Greetings. Often I find students from non-commerce streams struggling about basic IBPS information. Mostly, about IBPS PO and Clerk Examinations. Even Commerce students giving the exams for the first time might be confused. Furthermore, this information might also be asked in interviews. The interviewers are often amused at how little candidates know about banking sector. And yet giving the exams!
Consequently, today’s post will focus on everything there’s is to know about IBPS and allied examinations. This includes job expectations, salary structure, pretty much everything!
What is the IBPS?
The IBPS stands for “Institute of Banking Personnel Selection”. It is an autonomous body set up for selection of personnel for various client organizations. This includes banking personnel for Public Banks in particular. SBI, SIDBI, NABARD, LIC, etc. are some of the regular clients of IBPS. Earlier, IBPS was known as PSS aka Personnel Selection Service. It’s noteworthy that PSS was a unit of NIBM.
In 1984, PSS was converted to IBPS and A S Deshpande became its founder director.
Institute of Banking Personnel Selection (IBPS) conducts its examination in two phases or tiers. The two tier exam for recruitment of IBPS PO and Clerks started only after CWE V. Earlier, it was a single tier examination. The two tier examination includes:
1. IBPS Preliminary Exam
2. IBPS Mains Exam.
What is the full form of Bank PO?
Probationary Officer. A bank Probationary Officer (PO) is a scale-1 Officer in Banks. In some Banks, Scale-1 officers are also called Assistant Managers (AM). They are Junior Management Grade-1 Officer. In simpler terms, PO is the starting designation in officer cadre.
What is a Bank PO?
A Bank PO or IBPS PO is a Scale-1 Officer on probation. Also, a Bank PO is a Junior Management Grade-1 Officer (sometimes referred to a JMG-1 in short). The shortlisted candidates go through an induction program after selection. Here, the POs are taken through a brief history of the organization (the bank they are selected in). This includes future challenges, job expectations, banking fundamentals, brief on banking software (mostly Finacle or Bancs).
The candidates are allotted their respective joining branches after induction process. As induction is often carried out in several batches, earlier batches may enjoy a preferred posting. But usually home posting are allotted in extreme cases. You might be allotted a nearby posting but not an exact home posting. But again it depends.
The duration of probation varies from Banks to Banks. We have observed a probation of 1 to 2 years in most of the Banks. After induction, a thorough Police Verification is also done to check any anomalies in the candidate’s profile.
What is the salary of a bank manager?
The salary of Bank PO (Officers) & Clerks is governed by Bipartite Settlement. And not by Pay Commission. IBA requests a wage revision every 5 years with other demands. The management then negotiates with IBA and accepts some demands. Presently the starting basic pay is Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020 applicable to JMG Scale-I. Besides the Basic Pay, Bankers enjoy Dearness Allowance (D.A), House Rent Allowance (H.R.A), Medical, Newspaper, Mobile Recharge, Local Conveyance and other allowances. The initial CTC crosses 6 lakhs per year. Among all Banks, SBI offers the best initial package.
NOTE: SBI conducts a separate exam and does not hire through IBPS common examination.
What does the PO of a bank do?
Every Bank PO is allotted individual vertical. Example include RBG (Retail Banking Group), Trade Finance, CBG (Corporate Banking Group), Rajbhasha (Hindi), Financial Inclusion, etc. However, all new recruits are usually allotted RBG vertical. In RBG vertical, they may be assigned as Asset Officer, Relationship Officer, Teller/Cashier, or Customer Support. Intra and Inter-Vertical transfers are quite common with Job Rotation. The job of the Bank / IBPS PO is to learn within the vertical and perform.
What is the job of a bank clerk?
Head Cashier is primarily responsible for handling of all the cash within the branch. Head cashier manages all cash remittance(sending/receiving), ATM loading/unloading, and looks after cash retention in the branch. Also, everything that’s within the vault, including documents, gold, lockers, etc falls under the responsibility of the Head Cashier. Head Cashier is always a joint custodian with other clerks/Service Operations Manager/Branch Manager.
Besides Head Cashier, there are other clerks who help the Head Cashier with day to day work. In smaller branches, there is a concept of SWO (Single Window Operator). SWO is responsible for multiple jobs at the same counter. Some of the work done includes Passbook printing, NEFT/RTGS, Term Deposits, and other related requests. The Clerks may also handle other operations in bigger branches, apart from cash. They often assist Officers with loans, recovery, corporate business, CA/SA acquisition, etc.
What is the qualification for IBPS PO exam?
Nationality: A citizen of India/ Nepal/ Bhutan or Tibetan Refugee
A person of Indian origin who is a migrant of Pakistan, Burma, Sri Lanka, East African countries of Kenya, Uganda, the United Republic of Tanzania, Zambia, Ethiopia and Vietnam with the intention of permanently settling in India
The candidate who belongs to other countries or is migrants should produce the certificate of eligibility which has to be issued by Indian Government.
Educational Qualification: The candidate must have a graduation degree in any discipline from the Indian Government recognized University or any equivalent qualification recognized by the Central Government. The candidate should have a valid mark sheet/ degree certificate.
Age Limit Criteria: The minimum Age limit for IBPS examinations as on 01.07.2017 is 20 years. And the maximum age limit is 30 years. The age limit differs for Scale-2 recruitment.
- Scheduled Caste/Scheduled Tribe – 5 years
- Other Backward Classes (Non-Creamy Layer Only) – 3 years
- Persons With Disabilities – 10 years
- Ex-Servicemen – 5 years
- Persons affected by 1984 riots – 5 years
- Also, Persons ordinarily domiciled in the Kashmir Division during the period 01.01.1980 to 31.12.1989 – 5 years
What is IBPS RRB?
Regional Rural Banks (RRB) are banks operating at a local level in almost all States of India.
RRBs were quite instrumental in bringing the common man under the ambit of Banking Umbrella. IBPS conducts the common written examination for RRBs as well. However, the RRBs conduct interviews themselves. If you are applying for 4 different RRBs, you have to fill up the form online for all four of them. Afterwards, all the four RRBs will conduct separate interviews.
How can I prepare for bank exams?
Its important to chalk out the important sections within each Subject. As the IBPS PO syllabus is vast, and time is crucial, focusing on your stronger points is a good strategy. Also, Spending too much time on weaker subjects is not advisable if time is a constraint. However, if you have a year or more for preparation, you can devote time equally among subjects. Develop banking awareness and read newspaper daily. All important schemes launched by the government particularly in financial sector is of immense importance. We advice learning shortcuts for common questions usually asked in exams, and building confidence. You may also refer to our English section for complete grammar coverage.
I hope this post answers most of your questions regarding IBPS PO. If there is a specific question you want answered, please let me know in the comments, and I’ll try to include it in the post.
Please let me know if you want a post on something specific. I’ll try to be prudent and post immediately.
Have a great day, Guys! Ciao!