IDBI Executive

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 2022-23 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 VI HI OH MD/ID
 Executives (on Contract) 1044 418 175 79 268 104 10 11 10 10
Admissions to IDBI Bank PGDBF 2022-23 for

absorption as Assistant Manager, Grade ‘A’
500 200 121 28 101 50 05 05 05 05
 
#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 April 1, 2022
2. Online Registration (only)  

June 03, 2022 to June 17, 2022
3. Payment of Application Fee/ Intimation Charges – (Online

mode only)
4. Tentative Date of Online Test*  
  Executive (on contract) July 09, 2022
  Admission to IDBI Bank PGBDF 2022-23 July 23, 2022

*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, 2022)

 
Parameter Executives (on Contract) IDBI Bank PGDBF 2022-23
 

 

 

Age
Minimum: 20 years

Maximum: 25 years

The candidate must have been born not earlier than April 2, 1997  and  not  later than April

1, 2002 (both dates inclusive)
Minimum: 21 years

Maximum: 28 years

The candidate must have been born not earlier than April 2, 1994 and not later than April 1, 2001 (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 p u r e l y  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 2022-23 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.

i.

(a) Executive (On contract):- The selection process shall comprise of an Online Test (OT), Document Verification (DV) and Pre Recruitment Medical Test (PRMT).

(b) Admission to IDBI Bank PGDBF 2022-23 for absorption as Assistant Manager, Grade ‘A’,  the selection process shall comprise of OT, DV, Personal Interview(PI) and PRMT.

The above mentioned selection process are indicative and Bank is at liberty to alter/ amend/ modify the same at any time without assigning any reason whatsoever.

The structure of the OT is as follows:

Sr. No. Name of the Test No. of Questions Maximum Marks Duration
1. Logical Reasoning, Data Analysis & Interpretation 60 60  

 

Composite time of 2 hours
2. English Language 40 40
3. Quantitative Aptitude 40 40
4. General/Economy/Banking Awareness/ Computer/IT 60 60

The above tests except the tests of English Language will be available bilingually, i.e. English and Hindi.

ii. Candidates have to qualify in each of the four tests, by securing cut-off marks as decided by the Bank.

iii. Penalty for Wrong Answers - For each question for which a wrong answer has been given by the candidate, one fourth or 0.25 of the marks assigned to that question will be deducted as penalty to arrive at corrected score. If a question is left blank, i.e. no answer is marked by the candidate; there will be no penalty for that question.

iv. Candidates qualifying in OT will form the pool of shortlisted candidates and will be eligible for further selection process. Such candidates will be called on the basis of higher order of marks and age within their respective category, subject to availability of vacancies in the respective category and /or at the discretion of the Bank.

v. The final selection or offer of employment would be made based on category wise marks obtained in the Selection Processes, being found medically fit and subject to fulfillment of all other eligibility criteria as stipulated in the advertisement.

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