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  #2  
19th December 2015, 10:22 AM
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Re: What Is The Salary Of PO In Union Bank Of India

I am a banking career aspirant and I want to know about the salary and other components provided by the Union Bank of India and other banks
  #3  
19th December 2015, 10:29 AM
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Join Date: Aug 2012
Re: What Is The Salary Of PO In Union Bank Of India

Union Bank of India was founded on 11th November 1919 and it’s headquarter is located in Mumbai.
The starting salary of Bank Probationary Officer (PO) in PSU banks is approx. Rs. 25,000. Salary of probationary officers is decided by Indian Banks Association (IBA) and all banks employees umbrella organisation United Forum of Bank Unions (UFBU).

The salary in Public Sector Banks is same, but facilities such as medical, Leased House Rent, Travelling Expenses and other allowances may differ.
The salary as per present norms can be found on this

PSU Bank PO Salary at Joining Time in India



Salary Components of Bank PO:
Basic Salary, Dearness Allowance (DA), House Rent Allowance (HRA), City Compensatory Allowance (CCA). HRA is not provided to those officers who are in accommodation of banks. If you are an officer having your own house and not having banks accommodation then 150 per cent of HRA will be given.

Bank PO Perk and Facilities at Joining Time

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.


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