India Post Payments Bank has recently come out a notification to recruit Assistant Managers (Territory) for its various offices across the country. In the midst of the busy examination season, the notification adds to the log list of examination that the candidates are going to take in the months to come. The number of posts advertised is 650 and the bank is going to open around 650 branches across the country by September 2016. IBPS PO is round the corner and candidates are wondering what to do regarding this new advertisement by a new and mysterious so far organization. In this article, we are going to help you in taking a decision to go for the job with full throttle as it is a golden opportunity for lakhs of you to land a job with the Central Government; yes IPPB is a public limited company under the Department of Posts, Government of India.
IPPB PO 2016: Why you should not miss it?
All of you must be wondering regarding the new organization as it is a payments bank and there is very little you all know regarding the organization. Let us find out the information we have on the organization and we shall try to use the same to help all of you take an informed decision regarding going for it or not. After all, you have to shell out 700 bucks to sit for the examination and you should dig a bit deeper before parting with your hard earned money.
- It’s a government job: Yes, that is the most compelling reason you should go for this job. India Post Payments Bank is a wholly owned subsidiary of the India Post which comes under the administrative control of the Department of Posts, Government of India. You are entering into a government job by going for IPPB PO unlike IBPS PO jobs where you are going to be a part of a Public Sector Bank which has majority shareholding by the government only whereas IPPB has 100 percent government stake in it. What more one can ask for?
- A Salary you can depend upon: The basic salary of your post will be around Rs 65000 per month in a category A city and if you compare with SSC jobs, it is definitely better since in that, you are not entitled for performance related pay except a few departments and you are not even entitled for lease accommodation in cities such as Delhi or Mumbai and everybody knows how difficult it is to get government quarters in these locations. You have to make your own arrangement in these cities and anybody can guess the rate of rent in these places. Most of you are wondering about your in hand salary in IPPB PO since house lease constitutes a large part but even for SSC jobs, you need to make your own arrangements and that will eat a major part of your salary if you want a comfortable accommodation.
- Fast chances of growth: This is a new bank and that is why, the promotion avenues are expected to be faster than other banks which already have people placed at various positions. Once you join the bank and if you are a performer, you are sure to get rewarded for that as well. It is also mentioned in the advertisement that you will be entitled for performance related pay and it is never given in case of PSBs in the starting level apart from some incentive schemes based on some campaigns launched from time to time. So, get ready to perform and achieve as much as you can with the new kid on the block, the IPPB.
- Posting likely in cities or metro areas: Though most of you must be thinking that you will get posting in rural areas because of majority of post offices being in rural areas, the case may not be so. Since IPPB is going to start operations from next year onwards, the first few years you are going to get postings in urban areas or in the worst possible scenario, the district places. Hence, do not worry about posting in rural or remote areas of the country and cheer up for being able to enjoy the coveted city life all of you crave for.
- No Loan, no NPA: This must be the biggest relief of the job. Loans are the biggest headaches in the banking system these days. You cannot ignore this aspect of banking but at the same time, if a loan becomes NPA, you are going to be liable for that. In payment bank, no loan is going to be sanctioned and you only have to sell credit products as third party products with tie ups between IPPB and banks. And transactions are limited upto a limit of Rs 1 lakh and hence, no stress of high value transactions. Your life will not be as miserable as most of the young bank PO officers across the country.
Indian Post Payments Bank is a great opportunity for all of you and in certain aspects, it is better than IBPS PO and even SBI PO. It is not always salary that decides the merit of a job and once you join a job, you will understand this very well. Life as a bank PO is stressful and as SBI PO, it is more and IPPB is going to be less stressful and less headache because of limited amount in transactions and no loans to be disbursed by it. Grab it with both hands and make the most of it.
All the best !!