Banking and Finance are inter-related. The two are dependent upon each other. Without finance, banking system cannot work and in the absence of Banking system, Finance would be of no use.
Financial services are economic services provided by the finance department of a country. The services range from providing debts, managing credits, banks, looking after insurance companies, accountancy companies, consumer finance companies, investment funds, stock brokerages etc..
As aforementioned, finance and banking are inter- connected and dependent upon each other. While financial services include taking care of banks, banks on the other hand include financial activities
Depositing money and then lending loans to the public is nothing but a financial transaction.
Let’s talk about the career in the field of Banking and Finance. A person having a degree in Finance or Economic or even Business Management can opt for the jobs in Banking and Finance.
The field offers a host of positions for the candidates for participating to have a job in this field. There can be Asset Management, Loan Processing, Financial Processing, Managing the Finance of the company, Chief Financial Officer and many other jobs like these in the same department.
Investment Bankers are the ones who assist various organisations like government and corporations, in raising funds by issuing bonds and stocks.
Jobs in this field can be found in Brokerage firms, Investment banks and other financial services companies.
There is a stiff competition to get employment in this field and industry consolidation has resulted in fewer jobs. However, with government making promises it is expected to see an increase in the job growth in the coming years.
But who knows, maybe this promise also turns out to be a false one.
India is the second most populated country in the world with a huge population of youngsters wanting to become investment bankers and CFOs but due to the industry consolidation and government’s fewer initiatives, these young blood struggle to get a meagre job. Hence, they continue to work as a small post employee in a small firm maybe.
The need of the hour is that the government takes initiatives in a positive forward manner to make the banking industry stronger in the coming years.