ICICI Bank Probationary Officer Recruitment

1. What is the objective of ICICI Bank Probationary Officer recruitment drive?

It is an initiative by ICICI Bank to attract bright graduate students to pursue a career in

banking. It is an attempt to create specialist graduate students with banking

knowledge and skills.

2. How can I apply?

Log on to www.icicicareers.com and fill up the application form online. Test Dates &

Locations will be announced at a later date for which you will get an e-mail/SMS.

3. Which are the locations in which the process is being conducted?

The process is likely to be conducted at the following locations:

PO Location for Aptitude Test/Interview

South West North East

Bangalore Mumbai Chandigarh Ranchi

Chennai Ahmedabad Dehradun Raipur

Coimbatore Nagpur Delhi Patna

Ernakulam Baroda Gurgaon Kolkata

Hyderabad Rajkot Indore Guwahati

Madurai Aurangabad Jaipur Bhubaneshwar

Trivandrum Goa Lucknow

Vizag Bhopal Ludhiana

Mangalore Indore Shimla

Varanasi

Noida

** The above centres are likely to change. The final list of centres will be displayed

once the Venue/Date/Time booking opens.

• Completed graduation with 55% (Aggregate) in any discipline.

• Up to 25 years of age as on May 1, 2011 (should have been born on or after

May 1, 1986)

Only short-listed applicants will be invited for the selection process.

5. Can employees and relatives of ICICI Bank and other ICICI Group companies apply

to the ICICI Bank PO recruitment drive?

Blood relatives (Brother, Sister, Spouse & Children) of ICICI Bank employees cannot

apply. Blood relatives of ICICI Group Companies employees can apply.ICICI Bank Probationary Officer
Recruitment

6. What is the selection procedure?

The selection will be through a multi stage selection process comprising of:

a. Aptitude Test

b. Group Discussion

c. Profiling

d. Interview

7. How will you inform me if I am short listed for the selection process?

Short listed applicants will be intimated by email & SMS. A call letter informing them

about the venue and date of the process will also be sent through e-mail.

** Please ensure that your e-mail address & mobile numbers are updated on

www.icicicareers.com

8. When is the selection process being held?

The Aptitude Test is likely to be held in January 2011 followed by Group Discussions/

Interviews in February 2011 for the applicants who clear the Aptitude Test.

9. What happens after I am selected?

You will undergo a 12-14 months intensive residential classroom training and
internship with a stipend.

The PO training is a “cashless bridge” to managerial jobs for aspiring students.

To pursue the PO training, the interested students will have to invest Rs. 2.75 lacs

which would be provided by ICICI Bank as a subsidized loan at an interest rate of

2.5% p.a. [Service Tax on the loan amount will be paid by the probationary officer].

On successful completion of the training & internship, the POs will be absorbed as

Assistant Managers in the Bank. The EMIs for the loan would start once the POs have

joined the bank. There would be no recovery of EMIs or interest during the training

period, the interest accrued during this period would be recovered along with the

normal EMIs. The EMIs are spread over a period of 60 months to ensure that there is

minimal impact in the monthly earnings of the PO.

On successful completion of 60 months of service, the loan amount would be paid

back to the PO.

However, if the applicant leaves during training / within 5 years of joining ICICI Bank

after training, ICICI Bank would recover the interest at market rate on the entire

loaned amount for the period that the amount was loaned to the PO, plus the

outstanding loan. ICICI Bank Probationary Officer Recruitment

The Loan Agreement will have to be signed by the PO soon after joining the Campus.

However, the PO will have to get the Guarantor form ready before joining the

campus for training.

The gross salary on joining the Bank after training will be more than Rs. 4 Lakhs per

annum.

10. How do I as a PO stand to benefit as far as the cost of training is concerned?

Despite the Rs, 2,75,000/- being paid by the PO, it is a CASHLESS BRIDGE for him

since
• The loan is being extended by ICICI Bank at subsidized interest rate of 2.5 %

p.a.

• No EMIs/Interest will be recovered during the training period when the PO

would be paid stipend/scholarship (Rs. 2500/- during class room training

phase of 9 months & more than Rs. 10,000/- during Internship phase of 3

months) to meet out of pocket expenses.

• The EMI/Interest recovery starts only from the 1

st

salary drawn by the PO on

joining the bank after completion of the training & internship.

• The salary for the PO at the grade that he/she would be joining (Asst.

