Recruitment, selection, assessment and promotion are certain processes that need a professional approach with fair amount of transparency and competitiveness and high level of accuracy, speed and confidentiality. Financial sector in India is growing at a fast pace and the organizations (banks and other financial organizations) are achieving and eying unprecedented and sky-high growth. In such a scenario, they cannot afford to invest too much time in hiring employees with required levels of competitiveness, ability and ambition; although it is also widely accepted that Human Resource is the biggest asset of any organization. This is where the role of IBPS comes into play.
The Institute of Banking Personnel Selection (IBPS) is an autonomous body set up with the vision to evolve and implement world class processes and systems of assessment and selection of personnel for various client organizations, conduct relevant supportive research and publicise the findings.
IBPS has acquired a unique distinction of being a premier national level Institute for employment testing, admission testing, training and research; related to selection and management of human resources. It has been rendering assistance to the financial sector in the fields of employees' selection, promotion and placement.
History of IBPS
The Institute dates back to the year 1975 when it was established as Personnel Selection Services (PSS), a unit of National Institute of Bank Management (NIBM) with an objective to develop an unbiased and efficient system for recruitment, promotion and placement services. Initially, the Institute was meant to provide these services to the banking industry, which was later also extended to other non-banking sectors. In 1984, PSS became an independent entity –Institute of Banking Personnel Selection (IBPS) at the behest of Reserve Bank of India (RBI) and Public Sector Banks. The first Chairman of its Governing Board was Dr Manmohan Singh, the then Governor of RBI.
IBPS is an autonomous body; registered as a Public Trust under the Bombay Public Trust Act of 1950; a Scientific and Industrial Research Organization by the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India and a centre for providing PhD in Management affiliated to the SNDT University.
The Institute’s objective is to “promote professionalism in Talent Acquisition through selection of competent and efficient cadres of personnel from the clerical to the executive tier, promotion and placement of human capital at various tiers within the organizations, carrying out research in the area of human resource management, psychometrics, measurement and evaluation of competencies and conducting seminars, workshops and training programmes in the areas related to its activities.”
Governing Board of IBPS
The Governing Board of IBPS consists of nominees from Reserve Bank of India, Ministry of Finance Government of India, National Institute of Bank Management, representatives of Public Sector Banks, Insurance sector and academics. The matters related to policy and affairs of the Institute are vested in the Governing Board. MV Nair, Chairman & Managing Director of Union Bank of India is the present Chairman of IBPS.
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