Thousands of banking aspirants who wish to join Private or Public-Sector Banks are unaware of the career growth opportunities that banks offer. Depending on your performance and experience in the Banking Sector, your organization might upgrade your position.
There are two approaches that banks adopt for promotion:
1. Seniority Based
2. Merit Based
For the Seniority Based promotion, your experience is considered. But for the Merit Based fast track promotion, you need to appear in JAIIB and CAIIB Exams.
To understand, what are JAIIB and CAIIB Exams in Banking, we approached Mr. Sumit Sharma (Former Bank PO at PNB) and he readily agreed to provide us his insights regarding the eligibility criteria, registration process, preparation strategies for these exams.
Check his complete interview about IIBF JAIIB and CAIIB Exam and his experience in the Banking Sector.
Please Tell Us About Your Journey from a Graduate to Banker.
Ans: I have done my B Tech in Mechanical Engineering Branch from Shiv Nadar University and I graduated in the year 2015. I got an IT job during campus placements but due to lack of interest in that field, I did not join there. After my graduation, I came to know about SSC and Banking Exams. Both the exams were going to held in October, I prepared for both simultaneously and cracked IBPS PO.
And Finally, I got selected in Punjab National Bank as a Probationary Officer.
What is JAIIB Exam?
Ans: What is the Full Form of JAIIB? - Junior Associate of Indian Institute of Bankers.
It is an associate exam conducted by the Indian Institute of Banking & Finance. The main objective of conducting this exam is to test basic knowledge to the ordinary members working in banking & financial services. The exam is conducted twice a year in June and November.
This exam is mainly targeted for sub staffs, clerks or single window operators (ordinary members of IIBF) to acquire basic knowledge about banking Industry.
What is CAIIB Exam?
Ans: What is the Full Form of CAIIB? – Chartered Associate of Indian Institute of Bankers.
It is also an associate exam conducted by the Indian Institute of Banking & Finance. But the main objective of conducting this exam is to provide an advanced knowledge to the banking officials to improve their decision-making skills in their respective fields/departments.
So, this exam is mainly targeted at officers/ assistant managers and above cadres. This exam provides necessary advanced level knowledge at a specialized department like Treasury, International Banking Division, IT, Human Resources, Corporate Banking, Retail Banking, Cooperative Banking etc.
But in order to appear in the CAIIB Exam, one has to clear the basic exam JAIIB.
Who Can Apply for the JAIIB and CAIIB Exams?
Ans: Any person who is currently working in any Bank or Financial Institution can register for these exams.
First, you need to register yourself as a member of IIBF, thereafter you can apply whenever the registrations for these exams are open. These exams are conducted twice a year.
You can register here- https://iibf.esdsconnect.com/register/member/
You can also apply for Diploma in Banking & Finance (DB&F) Exam if you are not working in any financial institution. This is equivalent to JAIIB and after joining the financial institution you can request IIBF to convert it to JAIIB and then apply directly for CAIIB.
PS: I, myself, cleared DB&F before joining the bank and then converted it to JAIIB.
How to Apply for These Exams?
Ans: You can apply online directly from the IIBF website.
The Candidates can choose their exam venue, time slot and choice of subject as per their preference from November 2017 onwards.
The candidates can download admit letters after successful submission of application. One copy of the admit letter will be sent to the registered Email ID.
The examination fee is based on the GST regime. The fee structure is as follows:
First attempt – 2400 INR
Second attempt – 1000 INR
Third attempt – 1000 INR
Fourth attempt – 1000 INR
First attempt – 2700 INR
Second attempt – 1000 INR
Third attempt – 1000 INR
Fourth attempt – 1000 INR
Late registration fee: Regular exam fee + 200 INR.
How to Clear JAIIB in a Single Attempt?
Ans: JAIIB Exam consists of 3 subjects.
1. Principles & Practices of Banking.
2. Accounting & Finance for Bankers.
3. Legal & Regulatory Aspects of Banking.
The first paper is about various Financial Institutions, how a bank works and different types of Bank-Customer Relationships.
The candidates hailing from non-commerce background may find second paper difficult as various accountancy concepts and numerical questions are there. You will need to study these carefully if you are working on the credit seat or are planning to do so.
The first module of the exam assesses Business Mathematics and it is comparatively easy.
The 2nd module of the exam is about Accountancy and this section is attainable to clear the exam with good score. People think that they can clear the exam by some notes and studying before 1 or 2 days before the exam. This is not the right approach. You should start reading the course book before 2-3 months and study regularly.
The 3rd exam is for Legal & Regulatory Aspects of Banking. This one is geared towards the Banking Laws. The questions will be straightforward, and some questions are scenario-based too.
How to Prepare for CAIIB in First Attempt?
Ans: There are 3 subjects in the CAIIB Exam.
1. Advance Bank Management.
2. Bank Financial Management.
3. Any of the following 11 elective subjects:
Human Resources Management.
You can choose any of them according to your interest or your working department.
Can an Employee Apply for JAIIB and CAIIB Simultaneously?
Ans: No, you have to clear JAIIB first. And then only, you can write CAIIB.
Can an RRB Employees Write JAIIB CAIIB?
Ans: Yes, an RRB Employee can write these exams as long as the bank is registered with the IIBF.
Almost 99% RRBs are registered with IIBF as Scheduled Banks.
Can a Private Bank Employee Write JAIIB?
Ans: Yes, a Private Bank Employee can write these exams as long as the bank is registered with the IIBF.
Almost 99% of the Private Banks are registered.
How Much Increment Can Be Expected in the Salary, After Clearing JAIIB and CAIIB Exams?
Ans: The increment depends on the promotion policy of the Banking Institutes.
Public Sector Banks give 1 increment for JAIIB and 1 for CAIIB. The monetary value depends upon your basic pay.
Most RRB’s and the Private Banks do not give any increment but if you are planning to work in the banking sector, then you must take these exams. These will help you during the promotion.
Tell Something About Your Life as a Bank Employee. Do You Enjoy the Job or Being Banker is A Tough Grind?
Ans: I left my banking job a few months ago. Every job has its own ups and downs and it depends on the person, whether he enjoys it or not.
For me, Banking was not my passion. It was the first exam that I cleared, so I joined.
On a Final Note, What is Your Advice to The JAIIB and CAIIB Aspirants?
Ans: Start early, I am seeing that many aspirants are saying that exam is getting tougher but that is not true. Previously, they used to ask straightforward questions. Now, they ask conceptual questions to check your understanding of the subject. You have to read the prescribed McMillan Book by IIBF and start studying at least 3 months before the exam.
Ready-made short notes are of no use! Many aspirants also join coaching for these exams. In my opinion, the prescribed book is more than sufficient, if you follow it religiously.
Other Exams conducted by IIBF that you must know:
Certificate Examination in Banking Oriented Paper in Hindi (BOPH)
Diploma in Banking & Finance (DBF)
Certificate Examination for DSA / DMA
Diploma in Banking Technology (DBT)
PGDBF for Bank PO Job in BOB, AXIS, ICICI, HDFC
Most of the Banks have a fast track channel of becoming officer through these exams. A career without significant growth is gruelling, but not rewarding. So, take up the challenge and flourish your banking career.
We would like to thank Mr. Sumit Sharma for this remarkable interview. We wish him luck for his future.
Did you like what you’ve read about JAIIB and CAIIB Exam? Leave a comment and let us know what you think.
Suggestions, queries, comments, compliments and even criticism are welcome, as it helps us make Eduncle more career-friendly on an ongoing basis.