RECRUITMENT OF 480 PROBATIONARY OFFICERS THROUGH TIE-UP WITH ACADEMIC INSTITUTION

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.

DETAILS OF VACANCIES FOR ADMISSION

The number of students who would be trained by Indian Overseas Bank Manipal School of Banking is 480

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:

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. The details of the same are furnished hereunder.

COURSE FEE:

The fees for this Course will be Rs. 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):

During the Training Period (9 Months) - Rs. 2500/- per month During the Internship Period (3 Months) - Rs.10000/- per month

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.

Candidates are required to have a valid personal e-mail ID and the same should be specified in the online application form  while 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.

Important Dates:

• 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

Click Here for Official Notification

Courtesy: Indian Overseas Bank