With the economy growing at a robust pace, employment opportunities are multiplying, particularly in the rural sector, with companies focusing on the untapped potential there. Mint presents a fortnightly column on job prospects inthe sector.
What kind of jobs are offered by banks to agricultural graduates?
The main source of profits for banks is the difference between the borrowing and lending rates. Rural areas have always had a high business potential. However, high transaction costs, from the low density of population and low value of deposits and loans per household have prevented the growth of financial institutions there. As a result, the Reserve Bank of India has fixed bank-wise annual targets for rural business in an effort to push banks to cater to rural areas.
New-generation banks such as ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank Ltd, however, find it profitable to operate in rural markets. One emerging area is financing farmers against agricultural commodities that are stored in bank-approved warehouses. A loan is advanced against this produce, enabling a farmer to sell when prices are favourable. Such loans help in meeting short-term contingencies. From the bank’s point of view, this is a risk-free loan. Generally, the harvested crops of all farmers reach the market at the same time. This creates excess supply, bringing down the price drastically. Hence, the farmer can avoid distress sales. Job opportunities in banks have increased multifold for agricultural graduates.
I recently resigned from my job at an agri inputs company, but my employer is offering me a major hike in salary and wants me to stay back. What should I do?
Normally, one should not stay back after resigning. The rapport that you share dilutes within moments of putting in your papers. It amounts to calling off a relationship, and then choosing to value it again. In cases where human beings are involved, old equations readjust if you choose to stay back and can leave you with no option but to start looking for another job, again.
Ajay Gupta is CEO of ruralnaukri.com. Comments and feedback are welcome at firstname.lastname@example.org