Guys,
1. In clause9, it clearly says "In the event of your discontinuation from the MBA (Finance & Banking) Programme" . So this clause holds true only if you discontinue your 2 yr mba course. In that case they will charge 15% interest from the start date to date when you discontinue the program. After that till you repay the entire amount they will charge you 24% for the remaining days. Hope that clears everything.
2. There is already a 20 lakh bond for 3 yrs. So i feel if you discontinue after 3 yrs and within 60 months (5yrs) then you might have to pay the remaining loan amount at charges which ICICI bank has not prescribed. SO WE SHOULD CLARIFY FROM THEM WHAT WILL HAPPEN IF WE LEAVE AFTER 3 YRS BOND PERIOD.
3. Pls dont expect ICICI to reveal the break up of 15 lakh CTC. Even during placements at IIM they dont reveal these details for that case any other company.Thats what I heard from some of my IIM friends. These details you could get through current contacts from ICICI Bank.
4. Im not surprised to see that 4.5 lakhs is only tuition fees. All colleges have their hostel,food,book,laptop as extra charges apart from tuition fees. But we can check with them why they are charging us for an entire year. This is not fair.
5. And regarding posting location we have no say.Im hoping it would be at corporate offices in Tier 1 cities or Tier 2 max.But as Rahul said there is a chance that we might get posted in small towns also.
Guys, at this point at least ICICI has mentioned most of the points in their terms and conditions. We know what we can expect post the 2yr MBA. So its our call.
Guys, I agree with Rajesh.....
I had a discussion with a friend on mine in ICICI bank & he told that sometimes MG-II level guys are posted in small towns too..... In the terms & conditions, they have mentioned "anywhere" in India, which really means anywhere.... Would that really be the case??? PLEASE COMMENT
They neither reply the mails nor the calls..... Dont know what else can be done?????
Guys, the M2 grade has different positions in different subsidiaries within ICICI. Yes there will be a M2 in a branch in a small town. But he might be some one who has been promoted from AM-1,Am2,M1 in that branch. Remember that we are specializing in Corporate Banking, Risk Management,IT Management.So most of our roles should be in corporate offices.We might be put in branch offices for certain period of our internship to get first hand idea of how a bank works. But post MBA i dont think we would be placed in branches in small towns.
Regarding hostel/food fees. I assume hostel fees for us should be 50k cos we will be staying only for 6 months. In that case total hostel acco+food will be 50+36 = 86000. And we will be getting a stipend of 60k during the 6 month period. Remember the company is providing stipend both 10k as we ll as 50k to take care of the extra expenses like acco/food during internship.
In the terms and condition letter they have clearly stated that During Internship there would be no accomodation..But during classroom traning they have not mentioned anything..I think it should be there for us as NIIT univ has residential programs..
Hey how many of us are still in ,as there is lot of apprehensions related to many clauses and the last date for acceptance is not far away 18 march.
If there is any possibility of a change or clarifications........Did anyone got a relevant reply of any of the above queries which were asked to icici ......
I am absolutely confused..........now.........help me out guys....:drinking:
I feel if i will join i will be alone......
Some points need to be clarified....which will be only known to us when we send the acceptance like Grade on joining the Bank and other things..
But I am still In.:)
Guys, can we all visit the HR centre in ICICI once? We can meet in Mumbai on some date & together visit the HR centre & ask those guys replies to our queries coz this way it is not working..... I am requesting every1 to come coz if just one or two of us go, they wont entertain..... But if the group has about 10 guys, they would surely reply to our queries....
Comments welcome
I am ready any day ....
Hey how many of us are still in ,as there is lot of apprehensions related to many clauses and the last date for acceptance is not far away 18 march.
If there is any possibility of a change or clarifications........Did anyone got a relevant reply of any of the above queries which were asked to icici ......
I am absolutely confused..........now.........help me out guys....:drinking:
I feel if i will join i will be alone......
No buddy, you won't be alone, count me
Just to ask one thing as you guys know better then me,
Manager Grade -II is middle management?
Yes Manager Grade-II is middle management...... Do you have any idea about job locations post-MBA?
Hey Puys,
I have also gone thru the terms and conditions but will write in detail to the ICICI guys (this weekend). Please update us all if somebody has already written and got any reply before we put down the papers. the clause that we cannot pay loan before 60 months and after completing the 3 years bond can we pay at the same interest is also not clear. if the interest is 24% (in case of discontinuation of services after 3 years of bond) if i understand it correctly then ACTUALLY the bond is for 5 years and not 3 years.... 
