IDBI PGDBF Salary 2023
IDBI PGDBF Salary: The Industrial Development Bank of India (IDBI) is inviting applications for the Post Graduate Diploma in Banking and Finance. The IDBI bank will train the candidates and give them the opportunity to intern and learn on the job. The following article will provide all the information about the course, the stipend provided, the benefits and career growth prospects.
IDBI PGDBF Salary – Overview
The IDBI Bank in collaboration with a number of institutions is providing training to prospective graduate candidates who wish to join IDBI Bank. The program of Post Graduate Diploma in Banking and Finance (PGDBF), will be a one-year course. It will consist of 6 months of classroom study, 2 months of internship, and 4 months of On-The-Job Training (OJT) at IDBI Bank’s own branches/offices. The following table will give a brief overview of recruitment.
|Name of Organization||Industrial Development Bank of India (IDBI)|
|Post||Junior Assistant Manager|
|No. of Vacancies||600|
|Application Start Date||15 September 2023|
|Application End Date||30 September 2023|
|Exam Date||20 October 2023|
|Admit Card Release Date||To be notified|
|Mode of Exam||1. Phase I- Online Test- Online Mode 2. Phase-II- Personal Interview- Offline Mode|
|Selection Process||Online Test|
IDBI PGDBF Course Fees
Here are some important points about the IDBI PGDBF Course Fees-
- The fee for the IDBI PGDBF program is Rs. 3,00,000/- including GST.
- Candidates can pay the fees in installments over the course of 1 year, and the Bank will fix and intimate the schedule of payment.
- The fees will include course fees, lodging, boarding and other fees, etc.
- Fees for the certificate exams that the candidates will undergo during the program will have to be borne by the candidates.
- On completion of three years of service to the bank, the bank will reimburse the candidates’ course fees in five installments.
- The reimbursement is subject to confirmation of the Bank’s services, satisfactory performance, and appraisal ratings.
IDBI PGDBF Salary
Candidates will receive a stipend for the one-year program. Following the clearance of the program, they will begin to receive their salary for Jr. Assistant Manager post as follows.
- The candidates who clear the test and interview and join the program will receive a stipend of ₹5000/- per month during the training period of 6 months. For the internship period of 2 months, candidates will receive a stipend of ₹15,000.
- Candidates clearing the PGDBF course and successfully joining the bank will receive compensation (CTC) ranging between Rs.6.14 lakh to Rs.6.50 lakh (Class A city) at the time of joining.
IDBI Junior Assistant Manager Allowances
Those who clear the course and are absorbed by IDBI as Junior Assistant Managers will be entitled to the following allowances.
- Grade “O” officers shall be eligible for –
- TA/HA, local conveyance
- Subsidized lunch facility
- Visiting Officer Facility in line with facilities/limits applicable to Grade ‘A’ officers of the Bank.
- However, any other allowances, performance-linked variable pay, staff loans, perquisites, benefits, and other facilities that are applicable to other full-time employees of the Bank shall not be admissible.
- Annual increment shall be granted based on performance or any other parameters as decided by the Bank from time to time.
IDBI PGDBF Career Prospects
Grade “O” officers shall be eligible for promotion to Grade ‘A’ on completion of 3 years of service, as per Bank norms, subject to performance, availability of vacancies and other criteria which will be as stipulated in the Bank’s Promotion Policy as amended from time to time.
IDBI PGDBF Probation Period and Posting
Probation Period: Candidates who are selected for the Grade O position will be on probation for a period of 1 year from the date of joining. This probation period may be extended at the discretion of the bank.
Posting: The candidate will be posted at the Bank’s discretion, to any offices of the Bank or the departments/offices/business units / the Bank’s associate institutions. The candidate 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.
IDBI Junior Assistant Manager Service Bond
The candidates who clear the IDBI PGDBF course and are selected as Junior Assistant Managers will enter a service bond of three years will the IDBI bank. In the event of any officer leaving in the middle of the three years, they will be liable to pay 2 Lakhs plus taxes to the bank. If the candidate has taken an education loan from the bank, they will have to clear that too before they leave.
IDBI PGDBF Salary – Frequently Asked Questions
A1. Candidates who get selected for the IDBI PGDBF course do not receive salary. Instead they receive a stipend of Rs. 5000 for the first six months. Following this they’ll receive a stipend of Rs. 15,000 for the next six months.
A2. The IDBI Junior Assistant Manager probation period is 1 year.
A3. Yes, IDBI Junior Assistant Manager has a service bond of 3 years.
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I write content to help people prepare for banking exams because I have experience as an aspirant myself. My goal is to provide accurate and easy-to-understand information for candidates. I cover various topics such as exam patterns, syllabus, study techniques, and time management to support those preparing for the exams. As a former aspirant turned content writer, I want to make the information accessible and helpful for others so that they can do well in their banking and government exams and achieve their goals.