GIC Assistant Manager 2024 Notification

1. GIC Assistant Manager 2024 Notification

General Insurance of Cooperation has released a notification for GIC Assistant Manager  (Scale -1). The GIC assistant manager 2024 notification was released on 23/12/2023 to fill 85 Scale-1 Officer positions posts. The last date for submission of application for GIC Assistant Manager is  12 January 2024. 

The General Insurance Corporation of India (GIC) is the 15th largest Reinsurance company in the world. It has major branches in India and abroad also. Candidates who completed Chartered Accounts or Company Secretaries, and want to create a career in the insurance industry can apply for GIC Assistant Manager 2024 notification. To know more about the GIC Assistant Manager exam, Important days, syllabus, and cutoff marks continue reading the below blog.

Check here for  GIC Assistant Manager Scale-1 2024 Notification

2. About GIC Assistant Manager 2024 Exam

The GIC Assistant Manager exam is conducted online. There are Four stages for the GIC Assistant Manager SCale-I exam. There will be negative markings for objective questions. ie 0.25 mark as a penalty for a wrong question and 1 mark for every right answer. This exam pattern is applied for both the post of CA and CS.

Stage I: Online Exam

Stage II: Group Discussion

Stage III: Interview Round

Stage IV: Medical Examination

2.1 Stage – I   Online Exam Pattern for GIC Assistant Managers Scale-1:

.The Online exam pattern for  GIC Assistant Manager Hindi officer and other than Hindi officer is given below. 

    Key points of GIC Assistant Manager Scale1 Officer online exam:

• There will be a negative mark for the online exam 1/4  mark or 0.25 mark will be deducted for every wrong answer and 1 mark will be awarded for every right answer. 
• Minimum qualifying marks for GIC Scale-! officer online test will be 60% for General and OBC, and 50% for SC/ST candidates. 
• Overall Minimum qualifying marks including (online exam + Interview) will be –  60% for General and OBC, and 50% for SC/ST candidates. 
• Part B and Part C are common to every post only Part A is different to Hindi and non-Hindi officers. 
• The candidate must receive the minimal qualifying marks in each stage of the selection process which is the online exam, GD, and interview phases of the selection process, respectively. 

2.2 Stage II: Group Discussion

Candidates qualified in the Online exams can only attend the group discussion round. Group discussion is conducted for 20 marks. 

2.3 Stage III: Interview

After group discussion Selected candidates are called for the Interview process. The Maximum mark for the interview process is 30 marks. The interview will be conducted in the selected centres only.  The Date and Venue of the interview will be communicated to the shortlisted candidates. 

2.4 Stage IV: Medical Exam 

It is the final stage of the exam process. Aspirants qualified for round 3 should produce all their certificates for medical verification. Students failing to show the certificates will not be short-listed for the assistant manager post. 

3. About IACE coaching for GIC Assistant Manager

IACE  is one of the best institutes for GIC Exam Coaching. Aspirants looking for proper guidance should check IACE Academy. It has 10+ years of experience in nurturing students for competitive exams. Experienced and trained teachers and special programs are the main reasons for choosing the IACE institution. Not just that, IACE customized programs make students’ exams ready with benefits like: 

• Daily newspaper booklets for current affairs
• Customized study materials
• Grand Tests with real-time doubt clarification sessions
• Real Intensive Programs are structured and framed to understand the capabilities of the students and analyze their study patterns.

4. GIC Assistant Manager 2024 Exam Highlights

The exam highlights of GIC Assistant 2024 are given below. 

5. GIC Assistant Manager 2024 Online Application & Fee

Candidates willing to join the 2024 GIC Assistant Manager Scale -1  posts can start applying through the online portal

5.1 GIC Assistant Manager 2024 Online Application Process: 

1. Visit the official GIC Official Website.
2. Select Apply Online
3. For New registration. Click on the tab New Registration and enter your name, contact number, and email ID
4. After submitting, a provisional registration number and a password will be registered. 
5. Login with the information and fill in all the required information.
6. Click on save and proceed to the next phase.
7. Verify all the details carefully 
8. And proceed to pay the exam fee and click on submit the details. 
9. Upload all the required documents, and make sure they are in specified size and format
10. After submitting, take a printout of the application.

