NIACL AO Recruitment 2018 PDF: Check Official Notification
Dear Bankersdaily Aspirants,
NIACL ( The New India Assurance Company Ltd.,) which is a leading Public Sector General Insurance Company, invites applications for recruitment of 312 Officers (Generalist & Specialists) in Scale I cadre from open market. The total number of vacancies available for the NIACL AO Recruitment 2018 is 312.
This NIACL AO Recruitment 2018 is conducted to recruit potential aspirants for the posts of Company Secretary, Legal, Finance & Accounts, and Generalists.
Important Dates – NIACL AO Recruitment 2018
- Online Registration & Payment of Application Fees – 10th – 26th December 2018 (Both Dates Inclusive)
- Phase-I Online Examination (Objective) – 30th January 2019
- Phase – II Online Examination (Objective + Descriptive) – 2nd March 2019
Vacancies – NIACL AO Recruitment 2018
- Total Number of Vacancies: 312
|Finance & Accounts||35||4||3||8||20||1||1|
- Selected candidates on appointment may be posted or transferred to any place in India as may be decided by the Company.
- Please note that most of the aforesaid vacancies are in areas under our Hubli, Raipur and Madurai Regional Offices as well as in Mumbai and its suburbs, Ratnagiri, Raigad & Sindhudurg districts of Maharashtra and the states of Goa & Gujarat.
- The minimum stay at the initial place of posting will be 5 years. Vacancies for Company Secretary discipline are in Mumbai only.
Age Limit – NIACL AO Recruitment 2018
- Minimum Age: 21 years
- Maximum Age: 30 years
The age limit will be considered as on 1st December 2018.
i.e. a candidate must have been born not earlier than 2nd Dec-1988 and not later than 1st Dec-1997 (both dates inclusive).
Educational Qualification – NIACL AO Recruitment 2018
The Educational quliafication of the aspirants will be considered as on 1st December 2018. Candidate should possess certificate in proof of passing the qualifying examination as on 01.12.2018.
Generalists: A candidate must possess the minimum qualification of a graduate/post graduate in any discipline from a recognised University or any equivalent qualification recognised as such by Central Government with at least 60% marks in either of the degree examination for General candidates and at least 55% marks for SC/ST/PwBD candidates.
Specialists: A candidate must possess the minimum qualification as follows. The qualification should be from a recognised University or any equivalent qualification recognised as such by Central Government
Company Secretary: ACS/FCS from ICSI and Graduation/Post-graduation in any discipline with min 60%
Graduate/Post-graduate in Law with min 60% (55% for SC/ST/PwBD)
Finance & Accounts
Chartered Accountant (ICAI) and Graduation/Post-graduation in any discipline with min 60% (55% for SC/ST/PwBD)
Cost and Management Accountant (The Institute of Cost Accountants of India, earlier known as ICWAI) and Graduation/Post-graduation in any discipline with min 60% (55% for SC/ST/PwBD)
MBA Finance/PGDM FINANCE* with min 60% (55% for SC/ST/PwBD)
M.COM with min 60% (55% for SC/ST/PwBD)
* MBA/PGDM Finance candidates must furnish certificate from university confirming their specialization in finance at the time of interview, failing which they will not be allowed to appear for the interview.
Probation Period – NIACL AO Recruitment 2018
Probation Period: One Year from the Date of Joining the duty.
A candidate appointed in the Officers’ cadre on regular pay rolls of the Company shall be on probation for a period of one year from the date of joining the duty. The probation period may be extended twice by a further period of six months at a time stretching up to one year.
During the probation period the Officers would be required to pass the non-life Licentiate Examination conducted by Insurance Institute of India. Only after passing the said examination the Officer will be eligible for confirmation of his/her services in the Company. Failure to pass the said Examination within the extended probation period will render the officer liable to be terminated from service on expiry of the period so specified.
The Company reserves the right to terminate t h e services of the candidate if found unsuitable at any time during the probation period or the extended probation period without any notice or assigning any reason thereof.
Guarantee Bond – NIACL AO Recruitment 2018
- Before joining as probationer, the selected candidates will be required to give an undertaking to serve the Company for a minimum period of four years including probation period. In the event of their resigning from the Company before the expiry of the bond period, they will be liable to pay liquidated damages equivalent to one year’s gross salary paid to them during the year of probation which could be proportionately reduced depending on the length of service rendered. Besides, he/she will have to submit a stamped Bond duly executed by two sureties (not blood relatives) of sound financial standing for an amount equivalent to one year’s gross salary.
