Home » Employment News 2014 » IDBI Recruitment 2014: 500 Assistant Manager Vacancies

IDBI Recruitment 2014: 500 Assistant Manager Vacancies

IDBI Bank Limited (IDBI) is an Indian financial service company in India. As per the RBI mandate, this bank has been categorized as an “other public sector bank”. The bank is operational from it’s headquarter in Mumbai, India. IDBI Bank is on a par with nationalized banks and the SBI Group and is the 10th largest bank in the world in terms of outreach with 2413 ATMs, and 1413 branches including one overseas branch at DIFC, Dubai and 996 centers including two overseas centers at Singapore & Beijing.

In collaboration with Manipal Global Education Services Private Limited, the IDBI Bank has set up IDBI Manipal School of Banking to train talented youth and award them Post-Graduate Diploma in Banking and Finance (PGDBF). After completion of this course, the trained professionals can join IDBI as Assistant Manager Grade ‘A’ cadre. The motive of this training is to make acquainted professional with the banking sector operations in live environment, while pursuing their education, so as to offer a better service to the clients, when they are inducted in the Officers’ level.

About PG-Diploma in Banking & Finance from IDBI Manipal School of Banking

  • Under this program, the selected youth are trained for one year in the PG-Diploma in Banking and Finance (PGDBF). The program is a full time residential training program.
  • When the students finish the course, they are awarded PGDBF from Manipal University and are offered recruitment directly into the Bank as Assistant Manager Grade ‘A’.
  • For the year 2014-15 the IDBI has announced to intake around 500 students.

Important Dates:

  • Starting date for Online Registration of Application: 30-June-2014
  • Last date for Online Registration of Application: 12-July-2014
  • Date for payment of Application Fees (online): 30-June till 12-July-2014
  • Tentative date for Written Test at all centers: 22-August-2014
  • Cut-Off Date for Age eligibility criteria: 01-June-2014
  • Cut-Off Date for Academic eligibility: 12-July-2014

Number of Candidates in Each batch of Training:

  • Total 500 candidates [UR-NIL, OBC-135, SC-75, ST-37 &  out of this 3% Seats (15 numbers) are reserved for PWD]

Pay Scale and Stipendiary Provisions:

  • During the Training Period (9 Months): Rs.2500 per month as stipend
  • During the Internship Period (3 Months): Rs.10000 per month as stipend
  • After successful induction as Assistant Managers: In the scale of Rs.14400 – Rs.40900 as applicable for Grade-A service. They will also be eligible for other allowances as per norms.

Service Bond:

  • The selected candidates, at the time of their joining the course itself, will have to execute a Service Bond for serving the bank for a minimum period of 3 years from the date of their joining or Rs.2 Lakhs in breach of Bond.

Pre-Examination training (PET) for SC/ST/OBC candidates:

  • In compliance with Government Guidelines, Bank would arrange free non-residential pre-examination training for interested eligible SC/ST/OBC candidates for 6 consecutive days from 16-Aug-2014 to 21-Aug-2014 prior to the written test.

Academic Qualification:

  • The candidates interested for this course, should have completed Graduation Degree in any discipline
  • The candidates applying for the final semester/ year of Graduation may also apply, provided they are able to submit the proof of passing Graduation by 12-July-2014 during personal interview.
  • Candidates are expected to have proficiency in computers.

Age Considerations:

  • The candidates applying for these vacancies must have attained the minimum age of 20 years and should not have exceeded the maximum of 26 years as on 01-June-2014.
  • However, for candidates belonging to reserved categories as demarcated by the Govt. of India, the upper age limit will be relaxed based on the norms specified.

Application Fees:

  • For SC/ST/PWD: Rs.100
  • For all others: Rs.600
  • The candidates only have the option of remitting fees via ONLINE MODE where the application form is integrated with the payment gateway and the payment process can be completed by following the instructions.
  • NO offline mode of payment will however, be accepted.

Selection Procedure:

  • As per the process of admission, an Online Written Test would be conducted across the country.
  • The selection is done in the mode of Online Written Aptitude Test followed by a Personal Interview.
  • During interview candidates will have the option to answer the questions in Hindi or English.
  • Candidates qualifying the personal interview will be considered for final short-listing.

Program Fees:

  • The fees for this Course will be Rs. 3.5 lakhs including boarding, Lodging and course fees, other fees along with service taxes, as applicable to be paid by the students in installments as per a fixed schedule during the 1 year program.
  • However, students can finance the course fees by availing the loan from the IDBI Bank as per existing education loan schemes.
  • The loan can be repaid over a period of time, after the students take up the job as Assistant Managers. The EMIs for the loan would start on completion of the course.
  • There would be no recovery of EMIs or interest during the training period
  • Apart from this the candidates have to deposit extra fees as the exam fees for undergoing various Certification exams like NISM (Mutual Funds) and NISM (Depository Options), etc.

How to Apply: Apply Online

  • The interested candidates can apply through Online mode only through the website of the IDBI Bank at http://www.idbi.com
  • The candidates should ensure that they fulfill all eligibility before applying
  • The application form should be filled in accurately and should be verified before submission.
  • The data entered cannot be changed or altered under any circumstances.
  • The candidates should read through the detailed notification as available at http://www.idbi.com/pdf/careers/Advertisementdetailed-IDBI-Manipal-School-of-Banking.pdf , before applying for these posts.
All candidates whether in Government Service or in Government owned undertaking or other similar organizations/ Corporations/ Boards/ Bodies or in private employments should forward his/ her application through his/ her Controlling Officer/ Employer.

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