IDBI announces 650 Assistant Manager Posts!!

IDBI Bank has entered into a MoU with Manipal Global Education Services Private Limited, Bengaluru u and Nitte Education International Private Limited [Nitte] Greater Noida to provide training in Banking and Finance to prospective candidates aspiring to join IDBI Bank as Assistant Manager Grade 'A'. IDBI has announced 650 posts for Assistant Managers as a part of this project.

The One Year Post Graduate Diploma in Banking and Finance (PGDBF) comprises 9 months of classroom studies at campus and 3 months of internship at IDBI Bank's branches. After successful completion of the course, the candidates will be awarded PGDBF certificate and will be inducted into IDBI Bank as Assistant Manager Grade 'A' subject to fulfillment of eligibility criteria .

(A) Eligibility Criteria :

Education : A Graduate from a recognized university with minimum 60% marks (55% for SC/ST/PWD)

Age (As on 01.07.2021) : 21 - 28 Years

(B) Application Fee :

Rs 200/- for SC/ST/PWD candidates and Rs 1000/- for all others

(C) Important Dates:

Date of Commencement of application through online mode 10.08.2021
Last date for submission of application through online mode 22.08.2021
Date of Online Test (Tentative) 04.09.2021

(D) Selection Process:

The selection process will consist of an Online Test followed by a personal interview of the candidates, who have qualified in the online test. The online test will be objective in nature. The details of the same are furnished hereunder.

S.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 60 60

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 a corrected score.

(E) 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 instalments as per a fixed schedule during the 1 year programme (inclusive of course fees, lodging, boarding and other fees, 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.
  • Financing / Loan Options : Selected candidates can finance the course fees by availing Education Loan which will be granted by IDBI Bank as per the existing education loan schemes, if so desired by the applicants.

(F) Emoluments :

Stipend (during the training):

During the Training Period (9 Months) - Rs 2500/- per month.

During the Internship Period (3 Months) Rs 10000/- per month The extant basic pay 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)

(G) Service Bond :

All selected candidates, at the time of their joining the course itself, will have to execute a Service Bond for serving IDBI Bank for a minimum period of 3 years from the date of their joining IDBI Bank's service or shall have to pay an amount of `2 Lakh plus applicable GST. In addition to the payment of `2 Lakh plus applicable GST, in case any candidate leaves the services of IDBI Bank before 3 years of his/her joining, he/she will have to clear his/her outstanding educational loan dues at the applicable card rate, if he/she has opted for education loan from IDBI Bank.