The Industrial Development Bank of India (IDBI) offers an attractive salary structure for candidates in Executive positions. The IDBI Executive Salary 2023 details, including in-hand salary, salary structure, perks, allowances, and job profile, are provided in this article.
IDBI Executive Salary Overview:
- Organization: Industrial Development Bank of India
- Post Name: Executive
- Vacancy: 1300
- IDBI Executive Salary In Hand: Rs. 29,000/- (In the first Sem)
- IDBI Executive Salary Allowances: DA, Medical, Accommodation, etc.
- IDBI Official Website: www.idbibank.in
IDBI Executive Salary Structure:
Upon successful completion of a 3-year contractual service, appointees become eligible for the position of Assistant Manager (Grade A). The Executive is paid a consolidated remuneration as follows:
- Consolidated Remuneration:
- Rs. 29,000/- per month in the first year
- Rs. 31,000/- per month in the second year
- Rs. 34,000/- per month in the third year of service.
IDBI Executive Salary In Hand 2023:
Candidates receive Rs. 29,000/- as in-hand salary in the first year, increasing in the subsequent years. After 3 years, based on performance, promotion to a permanent level occurs, resulting in a salary increase. The in-hand salary includes basic pay, allowances, and grade pay.
IDBI Executive Perks and Benefits 2023:
In addition to the salary, candidates receive perks and benefits, including DA, HRA, etc.
- Dearness Allowance (DA):
- Based on the Consumer Price Index (CPI), refreshed every quarter. Around 46% of the basic salary, subject to inflation rate fluctuations.
- Accommodation Allowance:
- Provided instead of HRA. IDBI offers official accommodation as rented housing.
- Medical Aid:
- Fixed yearly amount for medical expenses.
- Traveling Allowance:
- Fixed traveling allowance.
- Newspaper Reimbursement:
- Fixed sum towards the cost of one newspaper every month.
IDBI Executive Contractual Period:
The appointment is on a contractual basis for the first year, subject to yearly revision based on performance, completion of e-certifications, and vacancy availability. After 3 years of contractual service, candidates are appointed as Assistant Manager Grade A through a selection process by IDBI Bank.
IDBI Executive Career Growth And Promotion:
IDBI Executive posts offer significant growth and promotion opportunities. The progression includes:
- Assistant Manager (Grade A)
- Manager (Grade B)
- Assistant General Manager (Grade C)
- Deputy General Manager (Grade D)
- General Manager (Grade E)
- Chief General Manager (Grade F)
- Executive Director