IBPS: Banks Need to Recruit 7.5 Lakh People in 5 Years

The IBPS (Institute of Banking Personnel Selection) is a bridge between the banks and employees to fulfill the requirements of banks. Mr. Balachandran, the Director of IBPS says that in the next five years banks have to recruit about 7.5 lakh people for their operations. This means that in the near future, about 60% of the existing bank staff will be retiring and only 40% of the staff will be existing. This retirement space needs to be filled in.

Bank institute

IBPS has also plans to bring in kind of common admission test like CAT or GMAT. Through which the Institute can tell the banks that they have qualified candidates who can compete on the basis of scores. These scores will be valid for one year. During this time period, banks can attract suitable candidates based on their scores as per their minimum eligible criteria.

Banking watch

Difference Between BSRB and IBPS Recruitment Process

BSRB (Banking Service Recruitment Board) was doing recruitment for all India selection. This was for a group of banks in particular region. There will be a sponsor bank to BSRB and other participating banks. However, this was unsatisfactory for both banks and the candidates. It was like a lottery – candidates will apply for a couple of vacancies in the banks but candidates will not know which bank they are applying for. All the allotment of candidates to the banks were done by BSRB which left the banks with no clear about about who will be joining them.

IBPS (Bridge for Career in Banking)

There is no such above inconveniences in IBPS both from banks viewpoint and candidates perspective. As per the IBPS’s statistics, last year alone about 12 million candidates have registered for bank exams. Out of which 8 million people have appeared for the exams for vacancies of 70,000 positions. Among these numbers, about 48,000 number of jobs were from public sector banks alone.

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IBPS recruits candidates for various vacancies in banks and various public sectors. For any immediate recruitment through IBPS, forthcoming training information and other updates from IBPS – visit their website here at www.ibps.in for more details. This Institute acts as a career bridge for candidates who has the desire to build a career in banking sector.