Not everyone is able to get a job in the banks and that too in the nationalized banks in India. Added to the struggle is the hurdle of the entrance examination and written tests that are conducted on a national basis. Indian Overseas Bank, a Nationalized Bank with pan India presence has entered into a MoU with Manipal Global Education Services Pvt. Ltd (MaGE), Bangalore.
It has undertaken a collaborative step with the Manipal Group of Institutions in recent years. As a result of this initiative, the Indian Overseas Bank-Manipal School of Banking (IOBMSB) has been set up, as a joint collaboration. It is through this school that the bright young graduates are trained professionally for a dynamic career in banking with the Indian Overseas Bank. The IOBMSB is most essentially set-up to provide World Class training in Banking and Finance to prospective candidates aspiring to join Indian Overseas Bank as Probationary Officers. This institution will offer 1 year Post Graduate Diploma in Banking and Finance course.
Post Graduate Diploma in Banking from IOB Manipal School of Banking
- Under this program, the students are trained for a year in the course of Banking and Finance before they can start their career in Banking. The program offered is a full time residential training program for 1 year and is to be pursued in the campus at Bangalore.
- When the students finish the course, they receive their PG Diploma in Banking and are recruited directly into the Indian Overseas Bank as Probationary Officers in the rank of JMG/Scale-I.
- For the year 2013-14 the IOB has announced to intake 480 students as Probationary Officer Trainee
Important Dates:
- Starting date for Online Registration of Application: 10-July-2013
- Last date for Online Registration of Application: 29-July-2013
- Date for payment of Application Fees (online): 10-July till 29-July-2013
- Downloading of call letters: After 19-August-2013
- Tentative date for Online Exam: 01-September-2013
- Tentative date for Interview: September/ October-2013
Details of vacancies: Total 480 Posts (SC-72, ST-36, OBC-129, UR-243 & PWD-14)
Mode of Application:
An online application form is available to be filled up at the official site or through the link provided in the careers page in the Indian Overseas Bank official site (www.iob.in ).
Educational Qualifications:
The candidate should have a Bachelors Degree in any discipline with 60% (55% for SC/ST/PWD) marks from a recognized University, as on 1st of September 2013. The candidates should have received their course completion certificate by the date mentioned.
Age Factor:
Age limit for the candidates is cited to be a minimum of 20 years and a maximum of 28 years as on 1st of September 2013, which can be relaxed for privileged categories (SC?ST/OBC-NCL/PWD) as per rules.
Application Fees: Download Challan
- For SC/ST/PWD: Rs.50
- For all others: Rs.500
- Fee payment will be accepted only in cash and before processing of Online Application through any branch of Indian Overseas Bank. System generated fee payment challan will be used for depositing fee at the branches of Indian Overseas Bank.
Selection Procedure:
- As per the process of admission, an Online Test (Objective Type) would be conducted across multiple centers in India.
- There will be negative marking of 0.25 marks for Online Objective Test
- The selection is done in the mode of Online Test followed by Group Discussion and finally the Interview.
Program Fees:
- The fees for this Course will be Rs. 3.30 lakhs (all inclusive of boarding, Lodging and course fees, other fees, etc.) plus service taxes, as applicable to be paid by the student.
- However, Pursuing training in the Institute (IOBMSB) is virtually cashless because of the option of availing the loan from the Indian Overseas Bank through its Vidya Jyoti Scheme at a highly concessional rate. The candidates can look for details at //www.iob.in/Vidya_Jyothi.aspx
- The loan can be repaid over a period of time, after the students take up the job as probationary officer.
Training Period:
The training period is spread over 12 calendar months, out of which 9 months is training and last 3 months is for Internship Program.
Stipend During the Training:
- During 9 Months of Training: Rs.2500 per month
- During 3 months of Internship: Rs.10000 per month
- After completion of Training Period, the candidates will join the Bank as Probationary Officers in the scale of Rs.14500 – Rs.25700 along with other perks and allowances as per rules.
Probation Period:
- The candidates after completion of Training will join the bank on a Probation Period of 24 months (2 years) from the date of joining.
Service Bond:
- The candidates have to sign a Service Bond for an amount of Rs.2 Lakhs and liquidation of Loan amount at commercial rate of Interest for at least a period of 5 years from the date of joining.
Identity Verification:
During the process of Online Test and Interview, the candidates have to carry a valid Photo ID card (in original and in duplicate) for identity verification along with the call letter in original. Without Identity Proof not candidate will be entertained in the examination hall.
How to Apply: Apply Online Here
- The interested candidates can apply through Online mode only through the website of the Indian Overseas Bank at www.iob.in
- The candidates should ensure that they fulfill all eligibility before applying
- The application form should be filled in accurately and should be verified before submission.
- The data entered can be changed or altered only after the submission of application form till the last date of submission of Application (29-July-2013).
- In case of revision of dates for Online Application, the dates for fee payment will not be changed at any case.
- Any request for change of address/ e-mail id for communication will NOT be entertained.
One must refer to Official Advertisement @ www.iob.in/uploads/CEDocuments/Final%20Manipal%20PO%20Web%20Ad%20English.pdf, and Course Detail @ www.iob.in/uploads/CEDocuments/FINAL%20COURSE%20DETAILS.pdf.