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

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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.

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IDBI Executive Perks and Benefits 2023:

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

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  • 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:

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  • 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
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