The Full Form of ‘IBPS’ in Exam is ‘Institute of Banking personnel selection’.
Full Form of IBPS
The full form of IBPS in exam is Institute of Banking personnel selection. It is an independent body which was formed with the aim of recruiting and evaluating the personnel for various posts in the banking sector across India. It conducts common recruitment processes (CRPs) for various public sector banks, regional rural banks and cooperative banks.
IBPS is a self-governed academic and research oriented institute, which not only focuses on recruitment but also provides consultation to various public sector banks, state co-operative banks and select financial institutions on their staffing requirements. In addition to that it also works towards providing training programs to candidates selected for various banking jobs.
IBPS was established in 1975 as Personnel Selection Services (PSS). However, in 1984 it changed its name to Institute of Banking Personnel Selection (IBPS). This change was made because IBPS wanted to expand its scope beyond just selection services and focus on research, training and consultancy as well.
The key functions of IBPS are:
1. To conduct online/offline examinations or interviews for recruitments in participating organizations.
2. Conducting Research Projects related to employee performance assessment and other related areas like training needs assessment etc., so that participating organizations can benefit from these findings
3. To provide technical support/consultancy services to participating organizations on matters related to recruitment, staff development, grievance handling etc.,
4. To facilitate capacity building programs by conducting seminars/workshops/training programs for existing employees as well as new recruits of the participating organizations
5. To develop specialized tests or questionnaires that can be used by the participating organisations during their recruitment process
6. To develop short term or long term educational programs that can help the employees of these organisations enhance their skills or have an overall holistic knowledge about banking & finance industry
The main objective of IBPS is to provide fair opportunity for all aspiring candidates who wish to join any bank or financial institution by assessing them on the basis of their aptitude & skill sets rather than their qualifications & experience alone .It ensures transparency in selection process & helps organisations hire quality people quickly at a much lower cost compared to traditional hiring methods .
Over the years ,the importance and popularity of IBPS has grown significantly among both aspirants and employers alike ,making it one if not the most sought after job provider in India .Today ,it has become a one stop shop for all banking & financial sector job seekers with nearly 25 million applicants taking part in its exams every year . All this makes it clear why “Institute Of Banking Personnel Selection” is now commonly referred as “IBPS” throughout India & abroad .
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