Introduction

This article presents you the various aspects of the Bank Probationary Officer Roles and Responsibilities while working with the Banks like SBI, RBI, RRB and IBPS Group. It is highly necessary to understand the Job Description and Job Details before applying for the Bank PO of Clerical jobs. Here in this section we provide you the detailed salary structure, job description, roles and responsibilities and full details about Bank PO jobs in various Banks.

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What you will understand

This article will provide with :

• Roles & Responsibilities Of Bank PO
• Job Description of a Bank PO
• Career as a Bank PO
• Selection Processs & Exam Pattern of a Bank PO

Job Details-Bank PO-Roles, Responsibilities & Salary Structures

Salary Structure of a Bank Probationary Officer (Bank-PO)




Typical Salary Structure of a Bank PO - Entry Level
( Indicative/NOT Actual / Visit Bank official website for more info : http://www.ibps.in and http://www.sbi.co.in )

Particulars	Monthly	Annually
Basic	14500	174000
DA	8722	104661
HRA*	0	0
CCA	540	6480
Medical Aid		5100
Entertainment		4600
House Maintenance	300	3600
Books/Newspapers		2800
Petrol	2000	24000
Canteen Subsidy	250	3000
Pension	-2322	-27866
Rent Deduction	-300	-3600
Taxable Salary	23690	300375
Less Tax	771	9251
In Hand Salary	22919	291124.02
House Lease#	8000	96000
Bank's Pension share	2322	27866
CTC	452107	4.5 Lac per Anum

(*HRA is not taken into consideration because of lease accommodation; #House Lease ranges from 4 to 12 percent of basic depending upon rural/semi urban/Area 1/Metros)

The Bank PO's salary or Bank Probationary officer's starting salary in most of public sector banks and even in some private banks is same. All newly recruited POs are placed in the following scale at the 1st stage of the same. (However, banks like SBI, ICICI bank and other private sector banks have some different start for probationary officers ) :-

Scale I - Rs. 14500 - (600x7) 18700 - (700x2) - 20100 (800x7) - 25700 [Revision has already become due wef 01/11/2012, but it is likely to take about 2 years to finalize the same i.e. by Dec 2014]

In addition to Basic Pay Probationary officers / PO / Management Trainees are eligible for the following allowances :-

(a) Dearness Allowance (DA) : DA in banks is revised on quarterly basis (i.e. in the months of February, May, August and November) based on the CPI as declared by Government of India.

The current DA (for the month of February 2014, March 2014 and April 2014 is 99.90% of the Basic Pay). DA can go up with higher inflation and also come down if the inflation rate is in negative.

(b) HRA : This depends on the place of posting and it can be either 6.5% or 7.5% or 8.5% depending on the place of posting.

(c) CCA : This also depends on the place of posting and can be either 4% (maximum Rs.540/-) or 3%(Maximum Rs.375/-) or 0%

The above indicates that the total salary of a probationary officer on joining at a metro station will be around Rs.30,759. However, the total salary of a probationary officer who has to join in rural area will be about Rs 29,929/- . {This includes HRA}. However, SBI gives four additional increments to Bank POs and thus gross salary will be higher by about Rs 4500/-.pm

See details below :- ( Indicative Table – Not Actual )

NEWLY APPOINTED BANK PO - INITIAL SALARY / STARTING PAY ON JOINING [as on 1st April, 2014 ] - PRE REVISED Monthly Basis ( Indicative )
	Major A-Class Cities	Other Cities	Rural Areas
Basic Pay	Rs.14,500.00/-	Rs.14,500.oo/-	Rs.14,500.00/-
Dearness Allowance @ 99.90%	Rs.14486.00/-	Rs.14486.00/-	Rs.14486.00/-
CCA (3% TO 4% Max Rs. 540.00/-	Rs.540.00/-	Rs.375.00/-	Rs.0.00/-
Total Salary ( Excluding HRA )	Rs.29,526.00/-	Rs.29,361.00/-	Rs.28986.00/-
HRA – 8.5%/7.5%/6.5%	Rs.1233.00/-	Rs.1088.00/-	Rs.943.00/-
Total Salary ( Including HRA)	Rs.30,759.00/-	Rs.30,449.00/-	Rs.299,29.00/-

