• Written By Zeshan Naz
  • Last Modified 27-01-2023

IDBI Salary: Check IDBI Assistant Manager Allowances, Job Profile & Career Growth


IDBI Salary 2021: An IDBI job is one of the most prestigious careers in India. The banking body provides you with all the good reasons to work here – from great social status to immense growth opportunities, IDBI’s Assistant Manager position keeps you well covered. The banking body also provides you with a great package and a good pay scale. IDBI pay scale keeps you monetarily secured and well off. IDBI salary for Assistant Manager covers the allowances and perks of the officials. It is to be noted that the IDBI salary may be revised on a timely basis or as applicable to provide the candidates with the best package possible.

IDBI Salary 2021

The total IDBI salary comprises of basic pay plus other allowances as admissible to the Assistant Managers from time to time. The existent basic pay applicable to the Officers in Grade ‘A’ is Rs 23700/- per month in the pay scale of Rs 23700-980(7)-30560-1145(2)-32850-1310(7)-42020(17 years). The pay scale, reimbursements, allowances, perquisites and other terms subsisting at the time of joining and as may be revised from time to time would be applicable. The gross IDBI salary for Assistant Manager Grade ‘A’ at the metro center is Rs 60000/- per annum (approx). The officials are also entitled to other facilities or benefits from time to time.

IDBI Salary Structure

Apart from the basic pay of Rs 23,700 included in IDBI salary for Assistant Manager, the applicant’s IDBI salary will also include the following allowances:

Dearness Allowance (DA)The Dearness Allowance is calculated based on the Consumer Price Index (CPI) and is revamped every quarter. DA can be around 46 percent of the basic pay. But, it can alter or go up and down based on inflation.
Accommodation AllowanceThis facility is available in place of HRA. IDBI will provide the official accommodation as a leased accommodation.
Medical AidIDBI pays a fixed annual amount to meet medical expenses.
Travelling AllowanceIDBI provides a fixed travelling allowance.
Newspaper ReimbursementThe bank pays a fixed amount towards the cost of one newspaper on a monthly basis.

IDBI Salary: Terms of Appointment and Posting

The initial appointment for Assistant Manager will be on probation for a period of one year from the date of joining. Applicants will be posted at the bank’s discretion, to any offices of IDBI or IDBI’s associated institutions. The applicant will also be liable to be transferred to any place in/outside India, as IDBI may decide from time to time in terms of the bank’s prevailing rules.

IDBI Salary: Roles And Responsibilities

Along with a good package and well-decided allowances, IDBI provides certain perks and benefits to its Assistant Managers. The perks of being an IDBI Assistant Manager are:

  1. IDBI provides a social status
  2. Working at IDBI provides great growth opportunities
  3. Stabilizes the financial graph and provides monetary security

Being an IDBI Assistant Manager is not easy. It calls for sudden hurdles and obstruction. But In spite of all this, you need to keep moving. The obstructions are for your own learning. It helps you don the cap of responsibility and take up uncalled and ad-hoc works efficiently. Below are some of the IDBI Bank Assistant Manager job responsibilities:

a) Lending Services to the Customers- The most important job of an Assistant Manager is to handle the customers. The primary work of the officers is to solve any sort of queries put up by the customers. It can be any query, ranging from issuing cheque books, opening new accounts, ATM cards, document requirements, etc.

b) Multitasking- From supervising the clerical work to taking decisions for the benefits of the banking body to managing managerial tasks, an IDBI Assistant Manager handles it all!

c) Financial Works- The tasks include reaching out to customers to know their credit requirements, disbursing loans, recovery of loans from defaulters, and presenting reports to the higher executives on the development made.

d) Handling Desk Works- An IDBI Assistant Manager also supervises all the desk/clerical work like managing types of deposits and withdrawal of cash.

e) Creation of Business- On the marketing front, an Assistant Manager also promotes or markets banking products, the opening of a new account, selling insurance, etc. Promoting several products and services of the bank and its partners such as mutual funds, fixed deposits, etc.

f) ATM Related Solutions- An Assistant Manager looks into the queries related to lost ATM application, new ATM request, block ATM card online, ATM pin number, etc.

Overall, an IDBI Assistant Manager is the face of the branch. The official is the one stop solution to all the issues and queries of junior employees and customers. The position of Assistant Manager is a great responsibility conferred upon an individual.

IDBI Salary: Promotions And Career Opportunities

The IDBI Assistant Manager is of a Grade ‘A’ rank. If an individual fulfills all the responsibilities laid upon by the bank and plays his role efficiently, he will surely be in a position to get promoted to the various other senior management posts as follows:

  1. Manager Grade B
  2. Assistant General Manager Grade C
  3. Deputy General Manager Grade D
  4. General Manager Grade E

Depending on one’s track record and sufficient experience in the bank, an individual will be eligible for the coveted Executive Director position before retirement.

The typical IDBI Bank Assistant Manager Salary can range from Rs 23,700- Rs 65,000 based on the IDBI salary reports. The IDBI pay structure is considered as one among the best after SBI and its associate banks. The pay scales go under constant revision to compensate for the inflationary pressures.

After knowing the complete IDBI salary structure, you have a good reason to study and score well in the exam. You need to have a good IDBI preparation to give shape to your study. Revision, Practice and Mock tests are the pillars to a great preparation ahead. Revise regularly. Practice previous year papers often. As the IDBI exam pattern is common to most of the banking exams, you can take Bank Mock Test on Embibe to evaluate your preparation.

Frequently Asked Questions

Q. What is salary of assistant manager in IDBI Bank?
The basic pay is INR 23,000, while the monthly in-hand salary would be around INR 25,000 to INR 30,000. The gross salary for IDBI Bank Assistant manager ranges from INR 55000 to INR 60000 per month.
Q. What is IDBI Bank PO Salary?
Probationary Officer Salaries at IDBI Bank can range from Rs.13, 777-Rs. 15,090.
Q.What is the career growth for an IDBI Assistant Manager?
The career growth for an IDBI Assistant Manager is as follows:
IDBI Assistant Manager Grade A > Manager (Grade B) >Assistant General Manager (Grade C) >Assistant General Manager (Grade D) >Deputy General Manager (Grade D) >General manager (Grade E)
Q. What other allowances or perks are offered to an IDBI Assistant Manager?
Along with the basic pay, candidates are provided with Dearness Allowance, Accommodation Allowances, Medical Aid, Travelling Allowance,Newspaper Allowance.
Q. Is IDBI Bank Govt or private?
Reserve Bank of India clarified, via a press release dated 14 March 2019, that IDBI Bank stands re-categorized as a Private Sector Bank for regulatory purposes with effect from 21 January 2019.

If you have any query with this article on IDBI Salary, do let us know about it in the comment section below and we will get back to you soon.

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