Various banks are now coming up with advertisements to recruit probationary officers for the banks through the post graduate diploma in banking and finance programme by the Manipal Global School of Banking or the NIIT School of Banking and Finance or for that matter, any other empanelled organization of the individual bank. On the other hand, number of vacancies is decreasing year by year in the recruitment process by IBPS, from 21000 2 years ago, it has now been reduced to less than 10000.
It seems that the future of banking industry is going to see candidates recruited through this PGDBF programme only. In this article, we shall try to decode that.
PGDBF Programme: What is there in it?
Post Graduate Diploma in Banking and Finance (PGDBF) Course is related to intensive training given in various areas of banking by the various organizations selected by the individual bank. Bank of Baroda has a tie-up with Manipal School of Bank where United Bank of India has gone for NIIT School of Banking etc. In the course of this programme, you are given training for one year before being absorbed on the rolls of the bank. You have to pay for the training at your own expense for which the bank will offer you loan at concessional rate. Once you join the bank, you will have to repay the same for a certain period as decided by the bank as the EMI will be deducted from your monthly salary. As for the bank, it will make you sign a guarantee bond for serving the bank for a certain period of time failing which you need to pay the bank a sum mentioned by the bank.
PGDBF Programme: Pros and Cons
This programme offered by various banks these days has faced a lot of criticism from the candidates because of various issues such as the course fee, guarantee bond to be executed etc. At the same time, banks are increasingly relying on this to recruit candidates these days. So, we shall try to look for the pros and cons of this.
The Post Graduate Diploma in Banking and Finance Course does not have any cons if you see from the point of view of the banks which offering this programme whereas for the candidates who are not going to stay in banking but want to just use it as a stepping stone are finding it not useful. Banks are doing this because they want trained and good candidates in this era of cut-throat competition in the sector. You cannot blame them for ensuring that through this course. So, you need to think about your priorities and take decisions accordingly. If you are sure that you just want something as a temporary thing and will eventually leave the job, do not go for this. But for the sake of banking industry, this is a rational move and it seems that it is here to stay in the days to come.