Banks play an important role in the economic development and growth of any country. It converts savings into investments therefore leading to capital formation and economic development. To run this banking sector workforce is required. Ours is a country with a booming young population seeking employment in reputed organizations. People have always shown interest and an inclination towards joining this sector for work because of the stability, decent salary, growth opportunities, perks and benefits it provides to its employees. Joining a reputed bank and growing within the organization to higher levels is a dream of many Indian youths. People have always seen banking as a lucrative career because of job security and stability associated with the bank jobs.
It offers tremendous growth opportunities; respect in society as there is direct interaction with the customers and at the same time provides a challenging work environment. Moreover nowadays Indian banks are using the best technology and latest software. Nearly 14 lakh people were employed in the scheduled commercial banks in March 2018. However, for joining this industry one needs to clear the examination taken for the selection. Every year lakhs of aspiring candidates appear for these exams for which many of them join coaching classes as well so that they can clear the competition and get a job in this sector to secure their future. There are multiple exams which are conducted every year in the country by various banks and testing agencies. Continue reading after advertisement….
Due to ample benefits and perks provided in the banking domain job the competition in this sector has increased at an exponential pace. The banking sector is being considered as one of the greatest employment generating sector in India. Important banks such as Reserve Bank of India, State Bank of India and NABARD hold their own separate competitive exams every year. Besides this, recruitment for other public banks is done through IBPS. It recruits candidates for the post of assistant/clerk and officer grade through different competitive exams. For Regional Rural banks IBPS conduct various exams. The governing body for IBPS includes nominees from government organizations which include the Reserve Bank of India, Indian Institute of Technology Mumbai, Indian institute of Banking and Finance, National Institute of Bank Management, Indian Banks’ Association and the government owned banks.
A detailed description the banking exams are as follows:
IBPS– The full form of it is Institute of Banking Personnel Selection. It is a government owned agency which comes under the jurisdiction of Ministry of Finance, Government of India which was formed in the year 1975. The main purpose for starting this was to encourage recruitment and placement of young undergraduates, postgraduates and doctorates in banks owned by government in India. IBPS provides organized, systematic and standardized assessments and results services to the organization for recruitment of proficient candidates.
Indian banks got Nationalized in the year 1969 after which the banks felt the need for expansion of their branch network so that their customers can easily access them but for this expansion they required more workforce. However selecting candidate through methods like advertising seemed to be unsatisfactory therefore the banks took help from the National Institute of Bank Management for designing of a selection process for employing capable and skilled candidates. As a result Personnel Selection Services named unit came into force for handling such projects. After few years this PSS was converted into IBPS.
Initially candidates have to appear for multiple bank exams conducted by various banks for their vacancies but from 2012 the pattern of selection process changed. IBPS is responsible for conducting four different recruitment processes that are:
- IBPS PO exam (CWE PO/MT) – For the appointment of Probationary Officers IBPS conducts this exam. On the basis of the rank of the candidate on the IBPS exam the banks recruit them. The IBPS releases information related to the several available vacancies in various public banks, application submission and exam dates, age limit and other details and information related with the job. To apply for the vacancies the aspirants can do it online. First a prelim exam is conducted followed by a main exam which is given by candidates who qualifies the prelim exam. After this an interview is conducted for the final selections. The selected Pos have to serve probation for two years. During this time the bank assigns them different tasks which they are expected to perform in order to understand the functioning of the bank and its culture. The Pos are involved in managerial tasks and are responsible for supervising the clerical work in the bank. The PO exam is conducted mostly in September or October once in a year, which is followed by main exams after a period of one month of prelim exams. Candidates who qualify the main exams are then called for a face to face interview round. In this round candidate’s confidence, body language, communication skills and presence of mind are being evaluated by expert or experienced professionals. To qualify for the interview phase the candidate must score 40% marks. The reserved category candidates are required to score 35% marks for qualifying. The aspirants who get selected for the job get their allotment for the job based on their merit and preference.
