Bank of Maharashtra a leading public sector bank has announced recruitment of probationary officers (PO) for the year 2016-17.The bank with headoffice in pune is operational for the past 80 years and is present in 29 states with 1896 branches.Bank of Maharashtra is to appoint individuals as officers after they complete Post Graduate Diploma in Banking & Finance (PGDBF) course in Manipal University/ NIIT Institute.
Insitute of Banking Personnel Selection (IBPS) is responsible for conducting recruitments to fill vacancies in govt banks.A total of 8800 officer jobs are to be filled through IBPS PO 2016 exam.
To limit employees from moving out of the bank frequently, govt banks are looking at ways to retain them.Bank of Maharashtra has joined that list recently by not participating in IBPS PO 2016.
Candidates who complete the training will get awarded Post graduate diploma in Banking & Finance & directly appointed as Scale I officer in Bank of Maharashtra with payscale of approx. 8.50 lakhs/ year.
A total of 500 positions are to be filled.The categorywise breakup is given below:
While the payscale is Rs.23700 – 42020, the total emoluments including salary, benefits, allowances etc is 8.50 lakhs/ year.
Note these Dates:
Registration of online applications – August 12 to September 6, 2016
Date of online tests & interview – informed later
Who are Eligible?
The eligibility conditions to apply for Bank of Maharashtra PO jobs recruitment 2016 are quite simple & applicants must satisfy each one below,
Since IBPS PO exam scores are NOT needed to apply, even those who have not registered for any bank exam earlier can apply for this selection.
If you are in final semester/ year of college – you are NOT eligible to apply.
All applicants need to appear for an online test that is similar to a normal banking exam.The pattern is as follows:
Only those who qualify in each of the above objective test paper & secure a minimum total score in the exam will be shortlisted for Interviews.
For each wrong answer 0.25 shall be reduced as negative marking.
Books: As the Bank of Maharashtra PO exam pattern is similar to that of any other bank exam.So you may buy a regular bank PO examination guide to prepare for this recruitment.
Confirmed Job after Course Completion:
Shortlisted candidates after Interview will have to undergo the PG diploma course (PGDBF) at NIIT University, Rajasthan OR Manipal Global Insitute of Banking, Rajasthan.
The duration of Post graduate diploma in Banking & Finance course is 12 months which is dividied into two stages,
- 9 month classroom training
- 3 month internship at bank branches with a stipend of Rs.20,000/ month
|On successful completion of 12 months training, the trainees shall be awarded appointment letters & can join Bank of Maharashtra as PO (scale I) with a total salary of Rs. 8.50 lakhs /year.|
Course Fee: The cost of undergoing this course is Rs.3.15 – 3.50 lakhs which should can be paid by the candidate personally OR they may avail an education loan from the bank itself.
Incase you choose to take a loan, the EMI repayment shall start only after joining the job.It shall de deducted from your salary for 60 months (5 years).
Service Bond: All selected candidates need to sign a bond agreeing to work for a period of 2 years.
Those who resign before the end of bond period, should pay Rs.2 lakh + stipend amounts + outstanding educational loan balance to the bank.
The application fee of Rs.600 & Rs.100 (sc/st/pwd) is to be paid at the time of submitting your online application before September 6.
- The registration form must be completed online on their website bankofmaharashtra.in
- Your recent passport sized photo & signature must bhe scanned & uploaded to while registering to complete the process.
Make sure to take a print of the system generated filled-in application form & e-receipt for future references.
If you are interested to apply for Bank of Maharashtra PO recruitment, download the notification from their website here
Online application link –> click here