Non-banking companies may hire 70,000 bank job aspirants

About 70,000 candidates shortlisted by the country's banking selection institute but still waiting for bank jobs may be absorbed by non-banking entities, which are planning to tap this ready pool of job seekers to avoid a lengthy and costly process of hiring.

The Institute of Banking Personnel Selection, or IBPS, has prepared merit lists of 1,25,000 candidates based on written test and an interview. The top 55,000, from different categories, are being enrolled into government banks.

State Bank of India was not a part of this process as it held separate job exams. The non-banking jobs may appeal to the remaining 70,000, IBPS officials say. An IBPS official said state undertakings in Rajasthan, Maharashtra and Bihar are in touch with the board to hire from the pool of waiting candidates. Small Industries Development Bank of India said it, too, would look into this list whenever necessary.

"Hiring from the ready list of suitable candidates is a sensible choice as this makes the whole process a lot more easier," Sidbi chairman and managing director Sushil Muhnot said. The IBPS board has cleared the move. It has written to the government for a final clearance. Rajasthan Financial Corp may become the first non-banking entity to hire from the list of 70,000 candidates.

It has written to the selection board seeking 10 candidates. The institute will send feelers to the waiting candidates asking them if they would like to take up non-banking jobs. If hired, they will not be considered for further allotment for banking jobs in 2013-14.

Although bank jobs are more lucrative than jobs in state undertakings, many candidates with low score may opt for the second option, instead of waiting for follow-up placement opportunities in banks in 2013-14.


Keywords:banking selection,bank jobs ,non-banking, Banking Personnel Selection,IBPS, candidates, government banks,State Bank of India , job exams, Small Industries Development Bank,Business news