Ref: AXISB/HR/REC/CO/ABYBP/032012B-274
Date: 13 February 2012
Mr. Raj Kumar B.I.E.T BOYS' HOSTEL,KALPATARU BLOCK,ROOM NO-5,DAVANGERE,KARNATAKA-577004 Davangere 577004 Karnataka No: 8088010198/ 0612-2214741
Email ID:
[email protected] Test ID: LK-175
AMCAT ID : 11540004971194
Dear Mr. Raj Kumar,
LETTER OF ISSION TO AXIS BANK YOUNG BANKERS PROGRAM CONDUCTED BY MANIPAL GLOBAL EDUCATION
This is in reference to your application to the Axis Bank Young Bankers Program being conducted in association with Manipal Global Education for a Post Graduate Diploma Course in Banking Services awarded by Manipal University.
We take pleasure to inform that subsequent to the selection process, you have been found successful for ission to the said program.
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Your ission to Axis Bank Young Bankers Program will be subject to the following conditions;
a. Your fulfilling the prescribed eligibility criteria i.e. prescribed age between 21years to 24 years of age as on 01-Jan-2012 and the basic educational qualification of Graduation.
b. Your being found medically fit
c. Submission of documents/ certificates as listed in the Annexure C in original along with 2 sets of photocopies self-attested, at the time of reporting to the Manipal University Bangalore Campus .
The above referred certificates / documents / information submitted by you shall be deemed to be material for the purpose of this ission. If any of these certificates, documents, information, statements, claims are found to be false or incomplete; your ission is liable to be terminated, forthwith as having been secured on misrepresentation / suppression of facts.
d. While in the Program you will be eligible for a Stipend as mentioned below;
During the 9 months of on Campus training: Rs.3000/- per month
During the 3 months of Internship at Axis Bank Branches: Rs.12000/- per month
e. The course fees payable to Manipal Global Education, for this one year Full-time Post Graduate Diploma Course is Rs. 3,00,000/-(Rupees Three lakhs) plus service taxes as applicable.
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The said fees will be payable to Manipal Global Education in three equal installments at the beginning of each trimester.
At the time of ission, therefore, an amount of
Rs.1,00,000/- (Rupees One lakh) plus
applicable taxes of 10.3% amounting to a total of Rs.1,10,300/- will be payable, immediately.
The fee amount is all inclusive, covering course fees, course material, boarding and lodging during the nine months on-campus period but exclusive of any out-of-pocket expenses.
For the 3 month internship period you will be posted at any branch of Axis Bank across the country. During this period the stipend of Rs. 12000/ per month, all inclusive will be paid to you.
Kindly note that no refund of the course fees will be permissible in any circumstances, as notified by Manipal Global Education.
The details and payment method for paying these fees is mentioned in
ANNEXURE B
attached to this letter. You will need to specifically accept the and clauses mentioned in this letter.
f. As a Part of the Axis Bank Young Bankers Program, you will be bound by the Code of conduct and Rules of the Program. These will be applicable to you both on and off the Campus.
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A copy of the Student Handbook will be provided to you. The Important rules that govern your stay in the campus and as a part of the program are explained therein. Any other applicable rules will be displayed on the notice boards for the students on the campus.
g. In case you are unable to complete the course / unable to all the subjects / unable to get the required credits as stipulated within the one year course duration, this offer of subsequent appointment with Axis Bank, shall stand withdrawn automatically. Any additional expenses required to be incurred in appearing for repeat attempts will have to be borne by the candidate, with no commitment of appointment to the Bank.
h. In case you are unable to complete the course for any reason, you will be liable to make payments towards the Fees and other academic charges for the entire course to Manipal Global Education. Axis Bank will not be liable for any payments or claims in this regard.
i. After successful completion of the said course under Axis Bank Young Bankers Program, you will be appointed in the Bank in the position of Assistant Manager and posted at any of the Branches of Axis Bank, with an indicative CTC (Cost To Company) of Rs. 3.42 Lakhs per year. This CTC is inclusive of Retrial’s, Performance Bonus and Staff Loan Benefits. Details Breakup of the CTC mentioned above is attached in Annexure A. You are requested to please read the same carefully.
