I faced alot of difficulty in finding reliable information on this (both online and offline). So here I am sharing all the information i found post my final selection in ANDHRA BANK -Manipal Pg course for PO's. Hope this will be helpful for future aspirants. All the Best :)
Why Banks are recruiting POs through this channel ? ?
Banking sector has become too competitive these days and the ground level front-runners i.e junior scale officers have a larger role to play in its success.
Banks are looking foward for a candidate well versed in banking and finance .
It sounds like banks want tailor made material who are right on target from day 1. That's the reason for this selection.
What is the Course duration??
9 months - 3 semesters at manipal campus &
2-3months- internship /training at bank branches.
How Much does it Costs ?
How Much does it Costs ?
It costs around 3.99 lakhs ( includes swach bharath cess) which covers cost of accommodation and course fee.
You will be given a stipend of 2500rs for 9 months and Rs 10000 for next 2-3months.
What are the advantages to candidates??
- Best training through world class faculty and infra.
- Making him/her adaptable to banking environmnent.
- Hassle free Educational loan towards Course fee.
- Entire course fee will paid back through LOYALTY bonus if the selected candidate works for that bank for 5 years.
- Preference in Promotions ( depends on the bank ).
- Prefered for postings in Metros to deal HNI (high networth income)customers.(esp IDBI and BOB).
- Successful completion of course awards you JMGS scale-1.
******YOU Can Quit the COURSE only within 15 days with minimal damage charges. *********
What are the disadvantages?
- Bond period of 3+2 years ( depends on the bank).
- On breaking the bond entire education loan has to be paid at a single installment at commercial rate of interest.
- Emi s will eatup your salary incase of an educational loan(8500-9000rs monthly).
- Remain partially wageless for 1year.
- ****Not advisable for people looking at banking career as a backup plan for ssc civils etc.*****
Which banks are tiedup with Manipal??
- Andhra bank
- Bank of baroda
- Syndicate bank
- and more to come.
In the coming years, banks will increase the recruitment to posts of pos through manipal.( Bank of Baroda has recruited zero pos through IBPS Po 5 )
People who failed in Ibps po / clerk have a good opportunity as it is easy.
Psbs+ manipal tieup is highly rewarding to aspirants who crave for banking career.
Andhra bank -Manipal has selected 200candidates out of 1.5lakh applicants for the course.
All the best future bankers:-):-)