We report on a combined experimental and theoretical study on CrI3 single crystals by employing the polarization dependence of resonant inelastic X-ray scattering (RIXS). Our investigations reveal multiple Cr 3d orbital splitting (dd excitations) as well as magnetic dichroism (MD) in the RIXS spectra which is evidence of spin-flip in the dd excitation. Interestingly, the dd excitation energies are similar on both sides of the ferromagnetic transition temperature, TC ∼ 61 K, although MD in RIXS is predominant at 0.4 tesla magnetic field below TC . This demonstrates that the ferromagnetic superexchange interaction that is responsible for the intra-atomic exchange field, is vanishingly small compared to local exchange field that comes from exchange and correlation interaction among the interacting Cr 3d orbitals. The investigation presented here demonstrate that the electronic structure of bulk CrI3 is complex in the sense that dynamical electron correlations are significant. The recorded RIXS spectra reported here reveal clearly resolved Cr 3d intra-orbital dd excitations that represent transitions between electronic levels that are heavily influenced by multi-configuration effects. Our calculations employing the crystal field TTmultiplet theory taking into account the Cr 3d hybridization with the ligand valence states and the full multiplet structure due to intra-atomic and crystal field interactions in O h and D 3d symmetry, clearly reproduced the dichroic trend in experimental RIXS spectra.