The Industrial Development Bank (IDBI) of India has released the Assistant Manager notification for 500 vacancies on its official website. The interested candidates who were eagerly waiting for the IDBI notification in order to check the IDBI Assistant Manager Salary can be at ease now. Keep reading this post to know more about the IDBI Assistant Manager Salary.
IDBI Assistant Manager Salary Structure
The IDBI Bank Assistant Manager salary basic pay will be huge in 2022, as allowances will be added to the IDBI Assistant Manager Grade A Salary 2022. If a person is employed as an IDBI Assistant Manager, then-
- If posted in Tier-3 City – annual CTC will be 9 Lakhs.
- If posted in Metro City – annual CTC will be 12 Lakhs
Download IDBI Assistant Manager Notification PDF
| Tenure | Time Period | Amount Paid (per month) |
|---|---|---|
| Training Programme (classroom training) | 9 Months | Rs. 2,500 |
| Internship/On-the-Job Training | 3 Months | Rs. 10,000 |
| Basic Pay | Full-time | Rs. 36,000 |
| Pay Scale | Full-time | 36000-1490(7)-46430-1740 (2)–49910–1990(7)-63840 (17 years) |
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IDBI Assistant Manager Salary – Available Perks
Candidates interested in working as an Assistant Manager at IDBI Bank should be familiar with the benefits and pay packages that are included in the IDBI Assistant Manager Salary.
| Perks | Details |
|---|---|
| Dearness Allowance (DA) | The Consumer Price Index (CPI) is used which is modified on a quarterly basis. The DA is around 46% of the base pay, however it might increase or decrease depending on the rate of inflation. |
| Accommodation Allowance | Instead of HRA, this is accessible. |
| Traveling Allowance/ Conveyance Allowance | A fixed allowance for traveling is provided. |
| Mobile Allowance | A fixed amount of Rs. 600 is given. |
| TA/DA | TA/DA is given, if work visit is official |
| Medical Aid Allowance | A fixed yearly add-up is paid as medical allowance. |
| Medical Facilities | Employee & their dependents are allowed to get the medical facilities |
| Newspaper Reimbursement Perk/ Learning Allowance | A regular fixed amount is paid for one paper under this perk. |
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IDBI Bank Assistant Manager Salary – Training Duration & Fee
Candidates who are shortlisted after qualifying the written examination and personal interview for IDBI Assistant Managers will be required to complete a one-year training programme after which they will be paid the full IDBI Assistant Manager Salary 2022. However, the shortlisted candidates are required to pay a fee of Rs. 3.5 Lakhs, i.e., Rs. 30,000 per month. This is the cost of boarding, lodging and course fee which also includes the study material of the classroom training. If the candidate is unable to pay this fee due to financial constraints, then IDBI Bank provides a loan to the candidates.
- Installments are available.
- Amount of repayment of the loan depends on the interest rate that is applicable at that time.
- The repayment will start once the candidate joins IDBI as an Assistant Manager and get their salary.
- During the course period, no amount is required to be repaid.
- If a candidate fails to serve the IDBI Bank as Assistant Manager for at least 3 years, then the candidate will have to pay Rs. 2,00,000 as bond as well as the outstanding loan.
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IDBI Bank Assistant Manager Salary – Growth in Career
If the IDBI Assistant Managers (Grade A)fulfill all of the duties assigned to them by the bank and do well in their job, then such managers will be eligible for promotion to several senior management positions.
- Managerial Position – Grade B
- Assistant General Manager – Grade C
- Assistant General Manager / Deputy General Manager – Grade D
- General Manager – Grade E
- Before retiring, an employee will be qualified for the desired Executive Director post based on their expertise and engagement with the bank.
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The basic pay of an IDBI Assistant Manager is Rs. 36,000/month. (Please note, basic pay is not the initial salary).
Questions on Logical Reasoning, Data Interpretation & analysis, English language, Quantitative aptitude & General awareness are asked in the 90 mins. exam of IDBI assistant manager.
Yes, IDBI Assistant Managers can apply for Scale II/ Scale III posts in Regional Rural Banks or CBO vacancies in SBI or any other organization if they are employed as Managers with Scale I experience.
Yes, the IDBI assistant manager job is permanent after an internship period with an amazing career growth. Please check above in this post for more details.
The selection is based on the written as well as the PI round.