Bank PO salary in India (as on 2011)..

Starting Salary of Bank Probationary Officer (PO) in PSU banks are approx Rs. 25,000. 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). The present salary is based on 9^th Bipartite Settlement which was signed on 27.04.2010.


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 (54%)	Rs.7830.00	Rs.7830.00	Rs.7830.00
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.24,102.50	Rs. 23,792.50	Rs.23,272.50

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.

Bank PO Perks and Facilities at Joining Time (as on 01.9.2011)

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	Rs.450.00	Rs.450.00
Total	Rs.11,800.00	Rs. 9,900.00	Rs.9,400.00	Rs.6,700.00

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.

LIST OF BANKS TO BIPARTITE SETTLEMENT

1. Allahabad Bank

2. Andhra Bank

3. Bank of Baroda

4. Bank of India

5. Bank of Maharashtra

6. Canara Bank

7. Central Bank of India

8. Corporation Bank

9. Dena Bank

10. Indian Bank

11. Indian Overseas Bank

12. Oriental Bank of Commerce

13. Punjab & Sind Bank

14. Punjab National Bank

15. Syndicate Bank

16. UCO Bank

17. Union Bank of India

18. United Bank of India

19. Vijaya Bank

20. State Bank of India

21. State Bank of Bikaner & Jaipur

22. State Bank of Hyderabad

23. State Bank of Indore

24. State Bank of Mysore

25. State Bank of Patiala

26. State Bank of Travancore

27. Bank of Rajasthan Ltd.

28. The Catholic Syrian Bank Ltd.

29. The Dhanalakshmi Bank Ltd.

30. The Federal Bank Ltd.

31. ING Vysya Bank Ltd

32. The Jammu & Kashmir Bank Ltd.

33. The Karnataka Bank Ltd.

34. The Karur Vysya Bank Ltd.

35. The Lakshmi Vilas Bank Ltd.

36. The Nainital Bank Ltd.

37. The Ratnakar Bank Ltd.

38. The South Indian Bank Ltd.

39. The Royal Bank of Scotland N.V.

40. Bank of America N.A.

41. The Bank of Tokyo-Mitsubishi UFJ, Ltd.

42. BNP Paribas

43. Citibank, N.A.

44. The Hongkong & Shanghai Banking Corporation Ltd.

45. Sonali Bank

46. Standard Chartered Bank