Kindly note that your Provisional Appointment letter has the full details of the and conditions of your subsequent employment with the Bank. This letter is being sent to you separately, by email itself.
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Successful completion of the Axis bank Young Bankers Program implies fulfilling of the following conditions; o
Completion of the, 9 months of classroom training and 3 months of Internship, leading to the conferring of a Post Graduate Diploma in Banking Services, by Manipal University.
o
All papers of all 3- Trimesters need to be necessarily ed within the one year course duration only.
o
Satisfactory conduct throughout the program.
Upon completion of all the above conditions you will be given a Letter of Appointment with the details of your posting to a Branch and your exact compensation breakup. Your ing in the services of the Bank as per the Bank’s records for purpose of your employment with us will be considered as the next working day subsequent to your course completion.
Kindly note that you are required to convey your acceptance to this ission letter on or before 15th Feb 2012, by email to the Email ID:
[email protected], with your Letter Ref no: and Full Name.
In case we do not receive your acceptance to this letter by the said date, the ission to the said program shall be withdrawn without any recourse to you.
For any further information / clarifications feel free to :-
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Mr. Harshad Pai AVP. Human Resources AXIS House, 6th floor, P.B. Marg, Wadia International Centre Worli, Mumbai- 400 025, India. Email Id :
[email protected]
We at Axis Bank wish you success and look forward to your having a long and rewarding career with us!
Yours faithfully,
_______________________________________ Vineet Agrawal Vice President – Human Resources
Encl: - a/a 1) Annexure A (Indicative Compensation Breakup) 2) Annexure B (Steps until ing the program at Bangalore, with Axis Bank Education loan details) 3) Annexure C (Checklists of the Documents required for the loan and ing process at Bangalore) Page 6 of 19
4) Pay-In-Slip Format for submission of 1st Trimester fees
ANNEXURE A: Grade & Indicative Compensation offered for the successful students Axis Bank Young Bankers Program Grade: Assistant Manager
COMPENSATION BREAKUP
Amount Annual (Rs)
Basic
Monthly (Rs)
Rs90,000
Rs7,500
Rs45,000
Rs3,750
Rs9,600
Rs800
Medical
Rs15,000
Rs1,250
# House Rent Allowance
Rs45,000
Rs3,750
Leave Travel Concession
Rs15,000
Rs1,250
Rs9,000
Rs750
Rs2,28,600
Rs19,050
Rs10,800
Rs900
Rs4,332
Rs361
Allowances:
Fixed Allowance Conveyance
Superannuation Allowance
SUB TOTAL - I (Fixed Cash) Retirals:
Bank's PF Contribution Gratuity
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Group Mediclaim & Term Insurance
SUB TOTAL - II (Retirals)
TOTAL PAY (Fixed Cash + Retirals) Indicative Annual Performance linked Bonus
TOTAL PAY (Fixed Cash + Retirals + Performance Bonus)
Rs7,980
Rs665
Rs23,112
Rs1,926
Rs2,51,712
Rs20,976
Rs25,000
Rs2,083
Rs2,76,712
Rs23,059
*In addition to the above mentioned Compensation details you will be eligible for a Staff Loan at subsidized Interest rate after confirmation of your services in the Bank. Staff Loan eligibility and are as per the staff loan rules. The benefit accrued to you when you avail all these Staff loans is calculated at Rs. 65640/- annually. This amount is not encashable and benefit will be applicable only if the Staff Loans are availed. (Details are shown below to calculate your CTC)
* Loan Benefit (as per Staff loan rules)
Rs65,640
CTC Rs3,42,352
Rs5,470
Rs28,529
# House Rent Allowance: Mentioned above is the lowest. The HRA amount is linked to your place of posting and will change based on your final Posting location. The highest HRA for the Assistant Manager Grade is Rs.6375/- pm for Mumbai. NOTE: The CTC mentioned in this sheet is based on the current year's salary norms. As per the Bank's Compensation strategy the salary undergoes revision each year. The CTC applicable to you shall be the CTC applicable to the Assistant Manager Grade at the time of your ing active service with the Bank.
