Full Form of IBPS – Institute of Banking Personnel Selection
Origin of IBPS
IBPS is situated in Mumbai (Maharashtra). Even though it was established in 1975, it became an independent and recognized body in 1984 with the Reserve Bank of India (RBI). In 2011 it started conducting a common entrance examination (CWE) for candidates willing to work in public sector banks. Now it has become mandatory to write common entrance exams to get recruited into public sector banks.
History
IBPS was established in 1975 and became an independent government-recognized body with the Reserve Bank of India (RBI) permission. Earlier it was called Personal selection services (PSS). Applications for the exam will be accepted through its official website, called www.ibps.in.
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Services
- It provides assistance in conducting examinations for recruitment and promotion of the candidates.It conducts training programs for the banking staff to develop their skills.Provides services to other financial sectors like insurance companies and cooperative banks.Recruits officers and assistance for RRBRRBRRB stands for Regional Rural Bank. They are Indian government banks who operate as regional commercial banks and serve the country’s rural areas, providing basic banking and other financial services. read more.Setting up Assessment centers for upgrading the skills of the staff.Nominates experts who have expertise in the banking industry.
How Does IBPS Work?
IBPS works through the Governing board, which is set up to regulate the IBPS body and regularly govern its administrative activities.
Members of the Governing board are:
- Reserve Bank of IndiaNational Institute of Bank ManagementMinistry of FinanceInsurance SectorRepresentatives of Public Sector Banks
Participating Banks
There are twenty participating banks in 2019, which are given below –
- Allahabad BankAndhra BankBank of IndiaBank of BarodaBank of MaharashtraCanara BankCentral Bank of IndiaCorporation BankDena BankIDBI BankIndian BankIndian Overseas BankOriental Bank of CommercePunjab National BankPunjab and Sind BankSyndicate BankUCO BankUnion Bank of IndiaUnited Bank of IndiaVijaya Bank
Recruitment Process of IBPS
The candidates’ eligibility to write IBPS exams is: Candidates age should be between 20 to 30 years, educational qualification can be any degree obtained from a recognized university.
IBPS selection process can be broadly divided into three stages:
- Written Examination – PrelimsWritten Examination – MainsPersonal InterviewFinal Selection
#1 – Written Examination – Prelims
IBPS Preliminary examination is the first stage in the selection process, and it consists of three sections: English language, quantitative aptitude, and reasoning ability. Total duration – 60 minutes, of which 20 minutes for each section. Candidates have to score cut-off marks in total and in each section. It is an objective type (MCQ) online exam. For every answer, 0.25 marks will be deducted.
#2 – Written Examination – Mains
Candidates who qualified for prelims are eligible for the main exam. It has both objective and descriptive papers. There are four sections- English Language, Data Interpretation and Analysis, Reasoning and Computer Awareness, General/ Banking, and Economy Awareness. For multiple-choice questions (MCQs), 0.25 marks will be deducted for every wrong answer.
IBPS Clerical Exam – Objective Questions (MCQ)
IBPS Probationary Officers (PO) Exam – Both MCQ and descriptive time allotted is 30 minutes which consists of 2 descriptive questions of English language (letter writing and essay writing)
#3 – Personal Interview
Candidates qualified in the main exam are called for a personal interview. The total marks allotted is 100 marks, the minimum marks to qualify for General candidates is 40%, and for SC/ST/OBC – above 35%.
#4 – Final Selection
The main exam and personal interview will be considered for the final selection of the candidates. Their weightage will be in the ratio of 80:20, respectively. The final merit list will be released after the interview process; then, candidates will be offered to join a letter in the bank.
Conclusion
IBPS is an autonomous, recognized body that offers comprehensive services in banking personnel recruitment by conducting exams and training bank employees in public sector banks. Proficient candidates will get recruited from public sector banks. Candidates willing to join public sector banks can use the opportunity provided by IBPS through the selection process.
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