State Bank of India declared notification to recruit Special Management Executives (SME) (Banking) for 554 vacancies. The tentative date of Online- examination is 18th June 2017. The SME (Banking) will be recruited in two grades viz: MMGS III and MMGS II. The eligibility criteria and exam pattern is different for the grades. An emolument is high for MMGS III.
Educational Qualification:
- For MMGS III Grade: CA / ICWA / ACS / MBA (Finance) or equivalent post graduation degree in Finance.
- For MMGS II Grade: CA / ICWA / ACS / MBA (Finance) or equivalent post graduation degree in Finance.
Emoluments: The scales of pay applicable to different grades are furnished above. The officials will also be eligible for DA, HRA and CCA as per rule in force from time to time. The compensation per annum on CTC basis at Mumbai is around Rs. 13.07 Lacs for an officer of MMGS - II and Rs. 15.86 Lacs for MMGS-III. In addition, the officers are also entitled to other benefits like -
- Medical Aid for self (100%) and for family (75%)
- Leased accommodation at place of posting or within Circle.
- Concessional Interest Rates for Housing/ Car/ Personal Loans.
Smart Compensation Package: The selected candidates will have the option to choose ‘Smart Compensation Package’ wherein above salary structure will be restructured by monetizing and clubbing the perquisites value.
| Particulars | MMGS-II | MMGS-III |
| Pay Slip Component | Existing | Existing |
| Smart Compensation Package (p.a.) | 2,28,903/- | 2,50,054/- |
| Superannuation Benefits | Existing | Existing |
| Medical | Actual / Existing | Actual / Existing |
| Leased House Accommodation / HRA | Actual / Existing | Actual / Existing |
| What is Smart Compensation Package (SCP) in SBI? SCP includes perquisites reimbursable on monthly basis such as- cleansing material, casual labour, newspaper, conveyance, entertainment, mobile call charges, furniture & Fixture, F& F Annual Maintenance, Mobile Handset, Briefcase, Utility item and, LTC/HTC. In last year, SBI announced that it plans to offer, subject to necessary approvals, a SMART Compensation Package which would give employees the choice to monetize specific elements of the salary package.
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Career Path for SME
Probation period for both the posts will be 1 year from date of joining. After completion of probation period successfully, the officers will be confirmed in respective grades and will be governed by extant specialist cadre placement and promotion policy. The officers can opt for conversion to General Cadre after completion of five years including probation period. In case of conversion to General Cadre, the seniority of the officers in specialist cadre will be protected for all future promotion.
Selection Procedure: Candidates will be selected through online objective test, group exercise and/or interview.
Exam pattern: MMGS-III grade post
| Test details | No. of questions | Marks | Time |
| General / banking awareness | 50 | 25 | 120 minutes |
| Reasoning, data interpretation and analysis | 50 | 50 | |
| English | 50 | 25 | |
| Financial data interpretation and analysis | 50 | 100 | |
| Total | 200 | 200 |
Exam pattern: MMGS-II grade post
| Test details | No of questions | Marks | Time |
| General / banking awareness | 50 | 25 | 120 minutes |
| Reasoning, data interpretation and analysis | 50 | 50 | |
| English | 50 | 25 | |
| Financial data interpretation and analysis | 50 | 50 | |
| Total | 200 | 150 |
Note: Candidates are required to qualify in each of the objective tests by securing minimum passing marks, which will be decided by the bank.
Group Exercise and / or Interview (50 marks): The marks of objective test of the qualified candidates will be arranged in descending order of merit and candidate’s maximum three times of the number of vacancies in each category will be called for group exercise and/ or interview. The qualifying marks in group exercise and/ or Interview will be as decided by the bank. The candidates will have to qualify both in Online Test and GE & Interview separately. Marks secured by the candidates in the Online Examination will be normalized to out of 75 and marks secured in Group Exercise and / or Interview (out of 50 marks) will be normalized to out of 25. The final merit list will be arrived at after aggregating normalized marks of Online Examination and Group Exercise & Interview. The selection will be made from the top merit ranked candidates in each category.
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