IBPS Bank PO Course

IBPS (Institute of Banking Personnel Selection) is an autonomous body set up by the government to recruit candidates for various banks such as IDBI, Indian Bank etc. It has been rendering assistance to the financial sector in the fields of employees’ selection, promotion and placement.

It is proposed that over the next few years, banks will need to recruit lakhs of candidates to fill open positions and this represents a tremendous opportunity for prospective candidates to join one of the many nationalized banks as Probationary Officers.

The following banks will recruit candidates based on the CWE. As this list can change without notice, candidates will be emailed/ contacted by Studycopter for any changes to this list. Candidates can also check exam online at ibps.in (Official Site for the IBPS Exam)

• Allahabad Bank
• Indian Bank
• Andhra Bank
• Indian Overseas Bank
• Bank of Baroda
• Oriental Bank of Commerce
• Bank of India
• Punjab National Bank
• Bank of Maharashtra
• Punjab & Sind Bank
• Canara Bank
• Syndicate Bank
• Central Bank of India
• UCO Bank
• Corporation Bank
• Union Bank of India
• Dena Bank
• United Bank of India
• IDBI Bank
• Vijaya Bank

As the name suggests, Probationary Officers are recruited to run the day-to-day operations and business in a bank. These are entry level recruitments for Indian banks. After getting selected as a PO, candidates will undergo probation or a training period for upto 2 years. After the training, the candidate can be promoted to an Assistant Manager post and can get a variety of duties depending on the candidate's interest and the needs of the organization.

Probationary Officers generally work on the following:

Cash Handling: As a PO, one has to perform cash related activities like cash disbursal & cash collection from cashiers. In time of excessive work pressure, one may be required to perform clerical duties as well. As an officer, one is also responsible for loading the cash in the ATM machines.

Payment Clearances:  As an officer, one needs to authorize some payments by way of cheque, DD, NEFT/ RTGS beyond a certain amount.

Maintain Reports: To avoid any mismatch, one will have to close all the work on a daily basis.  Officers would be assigned to generate reports that may include the deposits, withdrawals, ledger balances, etc.

Daily Work Communication: As POs interact directly with the customers, they have the key responsibility of maintaining a track of new developments to improve their product knowledge. As a PO, one will also have to send official replies to other departments.

Customers Services: In their branches, POs will be asked to look into the concerns of the customers coming for  loans, opening of new accounts, ATM services, deposits, cheque books, credit cards and  online banking etc.

Adding New Business: As POs are direct channels of dealing with customers, they have the responsibility of promoting various banking products. These products include Recurring Deposits, Fixed Deposits, Insurance policies, Funds, Credit Cards, Loans, etc.  Initially, POs are not under any pressure of selling these products, but as they grow older in their jobs, they get targets & deadlines for selling these products.

IBPS PO exam is a computer based exam conducted by IBPS every year. IBPS PO CWE will be conducted by IBPS later this year.

Step 1 of Bank PO Exam is a Common Written Examination (CEW) Preliminary Exam. The 2016 IBPS PO exam will have a preliminary exam and a main exam.

Paper Pattern for 2016 IBPS PO Prelims Exams

S. No.	Subject	Maximum Marks	Total Time
1	Reasoning Ability	35	60 Minutes
2	Quantitative Ability/ Mathematics	35
3	Verbal Ability/ English	30
		All correct answers will fetch one mark and 0.25 marks will be deducted for incorrect answers
Total		100

 

Paper Pattern for 2016 IBPS PO Mains Exams

S. No.	Name of the Tests	Maximum Marks	Total Time
1	PO Reasoning Ability	50	120 Minutes
2	PO English Language/ Verbal Ability	40
3	PO General Awareness Test with special emphasis on banking awareness	40
4	PO Computer Ability	20
5	PO Quantitative Ability	50
Total		200

Note: Each correct answer is awarded one mark and 1/4 mark is deducted for each incorrect answer. All subjects (except English language) would be available in two languages: English and Hindi

• Do note that the General Awareness section has special emphasis on the Banking sector.
• Do note that Studycopter contains all that you need to ace the IBPS SO exam

After clearing both exams, selected candidates will subsequently be called for a Common Interview coordinated by IBPS. Each candidate will have to secure a minimum standard score in each of the 5 sections as well as on the Total Weighted Standard Score to be called for interview. Candidates, successful in qualifying in both the CWE and Common Interview will be listed in the order of merit.

Depending on the vacancies in each bank, candidates will receive through a computerized system an offer from one of the Participating Public Sector Banks listed below. Depending on the number of vacancies, the cut–offs are decided by participating public sector banks (currently 21 PSBs are participating). Vacancies remaining unfilled on account of candidates declining offer, will be filled from among the remaining candidates, through subsequent iterations.

The interviews are held at select centers, and the respective banks for the interviews call candidates. The typical duration of an interview is 30–40 minutes.

What IBPS says: “ total marks allotted for the interview are 100. The minimum qualifying marks in interview will not be less than 40% (35% for SC/ ST/ OBC/ PWD candidates). The weightage (ratio) of CWE (exam) and interview will be 80:20 respectively. The combined final scores of candidates shall be arrived at on the basis of scores obtained by the candidates in CWE PO/MT and Interview. A candidate should qualify both in the CWE and interview and be sufficiently high in the merit to be shortlisted for subsequent provisional allotment process.”

