Introduction
There are various designations available into banks for which online or written exams are conducted for recruitment by various bank institutions or groups.
Some subject posts are communication manager, administrative officer, office assistant, probationary officer, officer, management trainee, clerk, private secretary, general banking officer, an accountant.
IBPS Exams for Clerk or PO, SBI for PO, RBI for a specialist officer or other, RRB are some common exams which are conducted every year time to time and this articles provides the perks and career progression of different banking sector designations below.
Career
Career Progression Chart of PO in IBPS and SBI
| MANAGEMENT GRADES | DESIGNATION | MONTHLY SALARY STRUCTURE |
|---|---|---|
| Junior management grade-Scale-1 | Probationary Officer/Assistant Manager | 23700-980-30560-1145-32850-1310-42020 |
| Middle management grade-Scale-2 | Manager | 31705-1145-32850-1310-45950 |
| Middle management grade-Scale-3 | Senior Manager | 42020-1310-48570-1460-51490 |
| Senior management grade-Scale-4 | Chief Manager | 50030-1460-55850-1650-59170 |
| Senior management grade-Scale-5 | Assistant General Manager | 59170-1650-62470-1800-66070 |
| Top management grade-Scale-6 | Deputy General Manager | 68680-1960-76520 |
| Top management grade-Scale-7 | General Manager | 76520-2120-85000 |
Note: As per the above table, the candidate can be grown up to the post of managing director within 20 years earning approx. 2+ lac per month.
Salary
| IBPS | SBI | |
|---|---|---|
| BASIC PAY | INR 23700 | INR 23700(4 extra increments also applicable) |
| DEARNESS ALLOWANCES | INR 8605.88 | INR 8605.88 |
| HRA | 7.0%-9.0% depending at posting location | 7.0%-9.0% depending at posting location |
| CCA | 0% to 4% depending at posting location | 50030-1460-55850-1650-591700% to 4% depending at posting location |
| SPECIAL ALLOWANCE | 7.75% for scale-1 | 7.75% for scale-1 |
| PREREQUISITES | 4130 | 4130 |
| LEASED ACCOMMODATION | 29500 in lieu of HRA | 29500 in lieu of HRA |
IBPS RRB Officer + Assistant Salary 2020
Emoluments:
| 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 |
| Post | Approximate Emoluments per Month inclusive DA and HRA at Current Rate |
|---|---|
| Office Scale III | At present, the total starting emoluments are approximate `64600/- per month inclusive of DA and HRA at the current rate. |
| Officer Scale-II | At present, the total starting emoluments are approximate `48800/- per month inclusive of DA and HRA at the current rate. |
| Officer Scale I | At present, the total starting emoluments are approximate `36400/- per month inclusive of DA and HRA at the current rate. |
| Office Assistant(MP) | At present, the total starting emoluments are approximate `18100/- per month inclusive of DA and HRA at the current rate. |
Basic Pay- INR 21000
Emoluments-Including dearness allowance, local allowance, house rent allowance, family allowance and grade allowance initial monthly gross emoluments are approximately Rs 53,888.
IBPS Clerk Salary
| Basic Pay | INR 11765 |
| DA | INR 4272.08 |
| HRA | 10% or 9% or 7.5% |
| CCA | 4% or 3% or 0% |
| Special Allowance | 911.79 |
| Transport Allowance | 425.00 |
| Assets | Metro Cities | (State Capital etc.) | (District Level and Rural Areas) |
|---|---|---|---|
| Basic Pay | Rs.14500/- | Rs.14500/- | Rs.14500/- |
| Dearness Allowance | Rs.14485.5/- | Rs.14485.5/- | Rs.14485.5/- |
| CCA (3% to 4% Max. Rs540/-) | Rs.540/- | Rs.375/- | - |
| Total Salary (Excluding HRA) | Rs.29525.5/- | Rs.29360.5/- | Rs.28985.5/- |
| HRA – 8.5% ; 7.5%; 6.5%* | Rs.1232.50/- | Rs.1087.50/- | Rs.942.50/- |
| Total Salary (including HRA | Rs.30758/- | Rs.30448/- | Rs.29927.5 |
National Bank for Agriculture and Rural Development organizes this exam for various posts :
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 that we are able to shrink your eagerness to know about your job salary. Now its all your decision for which post you want to direct your studies and which salary suits you the
| Cadres | Scale |
|---|---|
| Officers in Grade ‘A’ (Assistant Manager) (including the Private Secretary in Grade ‘A’) | 17100-1000(11)-28110-EB-1000(4)-32100-1100(1)-33200(17years) |
| Officers in Grade ‘B’ (Manager) | 21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400(16 years) |
| Officers in Grade ‘C’ (Assistant General Manager) | 28350-1000(5)-33350-1150(4)-37950- EB-1150(3)-41400(13 years) |
| Officers in Grade ‘D’ (Dy. General Manager) | 39850-1200(2)-42250-1300(3)-46150(6years) |
| Officers in Grade ‘E’ (General Manager) | 42300-1300(3)-46200-1400(3)-50400-1600(1)-52000(8 years) |
| Officers in Grade ‘F’ (Chief General Manager) | 60600-1600(4)-67000(5years) |
| Executive Directors | 75100(1)-2000(2)-79100(3years) |
| 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) |
Selection
The selection process in banking primarily walks through 3 stages : ELIGIBILITY CRITERIA, WRITTEN TEST/OBJECTIVE TEST and finally the INTERVIEW. Once the candidate is able to pass these three stages, then he/she will be the man of the competition.
