Participation of female candidates has risen in the public bank sector exorbitantly in the last five years. The growth in the financial and banking sector has resulted in increasing vacancies in the banking sector and the female candidates have shown utmost interest in the banking positions throughout the country. The number of female candidates presently working in the banking sector in India has surpassed 2 lakh which is almost 25 percent of the total workforce in the sector. The growth in the number is the result of various factors associated with the banking sector job, safety and security of job being the most potent one.
Over the last decade the number of female applicants applying for banking competitive exams like SBI PO, RBI Grade B officer, IBPS PO and clerical vacancies has gone high exponentially. Many of the female candidates are even topping the competitive examinations, grabbing the posts of their preference in different banks. The banking sector provides the healthy working environment for the female candidates to grow and development within banks. .
Reasons of preferring banking sector jobs by female candidates
- Safe and secure environment for working: The banking sector is possibly the most secure place to work in for any woman candidates. The culture and work ethics in the public banking sector is most suitable for the woman candidates in every aspect.
- Personal life and work balance: The women prefer banking jobs due to the facilities it provides to its employees apart from the hefty pay package and job security.
- Maternal and health benefits: The married woman candidates are given the essential maternal holidays and health benefits during their pregnancy period. The women candidates are provided compulsory medical benefits with full payment up to 6 months as Maternity leave.
- Transfer and home posting facilities: As per the guidelines issued by the Ministry of Finance, the woman candidates, married or unmarried, are eligible to get postings and transfer near the hometown of their spouse or family members. The women candidates are not posted in rural branches and thus are provided with options near to their hometown at the time of their posting in the banks.
- Pay perks and lucrative salary: The lucrative banking salary in both PO and entry level clerical cadre posts make it a favorable job option among the woman. The salary along with the perks and allowances like HRA, Furniture allowance, medical cover, leave travel allowance and easy loans facility make it a preferable job sector for women candidates.
- Job stability and flexibility: The banking sector, which each of the banks having a large number of branches across the nation, provides the much needed flexibility of transfers for the female candidates. The female candidates do not have to put brakes to their career once they get married and have to move to some other place due to the lack of job options there. This notion of job stability and flexibility of being able to join at any of the nearest branches in the new hometown for women candidates, make it a preferable sector for them.
- Growth in the sector: The banking sector provides immense opportunities and options for the women candidates to prosper and raise high in the ranks. Quite a many leading national banks presently in the country have female MDs and CEOs. The top roles in the banks are often under the able leadership of the women candidates, making it an inspirations sector to join for the aspiring female candidates.
The women candidates find banking sector immensely productive and it provides the social status they always desire from their work field. This is a sector which provides the opportunity to have kids and raise them without dropping the job in between, which makes the women even more independent and free.