Payment Banks Recruitment 2016
The Reserve Bank on Wednesday granted ‘in-principle’ approval to 11 entities, including Reliance Industries, Aditya Birla Nuvo, Paytm, Vodafone, and Airtel, to set up payments banks. Mobikwik, Oxigen, Citrus, and Novopay Itz Cash Card also applied for the license but failed to get approval. Reserve Bank of India decided to start these Payment Banks within 18 months. In order to provide efficient services to their customers, the association has decided to hire talented candidates. So companies who got permissions for Payment Banks are going to recruit about 15000+ fresher’s and experienced people.
Payment Banks Job Openings 2016
A Payment Bank is a bank which has certain restricted Banking Functions according to the Banking Regulation Act of 1949. Payment Banks have the permission to accept deposits, payments, remittance services, internet banking and also functions as a business correspondent of other banks. Payment Banks don’t have permission to lend money to customers so they are going to offer Credit Card. The banks can accept deposits from every individual up to Rs.1 lakh. A total of 41 entities has requested RBI for permissions to start up Payment Banks. RBI has given the responsibility to External Advisory Committee (EAC) which is headed by Nachiket Mor will appraise the applications received to get permissions for payment banks. RBI has collected applications and finally have declared 11 entities to start their Payment Banks. RBI has declared that Indian Postal Service will use the large network to run these banks and to fulfill all the services to their customers, the officials are going to publish Payment Banks Job Openings 2016 notification very soon.
Payment Banks Careers 2016
List of 11 entities that Reserve Bank of India granted permission in order to set up Payment Banks are listed below:
- Aditya Birla Nuvo
- Airtel M Commerce Services
- Cholamandalam Distribution Services
- Department of Posts
- FINO PayTech
- National Securities Depository
- Reliance Industries
- Dilip Shanghvi, Sun Pharmaceuticals
- Vijay Shekhar Sharma, Paytm
- Tech Mahindra
- Vodafone M-Pesa
Interested candidates can follow the official sites of these organizations or visit our site for more information. The banks are also expected to hire 370 mid-level executives and more than a 1,000 junior-level staff. The salary range for the senior positions will range around Rs 50 lakh and Rs 75 lakh. The salary for CXOs (CEOs and other management-level executives) is in the range of Rs 1-1.5 crore while for a level below it is around Rs 70 lakh to Rs 1 crore. Regarding the notification, we shall update you as soon we get the official details.