- IBPS SO exam (CWE SO): The IBPS SO exam is for the selection of Specialist officers who comes under scale 1 officer category. The syllabus for IBPS SO exam is different for different posts of the specialists’ officer. Applicant’s field of specialization is the main area of focus and questions based on professional knowledge are given for this exam. This exam is conducted to recruit people for various domains like IT, finance, HR etc. The aspirants have to give three exams i.e. prelims, mains which is followed by the interview round which is the final selection round. The syllabus for prelims, mains and interview round have significant differences in the pattern of the questions and subjects included. Once the candidate clears all the three stages then he is given job allotment based on his area of specialization and depending on the vacancies. In case two deserving candidates score same marks or they have equal merit in IBPS SO exam then age will be considered i.e. the person who is elder will be given preference over the younger person.
- IBPS Clerk exam (CWE Clerical): This is conducted to recruit people for the clerical post in the national public sector banks. Any candidate who is willing to apply for the IBPS clerk exam should carefully read and understand about the selection process and then accordingly complete the registration details. The process for recruitment is as follows:
- Preliminary Exam: It consist of objective questions for which the candidates get one hour time to complete the paper. It tests the abilities of appearing candidates in English Language, Numerical ability and Reasoning.
- Main Exam : For this exam questions based on Reasoning, Computer Aptitude
- Provisional Allotment
Continue reading after advertisement….
The first point of contact for customers in any bank is the clerical staff therefore this posts is an important one. The major work of the clerical staff or a person in a similar position is to manage various banking tasks and act as a Single Window Operator.
IBPS also conducts exam for RRB officer scale I generally in month of November with a main purpose of selecting candidates for performing day to day operations of a branch. State bank of India which is the largest Indian bank also conducts entrance tests of its own like SBI PO/SO/Clerk in which they mainly test for Reasoning ability, quantitative aptitude, English language, general awareness, computer aptitude etc. with varied difficulty levels. Some exams may have a personal interview round to clear. Millions of students appear in this exams notification of which can be found in bank website or employment dailies. National bank of agricultural and rural development (NABARD) conducts test for selection of grade A and B officers through an online test and personal interview. Grade A is managerial and grade B is assistant managerial recruitment. NABARD development assistant exam is a separate one which is conducted for clerical and assistant cadre positions. Reserve bank of India which is the central bank conducts tests for office assistant and Grade B officer which is also more or less the same pattern as discussed above.
Private Banks which are growing at a fast pace and slowly catching up with their public counterparts, depending on the requirements and openings available may conduct direct interviews of candidates depending upon their skills, qualification and degree. Students looking for a management degree in banking can look to National institute of bank management where many banks gather during the placements to recruit management trainees for various openings. NIBM accepts CAT/MAT/CMAT scores and then conducts a group discussion and personal interview for eligible candidates. This is a full time residential MBA degree program which is conducted in NIBM campus in Pune city of Maharashtra state. Continue reading after advertisement….
Although each exam depending on the recruitment position has varied difficulty levels and eligibility criteria but the thing common in all of them is intense competition. Preparation is the key to crack any stages of the examinations discussed above as hundreds of candidates are fighting for a single seat, chances of selection are bleak if someone sits unprepared. Difficulty of the prelims, mains and interview cannot be said to have a difficult standard compared to other entrance exams like CAT/NEET and IIT JEE but accuracy is very much required with speed someone is able to solve the questions. More practice within defined time and in test like conditions will help the candidate to outperform others and stay ahead of competition. Joining a reputed coaching class is advisable but self-preparation with the help of questions banks and guides also has its own importance.
It is important to solve previous year papers for the examination one is appearing and that too within prescribed time limit to have a fair idea of the test day. The more mock tests the candidate gives the more it helps to build confidence which is of prime importance in the test. For the personal interview section the candidate can practice well at the coaching center enrolled or can also practice at their own with a family member or friend.
Last but not the least the aspirant need to regularly check career portals, job websites and employment newspapers so that they do not miss the notification of any banking exam in the year they want to appear for the same. Once the student is fully prepared they should write all the exams conducted in that year and do not miss a single chance. A standard level of preparation will help the student to tackle most of the exams as the patterns are more or less same.