Indian Bank Apprenticeship - 1500 vacancies - Benefits - Stipend - Selection Process - All Explained

Indian Bank is hiring Apprentices under the Apprentices Act, 1961, for its financial year 2024-25. It has released notification for this recently. But what is an apprenticeship? Is it a permanent job, or any kind of training? Is it useful for me? What salary should I expect?
Don't worry. I have answered all these questions in this blog.

What is Apprenticeship?
In case of Banks, Apprenticeship is of one year duration, where you attend theory classes, as well as, learn banking procedures at the Bank itself!
Training consists of basic training (theoretical instructions) and practical on the job training at the Bank.
The person undergoing an apprenticeship is called an Apprentice.
During this time, your duties will involve doing important tasks like administrative work and providing various services at the Bank.
Overall, it's a probationary period to learn and gain experience.

Duration of Indian Bank Apprenticeship:
This Apprenticeship will be 1 year (52 weeks) long, which will include:

a. 2 weeks Basic Training (theory classes)
b. 50 weeks On-the-Job Training (posted in any branch of Indian Bank)

Will I get any certificate?
Proving successful completion of the apprenticeship involves passing a skill evaluation test (Trade test).
On passing the test, you will get a joint National Apprenticeship Certificate issued jointly by Indian Bank-NSDC/BFSI-SSC.
This certificate will be very helpful in boosting your finance career and getting you an Assistant Manager job in any private sector bank.

Will this Apprenticeship give me a permanent job in Indian Bank?
No this will not give you a permanent job in Indian Bank.
But you will definitely get a very good job in private sector banks.

Will I get paid in this Apprenticeship?
Yes, you will get paid!
You will receive a monthly stipend of ₹12,000 to ₹15,000 depending on your training branch's location:

a. For Rural/Semi-Urban: ₹12,000
b. For Metro/Urban: ₹15,000

However, it's important to note that apprentices do not receive any other allowances or benefits.

What are the benefits of this Indian Bank Apprenticeship?
Since you are trained for one year in BFSI by one of the leading banks of India (Indian Bank), your value in the market will rise up.
You will get a very good job in private sector banks or insurance companies or any company providing financial services. In private banks, you may get posted as an Assistant Manager, with a decent salary.
Overview of Indian Bank Apprenticeship Programme 2024:
Total Seats: 1500 seats
Online Registration of Application: 10.07.2024 to 31.07.2024
Online Examination: will be announced later.
Application Fees: ₹500 for General/OBC/EWS, and ₹0 (Nil) for SC/ST/PwBD

Who are Eligible?
Nationality: You should be an Indian Citizen, or settled from Nepal or Bhutan, or a refugee from neighbouring countries and East African countries, permanently settled in India.
Educational Qualification: Graduate in any stream from any UGC recognised university. (Before 1st July 2024).
Age limit: 20 years (minimum) to 28 years (maximum). (As on 1st July 2024)
Note:
1. In the case of OBC, you get a relaxation of 3 years in the upper age limit.
2. In the case of SC/ST, you get a relaxation of 5 years in the upper age limit.
3. In the case of Physically Handicapped, you get a relaxation of 10 years in the upper age limit.
4. In the case of Widows/Divorced Women, and women who are legally separated (and not remarried), the age limit is upto 35 years for UR/EWS, 38 years for OBC and 40 years for SC/ST candidates.

Selection Process:
It consists of a computer based examination (CBE), followed by a test of the local language.
On the basis of your performance, and your regional preferences, you will be selected for this Apprenticeship.
The CBE exam will be of MCQ type, and its structure will be:

1. 25 questions from General/Financial Awareness (of 25 marks), with a sectional time of 15 minutes.

2. 25 questions from General English (of 25 marks), with a sectional time of 15 minutes.

3. 25 questions from Computer Knowledge and Reasoning Aptitude (of 25 marks), with a sectional time of 15 minutes.

4. 25 questions from Quantitative Aptitude (of 25 marks), with a sectional time of 15 minutes.

Total: 100 questions (of 100 marks)
Time Duration: 60 minutes
Negative Marking: -0.25 marks (1/4th)

After getting selected, your knowledge of local knowledge (of the region you selected in your form) will be tested. Qualifying this is very important for appointment.

To apply, you should visit Bank’s website www[dot]indianbank[dot]in and click on ‘Career’ page for more information.

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