Eligibility Criteria & Other Details for Canara Bank Recruitment 2010 : All the eligibility criteria [qualification, age etc] shall be computed as on 01.06.2010.

Nationality / Citizenship : A candidate must be either :

1. a citizen of India Or
2. a subject of Nepal Or
3. a subject of Bhutan Or
4. a Tibetan refugee who came over to India before 01.01.1962 with the intention of permanently settling in India Or
5. a person of Indian origin who has migrated from Pakistan, Burma, Sri Lanka, East African Countries of Kenya, Uganda, United Republic of Tanzania, Zambia, Malawi, Zaire, Ethiopia & Vietnam with the intention of permanently settling in India provided that a candidate belonging to categories (ii), (iii), (iv) or (v) above shall be a person in whose favour a certificate of eligibility has been issued by the Government of India.

A Candidate in whose case a certificate of eligibility is necessary may be admitted to the examination/interview conducted by the Bank, but on final selection the offer of appointment may be given only after the necessary eligibility certificates issued by the Government of India, are produced.

Canara Bank Investment Officers [on Contract]

A. Canara Bank Investment Officer Qualification : A Graduate in any discipline, preferably with MBA, and having flair for marketing the Insurance, Mutual Fund and other products of the Bank. All the qualifications mentioned should be from a recognized University / Institution.

Knowledge (Read / Write / Speak) of the local language of the State / Union Territory for which he / she is applying, is essential.

Candidates must necessarily be qualified by passing the IRDA Licence Examination after their provisional selection, at their own cost. Provisionally selected candidates shall be allowed to join the bank only if they acquire the IRDA Licence within the period stipulated by the Canara Bank.

Candidate should possess the following :

• Passion for Marketing
• Work independently and also with team
• Computer literacy
• Good communication skills

Preference will be given to those candidates who have prior experience in marketing / insurance business. Since the job involves extensive travelling, candidates should have good physical fitness and ready to accept the challenges & meeting the targets.

Computer Literacy : Operating computer systems in MS-DOS, MS Windows, Basic concepts of Networking & Connectivity, MS Office [Word, Excel, PowerPoint, e-mail etc.] shall be an essential qualification, which a candidate must either possess or acquire within 6 months from the date of joining the Canara Bank.

Hindi Knowledge : The candidates shall acquire working knowledge of Hindi, if not possessed already, within 6 months from the date of joining the Canara Bank.

B. Investment Officer Job Profile : Marketing the Insurance, Mutual Fund and other products of the Bank. Responsible for end-to-end sales. Any other work assigned by the Bank from time to time.

C. Period of Contract : Three [3] years with an option to extend for two years at the discretion of the Bank.

D. Compensation : Fixed Pay - Rs.15000/- per month subject to achievement of minimum threshold premium of Rs.1 lakh per month i.e., Rs.12 lakhs per annum.

• Basic : Rs.10,000/-
• HRA : Rs.2,500/- [25% Basic]
• Conveyance : Rs.1,500/- [15% Basic]
• Medical Aid : Rs.1,000/- [10% Basic]

Variable Pay :

Over and above the threshold limit, he / she will be entitled for variable pay and the variable pay is equivalent to 15% of the commission received by the Bank, which shall be paid quarterly.

The contract appointees, who fail to achieve performance with a minimum threshold premium of Rs.3.00 lakhs per quarter, consecutively for two quarters, beginning from the second quarter of their appointment shall cease to continue as contract appointees of the bank from the last day of the month from the end of the second quarter under review.

However, if any candidate fails to achieve minimum threshold limit of Rs.3 lakhs in any quarter, Canara Bank reserves right to cancel the contract appointment.

E. Other Benefits :

• Casual Leave - 10 days per calendar year.
• Annual Leave - 20 days in a calendar year.

The Annual Leave can be encashed to the extent of 50% every year. Carry over of unavailed casual / annual leave shall not be permitted.

F. Other Conditions :

1. Applicable Income Tax shall be deducted as per provisions.
2. Either party may terminate the contract by giving one month notice in writing / by remitting one month's fixed compensation amount.
3. The Canara Bank will have the right to recover at its discretion, any loss or money due to the Bank, from the amounts due and payable by the Bank without prejudice to any other remedies the Bank may adopt for recovering the same.
4. 10% of the Basic will be deducted as employee's contribution towards Contributory Provident Fund and monthly contribution will be provided by the bank over and above the fixed compensation. The employee's contribution as well as Bank's contribution towards Contributory Provident Fund shall be settled at the time of cessation.
5. The Contract Appointee shall not be eligible for any perquisites whatsoever which are payable to permanent employees of the Bank.
6. Investment Officers recruited under the contract system are not eligible for pension in any form.

Canara Bank Recruitment 2010 Eligibility