Bank Manager Salary in India – Salary Structure of Public and Private Bank 2018

Bank Manager Salary in India IN SBI , IBPS and RRB and NABARD. Check all the details from here.

Salaries in Bank has so many differences in the different banks. So we won’t be giving the information in that way you were imagining.

In the next part, we are going to reveal all the details of the salary  that is given at the standard of PO and clerk and other bank exams. So after reading this you can decide which one you should focus for your exams.

Latest Salary Structure of Public and Private banks

Before we go through all the salaries details of the banks, we will let you know all the terms used in the salary given to the bank employees.

• Basic Pay :- It is a very important term in your salary. This amount is that money which is paid to an employee by the organization when no allowance is given or added. It is the biggest part of the salary. It is taxable under section 17 of Income Tax Act.  FPF and HRA are linked to basic salary.
• Allowances :- The amount is for the additional expenses included. This is given as a percent of basic salary. The allowances given to Bank Employees are

Allowances Given to a Bank Manager 2018

(a) Dearness Allowance (DA) :- This is called a cost of living paid to the Government and Public sector employees in PSU. Bank revise this on very three months i.e. quarterly basis. It is based on the consumer Price Index and varies on the inflation of the quarter. This means higher inflation means more DA and vice versa.

(b) House Rent Allowance (HRA) : Employees of bank are given the House rent Allowance to spend money for the rental expenses for his accommodation. This allowance is exempted from the Income tax according to the Income Tax Act, Section 10 (13A) and Rule 2A of the Income tax rules,
The exemption is the least of following:

• Actual house rent allowance received from the employer.
• Actual house rent paid minus (10% of the basic salary + DA) .
• If living in a metro(Delhi, Mumbai, Kolkata or Chennai), than 50% of basic salary
• Else it is 40% of the basic salary

As you must have figured out , HRA depends on the place of posting.

(c) Special Allowance : This allowance is also called as performance allowance. This is given over the basic salary.

(d) CCA : Compensatory City Allowance is it’s full form. This is applicable if you are living in a expensive city.

(e) Conveyance allowance : This is given for the conveyance between home and office.

After knowing all the terms of Bank Salary, now we wil talk about the salary of Bank employee.

Bank Manager Salary in IBPS PO

IBPS PO is the biggest banking exam in our country. More than 10 lakh students appear in the exam to get the job of Probationary Officer /Management Trainee in various Nationalized Banks/ Other banks and Financial Institutions. A freshly recruited PO is paid according to the SCALE I salary.

1. Basic Pay: The basic pay of PO is around 23,700 INR as per given after June 1, 2015. It does not matter you are posted in which city.
2. Dearness Allowance (DA): The DA amounts to 8065.88 INR as per the latest CPI released by government.
3. HRA: According to the city posting, it varies from 9.0% or 8.0% or 7.0%.
4. CCA: This varies to 4%, 3% or 0% depending on the place of posting.
5. Special Allowance: For scale I it is paid @ rate of  7.75%
6. Perquisites (Conveyance, Newspapers, Entertainment allowance, House & Furniture Maintenance etc. 4,130)
7. Leased accommodation upto Rs 29500, this is provided in lieu of HRA.

SBI PO Bank Manager Salary

SBI PO :This exam is conducted for the recruitment of PO / Management Trainee for the SBI. The salary details are given as.

• Basic Pay: The basic pay is Rs. 23700 applicable from june 2015. It does not matter of any city in which you are posted.
• Dearness Allowance (DA):  The DA goes to Rs. 8605.88. It is released as per the CPI
• CCA :- This is given as 4% , 3% or 0% as per the place of hosting.
• Special Allowance: 7.75% is given to the scale I
  
• SBI also provides four additional increments in the Probationary Officer at the time of joining. This provides 6000 rupees more for a PO in SBI as compared to the other nationalized banks.
• Perquisites (Conveyance, Newspapers, Entertainment allowance, House & Furniture Maintenance etc. 4,130)
• Leased accommodation upto Rs 29500, in lieu of HRA.

