IBPS order sparks row: Now, you need a healthy CIBIL score to land a bank job!

KANPUR Are you preparing to be a bank official? Well, solving mock test papers to crack the exam is a good idea but what about your CIBIL score?

As per the latest notification from the Institute of Banking Personnel Selection (IBPS), which is responsible for making recruitments for all the public sector banks (excluding the State Bank of India), a candidate must have an above-650 CIBIL score to claim the position of a bank clerk or that of a probationary officer.

The IBPS notification, issued on July 1, 2023, maintains that a candidate, at the time of joining, must have a healthy CIBIL score, which is based on the overall assessment of an individual’s credit history. It ranges between 300 and 900 points based on the data in the credit information report.

However, bank unions are protesting the latest IBPS decision. Candidates would now have to seek a no objection certificate from the lenders certifying that he/she has no dues or the person has been paying EMIs on time. “Anyone failing the CIBIL score test would lose the job offer and then the, joining would be cancelled,” said the general secretary of U.P. Bank Employees Union.

Similarly, the Kanpur Bankers’ Association has also demanded a rollback of the order. Association general secretary Ashish Mishra has said that this arrangement is not good. “Those who do not take any loan and depend on the credit system always have a poor CIBIL score. The IBPS should clarify this,” he said.

Meanwhile, the IBPS has said that it took the decision as many candidates report credit failures. They often do not repay loans or default heavily on credit card payments. “Credit worthiness is paramount in public sector banking. IBPS has said that the CIBIL score has to be above 650 at the time of the reporting of candidate. The aspirant has nine-to-10 months between selection and joining to make the CIBIL score right,” he said.