Is it possible to prepare for bank examination and IAS at same point of time?

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Yes.
Background: I started preparing for Civils late 2013. I had also attempted SBI PO and the common test for other banks as well as RBI. I cleared SBI PO and joined as PO in 2013 December itself. I cleared the common bank exam written but didn’t go for interview as I had already cleared SBI. Still I had enough marks to make it to list (but didn’t as I hadn’t gone for interview). I appeared for RBI Grade B interview but didn’t clear interview. I cleared 2014 Civils and joined IRS C&CE in 2015.

I joined PLUTUS ACADEMY NOIDA for govt and bank po job. They are the best
Read:- Best govt job coachings in delhi

You can easily clear Bank PO test along with CS preparation. For this you need a few prepared skill sets.
  1. you should be good with numerical ability and aptitude model questions; read CAT model questions. I had a good grasp of the same as I had appeared for CAT and had got 97.1 percentile.
  1. you should have decent English language skills. Again my CAT coaching helped.
  2. You should have a decent grasp of GK. Obviously your CS GS preparation plays a part but GK and GS are somewhat different. You need to bowl differently for these two.
If you don’t have the above skillset developing the same is a little time consuming. Divide the day’s learning period in a 70:30 ratio and invest 70% to CS and 30% to bank materials. The good thing is that your bank coaching will guarantee that you will get the qualification mark for CSAT Paper II. 
This model is advisable only when you see banking as a serious second choice. If you, like me are planning to resign hardly a week (I resigned SBI PO on the eighth day of joining) then don’t waste your time and money on bank coaching. Focus on CS and apply for CS, SSC, IB and the like.

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