5.2 GIC Assistant Manager Scale -1 Application Fee: 

6. GIC Assistant Manager 2024 Eligibility Criteria

To apply for GIC Assistant Manager 2024, certain eligibility criteria should be matched before applying.  Candidates are advised to properly check their eligibility criteria. 

6.1 Education Qualification:

6.2 Age Limit for GIC Assistant Manager 2024: 

Candidates only who have the required age can only be considered for the GIC Assistant Manager Scale – 1 2024 exam notification. The age criteria for a GIC Assistant manager are: 

• The Minimum Age is 21 years 
• The maximum Age is 30 years  

6.3 Age Relaxation for GIC Assistant Manager 2024: 

7. GIC Assistant Manager 2024- Important Dates

Aspirants waiting for GIC Assistant Manager  ( Scale -1) Exam notification can check important dates in the below table. Students are also advised to check the blog regularly

8. GIC Assistant Manager Selection Procedure

Candidates who are interested in applying for General Insurance Corporation of India  Assistant Manager  (Scale- 1) post-recruitment should qualify for 3 phases. Candidates will be chosen for Assistant Manager (Scale I) positions based on their performance on the online test, in group discussions, interviews, and medical examinations. For both the General and OBC categories and the SC/ST category, the minimum qualifying scores for the online test are 50% and 60%, respectively. There are a total of 200 marks for the group discussion, interview, and online test.

• Online Exam:
• Group Discussion
• Interview
•  Medical Examination

Online exam:
Selection for the GIC Assistant Manager Scale-1 Posts will be based on the preliminary exam. Candidates are selected for the interview round only if they are qualified in the preliminary exam.            

Group Discussion:

Candidates can attend the group discussion only when they are qualified for the online exam. This part of the exam carries 20 marks in total.

Interview: 

Based on the merit list created by the recruitment board of GIC, students are called for the interview process which is conducted by the cooperation only. However, the interview details will be emailed to the eligible candidates. The GIC board will finally release the official list of the selected students. This part in the selection process carries 30 marks

Medical Examination:

It’s the last phase of the examination procedure. Candidates that make it to round three must provide all of their certifications for a medical examination.

9. GIC Assistant Manager Syllabus 2024

Candidates looking for the 2024 GIC Assistant Manager exam syllabus can check the below table. Candidates are required to answer both objective and descriptive questions. These are the expected topics for the GIC Assistant Manager exam. 

10. GIC Assistant Manager Vacancy 2024: Category-Wise

For the position of GIC Officers in the cadre of Assistant Manager (Scale-I), 85 vacancies have been declared under the GIC Recruitment 2024. These positions will be placed in the Head Office in Mumbai and may be posted abroad or anywhere in India, Below are the recruitment details in Streamwise & category wise:

Category-wise Vacancy 2024

The list of Backlog vacancies for GIC Assistant Manager Scale-I is given below. 

11. GIC Assistant Manager exam previous year Cut-Off Marks:

Candidates can estimate their marks by checking the cut-off marks of the previous year. The final cut-off notification will be released after the declaration of results. The cuff-off table for the year 2021 is given below.

12. GIC Assistant Manager 2024 Salary Structure

The GIC Corporation of India provides an excellent work model with a notable pay structure. Candidates interested in joining the General Insurance Corporation of India can check the below information for Chartered Account and Company Secretary.

Basic Compensation: 

Rs.50,295/- every month in a spectrum of Rs.50925 -2500(14)- Rs.85925 -2710(4)- Rs.96765 along with other Allowances: DA, HRA, CCA, and so forth With additional perks, the overall remuneration will be around Rs. 85,000 per month. 

