Do you need a CIBIL score to get a job as a bank clerk? Job seekers resist the idea a great deal

How is it to miss out on a job opportunity for want of a good CIBIL score? Sounds incredible but could be a reality for some applicants. This is what may happen to the applicants of a job for the post of a clerk at public sector banks – and this did not go down well with the applicants, and rightly so.

“When we are not taking any loans, what is the justification for making the CIBIL rating one of the selection criteria?” N Sravan Kumar, a software engineer preparing for bank exams, said upon being asked about the latest notification for clerks in public-sector banks, reported Hindu.

What is a CIBIL score?

CIBIL Score, or Credit Score, is a three-digit numeric summary of a borrower’s credit history. CIBIL maintains and calculates your credit score.

Simply put, it means how well you have managed your finances such as a home loan, personal loan or your credit cards, in the past.

Exam for selection in banks

In the first notification this year, Institute of Banking Personnel Selection or IBPS has notified the Common Recruitment Process (CRP Clerks XIV) for the Recruitment and Selection of Personnel for over 6,000 Clerical Cadre Posts in a number of participating banks.

All public sector banks, barring State Bank of India (SBI) are constituents of the CRP.

Despite the excitement over the upcoming recruitment, the aspirants also point to a lack of clarity in the notification on the Cibil front.

Jagadish Shetty, another applicant, believed that there should be more clarity since the notification states the candidate applying maintains a healthy credit history at the time of joining participating banks. Also, the minimum credit score will be as per the policy of participating banks, which is subject to change from time to time. Why can’t there be standardisation, he wondered.

When contacted, a senior official of a public sector bank who did not like to be identified said, “Credit discipline is one of the most important traits for bank employees, and a bad record in youth might also lead to a higher propensity for fraud.”

“The norm is not applicable to those who do not have a bank account till now, and it is also not mandatory at the time of application. It will only be checked at the final stage before issuing appointment letters,” he added.

Those candidates whose CIBIL status has not been updated before the date of joining have to either get the CIBIL status updated or produce the NOCs from the lender stating that there is no outstanding with respect to the accounts adversely reflected in the CIBIL, failing which the letter of offer may be withdrawn/cancelled.

The final discretion in this regard remains with the allotted bank, as per the notification.

Apparently, the banks did not heed the widespread protests against the Cibil norm when it was introduced in previous recruitment.

Recruitment in clerical cadres in public sector banks is done on a State/ UT-wise basis; candidates can apply for vacancies in any one State/ UT only.