Wednesday, December 8, 2010

Now, a pan-India common test for aspiring bankers | Common Entrance Test for Bank Exams from 2011 |

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Come 2011, aspiring bankers will be saved the bother of appearing for a test each time a public sector bank wants to go in for recruitment. The need to bolster their bench strength by the thousands every year over the next few years has prompted these banks to join forces and work out a plan to hold a pan-India common test.

Upon clearing the common test, which will be administered by the Institute of Banking Personnel Selection (IBPS) on behalf of PSBs (public sector banks), all that the candidates have to do is respond to individual bank's advertisements to appear for interview.
Twenty PSBs will be part of this joint exercise which will enable them tap the pool of candidates who have been successful in the common test, for recruitment. The State Bank group, comprising State Bank of India and its five associate banks, however, will plough a lonely furrow on the recruitment front.

PERIODICITY OF TEST

According to IBPS officials, while the pan-India common test for the clerical cadre will be conducted four times a year, for probationary officers it will be held twice. The scorecard issued to successful candidates is likely to be valid for one to one and- a-half years. During the validity period, the eligible candidates can respond to bank advertisements for interviews.
"Once a pool of eligible candidates is created, banks can recruit on tap," said Dr K. Ramakrishnan, Chief Executive, Indian Banks' Association.

The biggest benefit for the PSBs will be that the time taken for recruitment will fall by almost a third. Currently, banks take almost a year to complete the recruitment process - from the test stage to sending the final selection letter.

Down the line, IBPS also plans to conduct pan-India tests for specialist officers in the fields of agriculture, information technology, accountancy, and law.

The urgency to recruit in large numbers is underscored by the fact that the State-owned banks will lose close to half their employees to retirement over the next decade.
Management consulting firm McKinsey said in its recent report that compounded by sub-optimal succession planning and high attrition at junior levels, this represents a massive recruitment challenge - up to seven lakh people - especially in the context of the changing roles and skill requirements.

Pointing out that PSBs have to induct new talent in large numbers, Mr R. Gopalan, Secretary (Financial Services), Ministry of Finance, in his recent address at the IBA's Bankers' Conference, said the ability of these banks to rise to the expectations of the nation over the next decade depends crucially on the industry being able to streamline its human resources.

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Content Courtesy www.thehindubusinessline.com

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