IDBI Executive Salary 2024, All Details

IDBI Executive Salary 2024: IDBI Executive Salary is one of the factors that motivate the students to go for the IDBI Bank Executive. The bank offers a good salary structure to its executives. After clearing the exam, the candidates are initially appointed on a contractual basis for one year, which can be extended to 2 years. They may be then promoted after 3 years to Assistant Manager (Grade A), based on their performance. They, as executives, receive a starting salary of Rs 29,000 every month. In this article, we will discuss the IDBI Executive Salary and related details like the In-hand, Gross Salary, Perks, Allowances, Benefits and Promotions, and more. Read on to get enlightened about the IDBI Executive Salary 2024,

IDBI Executive Salary 2024 Overview

Before delving into the IDBI Executive Salary 2024, candidates must know about what this post entails. IDBI Executive is appointed on a contractual basis for the 1st year of the recruitment. It will then be revised based on the employees’ performance. If their performance of good and they complete the compulsory e-certificates that are assigned to them, their tenure will be revised keeping in view the available vacancies. After completing the 3 years of contractual service as Executive, they can be appointed as Assistant Manager Grade A. This is done through a selection process conducted by the IDBI Bank. Check out the highlights of the IDBI Executive Salary from the table below:

IDBI Executive Salary 2024 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 2024 In Hand Salary

The in-hand salary in IDBI Executive Salary 2024, will be the amount of money that the IDBI Executive will take home after all deductions. It is calculated using the following formula: In hand Salary = Gross Salary – Deductions. Candidates will receive an in-hand salary of Rs. 29,000 in the first year of their appointment as executives. This figure will increase in the 2nd and 3rd years of the service. They will then be promoted after 3 years of service on the basis of their performance, resulting in an increase in the IDBI Executive Salary. In short, the IDBI Executive salary contains basic pay, allowances, and grade pay.

IDBI Executive Salary 2024 Roles and Responsibility 2024

With the benefits of IDBI Executive Salary 2024 comes the responsibilities that the employees have to fulfill. Here are the roles that the IDBI Executive has to play in his/her daily dealings with the customers of the bank.

1. Acting as a Polite Customer Servant: The executive will have to act as a polite and respected servant of the customers of the bank. He/she will have to handle their queries and offer help at the bank.
2. Managing Customer’s Accounts: They will have to manage customers’ accounts. It includes opening and closing accounts and sorting out related problems.
3. Handling Transactions: Executives will have to handle transactions like deposits, withdrawals, and also the transfer of funds.
4. Selling Bank’s Products and Services: They will also have to promote and sell banking products and also services the bank offers to its customers.
5. Compliance: Executives will also have to make sure that all the banking operations abide by the bank’s policies and regulations.

Therefore, the candidates who dream of a banking job like this will be benefitted in various ways, apart from getting a good IDBI Executive Salary structure.

IDBI Executive Salary 2024 Gross Salary

Gross salary is part of the IDBI Executive Salary 2024. The gross salary is the total amount an IDBI Executive will earn before any deductions. It will include the basic salary and other allowances. It can be calculated using the following formula: Gross Salary= Basic Salary + Allowances. These allowances typically include House Rent Allowance (HRA), Dearness Allowance (DA), Medical Allowance, Special Allowance, and Other allowances (if any). It ranges from Rs. 36,000 to Rs. 63,840 per month. The starting pay is Rs. 56,976 per month, and the maximum salary can increase up to Rs. 84,816 per month.

IDBI Executive Salary 2024 Benefits And Promotions

Besides the benefits of the salary structure of IDBI Executive Salary 2024, the IDBI Executive post also offers other multiple benefits. The employees get getting other perks and allowances as per IDBI norms including DA, HRA, etc. Take a look at the table below to know the benefits that the IDBI Executives will enjoy along with the IDBI Executive Salary.

IDBI Executive Salary 2024 Benefits
Benefit	Details
Dearness Allowance (DA)	46% of basic salary, adjusted quarterly based on Consumer Price Index (CPI).
Accommodation Allowance	Provided as leased accommodation instead of HRA.
Medical Aid	Fixed annual amount for medical expenses.
Traveling Allowance	Fixed traveling allowance provided.
Newspaper Reimbursement	Fixed monthly sum for one newspaper.

IDBI Executive post is also a pathway to growth and promotions. Here are the levels of promotion that the executives will enjoy as dedicated employees of IDBI Bank:

IDBI Executive Salary 2024 Promotions
Promotion Level	Position
1	IDBI Assistant Manager (Grade A)
2	Manager (Grade B)
3	Assistant General Manager (Grade C)
4	Deputy General Manager (Grade D)
5	General Manager (Grade E)
6	Chief General Manager (Grade F)
7	Executive Director

IDBI Executive Salary 2024 FAQs