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Usually it is two way sword, if you are given an offer of 50% hike on your current CTC accepted for 3months notice period, then by the end of 3months you will be with an offer with more than 150%..
That is why everyone is looking for immediate joiners.
Usually banks and NBFC tech has 3 months notice period is their, yes you may face hindrance in negotiating and closing offers.
1- Tell them your ideal position HR would hire you if you are a good fit.
2- Leverage leaves, ask your supervisor your existing employer would help you