IDBI Executive Salary 2023: Pay Scale, Job Profile, Perks

The Industrial Development Bank of India (IDBI) offers an attractive salary structure for candidates in Executive positions. The IDBI Executive Salary 2023 details, including in-hand salary, salary structure, perks, allowances, and job profile, are provided in this article.

IDBI Executive Salary Overview:

• Organization: Industrial Development Bank of India
• Post Name: Executive
• Vacancy: 1300
• IDBI Executive Salary In Hand: Rs. 29,000/- (In the first Sem)
• IDBI Executive Salary Allowances: DA, Medical, Accommodation, etc.
• IDBI Official Website: www.idbibank.in

IDBI Executive Salary Structure:

Upon successful completion of a 3-year contractual service, appointees become eligible for the position of Assistant Manager (Grade A). The Executive is paid a consolidated remuneration as follows:

• Consolidated Remuneration:
  • Rs. 29,000/- per month in the first year
  • Rs. 31,000/- per month in the second year
  • Rs. 34,000/- per month in the third year of service.

IDBI Executive Salary In Hand 2023:

Candidates receive Rs. 29,000/- as in-hand salary in the first year, increasing in the subsequent years. After 3 years, based on performance, promotion to a permanent level occurs, resulting in a salary increase. The in-hand salary includes basic pay, allowances, and grade pay.

IDBI Executive Perks and Benefits 2023:

In addition to the salary, candidates receive perks and benefits, including DA, HRA, etc.

• Dearness Allowance (DA):
  • Based on the Consumer Price Index (CPI), refreshed every quarter. Around 46% of the basic salary, subject to inflation rate fluctuations.
• Accommodation Allowance:
  • Provided instead of HRA. IDBI offers official accommodation as rented housing.
• Medical Aid:
  • Fixed yearly amount for medical expenses.
• Traveling Allowance:
  • Fixed traveling allowance.
• Newspaper Reimbursement:
  • Fixed sum towards the cost of one newspaper every month.

IDBI Executive Contractual Period:

The appointment is on a contractual basis for the first year, subject to yearly revision based on performance, completion of e-certifications, and vacancy availability. After 3 years of contractual service, candidates are appointed as Assistant Manager Grade A through a selection process by IDBI Bank.

IDBI Executive Career Growth And Promotion:

IDBI Executive posts offer significant growth and promotion opportunities. The progression includes:

• Assistant Manager (Grade A)
• Manager (Grade B)
• Assistant General Manager (Grade C)
• Deputy General Manager (Grade D)
• General Manager (Grade E)
• Chief General Manager (Grade F)
• Executive Director