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 the 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).
Origin of IBPS
Even though it was established in 1975, it became an independent recognized body in 1984 with the Reserve Bank of India (RBI). In 2011 it started conducting a common entrance examination (CWE) for the candidates who are willing to work in public sector banks. Now it became mandatory to write common entrance exams to get recruited in public sector banks. IBPS is situated in Mumbai (Maharashtra).
IBPS was established in 1975, and it became an independent government-recognized body with the Reserve Bank of India (RBI) permission. Earlier it is called Personal selection services (PSS). Applications for the exam will be accepted through its official website, called www.ibps.in.
- 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, co-operative banks.
- Recruits officers and assistance for RRB.
- Setting up Assessment centers for upgrading the skills of the staff.
- Nominates experts who are 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 India
- National Institute of Bank Management
- Ministry of Finance
- Insurance Sector
- Representatives of Public Sector Banks
There are twenty participating banks in 2019, which are given below –
- Allahabad Bank
- Andhra Bank
- Bank of India
- Bank of Baroda
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Corporation Bank
- Dena Bank
- IDBI Bank
- Indian Bank
- Indian Overseas Bank
- Oriental Bank of Commerce
- Punjab National Bank
- Punjab and Sind Bank
- Syndicate Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- Vijaya 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.
BPS selection process can be broadly divided into three stages:
- 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 qualified for prelims are eligible for the mains 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 mains exam are called for a personal interview. The total marks allotted is 100 marks, minimum marks to qualify for General candidates is 40%, for SC/ST/OBC – above 35%.
#4 – Final Selection
Both mains exam and personal interview will be considered for the final selection of the candidates. Their weight-age 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.
IBPS is an autonomous recognized body that offers wide services in banking personnel recruitment by conducting exams and conducting training of bank employees in public sector banks. Candidates who are willing to join public sector banks can use the opportunity provided by IBPS by going through the selection process. Proficient candidates will get recruited in public sector banks.
This has been a guide to the Full Form of IBPS, i.e. (Institute of Banking Personnel Selection). Here we discuss the origin, history, services of IBPS, how does it work along with its recruitment process. You may refer to the following articles to learn more about finance –