IBPS SO Law Officer Scale 1 exam is conducted every year for the selection of Legal Officers in various PSU banks.
What does a Bank Legal Officer actually do?
- A Law Officer takes care that the bank follows all the rules and regulations set by the RBI.
- An IBPS Law Officer in banks prepares legal documents for various processes of the bank.
- An IBPS Law Officer guides the bank to act in accordance to various laws like RBI Notifications, Banking Regulation Act, Foreign Exchange Management Act, Contract Laws, Companies Act, 1956 etc.
- The minimum age limit is 20 years and the maximum age limit is 30 years.
- A bachelor’s degree in Law and enrolled as an advocate with Bar Council
- Citizen of India
IBPS SO exam will be conducted through a three phase (Prelims, Mains & Interview) selection process. Candidates who qualify both the rounds will be further considered for the final interview process.
The preliminary exam is of a qualifying phase for the mains and candidates will have to meet the cut-offs of prelims to be eligible to appear for Mains exam.
Name of tests
No. of questions
General awareness with special reference to banking industry
There will be penalty for wrong answers. For each question for which a wrong answer has been given, 1/4th or 0.25 of the marks assigned to that question will be deducted as penalty.
Syllabus for Preliminary Exam:
- General Awareness with Special Reference to Banking Industry.
- Banking Reforms
- Regulatory Bodies in India- NABARD, SEBI etc.
- International Banking
- Important RBI Circulars
- Latest Updates in Financial & Capital Markets
- Financial Terms
- Banking Terms
- Latest Acts related to Banking
- Priority Sector Lending
- NPA - latest news
- SARFAESI Act
- RBI Monetary Policy
- Capital & Money Market Instrument
- Commercial Banks, NBFCs, HFC - Latest news
- Mergers and Acquisitions in Banking Companies
- Credit Rating and Agencies
- Payment Options- NEFT, RTGS, Bharat Bill payment etc.
- RBI’s circulars
- Coding & Decoding
- Machine Input Output
- Seating Arrangements
- Direction Sense Test
- Blood Relations
- Problems based on Ages
- Ranking and Order
- Data Sufficiency
- Statement and Conclusions
- Statement and Assumptions
- Statement and Arguments
- Logical Reasoning
- Alphanumeric series
- Analogy and classification
- Clocks and Calendar
- Non- Verbal Reasoning
- Cloze Test
- Reading Comprehension
- Spotting Errors
- Sentence Improvement
- Sentence Correction
- Para Jumbles
- Fill in the Blanks
- Para/Sentence Completion
The Mains Exam is of 45 Minutes which includes 60 questions of one mark each.
The Main Examination for Professional Knowledge of Law shall consist of following subjects:
- Constitution of India
- Indian Contract Act, 1872
- Specific Relief Act, 1963
- IPC, 1860
- CrPC, 1973
- Indian Evidence Act, 1872
- CPC, 1908
- Jurisprudence and Interpretation of Statutes
- Important Latin terms and maxims
- Law of Torts and Consumer Protection Act, 2019
- Arbitration and Conciliation Act, 1996
- Transfer of Property Act, 1882
- Companies Act, 2013
- Limited Liability Partnership Act, 2008
- SEBI Act, 1992
- SC(R) Act, 1956
- Depositories Act, 1996
- Taxation law
- Indian Partnership Act, 1932
- Law of Trusts – Parties to a Trust Deed and Duties of Trustees
- Reserve Bank of India Act, 1934
- Negotiable Instruments Act 1881
- Foreign Exchange Management Act,1999
- The Prevention of Money Laundering Act, 2002
- Information Technology Act, 2000
- Limitation Act, 1993
- Banker’s Books Evidence Act, 1891
- The Recovery of Debts due to Banks and Financial Institutions (DRT) Act,1993
- Consumer Protection Act, 1986
- Banking Ombudsman Scheme, 2006
- Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002
- The Right to Information Act, 2005
- Transfer of Property Act, 1882
- Banking Regulation Act, 1949
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* [All the details regarding eligibility & syllabus given herein above are merely informative and the information available in Government websites shall be treated as authoritative]