Here’s a big opportunity for you to land a job as an Assistant Branch Manager at an India Post Payments Bank!
The Department of Posts has announced 650 vacancies for the post of Assistant Manager (Territory) across the 650 branches of India Post Payments Bank which will be established by September, 2017 across the country.
The India Post Payments Bank, which has 100% Government equity, is headquartered in Delhi and will start operating in 2017. The India Post Payments Bank recruitment has already begun with the release of the official notification by the Department of Posts. Although the number of seats are less and the competition is high, this is a great opportunity for young graduates to kick start their careers in India Post Payments Bank.
India Post Payments Bank has been opened with the objective of increasing financial inclusion across the country. The bank is mainly targeted at people with low income, small businesses, migrant laborers and other unorganized sectors who mainly transact in cash and offer them services with a low cost of transaction.
Although India Post Payments Bank has limited services as compared to other banks, it aims to provide a wide range of services such as payments, direct benefit transfers and sale of third party products such as mutual funds and insurance.
Following are some of the services offered by the India Post Payments Bank:
- India Post Payments Banks can take Savings and Current account deposits. However, they cannot offer loans, credit cards, NRI Accounts, Time deposits like RD & FD
- India Post Payments Bank are allowed to issue Debit cards, ATM cards, Forex cards (for travelers) and services, Locker facilities and provide foreign shareholding as per the rules of FDI in private sector banks in India
- The India Post Payments Bank will also provide services such as cheque less transactions and remittances through mobile phones, cashless purchases, automatic bill payment and card acceptance mechanisms
- The initial minimum balance per customer is restricted to 1 lakh rupees in India Post Payments Bank. The bank is allowed to pay interest on these balances like any other savings bank account
The following article will equip you with all the important details of the India Post Payments Bank recruitment, such as the number of vacancies, job specifications, selection procedure, exam date and pattern, job profile and responsibilities of an India Post Payments Bank Assistant Manager.
India Post Payments Bank Officer Scale 1 Vacancies
|Post||Grade||Scale||Vacancies (Category wise)*|
|Assistant Manager (Territory)||JMGS||I||Gen||OBC||SC||ST||Total||OC||HI||VI|
*The number of vacancies is provisional and may vary according to actual requirement of India Post Payments Bank.
India Post Payments Bank Officer Scale 1 Job specifications
Age limit: 20-30 years*
*should be born not before 2/09/1986 and not later than 01/09/1996
Educational qualification: Graduate from University/Institution/Board recognized by Government of India of approved by a Government regulatory body.
Candidates who have experience of a business correspondent or in postal services, rural banking or sales of financial products are also eligible.
India Post Payments Bank Officer Scale 1 Selection Procedure
Candidates wanting to land a job at an India Post Payments Bank have to go through the following selection procedure:
IPPB Preliminary Examination –> IPPB Main Examination –> IPPB Personal Interview
India Post Payments Bank Officer Scale 1 Exam Dates
The India Post Payments Bank Office Scale 1 online examination will tentatively be held in December, 2016/ January 2017.
India Post Payments Bank Officer Scale 1 Exam Pattern
India Post Payments Bank Officer Scale 1 Prelims Exam Pattern
|Sr. No||Name of the section||Number of questions||Maximum Marks||Duration|
|1||English Language||30||30||Composite time of 1 hour|
Candidates have to qualify in each of the sections by securing cut off marks to be decided by India Post Payments Bank.
India Post Payments Bank Officer Scale 1 Mains Exam Pattern
|Sr. No||Name of the section||Number of questions||Maximum marks||Medium of exam||Duration|
|1||Reasoning||50||50||English & Hindi||40 minutes|
|2||English Language||40||40||English||30 minutes|
|3||Computer Knowledge||20||20||English & Hindi||10 minutes|
|4||General Awareness||40||40||English & Hindi||20 minutes|
|5||Quantitative Aptitude||50||50||English & Hindi||40 minutes|
The selected candidates will be called for a Personal Interview. The Personal Interview is conducted at select centers and carries a total of 100 marks. The candidates are required to score more than 40% to qualify the interview (35% for SC/ST/OBC/PwD candidates).
The final India Post Payments Bank selection is done taking into consideration the marks obtained in the India Post Payments Bank Mains exam and the personal interview.
India Post Payments Bank Officer Scale 1 Job Profile and Responsibilities
Post recruitment, the India Post Payments Bank Probationary Officers will undergo probation for a period of 2 years. During the probation, the candidates will be given intensive training.
Towards the end of their probation period, the candidates will be subject to a screening to confirm their posts as India Post Payments Bank Assistant Branch Managers.
The candidates are then posted or transferred to other roles at the discretion of India Post Payments Bank to various branches from time to time and will be given emoluments such as travel allowance, dearness allowances, city compensatory allowance, leaves, salary as per the rules of India Post Payments Bank applicable at the time of their appointment.
Responsibilities of an India Post Payments Bank Scale 1 Officer:
- Assistant Branch Managers at India Post Payments Banks are responsible for the smooth running of their assigned branch every day. They’re supposed to manage the day to day operations
- They need to ensure the bank is running as per the rules and regulations set by the RBI and steer clear of any kind of violation of the regulations
- They are in charge of sales of the third party products such as mutual funds and insurance and ensure profitability without offering loans
- The Assistant Managers also need to coordinate the various customer service points and with the business correspondents
- They need to assist the Bank Manager to prepare audit reports periodically
India Post Payments Bank Officer Scale 1 Salary
Following are the emoluments received by an India Post Payments Bank Officer Scale 1:
|Scale||Pay Scale||Total Monthly CTC (Approx.)*|
|JMGS-I||23,700 – 42,020||65,000|
*this is inclusive of Dearness Allowance, City Compensatory Allowance, and other allowances.
The India Post Payments Bank Officers will also receive Performance Pay as per the criteria defined by the India Post Payments Bank from time to time and are also entitled to retirement and terminal benefits as per India Post Payments Bank policy.
All in all, this is a big chance for bank aspirants looking for a stable job with good salary and career growth.