AIC Management Trainee (Finance & Investment) Recruitment 2023 - Notification Details
Agriculture Insurance Company of India (AIC) has released a notification for the recruitment of Management Trainees in Finance & Investment for the year 2023. The recruitment is for a total of 10 vacancies, and the training period will be one year. The selected candidates will receive a consolidated pay of Rs. 60,000/- per month during the training period. The Management Trainees will be absorbed as Administrative Officer (Scale I) after the completion of the training period and will be on probation for a period of one year from the date of absorption. The probation period may be extended by a further period of six months.
The selection process for AIC Management Trainee Recruitment 2023 will be based on a written examination and/or interview to be conducted by the Company. The written examination will have professional knowledge questions with 80% weightage and aptitude questions of 20% weightage. The minimum qualifying marks in the written examination are 60% for General, OBC & EWS and 55% for SC/ST candidates. The shortlisted candidates will be called for an interview to be conducted by the Company. The final selection will be based on the performance in the written examination and/or interview, subject to the fulfillment of eligibility criteria.
Notification Details | |
|---|---|
Organisation Name | Agriculture Insurance Company of India Limited (AIC) |
Recruitment Exam Name | AIC Management Trainee (Finance & Investment) Recruitment 2023 |
Post Notified | Management Trainee (Finance & Investment) |
Recruitment Type | Regular |
Recruitment Category | Banking & Insurance Jobs |
Salary / Pay Scale for Management Trainee (Finance & Investment) in AIC
As per the official notification, the selected candidates for the AIC Management Trainee (Finance and Investment) Recruitment 2023 will be paid a consolidated pay of Rs. 60,000/- per month during the training period of one year.
After completion of the training period, the Management Trainee (Finance and Investment) will be absorbed as Administrative Officer (Scale I) and will be treated at par with a Direct Recruit Officer in Scale I.
During the probation period of one year from the date of absorption, the selected candidates will be on probation, which may be extended by a further period of six months. On absorption as Administrative Officer (Scale I Officer), the emoluments will be fixed in the scale of pay of Rs. 50,925-2500(14)-85,925-2710(4)-96,765 plus such other increment / allowance like DA, HRA, CCA etc. as may be admissible under the rules, in force, from time to time and subject to revision of the pay scales, if any. The total emoluments will be approximately Rs. 84,000/- per month in ‘A’ Class city plus other benefits. These benefits include New Pension Scheme, Special Allowance for passing Actuarial Examination, Gratuity, LTC, Medical Lumpsum, Group Mediclaim, Group Personal Accident Insurance, Vehicle Loan, Meal coupon, cost of Briefcase/leather bags, mobile handset, Newspaper, mobile expenses, etc. as per rules.
The Management Trainee (Finance and Investment) who are selected for absorption in Administrative Officer (Scale I), before joining as probationer will be required to give an undertaking-cum-Guarantee Bond to serve the Company for a minimum period of Three (03) years including the probation period of 1 year. In the event of their resigning from the Company or making it obligatory on the part of the Company to terminate the employee before the expiry of the bond period, they will be liable to pay liquidated damages equivalent to consolidated pay received during the training period of one year, which will be proportionately reduced depending on the length of service rendered.
Benefits of Joining AIC as Management Trainee (Finance & Investment)
There are numerous benefits of joining AIC as a Management Trainee (Finance and Investment). Firstly, it is an opportunity to work with one of the leading insurance companies in India and gain valuable experience in the financial sector. The company offers a comprehensive training program that aims to develop the skills and knowledge of trainees and prepare them for future leadership roles.
Secondly, the pay scale offered during the training period is highly competitive, with a consolidated pay of ₹ 60,000 per month. Upon completion of the training period, successful candidates are absorbed as Administrative Officers (Scale I) and receive emoluments in the scale of pay of Rs. 50,925-2500(14)-85,925-2710(4)-96,765, plus additional allowances such as DA, HRA, CCA, and more. The total emoluments are approximately Rs. 84,000 per month in ‘A’ Class cities.
Moreover, the company provides various benefits to its employees, such as New Pension Scheme, Special Allowance for passing Actuarial Examination, Gratuity, LTC, Medical Lumpsum, Group Mediclaim, Group Personal Accident Insurance, Vehicle Loan, Meal coupon, cost of Briefcase/leather bags, mobile handset, Newspaper, mobile expenses, etc. Additionally, Management Trainees who are selected for absorption in Administrative Officer (Scale I) are required to give an undertaking-cum-Guarantee Bond to serve the company for a minimum period of three years, which offers stability and security to employees.
