Are you ready to embark on an exciting and rewarding career in the banking industry? Banking has always been a prestigious field, offering stability, growth opportunities, and impressive remuneration.
If you're considering a career in banking, then learning about IBPS is crucial. In this comprehensive guide, we will explain the full form of IBPS and delve into its recruitment process, career prospects, and more.
IBPS Full Form and Scope
IBPS, or the Institute of Banking Personnel Selection, plays a crucial role in conducting recruitment exams for participating banks in India. It acts as an autonomous body and is responsible for recruiting candidates for various positions in public sector banks, regional rural banks, and other financial institutions.
If you aspire to work in the banking sector, IBPS is an important organisation to be aware of. Its primary role is to select candidates for different posts in public-sector banks across the country. With a wide range of job opportunities available through IBPS, it offers great scope for aspiring banking professionals to kick-start their careers.
Origin and Evolution of IBPS
Established in 1975, IBPS has played a crucial role in revolutionising the recruitment process for banking jobs in India. It was initially set up as an independent entity with the collaboration of public sector banks, the Reserve Bank of India (RBI), and the National Institute of Bank Management (NIBM).
Over the years, it has evolved from conducting paper-based exams to adopting an online mode for its examinations. This shift has not only made the process more efficient but also increased accessibility for candidates across the country.
How Does IBPS Work?
IBPS conducts a range of exams to cater to the diverse requirements of the banking industry. These include exams for Probationary Officers (PO), Clerks, Specialist Officers (SO), and Regional Rural Bank (RRB) officers. Each exam has its own specific eligibility criteria, syllabus, and pattern.
The Common Written Examination (CWE) is the primary selection method used by IBPS to screen candidates for various banking positions. It comprises multiple-choice questions designed to assess a candidate's knowledge, aptitude, reasoning ability, and English language proficiency. The CWE is conducted online across designated examination centres.
Each division within IBPS has its own set of eligibility criteria that candidates must fulfil to be eligible to apply. The criteria generally include educational qualifications, age limits, and experience requirements specific to each position.
For example, to be eligible for the PO division, you generally need to have a graduate degree from a recognised university. The age limit is usually between 20 to 30 years, with some relaxation for reserved categories. The eligibility criteria may vary slightly for other divisions, such as Clerks or RRBs.
Participating Banks
Several prominent banks are associated with IBPS and participate in their recruitment process. Some of these include:
- State Bank of India (SBI)
- Punjab National Bank (PNB)
- Bank of Baroda (BOB)
- Canara Bank
- Union Bank of India
- Bank of India
- Central Bank of India
- Indian Overseas Bank
- UCO Bank
- Oriental Bank of Commerce
- Punjab & Sind Bank
- Indian Bank
- Andhra Bank
- Allahabad Bank
- Corporation Bank
Applying through IBPS gives you access to vacancies in multiple banks, which significantly expands your career opportunities. It allows you to choose from a wide range of job roles offered by different banks, increasing your chances of finding a role that aligns with your skills and interests.
IBPS Recruitment Process Simplified
To apply for banking jobs through IBPS, you need to undergo an online registration and application process. You can visit the official IBPS website and follow the instructions provided for registration.
Once registered, you can fill out the application form with relevant details such as personal information, educational qualifications, and work experience. Make sure to double-check all the information before submitting it.
After completing the application process, IBPS conducts preliminary and main examinations as part of the selection process.
- The preliminary examination consists of multiple-choice questions covering topics like English language proficiency, reasoning ability, and quantitative aptitude.
- The main examination is more comprehensive and includes sections on general awareness, computer knowledge, and professional knowledge related to specific job roles.
- The weightage distribution varies for each division within CWE. For example, for Probationary Officers (PO), the preliminary examination may carry a weightage of around 30%, while the main examination may carry a weightage of around 70%.
- If you successfully clear the written examinations, you will be called for a personal interview round. This round is essential as it helps assess your communication skills, personality traits, and suitability for a banking career.
Also read - Top 25 IBPS PO Interview Questions and Answers
Career Growth and Opportunities
Once selected through IBPS, candidates are eligible for various job roles offered by participating banks, which include:
- Probationary Officer (PO)
- Clerk
- Specialist Officer (SO)
- Assistant Manager
- Branch Manager
- Relationship Manager
- Credit Analyst
- Investment Banker
- Loan Officer
- Financial Analyst
Salary Prospects
In terms of salary structure, participating banks usually offer competitive pay scales and attractive perks to their employees.
- On average, the starting salary for Probationary Officers is around ₹35,000 per month, while for Clerks it is around ₹20,000 per month.
- Apart from the salary, banking professionals also enjoy benefits like medical insurance, pension schemes, loan facilities at lower interest rates, and opportunities for professional development through training programmes.
IBPS: Empowering Your Banking Journey
In conclusion, understanding the full form of IBPS and its recruitment process is crucial for aspiring banking professionals like you. With the wide scope and opportunities it offers, IBPS can be your gateway to a successful career in the banking industry.
Remember, WIZR's experts are always there to guide you through all your queries regarding IBPS and upskilling programmes to further enhance your banking journey.
FAQs
1. How often are IBPS exams held in a year?
IBPS exams are usually conducted once or twice a year, depending on the requirements of participating banks.
2. What are the fees for IBPS exams?
The application fees for IBPS exams vary depending on the category you belong to. For general candidates, it is around ₹600-₹800.
3. Where can I access previous years' question papers for IBPS exams?
You can find previous years' question papers on the official website of the Institute of Banking Personnel Selection (IBPS).
4. When should I start preparing for the IBPS exams?
It is advisable to start your preparation at least 6–9 months before the exam date to ensure thorough coverage of the syllabus and practice.
5. Who can apply for the IBPS RRB exams?
Candidates who meet the eligibility criteria specified by IBPS can apply for RRB (Regional Rural Banks) exams. These criteria include age limits, educational qualifications, and proficiency in local languages.
