PRIVATE BANKS have started making a beeline for the Pune-based National Institute of Bank Management (NIBM) to conduct recruitment drives. This year, the institute saw consultancy bodies and IT companies coming for recruitment drives, which officials claim, were over in record time.
Dr Achintan Bhattacharya, director of NIBM, said that the institute had faced some difficulties in placement after the decision of the Central government to bar PSBs from campus recruitment in 2014. The Centre’s decision came after a Supreme Court ruling that bank officers can only be recruited through public service examinations. “During the last two years, although we had managed to place 100 per cent of our students, the exercise took some time,” he said.
This year, he said, the placements were over in a span of six days and there was an average hike of 25 per cent in the compensation packages offered to the students. Some of the private banks which had conducted campus recruitments at NIBM were HDFC, Axis and ICICI. During this year’s drive, HDFC had picked up eight students while Axis Bank had rolled out offers to 14 students—the highest by a single bank this year. Other than banks, consultancy firms like Deloitte, Imacs (ICRA management and consultancy services), KPMG and IT firms like Wipro, TCS and others also conducted recruitment drives at the institute.
“Prior to 2014, the PSBs used to compete with each other to recruit candidates. As a result, each student used to get four offers,” he said. This year, however, they had to restrict the number of companies coming for recruitment drive given the small batch size of NIBM, Dr Bhattacharya said.
He added that the institute will be increasing their students’ intake by 30 starting from the academic year 2016-17. “This will allow for more financial institutions to part take in the process,” he said.