IDBI Bank Ltd., hereafter referred to as ‘the Bank’ invites online applications from eligible candidates for the post of
Executives (on contract) and for
Admission to IDBI Bank PGDBF 2024-25 for absorption as Assistant Manager, Grade- ‘A’, hereafter referred to as the ‘Recruitment Process’. The above recruitments will be strictly on all India basis as per the selection process enumerated hereunder.
Note- Candidates are strictly advised to
apply only for one of the posts, after ensuring their eligibility as per the criteria given for the respective post. Please note that multiple applications are liable to be rejected and fees/charges, if paid is non-refundable.
A. Vacancy
|
Name of Posts |
Total Number of Vacancy# |
Reserved for |
|
Unreserved (UR) |
SC |
ST |
OBC |
EWS |
VH |
HH |
OH |
MD/ID |
|
Executives (on Contract) |
1036 |
451 |
160 |
67 |
255 |
103 |
19 |
11 |
10 |
10 |
#The number of vacancies mentioned above is provisional and can be modified/ cancelled at the sole discretion of the Bank. The Bank also reserves the right to shortlist candidates and consider these shortlisted candidates for future requirements. Offer Letter/Letter of Admission (LoA) may be issued in phases as per the Bank's requirement.
B. Crucial Date for the Recruitment Process
|
S. No. |
Activity |
Date |
|
1. |
Cut-off date for eligibility criteria of Age & Qualification |
To be announced |
|
2. |
Online Registration (only) |
To be announced |
|
3. |
Payment of Application Fee/ Intimation Charges – (Online
mode only) |
|
4. |
Tentative Date of Online Test* |
To be announced |
*Any modification in the Date of the Online Test shall be updated on the Bank’s website only and individual mails/ communications shall not be sent to the applicants.
C. Eligibility Criteria (as on April 1, 2024)
|
Parameter |
Executives (on Contract) |
|
Age |
Minimum: 20 years
Maximum: 25 years
The candidate must have been born not earlier than April 2, 1998 and not later than April
1, 2003 (both dates inclusive) |
|
|
Education Qualification |
Graduate in any discipline from a University recognized by the Govt. of India OR any equivalent qualification recognized as such by the Central Government. Passing only a diploma course will not be
considered as qualifying the eligibility criteria. |
Specific information/ instructions for 1. Executives on Contract:
i. Emoluments, Career Prospects and Service Conditions
The appointment of Executive will be purely on contractual basis. The contract would be initially for a period of
1 year and may be reviewed for extension on year-to-year basis for a further period of 2 years, subject to satisfactory performance, completion of assigned mandatory e-certifications, availability of vacancies at the relevant point of time and any other criteria.
On successful completion of a period of 3 years of contractual service, such appointees shall become eligible for appointment as Assistant Manager (Grade A) in the Bank through a selection process that would be conducted by the Bank. Appointment as Grade A will be as per the prevailing policy of the Bank and availability of vacancy at the relevant point of time. The Executive will be paid a lump sum/fixed remuneration as given below:
|
Consolidated remuneration |
Rs.29,000/- per month in the first year, Rs.31,000/- per month in the second year and
Rs.34,000/- per month in the third year of service. |
Note:
a. In addition to the above, the Bank would also be contributing to the NPS account of the Executives as per norms applicable from time to time.
b. During the contractual period, the appointee can be posted at any branch or departments or offices or business units of the Bank or its subsidiaries or associate institutions as per the discretion and/or requirement of the Bank.
c. The appointment being purely contractual in nature, the appointee shall not be entitled to draw any allowances such as DA, HRA, etc. nor be entitled for any superannuation benefits, gratuity and provident fund or any benefits whatsoever.
d. The contractual period of service would not be counted for any seniority/superannuation/ terminal benefits, continuation of employment etc., in case, the appointee is considered for appointment in the services of the Bank as a regular full time employee at a later stage.
However, the appointee would be covered under the IDBI Bank Ltd. New Pension Scheme (IBLNPS).