I will write in details to ICICI bank and will update if I get any reply. I expect all will post here in this forum if we get any reply from the bank. I agree from the previous post that ever word is important in terms so better if we paste/post the exact content of the mail if we get any reply from the bank. Comments/suggestions welcome... I thought of putting down papers but i guess i need to wait till we get any clarification on these points.... 😞
You are right Sidd.... But what do you think about going to ICICI HR directly & talking to them? I have already put papers yesterday coz wotever would be the case, I guess this is a good opportunity..
Hey Puys,
I have also gone thru the terms and conditions but will write in detail to the ICICI guys (this weekend). Please update us all if somebody has already written and got any reply before we put down the papers. the clause that we cannot pay loan before 60 months and after completing the 3 years bond can we pay at the same interest is also not clear. if the interest is 24% (in case of discontinuation of services after 3 years of bond) if i understand it correctly then ACTUALLY the bond is for 5 years and not 3 years....
I will write in details to ICICI bank and will update if I get any reply. I expect all will post here in this forum if we get any reply from the bank. I agree from the previous post that ever word is important in terms so better if we paste/post the exact content of the mail if we get any reply from the bank. Comments/suggestions welcome... I thought of putting down papers but i guess i need to wait till we get any clarification on these points.... :(
I too stand in a similar situation
I have mailed them yesterday but did not get reply till now. The mail includes the queries related to joining date, accommodation and fee structure during training..
guys i see the joining date as a big problem since it is hardly a month 😞 unfortunately there is no buy out option in our company. is anyone else suffering from the same problem?
My humble request to all,
Dosto Itna mat daro......sab accha hi hoga hamare liye....WE ARE THE CHOOSEN ONE
CHEERS
I have an analysis regarding the number of people selected at various stages, let me know if this is correct or not.
Out of all the applicants (I don't know what was that number) there were 120-130 people selected for GD round in each location. There were 9 locations in total where GD was held, this was confirmed by the GD coordinator, at Mumbai. Out of these 1100 (approximating 120*9) people who had their GD, half were selected for PI round. So that makes 550 (again, approx) candidates interviewed. Considering the persons with insufficient experience (few ICICI employees were above 30 years, while few came with 2.5 years of experience) they'll have 500 candidates out of which they'll call 150 (120 plus 30 at least as the waiting list).
Comments awaited.
u hav made the write calculation i belive....but any idea as why hav they declared the result for only 81 people..... will wait for ur comms/suggestions thanks
Talked with one of the person in HR-Mumbai office.
He told that the persons who are shortlisted will definitely receive the mail. No need to worry. They will try to send the mail by today evening or tomorrow morning.
So cheer-up guys.......... :-)
hey did anyone has any idea why they hav declared the list for 81 people and others not in the list shud wait for the next phase of result.......
I too suffer from the similar problem,I have already put down my papers..My company ahs a 2 mnths notice..and I am falling a week short,I mailed them but there is no reply...
I asked my Boss for some concession lets see what happens...
Guess everybody here has mailed ICICI .. same here as well .. lets see as who hes the response !! But I joining for sure ! so count me in as welll guyz!
@ rahul, have u been able to decide on meeting the HR in person ? any response from other puys in mumbai ??
Guys, I have put papers, but in case I do not get clear replies of all the queries, i will surely not join the program & will take back my resignation....coz surely i would not want to play pranks with my career....
Hey Puys,
I have also gone thru the terms and conditions but will write in detail to the ICICI guys (this weekend). Please update us all if somebody has already written and got any reply before we put down the papers. the clause that we cannot pay loan before 60 months and after completing the 3 years bond can we pay at the same interest is also not clear. if the interest is 24% (in case of discontinuation of services after 3 years of bond) if i understand it correctly then ACTUALLY the bond is for 5 years and not 3 years....
Sidd,
Oflate i spoke to one of the HR representative(on one of the number which was shared earlier). He could confirm me only one point that the actual loan payment would be for 60 months starting from the day of employment i.e once course is completed. For the calculation part as in how these 15% and 24% stuff are gonna be, he said he would ask someone and they inturn would call me up to explain everything. Lets c if i get any call. I will post accordingly.
As far as the calculation part is concerned I guess it would be something like as stated underneath:
Case 1: if u stay with ICICI for 60 months:
you will pay 4.5 Lacs INR with 2.5 % interest per annum
Case 2: If you leave ICICI after 36 months.
By this time you would have already paid SOME(X) amount of 4.5 Lacs with 2.5 % per annum interest. There would again be a newly calculated amount at 15% per annum for a period of 3 years and that SOME(X) amount would be adujsted against this new amount and you will have to pay the differentiating amount. In addition to this the remaining amount of 4.5 lacs would be paid with rate of interest of 24 % for next 2 years i.e 24 months.
I am just guessing...this might be completely wrong or ICICI's thought process might be different.
Cheers,
PD