Yes, you are Eligible for IBPS Bank PO Exam with 49% marks in Graduation, the basic requirements is that the applicant should have completed graduation from any recognized university of India.

Eligibility for IBPS PO:
The applicant should have completed Graduation with any of the stream from a recognized university

Age limit:
One should be in the age group of 20-30 years to be eligible for IBPS PO Exam.

Relaxation is there in upper age limit upto 5 years for the candidates of SC/ST category.
SC/ST Candidates: 5 years
OBC Candidates(non creamy layer): 3 years
Persons with disability: 10 years
Ex-Servicemen: 5 years

The entrance examination generally covers following topics:
Reasoning: 50 questions of 50 marks
English Language: 50 questions of 25 marks
Quantitative Aptitude: 50 questions of 50 marks
General Awareness: 50 questions of 50 marks
Computer Knowledge: 50 questions of 50 marks