IDBI PGDBF Course Details, Fee, Structure, Stipend

IDBI PGDBF Course Details

IDBI PGDBF Course Details: The Industrial Development Bank of India has released the recruitment notice for Junior Assistant Managers. The bank intends to recruit these from graduates of their PGDBF course. The IDBI Post-Graduate Diploma in Banking and Finance is a prestigious one. This article will explain the basics of the course, the structure, fees, and stipend.

IDBI PGDBF Course Details – Overview

First, let’s take a brief overview of the recruitment notification that IDBI released on 15th September 2023. A total of 600 seats are available for the course. The following table gives a brief account of the notice with essential details.

Particulars	Details
Name of Organization	Industrial Development Bank of India (IDBI)
Official Website	https://www.idbibank.in/
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 Personal Interview

About the IDBI PGDBF Course

IDBI Bank has partnered with Manipal Global Education Services Private Limited (MGES) based in Bengaluru and Nitte Education International Pvt. Ltd (NEIPL) to offer training to aspiring graduates aspiring to join IDBI Bank. This training initiative, known as the Post Graduate Diploma in Banking and Finance (PGDBF), is a one-year program that comprises 6 months of classroom instruction, a 2-month internship, and 4 months of practical On-The-Job Training (OJT) within IDBI Bank’s branches and offices.

This is followed by the selection of the candidates who clear the course into the IDBI Bank. The selected candidates will work as Junior Assistant Managers (Grade O). There will be a one-year probation period following which the candidates will be working on a permanent basis.

IDBI PGDBF Course Fees

The details of the IDBI PGDBF course fees are as follows-

• The IDBI PGDBF course fee is Rs. 3,00,000/- including GST.
• The bank will fix and intimate the schedule of payment of the installments in which the candidates can pay the fees.
• Aside from the fee for the course itself, the overall fee includes lodging, boarding, and other fees as well.
• Candidates will have to bear the fees for the certificate exams they will undergo over the period of the course.
• The bank will reimburse the course fees in five installments once the candidate has completed three years of service to the bank.
• The reimbursement is subject to confirmation of the Bank’s services, satisfactory performance, and appraisal ratings.

IDBI PGDBF Course Structure

The sequence of the IDBI PGDBF course is as follows:

Candidates who clear the IDBI PGDBF exam will first receive classroom training for 6 months. This will be followed by 2 months of internship and 6 months of On-the-Job training at IDBI Banks. Candidates who clear all their exams and evaluations well will clear the course. Those who complete the course will then be selected as Junior Assistant Manager Grade ‘O’.

IDBI PGDBF Stipend

Candidates will receive a stipend during their 1 year of training, however, the stipend will change with progress. The following image will show this.

IDBI PGDBF Career Prospects

Following completion of the course, candidates will then be absorbed as Junior Assistant Managers (Grade ‘O’). There will be a one-year probation period, following which the post will be permanent. You can find further details below:

• 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.

Candidates who complete three years of service to the bank will then be eligible for promotion to Assistant Manager Grade ‘A’. The promotion is subject to performance, availability of vacancies, and other aspects. Promotion is subject to the bank’s decision.

IDBI Junior Assistant Manager – Salary and Allowances

On completion of the course, candidates selected as Junior Assistant Managers will be entitled to Rs. 6.14 to Rs. 6.50 Lakh CTC (Cost to Company). The following allowances will also be provided:

• 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 Course Details – Frequently Asked Questions

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