SIDBI Grade B Salary 2024, Pay Scale, In-Hand Salary and Job Profile

Every year, SIDBI offers competitive posts for its Grade B officers, which attracts candidates interested in challenging and rewarding careers. In 2024, the SIDBI Grade B Manager post offers an excellent salary package that includes a basic salary of ₹55200/-, opportunities for career progression and exposure to different sectors, especially MSMEs. Take an in-depth look at the SIDBI Grade B Salary, Pay Scale, In-Hand Salary and Job Profile for candidates interested in joining this post.

Small Industries Development Bank of India (SIDBI) is a reputed institution that plays a vital role in promoting the growth of Micro, Small and Medium Enterprises (MSMEs) across India.

sidbi grade b salary 2024

SIDBI Grade B Manager post is not only financially rewarding but also offers ample opportunities for career growth. With a starting monthly salary of approximately ₹1,15,000 and a well-defined pay scale, it offers meaningful professional growth as well as financial stability. Apart from the financial benefits, the job profile enables managers to contribute significantly to the MSME sector, making it an excellent choice for those interested in supporting small and medium enterprises.

sidbi grade b pay scale 2024

SIDBI Grade B officers are offered attractive pay scales, officially designated as Managers. The salary structure follows a pay scale that determines progression each year over a period of 16 years. The detailed pay scale for SIDBI Grade B Manager is given below:

This structure includes salary increases and has the following provisions:

• Annual Salary Increase: ₹2850 for first 9 years, reaching ₹80850.
• Efficiency Bar (EB): With two additional increments of ₹2850 each it increases to ₹86550.
• Last 4 increments: Post-EB, increase by ₹3300 for 4 years, up to a maximum of ₹99750.

SIDBI Grade B In-Hand Salary 2024

A SIDBI Grade B officer starts with a monthly salary of around ₹1,15,000. This amount includes several components, including:

• Basic Pay: Starting basic salary ₹55200.
• Dearness Allowance (DA): Adjusted on the basis of inflation, DA is revised from time to time.
• House Rent Allowance (HRA): Adjusted based on location of posting.
• other allowances: Various other allowances like special allowance, city compensatory allowance (CCA) and transport allowance contribute to the in-hand salary.
• Apart from these, SIDBI Grade B Managers may be eligible for other perks including health care benefits, insurance and retirement benefits, making the total compensation package highly competitive.

SIDBI Grade B Job Profile 2024

The role of Grade B Manager in SIDBI is multidimensional, with responsibilities varying depending on the stream of expertise (General, Legal or IT). Below the duties for each stream are outlined:

A) Manager Grade ‘B’ (General Stream)

Managers in the General Stream are responsible for managing the operational and strategic goals of SIDBI with a special focus on the MSME sector. They contribute in areas such as:

• Credit Entry: To expand credit access to MSMEs, microfinance and startups through direct and indirect lending mechanisms.
• Entrepreneurship and Skill Development: To support initiatives for the development of the MSME sector by collaborating with stakeholders and coordinating skill-enhancement programmes.
• business analytics: Conducting research, gathering market feedback and presenting trends to aid decision making processes.
• Internal Management: Handling administrative, control and monitoring functions to adapt to evolving market conditions.

b) Manager Grade ‘B’ (Legal Stream)

Legal managers handle a range of legal and compliance-related duties critical to SIDBI’s operations. His responsibilities include:

• Legal Compliance and Support: Drafting and reviewing legal documents, handling lawsuits, providing legal opinions on property securities, and overseeing the creation and enforcement of security interests.
• Case Handling: Managing matters relating to debt recovery, Insolvency and Bankruptcy Code (IBC) applications and disputes under various banking-related laws.
• Recovery and SARFAESI Act proceedings: Managing asset disposal, securing assets and monitoring legal compliance under SARFAESI Act and DRT.
• Stakeholder Collaboration: Coordinating with law enforcement and regulatory bodies for dispute resolution and recovery processes.

c) Manager Grade ‘B’ (IT Stream)

SIDBI offers specialized roles to IT managers in areas such as Artificial Intelligence, Machine Learning (AI/ML), Application Development, Security and Network Infrastructure. Key responsibilities based on these skill sets include:

AI/ML Automation:

• Developing data models, applying machine learning algorithms, and optimizing models for data accuracy.
• To analyze and generate insights to support SIDBI’s decision making.

Full Stack Application Development:

• Designing and developing complex web applications and front-end modules and ensuring secure coding practices.
• Maintaining coding standards and resolving application-level issues.

Security:

• Creating secure IT architecture, implementing security solutions, and performing audits to ensure data integrity and compliance with regulatory standards.
• Incident management and collaborating with various teams to ensure security resilience of SIDBI.

Infrastructure and Network Management:

• Overseeing IT infrastructure, managing network configuration, and ensuring efficient functioning of data centers.
• Ensuring high availability of IT systems and conducting business continuity (BCP) and disaster recovery (DR) exercises.

Career Development and Progression for SIDBI Grade B Managers

SIDBI offers structured career progression opportunities, allowing Grade B managers to move up based on performance, experience and skills. Promising candidates can expect promotion to senior managerial roles in the hierarchy of SIDBI. Additionally, practical experience in important areas such as MSME financing, legal matters and IT innovation adds significant value to the manager’s profile, thereby enhancing their career prospects in the banking sector.