Full Form of IBPS – Institute of Banking Personnel Selection
The Full form of IBPS is Institute of Banking Personnel Selection. The Institute of Banking Personnel Selection is a government recruitment body which was started with a motive 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 is established in 1975, but it became an independent recognized body in 1984 with the permission of Reserve Bank of India (RBI). In 2011 it started conducting 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 situated in Mumbai (Maharashtra).
IBPS established in 1975 and it became an independent government recognized body with the Reserve Bank of India (RBI) permission. Earlier it is called as 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 programme 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’s) Regional Rural Banks.
- Setting up Assessment centres for upgrading the skills of the staff.
- Nominates experts who are expertise in the banking industry.
How Does IBPS Work?
IBPS works through Governing board which is set up to regulate the IBPS body and to govern its administrative activities regularly.
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
Eligibility of the candidates to write IBPS exams are: 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 they are -English language, quantitative aptitude, 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 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 mains exam. It has both objective and descriptive paper. 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 mains exam are called for a personal interview. 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. Final merit list will be released after the interview process, then candidates will be offered to join letter in the bank.
IBPS is an autonomous recognized body offers wide services in the field of banking personnel recruitment by conducting exams, 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 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 –