Institute of Banking Personnel Selection
| Acronym | IBPS |
|---|---|
| Year started | 1975 |
The Institute of Banking Personnel Selection also known as IBPS, is a recruitment body that was started with an aim to encourage the recruitment and placement of young graduates in public sector banks in India (except SBI). It also provides standardized systems for assessment and result processing services to organizations.
After their nationalization in India in 1969, Indian banks needed to expand their branch network across the country so that they were more accessible to their customers. This required more staff but recruitment through methods such as advertising were unsatisfactory. Thus, the banks asked the National Institute of Bank Management (NIBM) to design a selection testing process through which they could hire proficient candidates. In 1984, the NIBM department that handled the test was converted into the IBPS.
IBPS currently functions as an autonomous body that is mainly engaged in conducting competitive exams for recruitment to clerical and officers' posts in the banking sector.
Earlier, candidates had to write multiple exams conducted by each bank for their vacancies. But from 2012, the Recruitment process has been changed. Now IBPS conducts five exams every year for banking sector recruitment. There are two exams for probationary officers, two for clerical levels and one for specialist officers (agricultural, law, technical).
IBPS is governed by a board that includes nominees from government organisations such as the Reserve Bank of India, Ministry of Finance Government of India, Indian Institute of Technology Mumbai, Indian Institute of Banking and Finance, National Institute of Bank Management, Indian Banks' Association and the public sector banks.
IBPS offers its services to banks in the public and private sectors, regional rural banks, and foreign banks. It also serves other financial institutions, including co-operative banks, insurance companies, academic institutions, and both private- and state-owned companies.
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