Non-Banking Financial Companies (NBFCs) to hire from IBPS Wait-listed Candidates

There is a good news for the candidates, who have qualified in IBPS PO 2 or IBPS Clerk 2 (after common interview) but could not get an allotment due to low scores. Many Non-Banking Financial Companies are planning to hire from these candidates on the basis of merit from the IBPS list.
Approx 70,000 candidates who were finally selected (Bank PO and Clerk Combined) and were asked to fill their preference for the preferred banks are still in waitlist and the allotment is due because of lesser number of available vacancies/ low on merit.

If we look at the recently concluded selection process of IBPS, they had prepared a merit list of total 125000 candidates selected through two rounds of Written test and interview (80,000 Clerk &  45,000 PO). Out of these 1,25000 candidates, 55000 candidates have already been allotted to one of the government bank and 70,000 are yet to get a job.

Selection of candidates, through the common recruitment process of IBPS takes time and money and thus to speed up the process of recruitment for Non-Banking institutions, they are planning to hire from these candidates.

Recently, Small Industries Development Bank of India (SIDBI) has reported that if necessary they will be hiring from the same pool. SIDBI Chairman Sushil Munot said, “It is good to recruit and hire from the readily available candidates. It is fast and cost effective. Rajasthan Financial Corporation will be the first non-banking entity, which will be hiring from the same pool of candidates. The state government subsidiary is  seeking to hire 10 candidates.

Very soon, Non Banking Companies – will send communication regarding these vacancies to Waiting Candidates interested in non-banking jobs vacancies. It will be an option for the candidates, who could not get allotment due to low socres. Most candidates who have scored low can chose the the option of Non – Banking services.