Tuesday 9 July 2013

Indian Overseas Bank – Probationary Officers 480 posts

Indian Overseas Bank, a Nationalized Bank with pan India presence has entered into a MoU with Manipal Global Education Services Pvt. Ltd (MaGE), Bangalore a leader in education field to provide World Class training in Banking and Finance to prospective candidates aspiring to join Indian Overseas Bank as Probationary Officers so that they are fully equipped to discharge their duties effectively from day one of joining the services of the bank.
Company name : Indian Overseas Bank
Posts : Probationary Officers 480 posts
Qualification : Any graduates
Location : India
Last date to apply : 29.07.2013
Details of Post :
Probationary Officers 480 posts
We are looking for young, qualified and dynamic graduates who can be inducted into Indian Overseas Bank as Probationary Officers in Junior Management Grade Scale-I after imparting them with the necessary knowledge and skills required for allround bankers through the 1 year Post Graduate Diploma in Banking and Finance course in Indian Overseas Bank Manipal School of Banking (IOBMSB).
On successful completion of the programme, the programme participants would be awarded a Postgraduate Diploma in Banking & Finance (PGDBF) by Manipal University and would be absorbed as Probationary Officers in Indian Overseas Bank. Candidates are requested to apply only through online between 10.07.2013 and 29.07.2013 through our Bank’s website www.iob.in. No other means/mode of application will be accepted.
ELIGIBILITY CRITERIA
EDUCATIONAL QUALIFICATIONS(AS ON 01.09.2013):
Graduation from a recognised University/Institution with minimum 60% Marks. (For Candidates belonging to SC/ST/PC category minimum 55% Marks). Graduation results should be declared by the University/Institution on or before 01.09.2013. The candidates should produce the Semester/Year wise Mark Sheets, Consolidated Degree Mark Sheet and Provisional Certificate at the time of Interview, failing which the candidates will not be allowed to attend the Interview.
Note: Candidates are advised to only enter percentage of marks (calculated to the nearest two decimals) obtained in the Graduation in the online application form. Where no percentage of mark is awarded by the University, but only CGPA/ OGPA is awarded, candidates are advised to convert the same into percentage and enter only the percentage of marks. The fraction of percentage will be ignored and will NOT be rounded off to the next highest integer i.e. 59.99% will be treated as less than 60% and 54.99% will be treated as less than 55%.
AGE (AS ON 01.09.2013): Minimum Age: 20 Years; Maximum Age: 28 Years. Relaxation in maximum age for SC/ST/OBC/PC/Ex-Servicemen will be as per extant Government Guidelines.
SELECTION PROCESS
A. ONLINE EXAMINATION
All the eligible candidates who have submitted their online application properly in time will be administrated an Online Examination which will be Objective in nature.
B. INTERVIEW:
Mere eligibility/ pass in the Online Examination shall not vest any right in a candidate for being called for Interview. Depending upon the number of vacancies, only those candidates who rank sufficiently high in the order of merit in Online Examination, as per the cut-off marks decided by the Bank will be called for the Interview. The Interview will carry 50 Marks. Minimum qualifying marks in the Interview will be 22.50 marks for General Category and 20.00 marks for SC/ST/OBC/PC Candidates.
Final selection will be made on the basis of total marks obtained by the candidates in the Online Examination & Interview and will be strictly according to the merit ranking. The candidates belonging to SC/ST/OBC/PC will be given relaxation in marks as per extant Government Guidelines. The Bank reserves the right to change the selection procedure, if necessary.
INTERVIEW CENTRES
The interview will be held at major centres across the country and address of the same will be advised in the interview call letters. The Interviews will be held at different centres on different dates as decided by the Bank and will be communicated to the candidates shortlisted for Interview.
COURSE FEE DETAILS
The fees for this Course will be ` 3.30/- lakhs (all inclusive of Boarding, Lodging and course fees, other fees, etc.) plus service taxes, as applicable to be paid by the selected candidates.
Note: The candidates selected for training can finance the Course fees by availing an Educational Loan under IOB Vidya Jyoti Educational Loan Scheme. The details of the Scheme are available in our Bank’s website under the following link http://www.iob.in/Vidya_Jyothi.aspx .
STIPEND, EMOLUMENTS & OTHER DETAILS
STIPEND (DURING THE TRAINING):
  1. During the Training Period (9 Months) – `2500/- per month
  2. During the Internship Period (3 Months) – `10000/- per month
AFTER JOINING THE BANK’S SERVICES AS PROBATIONARY OFFICERS ON SUCCESSFUL COMPLETION OF TRAINING:
Pay Scale – 14500 – 600 /7 – 18700 – 700/2 – 20100 – 800/7 – 25700 plus DA, HRA, CCA as per rules in force from time to time.
PROBATION PERIOD:
The selected candidates will be on probation for a period of two years (24 months of active service) from the date of joining the services of the Bank as per the rules of the Bank.
BOND AMOUNT:
Candidates selected for appointment will be required to execute a Financial Service Bond for rendering service for a minimum period of 5 years. The amount of the Financial Service Bond presently is ` 2,00,000/- along with liquidation of the loan amount at commercial rate of interest (if any) and the stipend received during the training period.
HOW TO APPLY
Eligible candidates are required to apply ‘ONLINE’ only through our Bank’s website www.iob.in and no other means / mode of application will be acceptable. Candidates are advised to follow the following sequence of steps while applying online.Page 7 of 10 Candidates are required to have a valid personal e-mail ID and the same should be specified in the online application formwhile applying for Online Examination for recruitment of Probationary Officers through tie-up with academic institution in our Bank. It should be kept active for the duration of this recruitment process. Under no circumstances, he/she should share/mention e-mail ID to / of any other person.
Before applying online, the candidate has to remit the application fee/ intimation charge as applicable to the candidate with the filled up Payment Receipt Challan in any of Indian Overseas Bank’s branches by means of cash only and collect candidate’s copy of Payment Receipt Challan for the application fee / intimation charge paid. Please ensure that the following information has been correctly entered (1) Name, (2) Category, (3) Contact Phone Number (4) Branch Name & Code Number, (5) Transaction ID, (6) Date of deposit and amount paid in the Payment Receipt Challan.

Important dates to remember :
OPENING DATE FOR ONLINE REGISTRATION 10.07.2013
CLOSING DATE FOR ONLINE REGISTRATION 29.07.2013
PAYMENT OF APPLICATION FEE /INTIMATION CHARGE 10.07.2013 to 29.07.2013
DOWNLOAD OF CALL LETTERS FOR ONLINE EXAMINATION (TENTATIVE) AFTER 19.08.2013
TENTATIVE DATE OF ONLINE EXAMINATION 01.09.2013
TENTATIVE MONTH OF INTERVIEW SEPTEMBER / OCTOBER 2013

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