At the moment, the non-public banks in India tend not to utilize the expertise of IBPS for filling vacant banking positions like the ones from clerks, probationary officers and specialist officers. However, over the last 2 yrs, a trend has emerged when the private financial institutions are showing fascination with those candidates who have been able to clear the Mdu result and updates and possess a legitimate score.
The recent advertisement for clerical and probationary officer recruitment issued by Federal Bank mentions the necessity for the candidates to demonstrate a real IBPS scorecard. The card is valid exclusively for per year through the date of exam clearance.
Before 2012 recruitments, Federal used to conduct its own recruitment exam. Aside from the scorecard, the candidate needs to have a minimum of 50 percent marks in non-Science streams and no less than 55 percent marks in Science stream.
Another example will be the recruitment announcement produced by the Industrial Credit and Investment Corporation of India (ICICI) bank for November 2012 and February 2013 probationary positions citing the IBPS score as one of your primary requirements aside from a bachelor's degree in almost any subject coming from a recognized university with a minimum of 55 percent marks.
So the reality is that the private banks are utilizing the IBPS score for recruitment, but not directly. They are not affiliated to the third-party institution and using the scorecard functions as being a 'filtering' strategy to attract only capable candidates.
Now you know this, it really is good to know about some other important things associated with jobs from the private banking institutions.
1) There is not any quota system with them, which means they value talent only.
2) Since a fundamental graduation degree is the primary criteria, most of the banks rely on campus recruitment. It can be only during the last couple of years that they did start to offer recruitment opportunities through direct walk-in or through public notifications in main newspapers.
3) Private bank job vacancies are under the public banks. To put it differently, your odds of getting through in public places financial institutions tend to be more than in the non-public ones.
4) Sometimes they prefer candidates with MBA degree. When you have one, try the banking field.
5) If salary and growth matter for you, the non-public ones win definitely. To begin with, you will find no fixed salary packages. All this is determined by the ability of your candidate. Secondly, it is usually said that operating in public banks leads to stagnation after couple of years since the growth opportunities are less and available only after serving fixed years. This is not the truth with all the private institutions. Growth is proportional to perseverance shown by any candidate.