Full Form of PO :
PO Full Form is Purchase Order. It is an official or commercial document, which is issued by the buyer to the seller. It has all details of the type of transaction, items, number of items or quantity, price agreed, and more. Issuing PO constitutes to the legality of the transaction. The seller accepts the PO to confirm the contract. A PO is applicable to transactions and services that exceed a certain amount.
Companies make use of purchase orders for many reasons. PO is an explicit communication of the transaction in detail. The purchase order protects the seller, in terms of proper payments from the buyer. Currently, most companies opt for electronic PO to cope up with the trend and save the environment.
PO Full Form: Probationary Officer
Full Form of PO refers to Probationary Officer. A bank Probationary Officer (PO) is one of the most sought after jobs in public sector banks. Probationary officers are selected after written tests, group discussions and interviews. They will be given Induction / Management Training for 2 to 3 weeks depending on the bank and then may be placed anywhere in India. This is a Junior Manager Grade 1 Scale 1 job and the title will be that of a Probationary Assistant Manager.
The Probationary Officer may become confirmed within a year or two depending on the bank’s policies. The young POs are trained to multitask on various banking activities like loans, advances, marketing, accounting and finance. They are also made to attend to the customers to get hands-on training on customer service. The Probationary Officer’s job includes cash management, loan processing, customer account opening and servicing etc.
At the end of the probation period, the Probationary Officers will be ready to take charge of the daily banking activities like a pro. The POs are well paid as they are the young energetic blood of the bank and are considered high yielding assets after the training period. Their enthusiasm, fresh approach towards the various banking activities and marketing inputs can help the banks to keep up with the new generation banks and other banks in the rat race.
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