India Infrastructure Finance Company Limited (IIFCL), a wholly owned Government of India enterprise, has announced direct recruitment for the post of Manager (Grade B) on a regular basis. This is an excellent opportunity for dynamic and experienced professionals eager to contribute to India’s infrastructure development. IIFCL is one of the most diversified public sector infrastructure lenders, financing both greenfield and brownfield projects across a wide range of infrastructure sub-sectors.
Important Dates
Candidates must take note of the following important dates related to the recruitment process:
- Opening of Online Registration & Payment of Fees: 08 March 2025
- Closing of Online Registration & Payment of Fees: 01 April 2025
- Cut-off Date for Age Eligibility: 31 January 2025
- Cut-off Date for Educational Qualification & Experience: 31 January 2025
- Tentative Date for Online Examination: April/May 2025
- Tentative Schedule of Interview: May/June 2025
- Declaration of Final Result: May/June 2025
Application Fees
Candidates are required to pay a non-refundable application fee as per the category they belong to. The details of the application fees will be available in the official notification.
Vacancy Details
IIFCL is inviting applications from eligible candidates for the position of Manager (Grade B) as per the following reservation details:
| Category | Number of Vacancies |
|---|---|
| General (UR) | 04 |
| Scheduled Caste (SC) | 00 |
| Scheduled Tribe (ST) | 01 |
| Other Backward Classes (OBC) | 00 |
| Economically Weaker Section (EWS) | 01 |
| Total Vacancies | 06 |
Eligibility Criteria
Nationality
Candidates must be Indian citizens.
Age Limit
As of 31 January 2025, candidates must not have attained the age of 40 years. Age relaxation is applicable as per government norms:
| Category | Age Relaxation |
| SC/ST | 5 Years |
| OBC (Non-Creamy Layer) | 3 Years |
| PwBD (Unreserved/EWS) | 10 Years |
| PwBD (OBC) | 13 Years |
| PwBD (SC/ST) | 15 Years |
| Ex-Servicemen | 5 Years |
| IIFCL Employees | 5 Years |
Educational & Experience Requirements
Candidates must have one of the following educational qualifications:
- Postgraduate degree/diploma in any discipline
- Bachelor’s degree in Law (LLB) / BA+LLB (5-year integrated course)
- Chartered Accountant (CA)
- Company Secretary (CS)
- Certified Management Accountant (CMA/ICWA)
- B.Tech/B.E.
Additionally, applicants must have:
- Minimum 2 years of experience in related areas in the financial sector, banks, financial institutions, PSUs, or reputed corporates.
- Overall experience of at least 7 years in officer/executive cadre OR in the same grade or a grade below in another financial institution, bank, or PSU.
- Preference will be given to candidates with experience in the banking and finance industry or the infrastructure sector.
Service Conditions & Career Prospects
Pay Scale
Selected candidates will receive a starting basic pay of Rs. 55,200/- per month, under the following pay structure:
Rs. 55,200 – 2850(9) – 80,850 – EB – 2850(2) – 86,550 – 3300(4) – 99,750 (16 years)
Additionally, selected candidates will be eligible for:
- Dearness Allowance
- Grade Allowance
- Local Allowance
- House Rent Allowance (HRA) of 15% of Basic Pay (if lease facility is not availed)
- Family Allowance
- Special Allowance
- Defined Contribution New Pension Scheme (NPS)
Additional Benefits
Apart from salary, Managers (Grade B) will also receive several perks such as:
- Leased accommodation (in lieu of HRA)
- Gratuity
- Leave Fare Concession
- Leave Encashment
- Reimbursement for medical expenses
- Meal card
- Mobile and residential telephone reimbursement
- Newspaper allowance
- Household expenses reimbursement
- Mobile handset charges
- Children’s education assistance
- Book grant
- Briefcase allowance
- Furnishing allowance
- Interest-free festival advance
- Loans and advances at concessional rates for car, housing, travel, personal computer, etc.
The approximate cost to the company (CTC) for this position is Rs. 23.5 lakhs per annum.
Increment & Promotions
- Candidates possessing JAIIB/CAIIB/professional qualification may be granted additional one/two increments.
- The management may consider granting further increments for deserving candidates.
Probation & Transfer Policy
- Selected candidates will be on probation for 2 years (extendable up to 4 years at IIFCL’s discretion).
- Candidates may be posted/transferred to any office, vertical, or subsidiary of IIFCL across India.
- Only those willing to serve anywhere in India should apply.
