Salary Structure on Recruitment of Employees in Public Sector Banks (with updated dearness allowance which revises every quarterly)
Public Sector banks in India are facing a huge shortage of employees due to two main reasons:
- Large Number of Retirement of Employees start from years 2012
- Expansion of Business (Eg. Opening of New Bank Branches)
Apart from the above mentioned reasons, the banks have been ordered by Ministry of Finance, Government of India to open branches in the under banked areas.
Role of IBPS in Recruitment of Employees for Public Sector Banks
IBPS had introduced the concept of Common Written Exams (CWE) for Selection of Clerks, Probationary Officers and Specialist Officers. The Successful candidates in the CWE are issued scorecards based on their performance in the IBPS exam. The scorecard is mandatory to apply for Jobs in Public Sector banks.
Salary Structure on recruitment as
Pay scale : 23700 - 980/7 - 30560 - 1145/2 - 32850 - 1310/7 42020
A newly (fresh) recruited Probationary Officer's initial basic pay is Rs. 14500/ and your first salary will be
(23700/-(basic pay) + prevailing Dearness allowance (revises quarterly) + House Rent Allowance (applicable as per area of place of posting) + City Compensatory Allowance
(applicable as per area of place of posting). Please see the table hereunder for Gross Salary on Appointment