IRDAI Assistant Manager Result 2024 : Download For 49 IRDAI AM Vacancies.

The Insurance Regulatory and Development Authority of India (IRDAI) has declared Prelims Exam Result for the recruitment of 49 Assistant Managers. If you are interested in a career in the insurance sector, this is an excellent opportunity. Here, we provide an overview of the recruitment process, key dates, and how to apply for these vacancies.

IRDAI Assistant Manager Recruitment Overview

Field	Details
Organization	Insurance Regulatory and Development Authority of India (IRDAI)
Post Name	Assistant Manager
Total Vacancies	49
Notification Date	21 August 2024
Application Period	21 August 2024 to 20 September 2024
Official Website	irdai.gov.in

Important Dates

Event	Date
Notification Release	21 August 2024
Application Start	21 August 2024
Application End	20 September 2024
Exam Date	06 November, 2024

Application Fee

Category	Fee
SC/ST/PWD Candidates	Rs. 100/-
Other Categories	Rs. 750/-
Mode of Payment	Online

Educational Qualification

Post Name	Qualification
AM (Actuarial)	Graduation with 60% Marks 7 Papers Passed of IAI
AM (Finance)	Graduation with 60% Marks ACA/AICWA/ACMA/ACS/CFA
AM (Law)	Degree in Law (LLB) with 60% Marks
AM (IT)	B.Tech or PG in CS/IT/EE/ECE with 60% Marks
AM (Research)	PG in Economics/Statistics with 60% Marks
AM (Generalist)	Graduation with 60% Marks

IRDAI Assistant Manager Vacancies

Post Name	Vacancies
AM (Actuarial)	5
AM (Finance)	5
AM (Law)	5
AM (IT)	5
AM (Research)	5
AM (Generalist)	24

Selection Process & Exam Pattern

Phase I – On-line Preliminary Examination

Test	Questions	Marks	Time
Test of Reasoning	40	40	90 minutes
Test of English Language	40	40
Test of General Awareness	40	40
Test of Quantitative Aptitude	40	40
Total	160	160	90 minutes

Cut-offs

Must meet cut-offs for each test and in aggregate.
Separate cut-offs for specialized and Generalist streams.

Scoring and Penalties

Negative Marking: 1/4 mark deducted for wrong answers.
Scores are corrected and equated across sessions.
Reported with up to two decimal points.

Phase II – Descriptive Examination

Paper	Marks	Time
Paper-I: English	100	60 minutes
Paper-II: Economic and Social Issues Impacting Insurance	100	60 minutes
Paper-III: Insurance and Management	100	60 minutes
Total	300	180 minutes

Phase III – Interview

Detail	Information
Candidates Required	Shortlisted from Phase II
Scheduling and Venue	Announced by IRDAI on their website
Reserved Vacancies	May be filled by general candidates or relaxed standards may apply
Change Requests	Not entertained; IRDAI may adjust as needed
Final Selection	Based on combined score of Phase II and Interview

Weightage

Phase II: 85%
Interview: 15%

IRDAI Assistant Manager Salary & Pay Scale

Starting Basic Pay: ₹44,500 per month.
- Incremental Increases: The pay scale includes structured increments at specified intervals:
  - ₹44,500 to ₹54,500: Increase of ₹2,500 over 4 years.
  - ₹54,500 to ₹74,450: Increase of ₹2,850 over 7 years.
  - ₹74,450 to ₹85,850: Increase of ₹2,850 over 4 years.
  - ₹85,850 to ₹89,150: Increase of ₹3,300 over 1 year.
- Duration to Reach Maximum Pay: 17 years to reach the maximum of ₹89,150.

Initial Gross Emoluments

Approximate Gross Monthly Pay: ₹1,46,000.
- Components: Includes basic pay, various allowances, and perquisites.
- Excludes: Qualification allowance if not applicable.

Allowances and Perquisites

Dearness Allowance (DA): Adjusts for inflation and increases the overall pay.
House Allowance (HA): Compensation for housing costs.
Qualification Allowance: Additional pay based on educational qualifications, if applicable.
City Compensatory Allowance (CCA): Additional pay based on the city of posting to offset higher living costs.
Grade Allowance: Additional compensation depending on the grade of the post.
Other Perquisites: May include benefits like medical insurance, travel allowances, etc.

Pension Scheme

Defined Contribution New Pension Scheme (NPS):
- Nature: A contributory pension scheme where both employee and employer contribute.
- Benefits: Provides a retirement corpus based on contributions and investment performance.
- Governance: The scheme is regulated by the Pension Fund Regulatory and Development Authority (PFRDA).

Summary

Compensation Structure: The pay scale is designed with structured increments to reward longevity and performance, with a significant increase over time.
Initial and Ongoing Benefits: The initial gross emoluments are competitive, with various allowances and perquisites enhancing the total compensation package.
Pension Scheme: The NPS provides a structured retirement benefit, aligning with modern pension practices.

How to Apply

Visit the Official Website: irdai.gov.in
Navigate to the “Careers” Section: Find the latest recruitment notices.
Click on the Assistant Manager 2024 Apply Online Link: Start your application.
Fill out the Application Form: Provide necessary details and upload required documents.
Submit the Application: Complete the process by submitting your form online.

For detailed information and updates, always refer to the official IRDAI website.