Thursday, August 4, 2011


Indian Overseas Bank is looking for Retired Officers of Nationalized Banks for engaging as Financial Inclusion Co-Ordinators to carry forward the Financial Inclusion activities of the Bank in selected Districts of the country.
For application and full details of the post with terms, visit our Bank’s web site Interested members may please apply in the prescribed format. Last date of receipt of application at our office is 20.08.2011.

1. Name of the assignment : Financial Inclusion Coordinator
2. No of vacancies: 144 (as per List in annexure) all over India.
3. Age : Max 62 years
4. Eligibility :
a. Retired Bank Officers in MM-II and above from any Public sector Bank will be taken as Financial Inclusion Co-ordinator.
b. Should have impeccable integrity.
c. Applicant should neither have been punished by the employer Bank during the last five years before retirement nor any case with CBI or other Law enforcement agencies are pending against him.
d. Applicants should be physically fit to carry out the duties of the Financial Inclusion Co-ordinator which includes touring of villages.
e. Applicant should be able to read, write and speak the local language.
f. Applicant should be conversant with computers and related devices.
g. He should hold valid driving license and must have his own two wheeler for moving around.
h. He should have own place to work, which should also be accessible to BCs in case of need.
i. Persons belonging to the locality will be preferred.
5. Period of Contract Initially one year, renewable on yearly basis.
6. Conditions of Engagement:
The renewal of contract will be Subject to continued good performance and physical fitness. Engagement will not stretch beyond 65 years of age. Financial Inclusion Co-ordinator will not be entrusted with any
financial/administrative powers. Engagement as Financial Inclusion Co-ordinator will not entitle him to
claim permanency in Bank’s service.
7. Remuneration:
1. Fixed remuneration of Rs.1000/- for each BC under him (For e.g., Rs.10000/- if number of BCs is 10)
2. Rs 2,500/- p.m. as out of pocket/conveyance expenses (on declaration) No other allowance /reimbursement expenses will be admissible.
8. Disengagement:
Bank may decide to terminate the contract of engagement if the performance of the Financial Inclusion Co-ordinator is not performing the job for which he was engaged by giving one month's notice.
9. Nature of responsibilities :
Financial Inclusion Co-ordinator (FIC) will coordinate, advise and assist Bank officials and work as an intermediary between the bank and the business correspondent (BC) /Business Facilitators (BF). FIC will help the bank in identifying suitable BCs / BFs, ensure performance of BCs in Key performance areas like number of deposit accounts, number of smart cards, usage of smart cards, facilitating loans and
insurance policies etc.
FIC will also follow-up the business sourced by the BCs/ BFs and submit reports to Bank.
FIC will supervise the performance of the BC/BF on a regular basis by conducting surprise visits which includes checking of records and cash.
FIC will monitor the data upload, transactions and account opening
FIC will facilitate account opening at base branch.
FIC will Monitor TATs (Turn around time) for all FI related activities.
FIC will help the branch in calculation and payment of commission to the BCs at determined rates.
FIC will take all possible steps to increase the outreach through the available products using the BC machinery.
FIC will resolve grievances and submit report thereof to the Bank.
FIC need to discharge any other functions not specified herein as may be decided by the Bank
10. Selection Procedure :
A) Eligible candidates have to submit their application in the prescribed format. Completed forms to be sent in a closed envelope super scribed with “Application for assignment of FI Coordinator” and addressed to :
The Deputy General Manager
Financial Inclusion cell
Indian Overseas Bank
Central office
763 Anna Salai
Chennai 600 002
Tamil Nadu
Last date for receipt of application: 20/08/2011 No application will be entertained beyond the stipulated date.
Incomplete applications will be rejected.
B) Interview: Eligible person will be interviewed at a place specified by bank at their own expense.
11. General Conditions :
a) While applying for the posts, the applicant should ensure that he / she fulfills the eligibility and other criteria mentioned above and that the particulars furnished are correct in all respects. In case it is detected that a candidate does not fulfill the eligibility norms and / or that he / she has furnished any incorrect / false information or has suppressed any material fact(s), his / her candidature will automatically stand cancelled. If any of the above shortcoming(s) is / are detected after engagement, his / her services are liable to be disengaged without any notice.
b) Candidates are advised to indicate preference of districts. Bank shall try to allocate the preferred district; subject to the requirement and availability.
c) In case of suitable and deserving cases, any of the requirements and conditions of eligibility mentioned above, may be relaxed at the discretion of the Management. The Management reserves the right to fill or not to fill the above advertised position without assigning any reason thereof.
d) Mere submission of application and fulfilling the criteria prescribed in the advertisement would not entitle the candidate right to be called for interview.