Agriculture Insurance Company of India Limited (AIC) has been formed on the outset of providing crop insurance to Indian farmers, which was earlier done by the General insurance Company (GIC) in India. AIC has taken over the implementation of National Agricultural Insurance Scheme (NAIS) since 2003-2004. In addition, AIC also transacts other insurance businesses directly or indirectly concerning agriculture and its allied activities.
With the present requirement the AIC invites applications from Indian Citizens for the post of Management Trainees in the discipline of Finance and Investment and Actuarial.
Mode of Selection: The selection for the posts will be on the basis of the performance in Written Examination and/or Interview.
Written examination will have Professional knowledge questions with 80% weightage and Aptitude questions of 20% weightage.
The Minimum qualifying mark in the written examination is 60% for General, OBC & EWS and 55% for SC/ST candidates. Candidates who have been qualified in the Written examination will be ranked in the order of the merit for General as well as reserved category and will be called for an interview.
Selected candidates will be on training for a period of one year from the date of joining of duty. The selected candidates would be paid a consolidated pay of Rs. 60,000/- p.m. during the training period of one year.
The Management Trainee absorbed as Administrative Officer (Scale I) after completion of training period.
The details of the eligibility norms and the criteria for selection are detailed as under:
Management Trainee- 70 Posts [50 Vacancies in Generalist, 10 Vacancies in Finance and Investment Discipline and 10 Vacancies in Actuarial Discipline]
Important Dates: For Actuarial, Finance and Investment
Last Date for Submission of Online Application: 06 MARCH 2023
Tentative Date of Online Examination:
Important Dates: For Generalist
Last Date for Submission of Online Application: 05 FEB 2023
Tentative Date of Online Examination:
Pay Scale: The applicants getting selected as Administrative Officer (Scale I) will be eligible to receive a regular Pay per month in the range of Rs. 32795-1610(14)-55335-1745(4)-62315/-.
Minimum Qualification Required:
Management Trainee [Generalist]- Candidate must possess Graduation/ Post Graduation in Arts/ Science/ Commerce/ Agriculture/ Horticulture/ Animal Husbandry/ Management/ Statistics/ HR/ Others Disciplines from a recognized University/ Institution/ Board with minimum 60% (55% for SC/ST) marks.
Management Trainee [Actuarial]- Candidate must possess Graduation from a recognized University/ Institution/ Board with minimum 60% (55% for SC/ST) marks.
AND, Passed or have been exempted from at least 9 CT Papers (as per old curriculum) or 7 Core Principle papers (as per 2019 curriculum) conducted by Institute of Actuaries of India (IAI) or Institute and Faculty of Actuaries, UK.
Management Trainee [Finance and Investment]-Candidate must possess Graduation in Commerce from a recognized University/ Institution/ Board with minimum 60% (55% for SC/ST) marks.
AND, Qualified Chartered Accountant of ICAI.
Age Limit: Minimum age limit is 21 years and maximum are 30 years as on February 01, 2023. Candidate must have been born not earlier than 2nd February 1993 and not later than 01st February 2002 (both dates inclusive). However, relaxation in upper age limit for reserved category is applicable as per government rules.
Application Fee: For Actuarial, Finance and Investment
Rs. 100/- for SC/ST/Persons with Disability (PWD)
Rs. 500/- for All other categories
Candidates are suggested to pay the application fee through online mode. The payment of fees should preferably be made through NEFT/IMPS.
Application Fee: For Generalist
Rs. 200/- for SC/ST/Persons with Disability (PWD)
Rs. 1000/- for All other categories
Candidates are suggested to pay the application fee through online mode.
How to Apply: [Apply Online] Interested and eligible candidates are suggested to apply online through official website of Agriculture Insurance Co. of India Ltd., www.aicofindia.com
MANAGEMENT TRAINEES in Finance and Investment Discipline: APPLCIATION FORM
MANAGEMENT TRAINEES in Actuarial Discipline: APPLCIATION FORM
MANAGEMENT TRAINEES in Generalist: ONLINE APPLICATION FORM
For complete details on this recruitment and other important guidelines, please refer to official recruitment notification from Agriculture Insurance Co. of India Ltd., here,
Recruitment of 50 Management Trainees – Generalist Discipline