2. Admissions to IDBI Bank PGDBF 2024-25 for absorption as Assistant Manager:
i. The Bank has an arrangement with Manipal Global Education Services Private Limited (Manipal), Bengaluru and Nitte Education International Private Limited (Nitte), Greater Noida to provide training in Banking and Finance to prospective candidates aspiring to join the Bank as Assistant Manager Grade ‘A’. Currently the 1 year Post Graduate Diploma in Banking and Finance (PGDBF) comprises of 9 months of classroom studies at campus and 3 months of internship at the Bank’s branches or offices. However, bank reserves the right to alter the timelines as noted above based on business requirement, industry standards etc. After successful completion of the course, the candidates will be awarded PGDBF certificate and will be inducted into the Bank as Assistant Manager Grade ‘A’ subject to fulfillment of eligibility criteria as stated in this advertisement.
ii. Bank shall endeavor to induct candidates from the Western and Southern Zones through Manipal, Bengaluru and candidates from the Eastern and Northern Zones through Nitte, Greater Noida. The allotment of candidates to Manipal or Nitte will be done by the Bank on basis of the State of domicile declared in the Online Application form on best effort basis, but subject to availability of seats and/or discretion of the Bank.
|
Southern and Western Zones |
Northern and Eastern Zones |
|
(Manipal, Bengaluru) |
(Nitte, Greater Noida) |
|
Zone |
States |
Zone |
States |
|
Ahmedabad |
Gujarat, Dadra & Nagar Haveli and Daman & Diu |
Bhopal |
Madhya Pradesh |
|
Bengaluru |
Kerala & Karnataka |
Bhubaneswar |
Chhattisgarh & Odisha |
Chennai |
Tamil Nadu, Puducherry, Andaman & Nicobar |
Chandigarh |
Chandigarh, Haryana, Himachal Pradesh, Jammu & Kashmir, Ladakh
(U.T.) & Punjab |
Hyderabad |
Telangana and Andhra Pradesh |
Kolkata |
Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram,
Nagaland, Sikkim, Tripura & West Bengal |
|
Mumbai |
Maharashtra (Mumbai, Thane &
Nashik) |
Lucknow |
Uttar Pradesh & Uttarakhand |
Nagpur |
Maharashtra (Ahmednagar,
Aurangabad, Jalgaon, Nagpur & Solapur) |
New Delhi |
Delhi (UT - NCT), Haryana, Rajasthan & Uttar Pradesh |
|
Pune |
Maharashtra (Pune, Satara,
Kolhapur) & Goa |
Patna |
Bihar & Jharkhand |
(iii) Programme Fees
Programme fees for this course will be Rs.3,50,000/- (Rs. Three Lakh Fifty Thousand only) plus GST, as applicable, to be paid by the students in lump sum or in installments as per a fixed schedule during the one year programme. The said fee is inclusive of course fees, lodging, boarding and other charges, etc.
Apart from the above course fees, the exam fees for undergoing various certification exams as mandated under the course will have to be borne additionally by the candidates, as per the fees charged by respective body/organizations from time to time for conducting these Certification exams.
(iv) Financing /LoanOptions
Selected candidates can pay the course fees by availing Education Loan from IDBI Bank only, if they so desire, which will be granted as per the prevailing Education Loan scheme of the Bank.
(v) Career Prospectsand Emoluments
Stipend: During the Training Period of 9 months – Rs.2,500/- per month and during the Internship Period of 3 months – Rs.10,000/- per month.
After joining the Bank’s services as Assistant Manager Grade ‘A’,
only on successful completion of the course, the extant B asic Pay currently applicable to Assistant Managers in Grade A is Rs.36,000/- per month in the pay scale of 36000-1490(7)-46430-1740(2)–49910–1990(7)-63840(17 years). Candidates should note that the pay scales, allowances, reimbursements, perquisites and other terms subsisting at the time of joining and as may be modified / amended / revised from time to time would be applicable as per rules in force from time to time.
(vi) Terms of Appointment and Posting
Initial appointment in the post of Assistant Manager will be on probation for a period of 1 year from the Date of Joining the Bank (which can be extended upto 2 years at the discretion of the Bank). Candidates will be posted at Bank’s discretion, to any offices of the Bank or the departments / offices / business units / the Bank’s associate institutions. The candidates will also be liable to be transferred to any place in / outside India, as the Bank may decide from time to time in terms of the Bank’s prevailing rules/policies.
(vii) Service Bond
All selected candidates, at the time of registering for the course, will have to execute a Service Bond for serving the Bank for a minimum period of 3 years from the date of their joining the Bank’s service or shall have to pay an amount of Rs.2 Lakhs plus applicable taxes /charges etc. In addition to the payment of Rs.2 Lakhs plus applicable taxes /charges etc., in case any candidate leaves the services of the Bank before 3 years of his/her joining the bank or during the course period, he/she will have to clear his/her outstanding Educational Loan dues or any charges, costs etc. at the applicable card rate, if he/she has opted for Education Loan from the Bank.