Career is the most important aspect of your life that includes work, responsibility, and learning. You cannot treat career as same as a job. In your whole life, you can go for many jobs but you will choose any one of them as your career in which you seem satisfied.
To settle for a career is the most challenging task for the youths of our country. To opt a government job as a career they perceive IBPS and SSC examinations.
With Indian Post Payment Bank as the new entrant in the government jobs league, candidates can choose this also as an alternative with IBPS PO. IPPB too offers various job profiles strictly in line with banking guidelines defined by the Indian governing bodies.
The problem arises when aspirants find comparing two or three career preferences difficult. As the job profile under IBPS and IPPB are similar, candidates find it very tough to make career comparison.
Therefore, we are here delivering important aspects that you can take into consideration while making a judgment between IBPS and IPPB.
IBPS (Institute of Banking and Personnel Selection)
IBPS is a self-governed body that was started in the year 1975 and become independent in 1984. The organization introduced CWE (Common Written Examination) in 2011 to recruit candidates in clerical and officer scale posts in all Public Sector and Regional Rural Banks.
IPPB (India Post Payment Bank)
IPPB has been recently established under the Department of Posts as a Public Limited Company with 100% GOI equity. It will offer the following:
Demand deposits (savings and current accounts) up to a balance of Rs. 1 Lakh.
Digitally enabled payments and remittance services of all kinds between entities and individuals and provide access to third party financial services in partnership with insurance companies, mutual fund houses, pension providers, banks, international money transfer organizations, etc. such as -Insurance
The selection process of IBPS PO will be based on Preliminary Exam, Mains Exam and Common Interview for the candidates.
If a candidate qualifies the preliminary examination, then only he/she will become eligible to go for the second round that is Mains Examination.
The India Post Payment Bank recruitment also goes along with the same procedure to elect candidates for PO posts; Preliminary Exam, Mains Exam, and a Common Interview phase.
The duties of an IBPS PO includes the following:
Customer service on daily basis.
Handle bank account related queries of customers.
Handling cash transactions.
Manage clearance system of payments for inward clearing and outward clearing.
Processing of Loan.
Generate new business to the bank.
ATM based queries (Block ATM, Online ATM, New requests, etc.)
Daily reporting works of transactions and manually verify each transaction & records of accounts.
The duties of an IPPB PO includes the following:
Responsibility for the smooth running of assigned branch.
Manage day-to-day operations.
Ensure if the bank is running according to the rules and regulations.
Sales of third party products (mutual funds, insurance etc.)
Coordinate customer service points and business correspondents.
Assist the Bank Manager in the preparation of Audit Reports.
The pay scale of an IBPS PO is Rs. 23700 - 42020.
This includes the basic pay, dearness allowances, TDA, CCA, and HRA.
The pay scale of an IPPB PO is also as same as an IBPS PO; Rs. 23700 - 42020. This is also all-encompassing basic pay, dearness allowances, TDA, CCA, and HRA.
In addition, an IPPB PO also receives a performance pay according to their criteria.
Hence, you cannot make an easy decision considering the salary structure of both the job posts.
If you choose your career as an IBPS PO, you will get transfers in rural and remote areas. The transfers are also very frequent and this adds a big drawback to this job.
If you opt to start your career with IPPB, then your life will be easy as you will get postings only in metro cities as the initial 650 branches of IPPB will be there in urban areas.
Therefore, taking into consideration the aspects of postings and transfers, IPPB PO will be a better choice for you.
The working of an IBPS PO involves some risks. You will have to maintain the balances of large deposits and advances.
Also, you will have to take care of the major loans that become Non-Performing Assets. Taking care of NPA loans is a risky work.
The risk factor in IPPB jobs is not that much as compared to IBPS jobs.
The reason that makes the job easier is that the limit of loans under IPPB will not exceed the amount of 1 lakh. Therefore, it is easier for an IPPB PO to maintain the balance and accounts.
The Promotion and growth offered to a PO officer are lucrative. Over the year with consistence performance and excellent industry experience, one can attain growth. The promotion tree of a Bank PO can be understood as follows:
Probationary Officer (PO)
Assistant General Manager
Deputy General Manager
General Manager (GM)
Executive Director (ED)
Chairman and Managing Director (CMD)
The growth prospects of an IPPB PO will be same as an IPPB PO because the promotion policy for both the posts follow the same format.
With IPPB being a new player in the banking industry, one can enjoy the benefits of initial postings.
Here, in this article, we have discussed all the important points that are marked at the time of career comparison.
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