IDBI Executive Salary, Job Profile, Career Growth
IDBI bank has released the IDBI Recruitment for 300 Executives. Now many aspirants asking a similar question “IDBI Bank a public sector bank or is it private? Is it worth trying for this recruitment process? And if you have similar thoughts going in your mind, then keep on reading this article.
Firstly, on January 21, 2019 LIC of India completed the acquisition of 51% controlling stake in IDBI Bank and making it the majority shareholder of the ban and on March 14 2019, that IDBI Bank stands re-categorized as a Private Sector Bank. Second Being a private sector bank doesn’t mean it’s not a good opportunity. IDBI Bank has released a good number of vacancies: 500 for the post of Assistant Manager, 300 for the post of Executives and 120 for Special Officers. So, we will recommend Every aspirant aiming to start their career in the banking sector should aim for this recruitment as well.
IDBI Executive The appointment of Executive will be on contractual basis. The contract would be initially for a period of 1 year and this may be reviewed for extension on year-to-year basis for a further period of 2 years, subject to satisfactory performance, completion of assigned mandatory e-learning certifications and availability of vacancies.
The Executive will be paid a lump sum/fixed remuneration as per the following chart: Consolidated remuneration Rs.22,000/- per month in the first year, Rs.24,000/- per month in the second year and Rs.27,000/- per month in the third year of service.
- Since this post is contractual in nature, an executive is not eligible to draw any allowances such as Dearness Allowance, House Rent Allowance etc.
- Also, an executive will not get any superannuation and Terminal Benefits for the entire period of 3 years.
- IDBI executive is not eligible for any gratuity and provident fund benefits.
During the contractual period, the applicants can be posted at any branch or offices of the Bank as per the discretion and requirements of the Bank. Applicants could also be posted at IDBI Bank’s discretion, to any offices of IDBI Bank or the departments or offices or business units of IDBI Bank’s subsidiaries or associate institutions.
The appointment being purely contractual in nature, the appointee shall not be entitled for any superannuation benefits whatsoever. Also, appointee shall not be entitled for any gratuity and provident fund benefits.
However, the Executives would be covered under IBLNPS Rules, 2011. The contractual period of service would not be counted for any superannuation/ terminal benefits, in case, the appointee is considered for appointment in the services of IDBI Bank as a regular full-time employee at a later stage.
On successful completion of a period of 3 years of contractual service, such appointees may become eligible for appointment as Assistant Manager (Grade A‟) in IDBI Bank through a selection process that would be conducted by IDBI Bank.
After selection as an executive, a candidate can be offered any one of the two job profiles:
1) Customer service Executive (CSE) – A customer service executive is responsible for handling the front desk. A CSE has to deal with operations such as cheque clearance, any change in contact/address details updation, clearing of bank suspense accounts at the end of the day. A CSE also has sale targets. This job profile also includes the work of assisting the Assistant Manager.
2)Teller service Executive (TSE) – A teller service executive has the job responsibilities same as a Bank Cashier. He/she is responsible for handling the teller counter.
- The selection of the candidates in IDBI Bank as an executive is contractual in nature.
- Initially, the contract will be for a period of one year.
- If your performance is satisfactory for the first year, then this contract may be reviewed for two more years on a year to year basis.
- Your performance will be reviewed after every year. This clearly means that your stay in the bank will solely depend on your performance.
- On completion of 3 years of the contractual period, the performance of executive will be evaluated again and he/she may get the post of Assistant Manager on the basis of satisfactory performance.
- This promotion will be done on the basis of an internal exam or any other mode of the selection process in IDBI Bank.
- Your performance in the last 3 years and your Performance Appraisal Report play the key role in your promotion as an Assistant Manager.