Lastly, working with AIC provides a platform to enhance your professional network and gain exposure to different industries and domains. The company offers ample opportunities for career growth and advancement, with a performance-based promotion system. Joining AIC as a Management Trainee (Finance and Investment) is an excellent opportunity for aspiring finance professionals to jumpstart their careers and achieve their professional goals.
Vacancy Details for AIC Management Trainee (Finance & Investment) Recruitment 2023
The AIC Management Trainee (Finance and Investment) Recruitment 2023 has announced ten vacancies for the post of Management Trainee. The recruitment notification has been released by Agricultural Insurance Company of India, which is a leading insurance company in India.
Interested and eligible candidates can apply for the AIC Management Trainee (Finance and Investment) Recruitment 2023 on or before 6th March 2023.
Educational Qualification / Eligibility Criteria for AIC Management Trainee (Finance & Investment) Recruitment2023
Discipline wise educational qualification / eligibility criteria details are provided in the table below –
Post & Discipline | Educational Qualification / Eligibility Criteria |
|---|---|
Management Trainee (Finance) | Qualified Chartered Accountant of ICAI and Graduation in Commerce from a recognized University/Institution/Board recognized by Govt. of India/ approved by Govt. Regulatory Bodies with minimum 60% (55% for SC/ST) marks |
Management Trainee (Investment) | Qualified Chartered Accountant of ICAI or CFA Level 2 Passed or FRM L1 and Graduation in Commerce from a recognized University/Institution/Board recognized by Govt. of India/ approved by Govt. Regulatory Bodies with minimum 60% (55% for SC/ST) marks |
Age Limit for AIC Management Trainee (Finance & Investment) Recruitment 2023
For Management Trainee (Finance and Investment) in AIC, Minimum Age is 21 Years and Maximum Age is 30 years i.e. a candidate must have been born not earlier than 2 nd February 1993 and not later than 01st February 2002 (both dates inclusive).
Relaxation of 3 years for OBC (Non-Creamy Layer) and 5 years for SCs/STs and 10 years for PWD candidates. Age relaxation for SC/ST/OBC (Non-Creamy Layer)/PWD/Ex-Servicemen candidates as per DOPT guidelines. In case of a candidate who is eligible for relaxation under more than one category, the age relaxation will be available on a cumulative basis based on Government guidelines and Company Rules subject to the maximum age not exceeding 45 years.
Selection Process for Management Trainee (Finance & Investment) in AIC
The selection process for the AIC Management Trainee (Finance & Investment) vacancy will include a written examination and/or interview, which will be determined by the Company based on the number of applications received. The written examination will consist of professional knowledge questions carrying 80% weightage and aptitude questions carrying 20% weightage. The minimum qualifying marks in the written examination are 60% for General, OBC & EWS candidates and 55% for SC/ST candidates. Candidates who qualify the written examination will be ranked in order of merit and invited for an interview. The Company may relax or extend the eligibility standards to restrict the number of candidates called for the interview based on performance in the written examination and number of vacancies. If a written examination is not conducted, shortlisting of eligible candidates will be done based on preliminary screening, and they will be called for a personal interview. Shortlisting will be provisional based on the details provided in the application form without verification of documents.
Application Fees for AIC Management Trainee (Finance & Investment) Recruitment 2023
Application fee for AIC Management Trainee (Finance & Investment) Recruitment 2023 is ₹ 100/- for SC/ST/PwBD candidates and ₹ 500/- for All Other candidates.
Important Dates for AIC Management Trainee (Finance & Investment) Recruitment 2023
Important dates for AIC Management Trainee (Finance & Investment) Recruitment 2023 are provided in the table below –
Description | Date |
|---|---|
Date of Notification | 17.02.2023 |
Starting Date of Online Application | 17.02.2023 |
Last Date of Online Application | 06.03.2023 |
Download Official Notification & Apply Online Link for AIC Management Trainee (Finance & Investment) Recruitment 2023
Detailed official notification and online application link for AIC Management Trainee (Finance & Investment) Recruitment 2023 are provided in the table below –
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