ANNEXURE B: Steps for your ing the Young Bankers Program at Bangalore Step 1: Acceptance of the ission Letter
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○
Acceptance on email with subject as: “ACCEPTANCE of Letter Ref: AXISB/HR/REC/CO/ABYBP/032012B-274“ sent to
[email protected]. The same needs to reach on or before 15th Feb 2012.
Step 2: Completing the Medical test
○ ○ ○ ○ ○
Post receipt of acceptance, Bank’s authorized agency M/s UHCI, will you for scheduling your medical test. Your medical test has to be completed on or before 18th Feb 2012 Cost of this medical examination will be borne by the Bank Your medical fitness status will be advised to you by email Once you are advised of Medical fitness, please deposit the fees for course.
Step 3: Payment of Fees
Particulars
Full Course fees Service Tax (10.3%) Term Life Insurance, Single (for 7 yr on Sum Assured of Rs. 300000) Total
Payment Frequency
Mode of Payment
: Fees Structure and method of payment is given as below
OPTION 1) Self-Funding / Education Loan from another Bank /Organization
OPTION 2) Education loan from Axis
Rs.3,00,000/Rs.30,900/-
Rs.3,00,000/Rs.30,900/-
Not Applicable
Rs.3,514/-
Rs.3,30,900/-
Rs.3,34,414/-
In 3 Installments of Rs 1,10,300/- before beginning of each Trimester or entire amount can be deposited together.
Loan will be disbursed in 3 Installments before beginning of each Trimester. Amount will be disbursed directly by Bank to Manipal Global Education Services P.Ltd
Bank
Remarks
* *Kindly note that ission to this program does not imply that Education loan will mandatorily sanctioned by Bank. It is subject to completion of documentation as per Bank’ Education loan scheme. Details of Scheme and Documents required to process are given below. Please comply very carefully to avoid rejection of loan
Payment by Payorder/Draft/NEFT/RTGS only.
No Cash /Cheques will be accepted
Name of in whose favour Payorder/Draft/RTGS/NEFT needs to be made : (use attached Pay-In-Slip format for the payments) Manipal Global Education Services P. Ltd Number 009010200021748 IFSC Code (for RTGS / UTIB0000009 NEFT)
Due date of Payment
By 20th February 2012 Page 9 of 19
IMPORTANT INSTRUCTIONS:
Please carry the correct 3rd Pay-in Slip portion duly stamped by the Bank Branch as proof of the deposit. OR
In case of NEFT/ RTGS transfers, please carry the transaction notification copy as proof along with the Transaction ID for the same
Axis Bank Education Loan details :
The details of the Education Loan for the Young Bankers Program are mentioned below; 12% compounded Rate of Interest (this is a special rate of interest offered for the Young Bankers Program only)
Tenure of Loan
7 years
Moratorium
18 months from Date of ing Program. No Principal to be paid. Only Interest to be serviced every month from date of disbursement. 1st EMI will be due 6 months after starting work with Axis Bank
Margin Money
NIL.
Processing Fee
NIL.
Other charges
Out of pocket expenses like Stamp Duty / document Franking / Security creation etc. will need to be borne by applicant. These charges will not exceed Rs.2500/- and have to be paid in cash at the time of loan processing at Bangalore
Co-applicant required Security
Co-Applicants can be Parents/ Guardian/ Elder sibling / Grand Parents/ Spouse Co-applicant is required to travel to Bangalore for the loan processing and documentation. Co-Applicant needs to carry all the required documents as listed in Page 10 of 19
Annexure C.
Documents
Documents as mentioned in ANNEXURE C will be required for the loan processing.
Education loan payout Snap Shot - Indicative for a loan of Rs 3,34,414/- (incl. taxes and Insurance ) for a term of 7 years.
