Full Form of IBPS

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).

History

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.

Full Form of IBPS

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Services

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 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:

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 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 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 Probationary Officers (PO) Exam

#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.

Conclusion

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.

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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 –

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