Introduction
The cutoff for the IBPS PO exam is not calculated based on the number of vacancies. Instead, it is determined through a process called normalization, which takes into account various factors to ensure fairness and equal opportunity for all candidates.

Normalization Process
The normalization process is used to adjust the scores of candidates who have appeared for the IBPS PO exam across multiple sessions. This is done to account for any variations in the difficulty level of different sessions and to ensure that all candidates are evaluated on a level playing field. The normalization process involves the following steps:

1. Calculation of Raw Scores: The raw scores of candidates are calculated based on the number of correct and incorrect answers in each section of the exam.

2. Calculation of Mean and Standard Deviation: The mean and standard deviation of the raw scores are calculated separately for each section and for the overall exam.

3. Conversion to Standard Scores: The raw scores are then converted into standard scores using the formula: (Raw Score - Mean) / Standard Deviation. This step helps to remove any variations in the difficulty level of different sessions.

4. Calculation of Normalized Scores: The standard scores obtained by candidates in each section and for the overall exam are then used to calculate the normalized scores. The normalized scores are obtained by multiplying the standard scores by a certain factor, which is determined by the IBPS based on statistical analysis.

5. Calculation of Overall Score: The normalized scores of candidates in each section are added to calculate their overall score.

Determination of Cutoff
The cutoff for the IBPS PO exam is determined based on various factors, including the number of vacancies, the difficulty level of the exam, and the performance of candidates. The cutoff is usually calculated separately for each section and for the overall exam. The IBPS sets the cutoff based on the number of candidates appearing for the exam and the number of vacancies available.

Candidates who score above the cutoff are considered eligible for further stages of the selection process, such as the interview. The cutoff may vary from year to year depending on the aforementioned factors.

Conclusion
In conclusion, the cutoff for the IBPS PO exam is not calculated based on the number of vacancies. It is determined through a normalization process that takes into account various factors such as the difficulty level of the exam and the performance of candidates. The cutoff is set by the IBPS based on these factors, and candidates who score above the cutoff are considered eligible for further stages of the selection process.