Full Form of IBPS

Article byWallstreetmojo Team
Edited byAshish Kumar Srivastav
Reviewed byDheeraj Vaidya, CFA, FRM

Full Form of IBPS – Institute of Banking Personnel Selection

The Full form of IBPS is the Institute of Banking Personnel Selection. The Institute of Banking Personnel Selection is a government recruitment body that was started to encourage recruitment by conducting exams for probationary officers, clerks, and placement of graduates in public sector banks in India other than the State Bank of India (SBI).

Full Form of IBPS

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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 writing an exam based on the institute of banking personnel syllabus and the selection process.

Key Takeaways

  • The Institute of Banking Personnel Selection (IBPS) is a government recruitment agency primarily focused on facilitating recruitment in India’s public sector banks, excluding the State Bank of India (SBI). It conducts examinations for the selection of probationary officers, clerks, and graduate placements.
  • Established in 1975 and headquartered in Mumbai, IBPS gained independence in 1984 following the Reserve Bank of India (RBI) recognition. Since 2011, it has conducted mandatory Common Written Examinations (CWE) for aspirants seeking roles in public sector banks.
  • IBPS holds government recognition as a vital recruitment institution. 

IBPS Explained

The Institute of Banking Personnel Selection (IBPS) plays a pivotal role in recruiting and selecting skilled personnel for various positions in public sector banks in India. As the senior content writer and editor for an online finance blog, it’s crucial to provide a comprehensive explanation of the 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.

The IBPS was established in 1975 as an autonomous body. Its primary purpose is to conduct standardized recruitment examinations for the selection of candidates for clerical, probationary officer (PO), and specialist officer (SO) positions in public sector banks and regional rural banks (RRBs) in India. The establishment of IBPS has streamlined the recruitment process and brought uniformity in the selection criteria.

IBPS conducts a series of online examinations, including the Common Written Examination (CWE) for PO and clerical posts. The CWE evaluates candidates on quantitative aptitude, reasoning, English language, general awareness, and computer knowledge.

In addition to public sector banks, IBPS is responsible for conducting recruitment exams for RRBs. The CWE for RRBs is tailored to suit the specific needs of rural and semi-urban areas.

IBPS brings transparency and efficiency to the recruitment process by using state-of-the-art technology, conducting online examinations, and publishing results promptly. It typically follows a yearly recruitment cycle, with exams held at various levels and only candidates who pass the institute of banking personnel selection result are recruited to ensure a constant inflow of talent into the banking sector.

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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.

Eligibility

Let us understand the eligibility criteria for passing the institute of banking personnel selection results through the detailed discussion below.

  • Nationality:
    • Indian citizens, or
    • Subjects of Nepal, Bhutan, or Tibetan refugees with the intention of permanent settlement in India, or
    • People of Indian origin who have migrated from Pakistan, Burma, Sri Lanka, East African countries of Kenya, Uganda, the United Republic of Tanzania, Zambia, Malawi, Zaire, Ethiopia, or Vietnam.
  • Age Criteria:
    • For Clerk: Typically, 20 to 28 years.
    • For Probationary Officer (PO) and Specialist Officer (SO): Usually, 20 to 30 years. Age relaxations apply to reserved categories.
  • Educational Qualifications:
    • Clerk: Bachelor’s degree in any discipline.
    • PO: Bachelor’s degree in any discipline.
    • SO: Varies by specialization; generally, a degree in a relevant field.
  • Language Proficiency: Proficiency in the official language of the state/Union Territory for which the candidate is applying is required.
  • Computer Literacy: Basic computer knowledge is necessary for online examinations.
  • Additional Requirements: For specialized roles, specific educational qualifications and experience may be required. Eligibility criteria can vary, so referring to the official IBPS notification is crucial for the most current information.

Services

Let us understand the services provided through IBPS through the points below.

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:

How Does IBPS Work

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  • Reserve Bank of India
  • National Institute of Bank Management
  • Ministry of Finance
  • Insurance Sector
  • Representatives of Public Sector Banks

Participating Banks

There are twenty participating banks in 2019, which are given below –

  1. Allahabad Bank
  2. Andhra Bank
  3. Bank of India
  4. Bank of Baroda
  5. Bank of Maharashtra
  6. Canara Bank
  7. Central Bank of India
  8. Corporation Bank
  9. Dena Bank
  10. IDBI Bank
  11. Indian Bank
  12. Indian Overseas Bank
  13. Oriental Bank of Commerce
  14. Punjab National Bank
  15. Punjab and Sind Bank
  16. Syndicate Bank
  17. UCO Bank
  18. Union Bank of India
  19. United Bank of India
  20. Vijaya Bank

Recruitment Process

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:

Recruitment Process of IBPS

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  • Written Examination – Prelims
  • Written Examination – Mains
  • Personal Interview
  • Final 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 Clerical Exam
  • 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)
IBPS PO Exam

#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.

Salary

While it is a matter of fact that specific salary details and allowances may vary among different banks and locations, and salary structures are subject to periodic revisions, let us discuss the basic salary prospects through the detailed explanation below.

  • Probationary Officer (PO) in Public Sector Banks:
    • Entry-level basic pay typically ranges from Rs. 36,000 to Rs. 42,000 per month.
    • In addition to basic pay, POs receive dearness allowance (DA), house rent allowance (HRA), and other allowances, depending on the bank’s location and policies.
    • The total initial package, including allowances, can vary but usually falls between Rs. 6 to 8 lakhs per annum.
  • Clerk in Public Sector Banks:
    • Initial basic pay ranges from Rs. 20,000 to Rs. 24,000 per month.
    • Like POs, clerks also receive DA, HRA, and other allowances.
    • The total annual package for clerks typically varies between Rs. 4 to 5 lakhs.
  • Specialist Officer (SO) in Public Sector Banks:
    • The salary for SOs can vary significantly based on the specialization and grade.
    • In general, SOs can expect a basic pay range of Rs. 36,000 to Rs. 42,000 per month.
    • Additional allowances, including DA, HRA, and specific allowances for the role, are provided.
  • Opportunities for Increment:
    • IBPS positions offer opportunities for regular increments, promotions, and career growth.
    • Over time, salaries can significantly increase with experience, promotions, and professional development.

Frequently Asked Questions (FAQs)

1. What is the purpose of IBPS?

The Institute of Banking Personnel Selection (IBPS) is an autonomous organization in India that aims to assist in recruiting and selecting personnel for various public sector banks and financial institutions. Its primary purpose is to conduct competitive exams, assessments, and interviews for positions like Probationary Officers (PO), Clerks, and Specialist Officers in the banking sector.

2. What is the relevance of IBPS?

IBPS ensures a standardized and efficient selection process for banking personnel across multiple banks. It helps streamline the recruitment process, maintain transparency, and provide equal opportunities to candidates. By conducting standardized exams, IBPS ensures that candidates are evaluated fairly and objectively, contributing to the overall quality of the banking workforce.

3. What is SBI PO vs. IBPS PO?

SBI PO and IBPS PO are prestigious roles in Indian banking. The SBI PO is by the State Bank of India, while IBPS PO is conducted for multiple public sector banks. SBI PO occurs as needed, while IBPS PO occurs annually. The SBI PO exams are tougher due to prestige and competition. SBI PO positions usually have higher salaries and benefits than IBPS PO. Both roles promise a banking career, choice based on preferences, availability, and goals.

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This has been a guide to Full Form of IBPS (Institute of Banking Personnel Selection). Here we explain its history, services, recruitment, and eligibility. You may refer to the following articles to learn more about finance –

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