- Candidates resigning from the Company during the probation period and candidates whose services are terminated by the Company during the probation period shall be liable to pay the salary received by them during their entire service in the Company in addition to an amount of Rs.25,000/- towards partial cost of training.
- No lien/bond executed to retain a substantive post with present employer will be binding upon the Company and no Leave Salary or Pension Contribution will be made.
Emoluments & Benefits – NIACL AO Recruitment 2018
Basic pay of Rs. 32,795/- in the scale of Rs. 32795-1610(14)-55335-1745(4)- 62315 and other admissible allowance as applicable. Total emoluments will be approximately Rs.51,000/- p.m. in Metropolitan Centers. Other benefits such as coverage under National Pension System governed by PFRDA, Gratuity, LTS, Medical Benefits, Group Personal Accident Insurance etc. shall be as per rules. The Officers are also entitled for Company’s / leased accommodation as per norms. The salary scales are due for revision w.e.f Aug 2017.
Selection Procedure – NIACL Recruitment 2018
- Phase I – Online Prelims Exam
- Phase II – Online Mains Exam & Descriptive Exam
- Phase III – Interview
Phase-I: Preliminary Examination
- Negative Marks: Yes
- Cutoff Marks: Yes
Preliminary Examination consisting of Objective Tests for 100 marks will be conducted online. This would consist of 3 sections as follows:
|Name of Test/Section (not in sequence)||Type of test||Max. Marks||Duration for each test/section (Separately timed)||Version|
|1||English Language||Objective||30||20 min||English|
|2||Reasoning Ability||Objective||35||20 min||Eng/Hindi|
|3||Quantitative Aptitude||Objective||35||20 min||Eng/Hindi|
Candidates have to qualify in each test/section by securing passing marks to be decided by the Company. Adequate number of candidates in each category as decided by the Company (approximately 15 times the numbers of vacancies subject to availability) will be shortlisted for the Main Examination.
Phase – II: Main Examination
Main Examination will consist of Objective Tests for 200 marks and Descriptive Test for 30 marks. Both the Objective and Descriptive Tests will be online. Candidates will have to answer Descriptive Test by typing on the computer. Immediately after completion of Objective Test, Descriptive Test will be administered.
(I) Objective Test: The Objective Test of 2 hours duration will be as follows:
|Name of Test (not in sequence)||Type of test||Maximum Marks||Medium of Exam||Duration|
|1||Test of Reasoning||Objective||50||Eng/ Hindi||
|2||Test of English Language||Objective||50||Eng|
|3||Test of General Awareness||Objective||50||Eng/ Hindi|
|4||Test of Quantitative Aptitude||Objective||50||Eng/ Hindi|
|Name of Test (not in sequence)||Type of test||Maximum Marks||Medium of Exam||Duration|
|1||Test of Reasoning||Objective||40||Eng/ Hindi||
|2||Test of English Language||Objective||40||Eng|
|3||Test of General Awareness||Objective||40||Eng/ Hindi|
|4||Test of Quantitative Aptitude||Objective||40||Eng/ Hindi|
|5||In Specialist stream, an additional test to assess technical& professional knowledge in the relevant discipline||Objective||40||Eng/ Hindi|
- Descriptive Test: The Descriptive Test of 30 minutes duration with 30 marks will be a Test of English Language (Letter Writing-10marks & Essay-20 marks). The descriptive test will be in English and will be conducted through on-line.
Each candidate will be required to obtain a minimum score for each section of objective test separately for short listing for the Descriptive test evaluation/Interview. Descriptive answer script would be evaluated only in respect of those candidates who qualify the objective test. Depending on the number of vacancies available, cut offs will be decided for Descriptive paper evaluation
Application Fee – NIACL AO Recruitment 2018
- SC/ST/PwBD – Rs.100/- (Initimation Charges Only)
- All Candidates other than SC/ST/PwBD – Rs.600/- (Application Fee including intimation Charges)
*The transaction charge, if applicable, is to be borne by the candidate.
Online Registration starts from 10 December 2018. (We will update the link with Correct one while NIACL Releases it ).