Salary of Bank po

Newly appointed bank po salary in PSU banks are approx Rs. 28,000. Salary in banks decided by all banks management body Indian Banks Association (IBA) and all banks employees umbrella organistion United Forum of Bank Unions (UFBU). T



The salary in all PSU Banks/ Nationalised banks are same, but facilities may differs like medical, Leased House Rent, Travelling Expenses and other allowances. The SBI providing two increments at joining time. The sample indicative salary of nationalized bank is given below as per present norms:


Bank PO Salary At Joining Time

Salary
Major A class cities :
Metro Cities
Other places in Area I(State Capitals etc)
Other places
(District level and Rural Places)
Basic Salary
Rs.14500.00
Rs.14500.00
Rs.14500.00
Dearness Allowance (84.15%)
Rs.12201.75
Rs.12201.75
Rs.12201.75
CCA(4% max Rs.540=)
Rs. 540.00
Rs.375.00
nil
HRA (Major A class cities - 8.5%, Other places in Area I -7.5%, Other places - 6.5%)
Rs.1232.50
Rs.1087.50
Rs.942.50
Total
Rs.28,474.25
Rs. 28,164.25
Rs.27,644.25

Salary Components: Basic Salary, Dearness Allowance (DA), House Rent Allowance (HRA), City Compensatory Allowance (CCA). HRA is not available for those officers who are residing in banks accommodation or subsidized accommodation. If you an officer have own house and not availing banks accommodation then 15 % HRA will be provided.

 

 

Perks And Facilities Components Of Bank PO:

Banks Leased Housing Accommodation, Travelling Allowance, News Paper, Cleaning Materials, Business Development Expenses, Medical Aids etc.
Above mentioned facilities are based on a single bank and varies from others. But all most banks are providing same. The Salary is mandatory as per settlements but perk and facilities can be enhanced by particular bank. Like some banks are providing unlimited self medical expenses up to ceiling of 90% of expense, for furniture Rs. 70,000 on every ten years, lunch allowance etc.
PSU banks salary followed by job guarantee and life time pension facility, where private banks paying more but there are 25 % employee retrenchment every year and no one is reaching at pension provision.
SCALES of Bank PO
JMGS-I - Rs.14, 500/-    TO Rs.31, 500/-@
MMGS-II - Rs.19, 400/-  TO Rs.34, 200/-@
MMGS-III - Rs.25, 700/- TO Rs.35, 100/-@
@including two additional stagnation increments
SMGS-IV - Rs.30, 600/- TO Rs.36, 200/-
SMGS-V - Rs.36, 200/-  TO Rs.40, 400/-
TEG-VI - Rs.42,000/-  TO Rs.46,800/-
TEG-VII - Rs.46,800/- TO Rs.52,000/-
DEARNESS ALLOWANCE
For every 4 points rise/fall in index, Dearness Allowance at 0.15% per slab.
CITY COMPENSATARY ALLOWANCE
CCA rates are as under:
Places in Area I - 4% of Basic Pay, Max. Rs.540/-p.m.
Places with population of more than 5 lacs - 3% of Basic Pay,
Max.   Rs.375/-p.m.
HOUSE RENT ALLOWANCE
We have retained the existing rate of HRA as under:
           Major A class cities -       8.5%
           Other places in Area I -   7.5%
           Other places -                 6.5%
MEDICAL AID –
For officers other than SBI, the medical aid has been enhanced as; 
Scale I to III –             Rs. 5100/- p.a.
Scale IV & above -      Rs. 6320/- p.a.

Bank PO Perks And Facilities At Joining Time (As On 01.09.2013)


Bank PO Perk and Facilities at Joining Time
Salary
Major A class cities :
Metro Cities
Other places in Cat A Centers(State Capitals etc)
Other places
Category B Centers
Other places
Category C Centers
Leased House Rent
Rs.7,200.00
Rs.5,300.00
Rs.3,800.00
Rs.2,800.00
Travelling Allowance
Rs.3,000.00
Rs.3,000.00
Rs.2,700.00
Rs.2,300.00
News Paper
Rs. 250.00
Rs. 250.00
Rs. 250.00
Rs. 250.00
Cleaning Materials
Rs.600.00
Rs.600.00
Rs.600.00
Rs.600.00
Business Development Expenses
Rs.300.00
Rs.300.00
Rs.300.00
Rs.300.00
Medical Aid
Rs.450.00
Rs.450.00
  

What is the Salary of SBI PO?





