Bank Probationary Officer Career Information
The entry-level position, in the officer category, in Public Sector Banks is that of a Probationary Officer. These officers work as probationers for the first two years and gain experience in various type of banking operations e.g. loans, savings and current accounts, forex operations etc. Bank Probationary Officers are selected on the basis of a written test and an interview conducted by Banking Service Recruitment Board.
What a Bank Probationary Officer does
The Probationary Officers usually undergo a two years probation period during which they perform various banking functions such as loans, foreign exchange, saving and current accounts. Most of these officers reach senior positions such as Deputy Managers or General Managers after about 10 years of service. During this period services might be terminated at any time, if the probationer's work proves unsatisfactory. In most cases, this is only a formality and confirmation automatically follows the probation period.
Functions of a Probationary Officer:
These officers are involved in various operations like keeping a record of investments, loans, mortgages, providing services like payrolls and inventory accounting to the customers. Probationary Officers should exhibit knowledge in the area of global money markets and financial instruments such as deposit certificates, treasury bills, forecasting, source evaluation and cost of domestic and foreign currency funds.
Probationary Officers also need to assess various markets on the behalf of the bank to advice corporate or other banks that need foreign currency. The job requires the Probationary Officer to be constantly updated about the policies of the regulatory bodies, monitoring the current prices, making predictions based on analysis of trends etc. Probationary Officers should also be efficient in keeping records of personal accounts, business, mortgages, installment loan etc.
Working Conditions of a Probationary Officer:
This is generally a 35 hour week with many posts operating to flexi-time. This system offers the opportunity to choose starting and finishing times, which best suit personal needs. "Core time" operates from 10.00 a.m. to 4.00 p.m., with outer limits of 8.00 a.m. to 6.30 p.m.
Leaves:
The annual leave entitlement is 20 days for a full calendar year increased to 25 days, after five years' continuous service. In addition, all employees will get eight Bank and Public Holidays each year taken as they occur and two extra statutory days. The leave year operates from 1st April to 31st March. New entrants are entitled to holidays proportionate to their completed calendar months of service.
Annual leave cannot be taken in the first six months of service, unless arranged by prior agreement, but holiday entitlements accumulated during this period can be taken later.
Sickness:
Full pay sickness allowance is payable according to length of service. For new entrants to Local Government in the first year of service the allowance is one month's full pay (plus two month's half pay) after four month's service. Entitlement increases until, after five years' service, it extends to six months full pay and six months half pay.
Pensions:
New entrants receive a Pension Pack entitled "Better Benefits for all Kinds of People". The pack explains all the essential features of the Local Government Pension Scheme.
Besides Maternity Leave and Medical Allowances are also catered to.
Sources:
“Bank Probationary Officer's Exam Guide “Publisher: Ramesh Publishing House “Career and Opportunities After 10+2 “Publisher: Ramesh Publishing House
Career prospects:
Recruitment for the public sector banks is done through the Banking Service Recruitment Boards (BSRBs). The advertisements for recruitment appear in newspapers as well as the Employment News. Recruitment is done on the basis of a written test, which consists of:
a) Test of Reasoning
b) Quantitative Aptitude
c) General Awareness
d) English Language
e) Descriptive Test
Abilities & Traits Required
A good banker is a person who has a well-organized mind with an eye for detail. It helps in maintenance of records accurately and neatly. The person should have a mathematical aptitude. Employees joining as officers should be able to lead, motivate and manage the bank staff.
Good verbal and written communication skills help in effective interaction with the clients as well as the staff. Integrity and honesty play a major role in all dealings related to money, staff and clients. A person responsible for foreign exchange transactions needs to have a sharp, quick and analytical mind.
Some of the qualities required for a successful bank career are high intelligence, ability to relate to people at all levels and team spirit. Other desired attributes are practical nature, self-confidence, flexibility and the ability to cope with stress and handle pressure.
Qualifications
The candidate must be a graduate from a recognised University or must possess an equivalent qualification recognised as such by the Government of India. The age limit is between 21 and 30 years as on the specified date notified in the press advertisements with exceptions in specific cases. The upper age limit is relaxed for SC/ST and OBC candidates, ex-Servicemen / Commissioned Officers and Officers of Regional Rural Banks, subject to certain conditions.
Graduate/ postgraduates/CA/MBA in the 21-28 year age group, are eligible to take the examination.
Computer Literacy: Operating Computer Systems in MS DOS, MS Windows, Basic concepts of Networking & Connectivity, MS Office (Word, Excel, Power Point etc.), shall be an essential qualification, which a candidate must either possess before or acquire within 6 months, of joining the Bank in case the candidate is selected for appointment.
Salary
Nearly 1000 probationary officers are recruited every year by banks in India. This avenue of direct recruitment as Probationary Officers in Banks, offers a promising career for bright young people today.
Expected earnings of a Bank Probationary Officer:
The job brings in a handsome remuneration, security of service and job satisfaction. The work content is rich and varied.
Starting salary is Rs 15000 20000 per month, with Rs 2000 increment per annum (excluding other allowances).
While seniority is one of the major considerations for promotion, there are also other opportunities of promotions, through departmental exam held every 2 or 3 years
Scale of Pay: Rs 20000 -30000/- (After the Initiatory Months)
Emoluments: DA, HRA, CCA will be paid as per Bank's rules in force from time to time depending upon the place of posting. Total initial monthly emoluments at the Major 'A' class cities may be Rs. 30000/-(approx) for the post. Medical Aid, LTC, Pension, P.F., Gratuity etc. will be admissible as per Bank's rules.