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The Oriental Insurance Company Limited., a leading Public Sector General Insurance Company & wholly owned by Government of India, invites applications for recruitment of 300 ( Three Hundred ) Officers in Scale I cadre from open market

Kindly note :

Dates of online Examination  : Phase – I : 22.10.2017 (Tentative)
                                                Phase – II : 18.11.2017 (Tentative)

Start date for Online Registration: 18.08.2017

Last date for Online Registration: 15.09.2017

The vacancies are provisional and may vary according to the actual requirements of the Company at the material time. 

Eligibility Criteria (as on 31.07.2017)

A)  Nationality : 

A candidate applying for recruitment in the Company must be either-

(a) a citizen of India, or

(b) a subject of Nepal, or

(c) a subject of Bhutan, or

(d) a Tibetan refugee who came over to India before 1st January, 1962 with the intention of permanently settling in India, or

(e) a person of Indian origin who has migrated from Pakistan, Burma, Sri Lanka, East African countries of Kenya, Uganda, the United Republic of Tanzania, Zambia, Malawi, Zaire, Ethiopia and Vietnam with the intention of permanently settling in India. 

Provided that a candidate belonging to categories (b), (c), (d) and (e) shall be a person in whose favour a certificate of eligibility has been issued by the Government of India.

B) Educational Qualification (as on 31.07.2017)

Candidate should possess certificate in proof of passing the qualifying examination as on 31.07.2017

For Generalist Stream, Graduate in any stream with 55% for SC/ST  and 60% for Others from a recognized University
For Specialist Stream a candidate must possess the minimum qualification of Degree in the relevant discipline from a recognized University OR any equivalent qualification recognized as such by Central Government:
The minimum Educational Qualifications required for various disciplines are:

Sl. No. Discipline Minimum Qualification
1 Accounts M.Com. with 55% for SC/ST  and 60% for Others from a recognized
Chartered Accountants (ICAI)
Cost and Management Accountant (The Institute of Cost Accountants
of India) earlier known as Cost and Wok Accountants (ICWAI)
MBA (Finance) with 55% for SC/ST  and 60% for Others from a
recognized University
2 Legal Graduate in Law with 55% for SC/ST  and 60% for Others from a
recognized University
3 Generalist Graduate in any stream with 55% for SC/ST  and 60% for Others
from a recognized University
4 Actuaries Graduate with 55% for SC/ST  and 60% for Others  in any discipline
from a recognized university
has passed 4 Actuarial Papers from Institute of Actuaries of India (IAI)
or Institute and Faculty of Actuary, UK (IFoA)
5 Engineers
Graduate/Post Graduate Degree in engineering(4 or 5 Years) with
automobile engineering as a subject, with 55% for SC/ST  and 60% for Others from a recognized University
6 Medical

a) Qualifications mentioned above should be from any of the recognized Indian Universities duly approved by the UGC or any of the recognized Indian Institutes duly approved by AICTE.
b) Preference will be given to candidates having post qualification experience in their area of specialization. Company’s decision in this regard shall be final.
c) The candidate must possess valid Mark-sheet / Degree Certificate of the necessary qualification as on 31.07.2017.

C) Age – (As on 31.07.2017):

Minimum Age: 21 years
Maximum Age: 30 years, as on 31.07.2017
i.e. a candidate must have been born not earlier than 1st August 1987 and not later than 31st July 1996 (both dates inclusive).

Emoluments and Benefits:

Basic   pay   of   Rs.32795/-   in   the   scale   of   Rs.32795-1610(14)-55335-1745(4)-62315   and   other   admissible allowance as applicable. Total emoluments will be approximately Rs. 51000/- p.m. in Metropolitan Centers.
Other benefits such as Pension under New 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 Companys / leased accommodation as per norms.

Service Conditions:
The   service   conditions   will   be   applicable   as   per   the   prevalent   rules   of   the   company   from   time   to   time.
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 Hubli region of Karnataka, the state of Gujarat, Tamilnadu, Kerala, Mumbai and its suburbs. The minimum stay at the initial place of posting will be 5 years.

Probation :
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 the 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:
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 the 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  years   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.40,000/-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 m

Application Fees /Intimation Charges(Non-refundable) : 

Payable on-line from 18.08.2017 to 15.09.2017 (both dates inclusive)
SC/ ST / PWD / Confirmed employees of Oriental Insurance Co.    -   Rs. 100/- (Intimation Charges Only)

All candidates other than SC/ ST / PWD / Confirmed employees of Oriental Insurance Co.  -   Rs. 600/- (Application fee including intimation charges)

The transaction charge, if applicable, is to be borne by the candidate. Fee/ Intimation charges once paid will NOT be refunded on any account nor can it be held reserve for any other examination or selection.

Candidates can apply online only from 18.08.2017 to 15.09.2017 and no other mode of application will be accepted.
Candidates to go to the Companys website http:// and click on the option "APPLY ONLINE" which will open a new screen.












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