Don't worry. I have answered all these questions in this blog.
What is Apprenticeship?
Apprenticeships are a work-based learning model where learners have supervised on-the-job training, along with job-related education, all while earning a wage.
Training consists of basic training (theoretical instructions) and practical on the job training at the actual work place. The person undergoing an apprenticeship is called an Apprentice.
In case of Banks, Apprenticeship is of one year duration, where you attend theory classes, as well as, learn banking procedures at the Bank itself!
During this time, your duties will involve doing important tasks like administrative work and providing various services at the Bank.
Overall, it's a probationary period to learn and gain experience.
Is it different from Internship?
Yes, it is different from an internship in mainly three ways:
1. Time Duration:
Internships are usually short term (1-3 months) and Apprenticeships are longer term (1-3 years).
2. Structure:
Apprenticeships include a structured training plan, with a focus on mastering specific skills an employer needs to fill an occupation within their organization. Whereas, Internships aren’t structured and often focus on entry-level general work experience.
3. Credential:
Apprenticeships lead to an industry-recognized credential/certificates. Internships typically do not lead to a credential.
Duration of Indian Overseas Bank Apprenticeship:
This Apprenticeship will be 1 year (52 weeks) long, which will include:
a. 2 weeks Basic Training (theory classes)
b. 50 weeks On-the-Job Training (posted in any branch of Indian Overseas Bank)
Will I get any certificate?
This Apprenticeship programme is being conducted jointly by Indian Overseas Bank, under National Skill Development Corporation (NSDC) and the "BFSI Sector Skill Council of India (BFSI-SSC)."
BFSI-SSC was started in 2011, with the objective of convening leading organizations within the BFSI (Banking, Financial Services and Insurance) industry to devise strategies and operational plans aimed at establishing standardized skill requirements for various job roles within the banking sector.
Proving successful completion of the apprenticeship involves passing a skill evaluation test (Trade test).
On passing the test, you will get a joint National Apprenticeship Certificate issued jointly by IOB-NSDC/BFSI-SSC.
This certificate will be very helpful in boosting your finance career and getting you an Assistant Manager job in any private sector bank.
Will this Apprenticeship give me a permanent job in Indian Overseas Bank?
No this will not give you a permanent job in Indian Overseas Bank.
But you will definitely get a very good job in private sector banks.
Will I get paid in this Apprenticeship?
Yes, you will get paid!
You will receive a monthly stipend of ₹10,000 to ₹15,000 depending on your training branch's location:
a. For Rural/Semi-Urban: ₹10,000
b. For Urban: ₹12,000
c. For Metro Cities: ₹15,000
The above stipend amounts also include subsidy of ₹4,500 paid by Government of India. So actual stipend will be:
a. For Rural/Semi-Urban: ₹10,000 - 4,500 = 5,500
b. For Urban: ₹12,000 - 4,500 = 7,500
c. For Metro Cities: ₹15,000 - 4,500 = 10,500
However, it's important to note that apprentices do not receive any other allowances or benefits.
Work Profile of a Indian Overseas Bank Apprentice:
1. Engage in various administrative tasks to learn how the bank and its different departments function.
2. Receive training in providing after-sale services.
3. Be responsible for completing tasks assigned by supervisors or senior employees.
4. Obtaining insight into the operational mechanisms of the organization, which is crucial for comprehending its functioning.
What are the benefits of this Indian Overseas Bank Apprenticeship?
This Apprenticeship programme will boost your career in Banking and Finance Sector. Some of the benefits are:
1. It will help you in learning everything about the banking, insurance and finance sector. You will be able to make good decisions related to your money and finances.
2. After getting trained in BFSI, you can work independently as a financial advisor, and give advice related to loans and investments to people.
3. Since you are trained in BFSI by one of the leading banks of India (Indian Overseas Bank), your value in the market will rise up. You will get a very good job in private sector banks or insurance companies or any company providing financial services. In private banks, you may get posted as an Assistant Manager, with a decent salary.