Stage
Period
1st Trimester
1st to 3rd month
2nd Trimester
4th to 6th month
3rd Trimester
7th to 9th month
Loan amt disbursed
Rate of Interest
EMI amount
Remarks
12% Rs. 1,13,814
Compound interest
Rs. 1,138
12% Rs. 2,24,114
Compound interest
Rs. 2,241
12% Rs. 3,34,414
Compound interest
The first 18 months are in the Moratorium period of the Education Loan. Thus only Interest on the amount disbursed for the said period
Rs. 3,344
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Branch Internship
10th to 12th month
ed in Bank as AM
13th to 18th month
12% Rs. 3,34,414
Compound interest
Rs. 3,344
12% Rs. 3,34,414
Compound interest
Rs. 3,344
On completion of 6 months of active service in the Bank the Candidates will be confirmed, subject to Satisfactory Performance during this period. Post Confirmation the existing Commercial Education Loan shall be converted to a Staff Education Loan. The Staff Education loan will be at 8% simple interest for the remaining period of 66 months. 19th to 64th month
65th to 84th month
Total Principal Rs. 3,34,414 Accumulated Interest Rs. 52,392
From 19th to 84th month
8% Rs.7,270
Entire Principal will be paid off in 46 months
Rs.2,620
Entire Interest will be paid off in 20 months
Simple interest
8% Simple interest
8% Simple interest
Average EMI Rs. 5,861 post conversion to Staff Edu. Loan
Step 4: Reporting for the Program at Bangalore
○
The program will start on 5th March 2012. You shall be required to report on 2nd/3rd March 2012 at Bangalore and may plan your travel accordingly. Page 12 of 19
○
A Help Desk will be set up at the Railway stations (Not at Airport/bus stands) at Bangalore.
○
From the Help Desk, you would be taken to the Campus and respective Hostels.
○
If your parents / guardians are coming with you to Bangalore for loan processing or escorting you, they would have to make their own arrangements for local stay and local travel including travel from railway stations. Manipal University will arrange only for your pickup from railway station and stay in hostel.
○
Please note that no traveling expenses towards ing the program shall be reimbursed by the Bank.
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ANNEXURE C: Checklist of Documents that you need to carry with you to Bangalore:
The below list of documents will be used for your Education Loan, Opening of Savings and ing documentation in Bangalore.
Address Proof (Any 1 document showing clearly Communication address where you reside )
Check
Birth Date Proof (Any 1 document)
1 port
1 port
2 PAN
2 Driving License
3 Driving License
3 Birth Certificate
4 Ration card
4 School Leaving Certificate
5 Latest Electricity Bill (Paid)
5 SSC / HSC certificate
6 Election Card / Voter Card
6 Election Card / Voter Card
Identity Proof (Any 1 document)
Check
Signature Proof (Any 1 document)
1 port
1 port
2 Driving License
2 Driving License
Check
Check
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3 PAN
3 PAN
4 Election Card / Voter Card 5 Aadhar Card
Academic Certificates (All Documents)
Check
1 10th / SSC Marksheet and Certificate Other Documents
Check
port size photos (min 6 photos) Formal 1
attire, 3.5cms X 4.5 cms, Light colour background
2 12th / HSC Marksheet and Certificate Graduation Marksheet and Certificate 3 (all Years)
PAN (Or confirmation of application for 2 PAN)
Candidate should carry these documents in
○ ○
Original documents for verification. 3 sets of self-attested Photocopies of the entire set.
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Checklist of Documents that the Co-Applicant for the Axis Bank Education loan needs to carry to Bangalore:
This is only applicable for the Candidates who apply for the Education Loan from Axis Bank.
Address Proof (Any 1 document showing clearly communication address where you reside)
Check
Birth Date Proof (Any 1 document)
1 port
1
port
2 PAN
2
Driving License
3 Driving License
3
Birth Certificate
4 Ration card
4
School Leaving Certificate
5 Latest Electricity Bill (Paid)
5
SSC / HSC certificate
6 Election Card / Voter Card
6
Election Card / Voter Card
Identity Proof (Any 1 document)
Check
Signature Proof (Any 1 document)
1 port
1
port
2 Driving License
2
Driving License
3 PAN
3
PAN
Check
Check
4 Election Card / Voter Card 5 Aadhar Card
Other Documents
Check
These documents are needed in Original as well as Photocopies. Co-applicant will need 2 sets of photocopies.