Eligibility-
The candidates must be graduated with 60% aggregate(min) from a well-recognized university. The age must be 18 minimum and maximum can be 26 to 30 (depend upon which exam you are giving).
Written Test/Objective Test-
The bank exams are divided into 2 phases i.e. Prelims and Mains. The pre-exam is formed with only 3 subjects (English, Reasoning, and GK) with 100 marks in total.
While the main examination is conducted for 200 marks which include English, computer, numerical ability or quantitative ability, general awareness, reasoning, and computer.
This also includes a descriptive test also into which the candidate’s ability to deal with the topics, his aptitude and awareness are checked and calculated.
It is necessary to pass not only the overall cutoff but also sectional cut off of each paper and only this makes a challenging task for every aspirant.
Interview
IBPS Interview:
This is the last step left to reach your goal. If you have passed the above 2 stages then you reach this platform. The interview section holds 100 marks and here, the panel of experts tests your knowledge, your way of speaking, your communication skills and IQ.
After this, the candidate is shortlisted for a suitable job.
Bank Types
These kinds of banks help their customers to pay their expenses via e-transfer mode. They have the authority to save or deposit small/poor people’s money in their respective bank accounts. What they can’t do is to provide loan or credit to their customers.
Aditya Birla Nuvo Ltd, Airtel M Commerce Services Ltd, Tech Mahindra Ltd etc. are the names of some Payment Banks.
As the name signifies, these banks are indulging for providing loans or excepting deposits to or from commercial units respectively to help them to extend or establishing commercial units. These kinds of banks are registered under the Banking Regulation Act, 1949.
Commercial Banks are categorized further into scheduled and non-scheduled banks.
Scheduled banks– these are listed in 2nd schedule of RBI, 1934. This includes SBI and its subsidiaries, national banks, RRB, Foreign Banks, Cooperative Banks, and Private banks.
Non-Scheduled Banks-
These are just reverse of scheduled banks. Less than 5 lakh capital is allowed to borrow from RBI that’s why it is not permitted to extend loans to anybody. Jammu and Kashmir Bank is an example.
Registered under Cooperative Societies Act, 1912, these banks provide general services to its own members and cooperative societies like lending money and depositing money etc.
Regional Rural Banks were first set up in 1975 and today it is majorly governed by government and so major share is acquired by Central government by 50%. The state government has 15 % share and 35 % with sponsor bank i.e. Syndicate Bank. These banks operate in different states of India to provide financial services in rural areas.
Mortgage means acquiring something by mortgaging their property so that to convey to a creditor as security on a loan, so these banks provide long term loans to farmers for land development or purchasing land for productivity.
These kinds of banks help to sell new shares to the general public for raising money.
Courses
Banking Career is not only a secure career but also a high-paying career. Candidates can pursue degree, diploma or certificate courses to get a Banking Sector Job. Below provided are the list of all the banking degrees and courses through which a candidate may pursue a Banking Career:
Post Graduate Certificate in Investment Banking
Certificate Course in Banking
Certificate Course in Banking Management
Certificate Course in Patent Searching & Drafting
Candidates can also go for the following in-demand courses in banking sector India:
- BBA in Banking & Finance
- BCom in Banking & Finance
- BBA in Banking
- BCom in Banking Management
- BCom in Banking & Insurance
- BCom (Hons.) in Banking and Insurance
- BSc in Banking and Finance
- MBA in Banking & Taxation
- MBA in Banking & Finance
- BCom in Banking Management
- BCom in Bank Management
- BCom in Banking & Insurance Management
- BCom in Banking, Finance and Risk Management
- MSc in Banking and Finance
- Ph.D. in Banking & Finance
- Master in Banking/Finance/Insurance
- Diploma Courses in Banking
- Advanced Diploma Course in Banking Services
- Diploma in Banking and Finance
- Diploma in Banking and Insurance
- Diploma in Banking and Insurance Management
- Advance Diploma in Urban Co-operative Banking
- Diploma in Banking Laws
- Diploma in Banking Management
- Diploma in Home Loan Advising
- Diploma in Banking Services
- Post Graduate Diploma in Bank Management
- Post Graduate Diploma in Banking
- Post Graduate Diploma in Banking and Financial Management
- Post Graduate Diploma in Development and Investment Banking
- Post Graduate Diploma in Islamic Banking and Finance
- Banking related laws .
- Business Mathematics
- Marketing Banking Services.
- Computerized Accounting.