Public sector banks in India are planning to start a new platform for hiring employees from the next year 2011. PSBs will soon come up with a common entrance exam method for the selection of candidates.
With the introduction of CET; banks will be able to reduce the recruitment time and complicated procedure for the hiring of the candidates. The current pattern of recruitment in banks is very difficult and takes about a year to finish, Public Sector banks expect the common entrance test process to get things easier for both employers and candidates by reducing the hardships that candidates go through before and after the exam. It will also serve monetary benefits to both applicants as well as banks, as the former will not need to buy multiple application forms and the later will reduce the advertising cost of hiring.
The common Pan India entrance test should help in reducing hiring time by almost a 1/3 of what it takes currently and should be completed in 3 – 4 months period. Every year there may be 3 to 4 common entrance examinations at regular intervals.
This exam will be conducted by the Institute of Banking Personnel Selection (IBPS) on all India basis and will declare the examination results and give a scorecard to the candidates which will be valid for one and a half year. These exams will be conducted only for hiring candidates in clerical cadre and junior level officers. As per the details from various sources almost 20 public sector banks including Central Bank of India, Union Bank of India and Syndicate Bank have joined this bank recruitment concept.