1 port size photos (min 4 photos) 2
Cheque book containing min. 5 cheque Page 16 of 19
leaves PAN (Or confirmation of application for 3 PAN)
Income Proof (Any 2
of below
document) 1 Latest Income Tax returns filed 2 last 6 months Bank statement 3 Form 16 A from employer
Check
IMPORTANT : The Co-Applicant needs to travel alongwith the candidate to Bangalore to complete the Loan documentation and signatures in the Loan forms.
4 6 months’ Salary slips Income certificate from Government 5 body
Page 17 of 19
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Branch:
Branch:
2nd Copy
Rs. 1,00,000 / -
Rs. 1,00,000 / -
Drawn on Bank & Location :
Depositors signature : Received above amount on : DD - MON - 2012 Finacle Transaction ID:
Cashier sign & Stamp:
NOTE: Please accept this payment and credit: MANIPAL GLOBAL EDUCATION SERVICES P.Ltd Current A/c No. 009010200021748 Also please do note the Finacle Transaction ID in the section above
Drawn on Bank & Location :
Depositors signature :
Received above amount on : DD - MON - 2012
Finacle Transaction ID:
Cashier sign & Stamp:
NOTE: Please accept this payment and credit: MANIPAL GLOBAL EDUCATION SERVICES P.Ltd Current A/c No. 009010200021748 Also please do note the Finacle Transaction ID in the section above
Cheque/ DD/ PO Date.:
Cheque/ DD/PO no.:
Cheque/ DD/PO no.:
Cheque/ DD/ PO Date.:
Rupees one lakh ten thousand three hundred only.
Total Rs. 110300 /-
Total Rs. 110300 /-
Rupees one lakh ten thousand three hundred only.
Service Tax (10.3%) Rs. 10,300 /-
Service Tax (10.3%) Rs. 10,300 /-
Fee Amout Paid
1st Trimester Fee payment details
1st Trimester Fee payment details
Fee Amout Paid
SERVICES P.Ltd Current A/c No. 009010200021748
SERVICES P.Ltd Current A/c No. 009010200021748
AXISB/HR/REC/CO/ABYBP/022012B-0 ______
AXISB/HR/REC/CO/ABYBP/022012B-0 ______ Please credit: MANIPAL GLOBAL EDUCATION
Letter Ref. No. :
Letter Ref. No. :
Please credit: MANIPAL GLOBAL EDUCATION
Candidate Name:
(To be retained by Fee Paying person)
PAY IN SLIP
Young Bankers Program
Candidate Name:
(To be retained by Axis Bank Collecting Branch)
Date:
1st Copy
Date:
PAY IN SLIP
Young Bankers Program 3rd Copy
Rs. 1,00,000 / -
Cheque/ DD/ PO Date.:
NOTE: Please accept this payment and credit: MANIPAL GLOBAL EDUCATION SERVICES P.Ltd Current A/c No. 009010200021748 Also please do note the Finacle Transaction ID in the section above
Cashier sign & Stamp:
Finacle Transaction ID:
Received above amount on : DD - MON - 2012
Depositors signature :
Drawn on Bank & Location :
Cheque/ DD/PO no.:
Rupees one lakh ten thousand three hundred only.
Total Rs. 110300 /-
Service Tax (10.3%) Rs. 10,300 /-
Fee Amout Paid
1st Trimester Fee payment details
SERVICES P.Ltd Current A/c No. 009010200021748
Please credit: MANIPAL GLOBAL EDUCATION
AXISB/HR/REC/CO/ABYBP/022012B-0 ______
Letter Ref. No. :
Candidate Name:
(To be submitted by candidate at time of ing YBP as proof of payment)
Branch:
Date:
PAY IN SLIP
Young Bankers Program
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