Overview of Indian Overseas Bank Apprenticeship Programme 2024:
Application Begins: 28/08/2024
Application Ends: 10/09/2024
Payment of Application Fee: 15/09/2024
Complete the Online Form Last Date: 15/09/2024
Online Examination: 22/09/2024 (tentative)
Application Fees:
₹944 for General/OBC/EWS,
₹708 for Female/SC/ST, and
₹472 for Physically Handicapped (PwBD).
Educational Qualification (As on 01/08/2024):
Graduate in any stream from any UGC recognised university.
Age limit (As on 01/08/2024):
Minimum: 20 years
Maximum: 28 years
Age relaxation in the upper age limit will be given to:
1. OBC: 3 years
2. SC/ST: 5 years
3. Physically Handicapped: 10 years
4. Persons affected by 1984 riots: 5 years
5. Widows, divorced women and women legally separated from their husbands who have not remarried: Upto 35 years for General/EWS, 38 years for OBC and 40 years for SC/ST candidates
Vacancies:
A total of 550 vacancies for IOB Apprentice has been notified, which is distributed as follows:
A. Category-wise:
UR: 284, EWS: 44, OBC: 118, SC: 78, ST: 26
B. State-wise:
1. Uttar Pradesh: 41
2. Bihar: 11
3. Jharkhand: 07
4. Madhya Pradesh: 12
5. Delhi: 36
6. Chhattisgarh: 07
7. Rajasthan: 13
8. Himachal Pradesh: 03
9. Haryana: 11
10. Punjab: 16
11. Uttarakhand: 07
12. Pondicherry: 14
13. Tamil Naidu: 130
14. Telangana: 29
15. Odisha: 19
16. Kerala: 25
17. Andhra Pradesh: 22
18. Maharashtra: 29
19. Arunachal Pradesh: 01
20. Assam: 02
21. Manipur: 01
22. Meghalaya: 01
23. Mizoram: 01
24. Nagaland: 01
25. Tripura: 02
26. Karnataka: 50
27. West Bengal: 22
28. Gujarat: 22
29. Andaman & Nicobar Island: 01
30. Sikkim: 01
31. Jammu & Kashmir: 01
32. Chandigarh: 02
33. Laddakh: NA
34. Goa: 09
35. Dadra and Nagar Haveli: NA
36. Daman and Diu: 01
How to Apply?
(a) You have to complete your Registration on the NATS portal https://nats[dot]education[dot]gov[dot]in prior to applying for IOB Apprenticeship program FY 2024-25.
(b) Then you will have to complete an online application form for “IOB Apprenticeship Program FY 2024-25” by visiting the “Career Opportunities” page on www[dot]bfsissc[dot]com
(c) You will be required to provide your NATS Enrollment number while filling your online application form for IOB Apprenticeship program FY 2024-25 on www[dot]bfsissc[dot]com
(d) Candidates can apply for engagement from only ONE State/UT which is preferably their home State/UT.
You will also need these documents to apply:
1. Aadhaar Card
2. Valid Personal Email ID
3. Mobile Number
4. Passport Size Photo (less than 1 MB)
5. Qualifying Degree/Provisional Certificate (less than 1 MB)
Selection Process:
It consists of a computer based examination, followed by a test of the local language.
On the basis of your performance in this test, and qualifying local language test of your regional preference, you will be selected for this Apprenticeship.
This exam will be of MCQ type, and its structure will be:
a. 25 questions from General/Financial Awareness (of 25 marks).
b. 25 questions from General English (of 25 marks).
c. 25 questions from Quantitative and Reasoning Aptitude (of 25 marks).
d. 25 questions from Computer Knowledge (of 25 marks).
Total: 100 questions (of 100 marks)
Time Duration: 90 minutes
Negative Marking: -0.25 marks (1/4th)
After getting selected, your knowledge of local knowledge (of the region you selected in your form) will be tested. Qualifying this is very important for appointments.
That's all about Indian Overseas Bank Apprenticeship 2024 notification. To get more such interesting updates on all government jobs, keep visiting my blog!
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