The Small Industries Development Bank of India (SIDBI) has announced contractual recruitment for Specialist Officers. The available positions include Economic Advisor (EA) and Project Manager (Premises) [PMP], both based in Mumbai but transferable.
The EA role requires a Master’s in Economics/Applied Economics (PhD preferred) with 4+ years of experience in banking, finance, and economic research, offering a salary of up to ₹40 lakh per annum. The PMP role requires a Graduate/Postgraduate degree in Civil Engineering/Architecture with 15+ years of experience in civil construction and project management, offering a salary of up to ₹55 lakh per annum. Both contracts are for three years, extendable up to two more years, with annual performance reviews.
The selection process involves shortlisting and an online interview, with merit-based selection. Applications must be submitted via email (recruitment@sidbi.in) by March 26, 2025, in a prescribed format, along with necessary documents. Reservations are provided as per Government of India norms. Candidates from government or PSU roles require a No Objection Certificate (NOC). Appointments are subject to background verification, medical fitness, and other pre-recruitment formalities. The interview will be conducted online, and SIDBI holds the right to modify the selection process as needed.
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The Small Industries Development Bank of India (SIDBI) was established on April 2, 1990, under an Act of the Indian Parliament. It serves as the Principal Financial Institution responsible for the promotion, financing, and development of Micro, Small, and Medium Enterprises (MSMEs). Additionally, it plays a coordinating role among various financial institutions engaged in similar activities to ensure the sustainable development of the MSME sector.
SIDBI Recruitment Notification
SIDBI invites applications for Specialist Officers on a contractual (full-time) basis. SIDBI has invited applications for the engagement of Specialist Officers on a full-time contractual basis. The recruitment drive includes two positions: Economic Advisor (EA) and Project Manager (Premises) [PMP], both based in Mumbai. The appointments are subject to the bank’s discretion and may involve transfers to other locations if required.
Posts Available:
- Economic Advisor (EA) – 1 Vacancy (Mumbai)
- Project Manager (Premises) [PMP] – 1 Vacancy (Mumbai)
Economic Advisor (EA) – Details
A. General Details
The Economic Advisor position, identified by Post Code 01, is a contractual, full-time role based in Mumbai, though the bank retains the right to transfer the employee to any of its offices or subsidiaries as per business requirements. The contract is initially set for three years and may be extended for an additional two years at the bank’s discretion. Either party can terminate the contract with a three-month notice period or payment in lieu of notice.
B. Job Responsibilities
The Economic Advisor will provide strategic inputs on macroeconomic and banking developments in India and globally to the bank’s top management. The role involves offering policy insights based on macroeconomic trends and contributing to policy formulation, analysis, and communication. The incumbent is expected to be well-versed in banking, financial, investment, and economic policies. Responsibilities also include conducting periodic analysis and preparing presentations on the bank’s business profile for stakeholders. Additionally, the Economic Advisor will coordinate with agencies for primary research through surveys and interviews, conduct secondary research, and prepare reports. The bank may assign other duties as needed.
C. Eligibility Criteria
Applicants must be between 24 and 45 years of age as of February 28, 2025. They should hold a Master’s degree in Economics or Applied Economics from a recognized Indian or foreign university, while a Doctorate in Economics, Banking, or Finance is preferable. Candidates with published research papers in relevant fields will have an added advantage. A minimum of four years of post-qualification experience in banking, finance, economic research, budgeting, and forecasting is required. The candidate should possess expertise in economic analysis and policy formulation. Applications lacking experience certificates will be rejected.
D. Salary & Benefits
The remuneration for this role is set at a maximum of ₹40 lakh per annum, depending on the candidate’s qualifications, experience, and suitability. The salary includes a fixed component and a performance-based variable component, with provisions for annual increments based on performance reviews.
Project Manager (Premises) – Details
A. General Details
The Project Manager (Premises) position, identified by Post Code 02, is a contractual, full-time role based in Mumbai, with the possibility of transfer to other locations at the bank’s discretion. The contract is for three years, extendable up to two additional years, subject to the bank’s decision. A three-month notice period or equivalent salary applies in case of contract termination from either side.
B. Job Responsibilities
The Project Manager (Premises) will be responsible for developing detailed project plans for civil and fit-out works, including timelines, budgets, resource allocation, and scope of work. The role involves managing the procurement process by soliciting bids, evaluating proposals, and negotiating contracts with contractors and vendors. The incumbent will oversee project execution, ensuring adherence to plans, timelines, and quality standards, while also identifying and resolving project-related issues. A strong understanding of building systems such as electrical, plumbing, HVAC, and structural components is necessary. Additionally, the Project Manager will collaborate with internal stakeholders, maintain communication with external contractors and consultants, and manage project budgets by tracking expenditures and identifying cost-saving opportunities. Experience working with state and central government organizations, particularly in the banking sector, is preferred. The candidate should be capable of independently handling projects.
C. Eligibility Criteria
Applicants must be between 35 and 55 years of age as of February 28, 2025. They should possess a graduate or postgraduate degree in Civil Engineering or Architecture from a recognized Indian or foreign university. A minimum of 15 years of experience in civil construction project execution and supervision, particularly in office buildings, commercial spaces, or residential complexes, is required. Candidates should have knowledge of RCC design, project management tools, and tender preparation. Applications without valid experience certificates will be rejected.
D. Salary & Benefits
The maximum remuneration for this role is ₹55 lakh per annum, including a fixed component and a variable performance-based component. Annual increments will be considered based on performance reviews.
Reservation Policy
Reservations and relaxations for SC, ST, OBC, EWS, and PwBD candidates will be provided as per Government of India guidelines. Candidates must produce a valid certificate issued by a competent authority. The PwBD vacancies are horizontal in nature, meaning they are distributed across the overall vacancies rather than being in a separate category.
Selection Process
Candidates will be shortlisted based on their qualifications and experience. The selection process will consist of an online personal interview conducted by a Selection Committee. The final merit list will be prepared based on interview performance. In the case of candidates scoring equal marks, ranking will be determined based on age, with older candidates being given priority. A waitlist may be created, and SIDBI reserves the right to consider waitlisted candidates if needed.
Application Process
The application deadline is March 26, 2025. Candidates must send their applications via email to recruitment@sidbi.in. The subject line should clearly state the Post Code, Name of the Post, and the Candidate’s Name. Applications must include self-attested copies of identity proof, age proof, educational qualification certificates, experience certificates, and category certificates (if applicable). Handwritten applications will not be accepted. Incomplete applications or those received after the deadline will be rejected.
Applicants must be Indian citizens. Those currently employed in government or public sector organizations must submit a No Objection Certificate (NOC) from their employer at the time of the interview. The selection decision will be final, and no correspondence regarding the process will be entertained.
Candidates must ensure they have stable internet access for the online interview. If selected, they will undergo a background verification, medical fitness check, and character verification. Any falsification of information may result in disqualification or termination of employment. The applicant will be liable for legal consequences if any false information is discovered at a later stage. SIDBI reserves the right to modify the selection process if necessary. Canvassing in any form will lead to disqualification.
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