The Industrial Development Bank of India (IDBI) has recently released a recruitment notification for the post of Junior Assistant Manager Grade ‘O.’ This recruitment drive offers an exciting opportunity for graduates seeking a managerial role within the banking sector. The notification specifies a total of 600 vacancies for this position, making it a significant opportunity for aspirants.
IDBI Junior Assistant Manager Recruitment 2023
IDBI has commenced the application process from September 15, 2023. Successful candidates who clear the IDBI Junior Assistant Manager selection process will undergo a specialized training and internship period. Here is an overview of the salary structure for IDBI Junior Assistant Manager 2023.
IDBI Junior Assistant Manager Salary
During the initial six-month training period, candidates will receive a monthly stipend of Rs. 5,000. Following the training phase, during the subsequent two-month internship, the stipend will increase to Rs. 15,000 per month. Once candidates successfully complete this probationary period and officially assume the role of Junior Assistant Manager Grade ‘O’ (JAM Grade ‘O’), their full-time salary will range from Rs. 6.14 lakh to Rs. 6.50 lakh in Class A cities. In other words, upon becoming full-time Junior Assistant Managers, their annual salary will fall within this salary bracket.
IDBI Junior Assistant Manager Salary 2023: Overview
- Organization: Industrial Development Bank of India
- Post: Junior Assistant Manager
- Category: Salary
- Vacancy: 600
- Junior Assistant Manager Salary 2023: Rs. 6.14 lakh to Rs. 6.50 lakh
- Official Website: IDBI Bank Official Website
IDBI Junior Assistant Manager Salary 2023 Details
The IDBI Junior Assistant Manager Salary 2023 will come into effect once the candidates have been inducted into the bank. Here are the salary details from trainee to Junior Assistant Manager. It’s important to note that the bank reserves the right to recover the stipend from candidates who exit during the course or before joining the bank’s service.
- During the Training Period (6 Months): Rs. 5,000 per month.
- During the Internship Period (2 Months): Rs. 15,000 per month.
Upon the successful completion of the 8-month training program, comprising both training and internship phases, and obtaining the Post Graduate Diploma in Banking and Finance (PGDBF), candidates will be absorbed into the bank. They will begin as On-Job Trainees (OJT) for an initial period of 4 months and may be assigned to any of the bank’s branches or offices based on operational requirements.
Upon joining the bank’s services as Junior Assistant Manager (Grade ‘O’) and successfully completing the PGDBF course, the compensation (CTC) is expected to range between Rs. 6.14 lakh to Rs. 6.50 lakh for candidates posted in Class A cities at the time of joining.
IDBI Junior Assistant Manager Allowances
According to the IDBI Junior Assistant Manager 2023 Notification, Grade ‘O’ officers will be eligible for various benefits, including:
- Travel Allowance
- Halting Allowance
- Local Conveyance Allowance
- Subsidized Lunch Facility
- Visiting Officer Facility
It’s important to note that Grade ‘O’ officers will not be eligible for certain allowances, performance-linked variable pay, staff loans, perquisites, benefits, and other facilities applicable to other full-time bank employees.
IDBI Junior Assistant Manager Career Growth
As per the official notification, annual increments for IDBI Junior Assistant Managers will be granted based on performance or other parameters determined by the bank. Additionally, Grade ‘O’ officers may be considered for promotion to Grade ‘A’ after completing 3 years of service, subject to performance, vacancy availability, and other criteria outlined in the Bank’s Promotion Policy, which may be updated periodically.