirus-lockdown/articleshow/76147578.cms">Barclays, Morgan Stanley, JLL and others hiring senior executives during the coronavirus lockdown</a>

JP Morgan sets aside ₹17 crore to upskill 4,800 Indian graduates for banking jobs

In a bid to transform state-run banks, the Indian Government is determined to hire outside talent and bureaucrats in <keyword id="6355548" type="ORGANIZATION" weightage="80" keywordseo="Public-Sector-Banks">public sector banks</keyword>. The Government is going to appoint Ravi Venkatesan, an independent director on the <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> board, and former revenue secretary Sumit Bose as chairmen of two public-sector banks. 
 Also, TN Manoharan, who is on the board of <keyword id="43217" type="CITY" weightage="80" keywordseo="Tech-Mahindra">Tech Mahindra</keyword>, and former petroleum secretary GC Chaturvedi are going to head two other banks. 
 
However, names of the banks they will be soon heading could not be confirmed. 
 
"Approvals have been sought for the candidature of Ravi Venkatesan and Sumit Bose," a senior official with the department of personnel &amp; training told Economic Times. The official also confirmed the news about appointment of Manoharan and Chaturvedi to head other banks. 
 
The Government wants to hire chairmen of eight banks as it wants to reform the state-run banking system. 
 
"It should take at least a week for the announcement of chairmen of eight PSBs," another official, aware of the developments, told ET, adding, “the move shows the resolve of the government to give more autonomy to state-run banks and transform the way banking is done at these institutions.” 
 
The official said the shortlisted candidates were industry leaders, veteran bankers and reputed bureaucrats, which will further empower individual bank boards. 
 
Venkatesan was the chairman of Microsoft India between 2004 and 2011. He is also a fellow of the Center for Higher Ambition Leadership, Boston. 
 
The financial daily reported that the Government had appointed Manoharan on Satyam’s board after it took control of the scam-hit company. The company was later on acquired by Tech Mahindra and Manoharan is now a director on the board of Tech Mahindra. He served as the president of Institute of Chartered Accountants of India during 2006-07. 
 
Bose and Chaturvedi are seasoned bureaucrats, as the former was revenue and disinvestment secretary while the latter held the charge of additional secretary, financial services, before he went on to become petroleum secretary. 
 
(Image: Indiatimes)

You Searched For "public sector bank jobs" and got 11 results

Now, your behaviour and mental ability will get you top post in public sector bank

BI India Bureau

Public sector banks in India to have uniform timings across all states starting today

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Cabinet approves creation of ‘National Recruitment Agency’ — Government and PSU bank job seekers will now have to clear a single central test

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The Public Sector Keeps Shedding Jobs

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6 Crucial Sectors Contribute To 36% Of Total Bad Loans

BI India Bureau

Indian government decides to merge ten public sector banks to form four large entities

Prabhjote

Katya

FM meeting with heads of public sector banks gets deferred

PTI

India To Create First Public Sector Bank Only For Women

Mamta Badkar

The Indian government wants to merge more public-sector banks

Dilsher Dhillon

JP Morgan sets aside ₹17 crore to upskill 4,800 Indian graduates for banking jobs

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Big public banks to now have tough corporate bosses from Infosys and Tech Mahindra

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