INSTITUTE OF BANKING PERSONNEL SELECTION
IBPS is a common term that is quite prevalent among the aspirants preparing for banking exams. But just knowing the term isn’t enough, if you are planning to make a career in the banking field and at some point of time you will be faced with this question and therefore you should be having complete necessary information.
IBPS stands for Institute of Banking Personnel and Selection. It is a recruitment body / organisation which was formulated with the objective of recruiting the best eligible graduates in all the public sector banks (PSBs) in India, except SBI. SBI conducts a different examination altogether which is meant only for filling up the vacancies in SBI.
IBPS is also responsible for providing the platform for assessments and processing of results for various organisations that take part in the examination conducted through IBPS. The most popular examinations are – IBPS CWE MT , IBPS CWE for CLERK.
CWE stands for Common Written Examination; MT stands for – Management Trainee ( PO).
ORIGIN OF IBPS
All the banks that existed way back in India in the early 90s, were nationalized in 1969 and soon after that they needed to expand their network and thus the number of branches, which required more staff which could be fulfilled only through fresh recruitment drives and doing that on a large scale needed a proper framework and an effective selection process. Thus, the ‘National Institute of Bank Management (NIBM)’ the only leading organisation that existed then, was asked to do so, which was then converted into IBPS in 1984.
SERVICES of IBPS
IBPS or Institute of Banking Personnel and Selection provides its services to all kinds of banks – PUBLIC SECTOR BANKS
– PRIVATE SECTOR BANKS
– REGIONAL RURAL BANKS
– FOREIGN BANKS
It also extends its services to co-operative banks, insurance companies, academic institutions, and both private- and state-owned companies.