If you are interested in both law and banking, but cannot decide which one to choose, we have got the perfect answer for you. Both! Become an IBPS Law Officer and experience a career in both law and banking. There is a need for law officers in banks to provide legal advice and deal with legal issues in the bank. IBPS Law Officers work in public sector banks that come under IBPS or Institute of Banking Personnel Selection. If you wish to pursue this job, you must know the ins and outs of it. So, we have prepared everything you need to know about becoming an IBPS Law Officer:
Also read – How to make successful career in banking?
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What does an IBPS Law Officer do?
Since banks also have to follow laws given out by the Reserve Bank of India (RBI) and their own company laws there is always a need for specialists to handle such affairs. The various responsibilities an IBPS Law Officer has to undertake are given below –
- They have the responsibility to give legal advice and handle legal affairs associated with the banks.
- They have to take care that all rules and regulations set by the RBI are strictly followed.
- The legal documents for various bank processes are prepared by them.
- Guiding the bank to act according to the laws like Banking Regulations Act, RBI Notifications, Foreign Exchange Management Act, Contract Laws, Companies Act 1956 etc is a job of the IBPS Law Officer.
- They also have to prepare initial drafts of legislations administered or to be administered by the bank.
Also try – RBI Assistant Course
Every exam or post has eligibility criteria that have to be followed by the candidates to be able to get that post. So the eligibility criteria for the IBPS Law Officer is given below –
- The candidate should be a citizen of India or a subject of Nepal, Bhutan or a refugee from Tibet who came to India before 1st January, 1962.
- The candidate should be between the age ranges – 20 – 30 years. The people belonging to the following category of SC/ST, Ex – servicemen have 5 year relaxation, people belonging to the OBC category have 3 year relaxation and the PWD candidates have a 10 year relaxation in this rule.
- ·Minimum educational qualification is a Bachelor’s degree in law and the candidate should also be enrolled as an advocate with the bar council.
Read – Law courses in India
IBPS SO Exam
To become an IBPS Law Officer you have to pass the IBPS SO Exam which is conducted by the Institute of Banking Personnel Selection (IBPS) every year. This exam is conducted in 3 phases – the prelims, the mains and an interview round. Then only will you be able to become an IBPS Law Officer. We are providing some basic information about the exam as well here.
How to Apply for IBPS SO Exam?
The application process is easy and is fully online. We are providing the step by step process walk through for the application process below –
- Go to the official site and apply here.
- Fill the application form properly.
- Upload all the documents asked for in the form.
- Submit the application fee and the form. The application fee is Rs. 850 for the general and OBC category and Rs. 175 for the SC/ST/PWD candidates.
- Download the admit card from the website when it is released.
- Give the exam and check the results when announced.
Then give the Mains exam and get ready for the interview. Once you pass all these then you will be selected as the IBPS Law Officer and get to work in a bank under IBPS.
Pre Exam Training
For the benefit of the candidates from the weaker sections, SC/ ST, religious minorities, the Nodal banks or the participating organizations may organize pre-exam training to provide a level playing field to those who cannot afford coaching. The students are made aware of the type of questions, time management practices, basic tricks, common mistakes and the recruitment procedure. The candidates who want this facility have to specify this in the application form. This training takes place generally about 5 days before the exam and dates are announced on the website. The list of centres for this training is given below-
The salary of an IBPS Law Officer is one of the things that lure people to this post. The salary is not the only thing the officers get, allowances and perks are also part of the whole package. We will cover what the salary is and the perks as well. The salary according to the different posts are given below –
|Post||Approximate Monthly Salary|
|Scale – I officer||Rs. 36,500|
|Scale – II officer||Rs. 49,000|
|Scale – III officer||Rs. 65, 000|
The salary includes various allowances and perks like – house rent allowance, dearness allowance, special allowance, city compensatory allowance, miscellaneous etc.
IBPS Law Officer is a post in the public sector banks. The law officer gives legal advice and takes care of the legal side of things in the bank.
To become an IBPS law officer you will have to clear the IBPS SO Exam. On clearing all 3 rounds you will become an IBPS law officer.
The estimated salary of an IBPS officer is given above in detail with the perks and allowances which are provided to them.
It is a job in the bank. It is stable and has perks along with the salary. So Yes it is a good job if this is what you are interested in.
The eligibility criteria is given above in detail for you. Please check it for further information.
So this was all about IBPS Law Officer. Hope it helps you in understanding the job well. It is a good job for those interested in law and the working of banks. Check out other career options in Law, finance or other fields on Leverage Edu. Connect with us on Instagram, Facebook, Twitter and LinkedIn.