IDBI Junior Assistant Manager Salary 2023, Structure, Perks and Allowances

IDBI Junior Assistant Manager Salary 2023

The Industrial Development Bank Of India has published the recruitment notification for the post of Junior Assistant Manager Grade ‘O’. A total number of 600 vacancies have been enlisted by the organization. Even the following organization has mentioned the salary structure of the post to be very appealing. So, candidates who wants to apply for the post can be highly benefited from this sector.  The Industrial Development Bank of India, or IDBI will recruit candidates who have finished a special course called IDBI PGDBF (Post Graduate Diploma in Banking and Finance) for one year. In this article, we will make you aware of the salary structure and efficient benefits related to the IDBI Junior Assistant Manager Salary 2023. The lucrative effects of  IDBI Junior Assistant Manager Salary 2023 is one of the attractive aspects of this job title.

IDBI Junior Assistant Manager Recruitment 2023

IDBI Junior Assistant Manager Salary

IDBI has started accepting the application form from 15 September 2023. Candidates who will successfully clear the IDBI Junior Assistant Manager selection process will go through a specific training and internship process. Initially, during the 6-month training period, they will receive a monthly stipend of Rs. 5,000. After this training, during the 2-month internship, the stipend will increase to Rs. 15,000 per month. Once candidates successfully complete this probation period and are officially appointed as 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. This means that upon becoming a full-time Junior Assistant Manager, their annual salary will fall within this salary range.

IDBI Junior Assistant Manager Salary 2023: Overview

The IDBI Junior Assistant Manager Recruitment is a good opportunity for candidates looking to get a degree in Post Graduate Diploma in Banking and Finance as well as join IDBI Bank. Here is a brief overview of the salary for IDBI Junior Assistant Manager 2023.

IDBI Junior Assistant Manager Salary 2023

The IDBI Junior Assistant Manager Salary 2023 will start after the candidates have been observed in the bank. Here are the details on the salary from trainee to Junior Assistant Manager. Please 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.

Stipend Details:

• During the Training Period (6 Months): Rs. 5,000 per month.
• During the Internship Period (2 Months): Rs. 15,000 per month.

Upon successful completion of the 8-month training program (comprising Training and Internship) and the Post Graduate Diploma in Banking and Finance (PGDBF) course, candidates will be absorbed into the bank. They will start as On-Job Trainees (OJT) for an initial period of 4 months and may be posted at any of the bank’s branches or offices based on operational requirements.

After 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

As per the IDBI Junior Assistant Manager 2023 Notification Grade “O” officers will be eligible for certain benefits such as :

1. Travel Allowance
2. Halting Allowance
3. Local Conveyance Allowance
4. Subsidized lunch Facility
5. Visiting Officer Facility

Note that Grade “O” officers will not be eligible for certain allowances, performance-linked variable pay, staff loans, perquisites, benefits, and other facilities that are applicable to other full-time employees of the bank.

IDBI Junior Assistant Manager Career Growth

As per the official notification, annual increments to IDBI Junior Assistant Managers will be granted based on their performance or any 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, the availability of vacancies, and other criteria outlined in the Bank’s Promotion Policy, which may be amended from time to time.