POs are expected to be multi-talented,having ample of potential
and a great zeal to work faster and perform better than others.
1. Multitasking job–
Probationary Officer is a multi-tasking job, as they are assigned for different
banking activities. This helps them to get aware of various procedures of the
bank operations.
2. Customer services–.
Probationary Officers generally
handle customers of the bank. They have to guide and assist customers of
various banking facilities and products available, issue cheque books, DDs etc.
Customer complaints are also addressed by POs like account discrepancies,
rectification of charges etc.
3. Practical knowledge–
POs are practically trained in various fields, like – Marketing, Accounting,
Loans & Advances as well as Finance.
4. Supervision of Clerical work–
All the clerical work such as managing cash, opening account and customer
dealing is done under the supervision of POs. In case of cash transactions, PO
is responsible to check whether Clerk entered everything correctly or not and
authorise the transactions.
5. Loan Processing–One
of the major functions of the bank i.e. providing loan to the needful is also
taken care of by a PO. Before granting the loan to the customer, all the
documentation is to be done under his/her supervision.
Basic Salary of Probationary
Officer
A Bank Probationary officer’sstarting salary in most of
public sector banks and even in some private banks is same. The latest
revision of salary of Bank PO has taken place wef from 1st November, 2012 (The
final agreement has been signed only on 25th May, 2015) All newly recruited POs
are placed in the following scale at the 1st stage of the same.The
revised salary as on 1st June 2015 will be as per Scale I given below:.
(The figures in the brackets indicate the annual increment and
the number of stages for which the same is applicable)
Thus, the revisedinitial Basic Payof a Bank PO will
be Rs.23, 700/- as from 1st June 2015 onwards.
Major allowances payable monthly
to Bank POs
In addition to Basic Pay Pos are eligible for the following
allowances:-
1. 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 Consumer Price Index (CPI) as declared by
Government of India.The new revised current DA(for the month
ofMay 2015, June 2015 and July 2015 is33.70% of the
Basic Pay). DA can go up with higher inflation andalso come
down if the inflation rate is in negative.
2. Special Allowance:This
has been added in 10th BPS (wef 01/11/2012) and forscale I is 7.75% on
which DA is also payable.
3. HRA (House Rent Allowance):This
depends on the place of posting and it can be either 9.0% or 8.0% or
7.0%depending on the place of posting.
4. CCA (City Compensatory
Allowance):This also depends on the place of
posting and can be either 4% (maximum Rs.870/-) or 3 %( Maximum Rs.600/-)
or 0%.
Gross
Salary
The above statistics indicates that the total salary of a
probationary officer on joining at a metro station will be around
Rs.37145/-. However, the total salary of a probationary officer who
has to join in rural area will be about Rs 35800/ (This includes HRA
also).However,SBI gives four additional increments to Bank POs and
thus gross salary will be higher by about Rs 5000/-.pm.
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 10000 to
Rs 29,000 p.m (approximate). Thus, we can say the salary cash component of Bank
PO in Public Sector banks is around Rs 37100 pm whereas in SBI, the initial
cash component salary of SBI PO is around 43000 /-pm (including HRA).
