This question is bugging many banking aspirants after IDBI Bank released its official notification for the recruitment of Assistant Managers. Many aspirants are confused is IDBI Bank a public sector bank or is it private? Is it worth trying for this recruitment process? If you have similar thoughts in mind, then keep on reading because here we’ll discuss all such queries…
Let us deal with the first question, is IDBI Bank a public sector bank or is it private?
We’ve received a lot of emails from our readers asking clarification on this, and the answer to this question is IDBI Bank is now a Private Sector Bank. This might not be pleasant for you to know if you were expecting it to be a public sector bank but RBI categorizes IDBI Bank as private sector lender with effect from January 21, 2019.
LIC of India completed the acquisition of 51% controlling stake in IDBI Bank on January 21, 2019 making it the majority shareholder of the bank. Subsequent to the enhancement of equity stake by LIC of India on January 21, 2019, Reserve Bank Of India has clarified vide a Press Release dated March 14, 2019, that IDBI Bank stands re-categorized as a Private Sector Bank, with retrospective effect from January 21, 2019.
Now the burning question, Is it worth trying for this recruitment process?
Being a private sector bank doesn’t mean its not a good opportunity. IDBI Bank has released a good number of vacancies: 600 for the post of Assistant Manager. Every aspirant aiming to start their career in the banking sector should definitely aim for this recruitment as well.
So, YES, YOU SHOULD GO FOR IT!! Don’t miss out this chance to start your career in the banking industry. And if you are wondering about how to practice and begin your preparation? then Adda247 has launched latest pattern based mock test series and books kits for IDBI 2019 Recruitment. Click Here to Check Mock Test and Books for IDBI 2019 Recruitment.