In case of two candidates scoring the same, the preferences shall given based on date of birth i.e. the candidate senior in age shall be given preference at the time of allotment of branches/banks

Studycopter provides specific training for the Interview/ GD stage of the selection process. Candidates who clear the CWE work with dedicated Studycopter counselors to ace their interviews

The detailed syllabus for all subjects for the IBPS PO Exam is given above. Do note that Studycopter provides detailed study material, practice questions, and mock tests for all sections of the exam so that candidates don't have to go from place to place and can get their entire exam preparation done on Studycopter.

IBPS PO Category-wise Cut off marks 2015

Subject (Paper) wise Cut off marks 2015

IBPS PO Category-wise Cut off marks 2014

Subject (Paper) wise Cut off marks 2014

IBPS PO Category-wise Cut off marks 2013

Subject (Paper) wise Cut off marks 2013

IBPS PO Category-wise Cut off marks 2012

Subject (Paper) wise Cut off marks 2012

The age is to be between 20 & 30 years & no work experience is required

A Degree (Graduation) in any discipline from a University recognized by the Govt. Of India or any equivalent qualification recognized as such by the Central Government.

A candidate must be one of the following countries:

• Citizen of Indian
• Citizen of Nepal
• Citizen of Bhutan
• A Tibetan refugee
• Migrated People from Pakistan, Burma, Sri Lanka, East African countries of Kenya, Uganda, the United Republic of Tanzania (formerly Tanganyika and Zanzibar), Zambia, Malawi, Zaire, Ethiopia and Vietnam with the intention of permanently settling in India.

Probationary Officers can expect a salary between Rs. 37,360 to Rs. 38,800 per mont. In most banks, basic pay is the same but the CTC varies based on location and bank.

Current, revised basic pay of PO:

23700 – (980 x 7) – 30560 – (1145 x 2) – 32850 – (1310 x 7) – 42020

• Basic Pay: Rs. 23700
• Annual Increment: Rs. 980 , it will be applicable for a period of 7 years.
• Dearness Allowance (DA): Revised DA for the quarter 2015-2016 is 39.80% of the Basic Pay. In Banks, DA is revised quarterly and is based on the CPI data as revealed by Government of India.
• Special Allowance: In the latest revision, a special allowance has been added to the salary structure of Bank PO. In addition, it is 7.75% of the Basic Pay.
• House Rent Allowance: This varies according to Bank PO’s place of posting and can be 9.0% or 8.0%or 7.0% depending upon metros, big cities and other locations.
• City Compensatory Allowance: This also depends on the place of posting and can be either 4% or 3 %or 0%.
  

Probationary Officers will get adequate training in respective departments before their appointment to the JMG (Junior Management) Scale I position. They will be promoted to JMG Scale II to and MMG (Middle Management) Scales in the upcoming years based on performance in tests/interviews, and service rules. Experienced hands may directly join the JMG Scale II post by clearing the relevant IBPS Probationary Exam.

Other Perks

1. Leased Accommodation:  this facility is available to Bank PO in place of HRA. At some places, banks provide Official Bank Accommodation/Bank Quarter as leased accommodation. This amount is not available as cash component and will directly go to the house owner – you have got leased.

2. Traveling Allowance: Few banks provide fixed Traveling Allowance whereas others allow reimbursement of petrol bills i.e. officer must own scooter / car at the place of posting.

3. Newspaper Reimbursement: A fixed monthly amount is paid towards the cost of one newspaper.

4. Medical Aid: A fixed annual amount is paid by most of the banks (Revised amount is Rs. 8000/- p.a.)

5. Benefits under New Pension Scheme.

There is a well-defined career progression path in each public sector bank. Performance and potential are key elements which determine this career progression. Most senior officials in public sector banks started their career as scale I officerss.

In tune with the time banks have reviewed their promotion policy and now for bright, hardworking and knowledgeable employees it takes less time to move to higher scales.

In many banks, a person who joined as an officer may reach to the position of General Manager in 14 years. After that one can aspire for the position of executive director or chairman of a bank. These are very high positions, nomination to which is decided by the Government and not by the individual banks.

Many public sector banks have a network of foreign branches. Thus, joining a public sector bank gives you the opportunity of working abroad also. Transferability in a bank job provides you the chance of seeing different parts of the country.

Career progression for Officers in Banking Sector:

Junior Management Grade – Scale I: Officer i.e. PO

Middle Management Grade – Scale II: Manager

Middle Management Grade – Scale III: Senior Manager

Senior Management Grade – Scale IV: Chief Manager

Senior Management Grade Scale V: Assistant General Manager

Top Management Grade Scale VI: Deputy General Manager

Top Management Grade Scale VII: General Manager

Executive Director (ED)

Chairman and Managing Director (CMD)

Candidates are advised to checkout ibps.in regulary for official updates on IBPS PO Exam. Studycopter will publishing all important updates and keep its users apprised of all information related to IBPS SO exam through regular updates as well.

IBPS PO prelim exam will be on 16th October 2016, 22nd October 2016 and 23rd October 2016 and the main exam will be on 20th November 2016. Registrations will start in July 2016.