Salary Structure of State Bank of India Probationary Officer -PO 

Here, we have been sharing cost to company-CTC salary structure of SBI PO. Among all Public Sector Banks, SBI has been paying highest salary to the joining Probationary officer: 

The starting basic pay is Rs 16,900/- (with 4 increment) Pay scale of Rs 14500-600/7-18700-700/ 2-20100-800/7-25700 

The compensation per annum at Mumbai is Rs.8,00,000/- plus. The break-up of monthly compensation is as under: 


Cash Component
Rs. 30, 370/-
Bank’s contribution to PF & Pension Scheme
 Rs. 4,673/-
Housing (Lease Rental)
Rs. 29,500/-
Perquisites (Conveyance, Newspapers, Entertainment
allowance, House & Furniture Maintenance etc.
 Rs. 4,130/-
   

In addition, the Officers are also entitled to other benefits like:

(i) Medical Aid for self (100%) and for family (75%)
(ii) Home Travel Concession/Leave Fare Concession
(iii) Concessional Interest Rates for Housing/Car/Personal Loans

Note:The salary scales are under revision with effect from November 2012. It means, bank will pay higher salary than the present above mentioned salary. Bankers have been waiting the salary revision and hope it would be approved by next year. The pending hike in salary will be paid as arrears since Nov. 2012.


 IBPS stands for the Institute of Banking Personnel Selection which conducts a Common Written Exam (CWE) to recruit Bank POs.

Bank Type: Nationalized Banks

Bank Name: Bank CWE (IBPS)

Bank Exam: Bank CWE (IBPS)

The Institute of Banking Personnel Selection conducts a Common Written Exam (CWE) to recruit Bank POs.

Job Profile: Probationary Officer / Management Trainee

EXAM SYLLABUS

1. ENGLISH LANGUAGE (25 marks, 50 questions)

Vocabulary: Synonyms, Antonyms, Homonyms, Word Formation, Sentence Completion

Comprehension: Theme detection, Deriving Conclusion, Passage Completion

Error Detection and Rearrangement: Passage Correction, Sentence Correction, Spelling

Grammar: Active Passive Voice, Direct Indirect Speech

General Usage: Idioms and Phrases

2. LOGICAL REASONING (50 marks, 50 questions)

Verbal Reasoning: Analogy, Coding Decoding, Blood Relation, Sitting Arrangement, Series Completion, Syllogism, Decision Making, Statement Reasoning

Non-verbal Reasoning: Series Completion, Analogy, and Classification

3. QUANTITATIVE APTITUDE (50 marks, 50 questions)

Arithmetic: Numbers, Simplification, Roots, Average, Surds & Indices, Percentage, Profit & Loss, Ratio & Proportion, Partnership, Chain Rule, Time & Work, Pipes & Cisterns, Time & Distance, Problems on Trains, Boats & Streams, Alligation, Simple Interest, Compound Interest, Stocks & Shares, Clocks, Logarithms, Mensuration, Volume & Surface Area, Permutation & combination, Probability, Heights & Distances

Data Interpretation: Tabulation, Bar Graphs, Line Graphs, Pie Charts

4. GENERAL/MARKETING/BANKING AWARENESS (50 marks, 50 questions)

Questions in this component will be aimed at testing the candidate’s general awareness of the environments around him and its application to society. These questions will be such that they do not require a specific study of any discipline.

- Knowledge of current events

- Everyday observations and experience in the scientific aspect as may be expected of any educated person

- India and its neighboring countries

- Sports, History, Culture, Geography, Economy, General Polity, Indian Constitution, Scientific Research

Over 70% of the questions will be related to Economy, Banking and Finance.

5. COMPUTER AWARENESS (50 marks, 50 questions)

General Knowledge on Computer usage and application (basic hardware and software)

6. DESCRIPTIVE WRITING (25 marks)

It intends to measure your higher order cognitive abilities as comprehending the situations etc, and also your language ability. It is a question paper-cum-answer sheet in Hindi and English and the Regional Language and you have to restrict your answers to the space provided on the answer-sheet. Use of supplements is not allowed. You have the option to answer 3 out of 4 questions either in Hindi or in English or in the Regional Language. It includes Essay, Précis and Letter writing.