Probationary Officer (PO) is an officer appointed to investigate report on and supervise the people who are on probation in Banks. PO is a one of the most in-demand career choices for youths in banking sector.
PO is an entry level position and typically they undergo a "2 year probation training", which again differs bank to bank, before serving as an Assistant Manager in a nationalized bank. During probation period they work in all sections of bank and gain experience.
Public sector banks has a recruitment body "Institute of banking Personnel Selection (IBPS)" to encourage the recruitment and placement of young graduates in Public Sector banks.
Private sector conducts their own selection programs. However, process is quite similar for both the banks. There are mainly three stages and aspirants are expected to pass each one.
a) Written Test (In two rounds)
b) Group Discussion
c) Personal Interview
Few major banks participating in this process are - State Bank of India, Allahabad Bank, Bank of Baroda, and Punjab National Bank, ICICI Bank etc. The most famous exam among these are SBI and IBPS PO exam. IBPS conducts Common Entrance Test for Public banks whereas Private Banks follows individual paths.
a) During the probation periods, POs are trained for having the practical knowledge in finance, accounting, marketing, billing and investment etc.
b) After training periods, they performs the duties of an Assistant Bank Manager which includes working on daily customer transactions and managing cash flow, loans and mortgages etc.
c) They are expected to work towards increasing the bank business.
d) PO also works as public relation officer and handles customer complaints and addressed various customer issues.
e) PO performs managerial tasks as well.
f) Issuing ATM cards, cheque books and demand drafts also comes under PO's responsibilities.
g) It is anticipated that a Probationary officer should be aware of all the latest developments in their bank and they are required to keep a check on all circulars and be informed about all bank's decisions.
Career growth of a Probationary Officer is very high as well as lucrative. One can reach at the higher position in his/her service. On an average a bank officer becomes eligible for promotions in every 3-4 years. Growth chart is as follows:
General Manager << Chief General Manager << Deputy General Manager << Assistant General Manager << Chief Manager << Branch Manager << Assistant Manager << Probationary Officer
Salary and Perks:
A bank PO gets a very attractive salary package with additional perks. The average basic pay of a PO is Rs. 23,700. In addition to that DA, HRA, CCA, Special allowance is also given which makes the total salary approx 40,000 per month.
PO Eligibility Criteria:
To become a Bank PO, one must have a bachelor's degree in any stream from a recognized university in India. Aspirant must also not hold any criminal record. Candidate's age should be in between 21-30 years for applying this job.
Thus we can say that Bank PO is very promising paths for the youth who desire pursue their career in banking sector.