IBPS AFO Full Form: Know What is AFO Salary, Job Profile and Other Details

IBPS AFO Full Form: 

The full form of AFO is Agricultural Field Officer. It is a crucial position under the IBPS Specialist Officer (SO) recruitment process. IBPS conducts the AFO examination to select eligible candidates for agricultural banking roles in various public sector banks across India.

The primary responsibilities of an IBPS AFO include processing agricultural loans, assisting farmers with financial schemes, and promoting banking services in rural areas. The role is essential for strengthening financial inclusion and ensuring the proper implementation of government-backed agricultural loan programs.

IBPS AFO Job Profile

The Agricultural Field Officer (Scale I) and Specialist Officer (SO) positions at IBPS primarily focus on promoting financial products and services to farmers and landlords in rural areas. The key responsibilities of an IBPS AFO include:

• Disbursing loans to farmers for agricultural purposes.
• Examining and verifying agricultural loan applications.
• Increasing rural financing and ensuring agricultural credit accessibility.
• Investigating crop failure situations and assessing risks.
• Spreading awareness about banking services and agricultural benefits among farmers.

IBPS AFO Salary

The IBPS AFO compensation is based on Scale 1. The monthly salary for an IBPS SO AFO is INR 23,700, which amounts to an estimated annual package of INR 284,400. There are opportunities for salary increments, along with additional perks and benefits.

IBPS AFO Perks and Allowances

Applicants selected for the IBPS SO AFO recruitment receive multiple benefits and privileges. Below is a list of IBPS AFO salary components and allowances:

IBPS AFO Full Form – Functions

IBPS AFO officers play a crucial role in agricultural banking. Their primary functions include:

Loan Processing and Approval:

• Evaluating loan applications for agricultural projects.
• Assessing the financial viability of proposed farming activities.

Risk Assessment:

• Conducting risk analysis for agricultural loans.
• Ensuring the financial security of banks by evaluating applicants' creditworthiness.

Promotion of Agricultural Schemes:

• Disseminating information about agricultural policies and government initiatives.
• Assisting farmers in availing benefits from government-sponsored agricultural schemes.

Field Inspections:

• Conducting site visits to verify loan-related information.
• Ensuring that allocated funds are used appropriately.

Advisory Services:

• Providing financial and technical guidance to farmers.
• Encouraging the adoption of modern and sustainable farming techniques.

Documentation and Record Keeping:

• Maintaining accurate records of agricultural loans and transactions.
• Ensuring compliance with banking regulations and policies.

Monitoring and Recovery:

• Tracking the progress of agricultural projects funded by banks.
• Implementing loan recovery strategies in case of payment defaults.

IBPS AFO Full Form – Significance

The IBPS AFO role holds significant importance in the agricultural and banking sectors. Some of the key reasons why this position is essential include:

Specialized Knowledge:

• AFOs have expertise in agriculture and banking, helping to address the specific needs of farmers.

Rural Development:

• By facilitating loans and providing advisory services, AFOs contribute to the development of rural economies.

Financial Inclusion:

• The IBPS AFO helps in extending banking services to rural areas, enhancing financial literacy and access to credit.

Government Initiatives:

• AFOs play a crucial role in implementing agricultural policies and schemes aimed at benefiting farmers.

Risk Management:

• Their expertise helps banks in assessing and mitigating risks associated with agricultural financing.

Contribution to the Economy:

• Since agriculture is a vital sector, AFOs help drive economic growth by supporting sustainable agricultural activities.

The IBPS AFO role is not just a career opportunity but also a chance to make a significant impact in the agricultural and banking sectors. Those who qualify for this role will play an integral part in advancing agricultural financing and rural development in India.