What is Banking PO
Banking PO
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Banking in India has a rich history dating back to the late 18th century. It began with the establishment of banks like the Bank of Hindustan in 1770 and the General Bank of India in 1786. One of the oldest and largest banks in India is the State Bank of India, which originated as the Bank of Calcutta in 1806.
The Indian banking sector can be broadly classified into scheduled banks and non-scheduled banks. Scheduled banks are those included in the Second Schedule to the Reserve Bank of India Act, of 1934. They consist of Scheduled Commercial Banks and Scheduled Co-operative Banks. Scheduled Co-operative Banks further include Scheduled State Co-operative Banks and Scheduled Urban Cooperative Banks.
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Scheduled Commercial Banks in India are categorized into five different groups based on their ownership and/or nature of the operation. These groups are:
- State Bank of India and its Associates
- Nationalised Banks
- Private Sector Banks
- Foreign Banks
- Regional Rural Banks
Under the bank group-wise classification, IDBI Bank Ltd. is included in the category of Nationalised Banks.
The banking sector in India has witnessed significant growth and development over the years, playing a crucial role in the country’s economy. It continues to evolve with advancements in technology, innovative financial products, and improved banking services to cater to the diverse needs of customers across the nation.
Employees in Bank Industry
Career as a Bank Probationary Officer (PO)
A Probationary Officer post is the point of entry to the coveted managerial positions in the banking industry. A PO starts as a trainee officer in the Junior Management Grade Scale (JMGS) of the bank and can rise to the highest levels, becoming a General Manager, an Executive Director, or even the Chairman of the Bank.
Career as a Bank Specialist Officer (SO)
Banks also conduct recruitment exams for Specialist Officers to man their credit, legal, human resources, marketing, systems, and other departments which have openings for candidates having requisite professional qualifications in agriculture, engineering, chartered accountancy, law, or a degree of MBA, MCA, etc.
Career as a Clerk
Major Recruiters of Public Sector Banks
IBPS
Public Sector Banks namely Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab & Sind Bank, Punjab National Bank, Syndicate Bank, UCO Bank, United Bank of India, Union Bank of India, Vijaya Bank & IDBI.Â
SBI
The State Bank of India (SBI) & 05 Associate Banks of SBI namely State Bank of Bikaner & Jaipur, State Bank of Hyderabad, Stat Bank of Mysore, State Bank of Patiala. State Bank of Travancore.
RBI & NABARD
RBI Officers & Assistant Grades. NABARD Officers & Assistant Grades.
Recruitments through IBPS
-CWE PROBATIONARY OFFICER/MT: Recruitment of Probationary Officers or Management Trainees. It is a three tier recruitment process consisting of a Preliminary exam of 100 marks of 60 minutes duration, followed by a main exam for shortlisted candidates, of 200 marks with duration of 120 minutes followed by an Interview.Â
-CWE Clerk: Recruitment in Clerical Cadre. It is a 3-tier process following the same pattern as of PO/MT exam. -CWE Specialist Officer: Recruitment of IT, LAW, engineering, marketing, and other professionals. It is a two-tier recruitment process consisting of an online written exam followed by an interview.Â
-CWE RRB Officers and Assistants: Recruitment of Officers & Office Assistants to Regional Rural Banks (RRBs) governed by NABARD. It is also a 2-tier recruitment process with a main exam of 200 marks followed by an interview of shortlisted candidates.