The journey of this Institute began in 1975, just after nationalization of banks, as Personnel Selection Services (PSS), a unit of National Institute of Bank Management (NIBM). The objective was to develop an unbiased and efficient system for recruitment, promotion and placement services. This prototype initiative was extended to provide these services with all the academic and operational inputs to the banking industry initially which now has been extended to non-banking sectors as well. In 1984 this unit became an independent entity – Institute of Banking Personnel Selection (IBPS) at the behest of Reserve Bank of India (RBI) and Public Sector Banks. The first Chairman of its Governing Board was Dr Manmohan Singh, the then Governor of RBI. IBPS is envisioned as self governed academic and research oriented institute, with a mission of enhancing human resource development through personnel assessment.
The foundation of the Institute is to promote professionalism in Talent Acquisition through selection of competent and efficient cadres of personnel from the clerical to the executive tier, promotion and placement of human capital at various tiers within the organizations, carrying out research in the area of human resource management, psychometrics, measurement and evaluation of competencies and conducting seminars, workshops and training programmes in the areas related to its activities.
The Institute is an autonomous body; registered as a Public Trust under the Bombay Public Trust Act of 1950; a Scientific and Industrial Research Organization by the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India and a centre for providing PhD in Management affiliated to the SNDT University.
By enhancing its consulting expertise over the years, the institute has acquired the distinction of a Premier National level Institute and the fore-runner in the field of personnel selection. It pioneered the use of Objective Type Cognitive Ability tests for mass level examinations. Its success story has now registered a distinctive hallmark on the national horizon, be it class or mass selection.