13. GIC Assistant Manager Salary Benefits

The advantages offered to GIC Assistant Managers significantly alter the situation. The following are the benefits and allowances provided to GIC Officer scale-1: 

• Newspaper/Internet Allowance under the New Pension Scheme,
• Leave Travel Subsidy, 
• Medical Benefits,
• House Furnishing and Household Help Allowances
• Personal Accident Insurance, 
• Housing, vehicle loans and any other benefits as per rules and upon confirmation of service in the Corporation.

Following the rules, the officers are also entitled to corporate or leased housing. (Presently Corporation owned accommodations are not available, whereas leasing accommodation would be granted as per regulations). The current Mumbai lease lodging cap is Rs. 30,000 per month.

14. GIC Assistant Manager 2024 Exam Centre

The GIC Assistant Manager scale -1  has released the notification for the year 2024, but the exam dates are yet to be announced. The below Exam centres are according to the notification. Students can check them accordingly.

15. GIC Assistant Manager Preparation Tips 2024

The GIC  Assistant Manager Exam is conducted every year, and notification will be released on the website by the GIC recruitment officials. Having a proper plan is important, planning makes preparation easy. Below are a few tips that need to be followed while preparing for GIC Assistant Manager Exams.

• Syllabus Analysis – As mentioned earlier, having a proper plan is important in syllabus analysis and is the first step towards exam preparation.
• Daily Practice Test, Attending daily practice will help you analyze the strong topics and weak topics that need to be covered more.
• As Reasoning is the most important topic of the GIC exam, Focus on those topics.
• Go through complete notes, and prepare your notes. Try to create questions out of it.
• Revision, learn and Relearn the topics. 
• Write Mock Exams.
• Stick to your timetable, this helps in completing the syllabus easily 
• Follow proper reputed books.

16. GIC Assistant Manager 2024 Pre-exam training

Pre-recruitment online training will be provided to those who qualify as SC, ST, OBC, and PWD candidates. It will be announced to candidates two or three weeks before the main exam regarding the online pre-recruitment training.

17. GIC Assistant Manager 2024 Guarantee Bond

The chosen candidate must promise to work for the company for at least four years, including the probationary period. If this commitment is not met, the candidate will be required to pay liquidated damages equal to one year’s worth of gross salary, which may be lowered or increased based on the length of service. Additionally, the candidate must provide a stamped indemnity bond for the sum of one year’s gross income, properly executed by two sureties who are unrelated to them and of good financial standing.

18. GIC Assistant Manager 2024 Admit Card & Call Letter

Here for GIC assistant manager exams candidates will receive tier-wise admit cards. There are 3 phases of exams, Prelims, Interview round/Group Decision and Medical examination.

Candidates will receive the call letter for Group discussion / Interview only if they are qualified for the Preliminary exams. Admit cards for the preliminary exam of  GIC Assistant Manager 2024  will be released in August. 

The link for admit cards will be updated here. Students are suggested to check the blog regularly.

19. GIC Assistant Manager Prelims 2024 Result

The preliminary results of the 2024 GIC Assistant Manager Finance Scale -1 post will be after the commencement of exams i.e. within one month. Students can check their results here in this blog. The link will be updated as soon as the results are out.

20. GIC Assistant Manager Interview Results

Aspirants qualified in preliminary exams will be called for an interview, which will be conducted by the corporation. The shortlisted students will get an email with the information on the venue, date & timings of the interview,

Aspirants need to qualify in the interview round and group decision, for attending the medical examination. 

21. GIC Assistant Manager Medical Examination

Phase -III Medical examination is the last round for the GIC  Assistant Manager ( Scale-1) Finance posts. After the selection of Preliminary exams and Group discussion rounds, students are selected based on their marks and merit list. The selected students are called for medical certification if qualified they will receive the call letter.