Manager Band I) has been adequately increased to cater for the payment of

loan EMI of approximately Rs. 4,500/- per month.

• On successful completion of 60 months of service with ICICI Bank, the loan

amount (Rs. 2,75,000) would be paid back to the PO.

11. What would be the implications if I were to leave/resign from the PO training

anytime due to unforeseen circumstances?

If, for any reason whatsoever, you leave during training / leave within 5 years of

joining ICICI Bank after training, ICICI Bank would recover the interest at market rate

on the entire loaned amount for the period that the amount was loaned to the PO,

plus the outstanding loan.

• e.g. PO leaves the after 3 months of joining the training. He would be required

to pay

Rs. 2,75,000 + Interest @ 15 % p.a. for 3 months (15% is the

prevailing market rate of interest)

year training he would be required to pay

Rs. 2,75,000 + Interest @ 15 % p.a. (current market rate) for 16

Months (12 months training + 4 months as employee) – EMIs/Interest

already paid.ICICI Bank Probationary Officer Recruitment

12. Would I be required to pay any other amount?

Yes. If you are selected for the ICICI Bank Probationary Officer you would be required

to Deposit Rs. 5,000/- Admission Security Deposit into ICICI Bank Account before

giving acceptance for the Invitation Letter for the Probationary officer Training. The

procedure for this will be explained in your Invitation Letter. This amount will be

refunded to you on completion of 90 days training at the Academy. However, if you

do not join the training after confirmation or leave the training within 90 days of

joining, this amount will be forfeited.

13. What is the Guarantee that ICICI Bank will give job as Assistant Manager after the

training and Internship?

All the Probationary Officer selects will be given a Job Guarantee letter soon after

joining for Training at ICICI Manipal Academy. Job will guaranteed against the

Probationary officer successfully completing the training and Internship.

14. What would be my Salary once I join the bank after training?

Your gross annual salary on joining the bank will be more than 4 Lakhs (Cost To

Company).

15. Would I be required to sign any agreement for the loan?

Yes. Loan agreement, as is required for any loan that an individual avails from a bank,

would have to be signed. Processing charges/Stamp Duty of approximately Rs. 250/-

or as decided by the bank will have to be paid by you for the agreement.
16. What are the areas in which training will be provided?

Applicants joining the Probationary officer training will be enrolled for MBA in

Banking and Finance. It is a UGC approved program and Manipal University awards

the degree.

Course Duration

MBA (Banking & Finance) course duration is for a period of 30 months (2 ½ years)

with the maximum period for completion being 60 months.

MBA (Banking & Finance) program consists of two phases,

First Phase:

• Comprising of 12 months of On-campus training (9 months of classroom training

& 3 months of internship in ICICI Bank). ICICI Bank Probationary Officer Recruitment

• On successful completion of the first 12 months of training POs will be awarded

the Post Graduate Diploma in Banking from ICICI Manipal Academy.

• On Campus training comprises of Trimester I, II and III and is designed to provide

banking skills to perform effectively in a banking environment.

• On successful completion of the first 12 months of training, the POs will be

absorbed as Assistant Managers in the Bank.

The students are provided with an exit option after successfully completing the first

year of the MBA (Banking & Finance) program. Such students are allowed to exit the

MBA program with a Post Graduate Diploma in Banking (PGDB).

However POs who wish to continue with the MBA (Banking & Finance) program are

allowed to rejoin the MBA (Banking & Finance) program within 6 months of their

completion of PGDB from IMA campus. Such students, by virtue of their being

Assistant Managers working at different branches/locations of ICICI Bank will be

provided their lectures and study materials online.

• Comprising of 18 months of Online Training are designed to provide managerial

skills to the students in a working and business environment.

• Probationary Officers who have chosen to continue with their MBA (Banking &

Finance) program can pursue the second phase along with their job at ICICI Bank.

• Second phase will attracts tuition fees of Rs 1.00 Lakh.

17. When is the training starting?

The training is likely to start in 1

st

week of May 2011 for May Batch.

18. Where will the training be held?

The training will be held in Bangalore or any other location in India as decided by

ICICI Bank.

19. Which functional area, location would the Probationary Officers be placed post

completion of the Training and Internship?

Specialization in a functional area is decided by the Bank based on the prevailing

needs and business requirements. Further the location of posting is decided by the

bank on the basis of business requirements.