Note : ( This information should not be taken as any official statement. For official information about the exact salary and allowance structure kindly visit bank official websites : http://www.ibps.in and http://www.sbi.co.in )

(a) SBI POs are paid four increments extra at the initial stage and thus their Gross Salary will be about Rs 4,800 higher

(b) In lieu of HRA, most of the banks allow you to take leased accommodation, the amount of which varies from bank to bank and also depends on place of posting (The entitlement of such accommodation ranges from Rs 8000 to Rs 29,000 p.m (approximate).

(c) Thus, we can say the salary cash component of Bank PO in Public Sector banks is around Rs 31,000 pm whereas in SBI, the initial cash component salary of SBI PO is around Rs35000/-pm

Other Perks & Allowances :

There are number of other perks available to Bank officers and these vary from bank to bank, and even the amount of such perks vary from bank to bank. SBI gives more perks than all other nationalized banks. Some of the perks available to Bank officers are :-

(a) Leased Accommodation : As mentioned above this facility is available to Bank officers in lieu of HRA. At some stations, some banks may offer official bank accommodation in lieu of leased accommodation / bank quarters. The lease amount vary from bank to bank and place of postings. However, you should remember that this amount is not available as cash component and will directly go to the house owner - those house you have got leased.

(b)Travelling Allowance : Some banks allow fixed Travelling Allowance whereas others allow reimbursement of petrol bills i.e. officer must own scooter / car at the place of posting

(c) Newspaper Reimbursement : A fixed monthly amount is paid towards the cost of one newspaper

(d) Medical Aid : A fixed annual amount is paid by most of the banks

(e) Coverage under New Pension Scheme

Salary of PO in State Bank of India / PO Salary in SBI :

· In SBI, the starting basic pay is Rs 16,900/- (with 4 increments) in the scale of Rs 14500-600/7-18700-700/ 2-20100-800/7-25700 applicable to Junior Management Grade Scale I.

· The official will also be eligible for D.A., H.R.A & C.C.A as per rules in force from time to time.

· At present monthly compensation at Mumbai will be approximately Rs 69,000/- inclusive of lease rental.

· The officers are required to make 10% of their basic pay as contribution to Provident Fund and the Bank also makes matching contribution to the Employees Provident Fund.

· The new entrants will be governed by the Defined Contribution Pension Scheme/New Pension Scheme, where each employee is required to contribute 10% of Basic Pay and D.A. towards pension scheme and Bank also makes matching contribution.

PERQUISITES for SBI PO :

(1) Leased accommodation ranging from Rs 8,000/- in ‘C’ category Centres to Rs 29,500/- in Mumbai Centre.

(2) Medical Aid for self (100%) and for family (75%).

(3) Home Travel Concession/ Leave Fare Concession.

(4) Concessional interest rates for Housing/Car/Personal Loans

NOTE : The applicants should not get confused by the amount of Salary shown by SBI as Rs 70, 000/- pm as it includes the prerequisite of Leased Accommodation to the extent of Rs 29000 in Mumbai. This is not cash component but a facility to get a house in Mumbai if you are posted there. Basically, the salary difference between SBI and other PS Banks is that of 4 increments i.e. Starting Basic Pay will be Rs 16900/- in SBI, whereas in other PS Banks it is Rs.145000/-. (Rs.2400/- more as basic in SBI). The difference becomes bigger as DA is payable on this basic pay. This also works out to be about Rs2400/-. Thus, starting salary in SBI is about Rs 4800/- more than other PS Banks.

The above article is a simple informative to understand a banks salary structure for a probationary officer or clerk. For exact details the candidate can contact directly to the bank through the official websites : http://www.ibps.in and http://www.sbi.co.in .

Thanks and all the best (Y)

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