IBPS Clerk/ SBI Clerk

SBI and IBPS Clerk exams are conducted for the various posts like Assistants and Stenographers for SBI and other nationalized bank and Non Banking Financial Institutes. The salary is structured in the following way:

• Basic Pay: The basic pay for clerk is same irrespective of the city of appointment. It is INR 11765 w.e.f. from June 1 2015.
• Dearness Allowance (DA): As per the latest CPI released by the gov. the DA is INR 4272.08.
• HRA: This is paid @ 10% or 9% or 7.5%  depending on the place of posting.
• CCA: This is paid @ 4%, 3% or 0% depending on the place of posting.
• Special Allowance: The amount of special allowance is INR 911.79.
• Transport Allowance: It is paid for conveyance amounting to INR 425.00.

IBPS RRBs

In this exam students are competing for the post of Officer in Junior Management (Scale I) Cadre and Office Assistant (Multipurpose) and Officers in Middle Management Grade (Scale III), Officer in Middle Management Grade (Scale II),

Post	Scale of Pay
Office Scale III	42020-1310(5)-48570-1460(2)-51490.
Officer Scale II	31705-1145(1)-32850-1310(10)-45950.
Officer Scale I	23700-980(7)-30560-1145(2)-32850-1310(7)-42020.
Office Assistant(MP)	11765-655(3)-13730-815(3)-16175-980(4)-20095-1145(7)-28110-2120(1)-30230-1310(1)-31540.

Emoluments

Post	DA and HRA at current date (Approximate Emoluments per Month)
Office Scale III	The initial salary is approx is 646,00 per month. (DA and HRA are included).
Officer Scale II	Starting salary is about 48,800 per month inclusive of DA and HRA at the current rate.
Officer Scale I	The starting salary is 36,400 per month inclusive of DA and HRA at the current rate.
Office Assistant(MP)	The starting emoluments is approximately 18,100 per month (DA and HRA included).

 

RBI GRADE B

In this exam, the students are recruited for the Officers in Reserve Bank of India.

• Basic Pay: Basic Pay of RBI Grade B is INR 21,000
• Emoluments: The salary is given after adding house rent allowance, family allowance and grade allowance initial monthly gross emoluments and dearness allowance, local allowance, which sums to Rs 53,888.

NABARD officer exam

The various posts in National Bank for Agriculture and Rural Development are given here.

Group-A

Sr.No.	Cadres	Scale `
i)	Officers in Grade ‘A’ (Asstt. Manager) (including the Private Secretary in Grade ‘A’)	17100-1000(11)-28110-EB-1000(4)-32100-1100(1)-33200(17years)
ii)	Officers in Grade ‘B’ (Manager)	21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400(16 years)
iii)	Officers in Grade ‘C’ (Asstt.Gen.Manager)	28350-1000(5)-33350-1150(4)-37950- EB-1150(3)-41400(13 years)
iv)	Officers in Grade ‘D’ (Dy. Gen.Manager)	39850-1200(2)-42250-1300(3)-46150(6years)
v)	Officers in Grade ‘E’ (General Manager)	42300-1300(3)-46200-1400(3)-50400-1600(1)-52000(8 years)
vi)	Officers in Grade ‘F’ (Chief General Manager)	60600-1600(4)-67000(5years)
vii)	Executive Directors	75100(1)-2000(2)-79100(3years)
viii)	Sr Private Secretary and Principal Private Secretary	21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400-EB-400(1)-36800-1150(4)-41400(21years)

 

Group B

Scale INR 8040-410(3)-9270-500(4)-11270-550(4)-13470-650(3)-15420-720(1)-16140- 990(4)-20100(20 years)

Group C

Scale INR 6350-220(4)-7230-260(3)-8010-300(3)-8910-400(2)-9710-500(4)-11710-680(3)-13750(20 years)

Hope this information is helpful for all the students who are searching for the Bank Manager and PO salary in the various banks. So if you want to get the jobs, then you will be able to help through this.