Salary in Banking
Industry is governed by the Bipartite Settlement which is signed between Bank
Employee’s/Officer’s Trade Union and Indian Bank’s Association. Here Trade
Unions represent the Emplyee’s/Officer’s trade Union/Association and Indian
Bank’s Association represents the Bank Management and Government.
Bank Salary is subject
to revision after every 5th year. Present salary
structure in Banking Industry is governed by the 11th Bipartite
Settlement/Joint Note which was signed on 11.11.2020 effective from 01.11.2017
(1) Basic Salary Slab:
|
#
|
Scales
|
Pay Band
|
|
1
|
Scale I
|
36000-1490/7-46430-1740/2-49910-1990/7-63840
|
|
2
|
Scale II
|
48170-1740/1-49910-1990/10-69810
|
|
3
|
Scale III
|
63840-1990/5-73790-2220/2-78230
|
|
4
|
Scale IV
|
76010-2220/4-84890-2500/2-89890
|
|
5
|
Scale V
|
89890-2500/2-94890-2730/2-100350
|
|
6
|
Scale VI
|
104240-2970/4-116120
|
|
7
|
Scale VII
|
116120-3220/4-129000
|
Basic Salary Chart
with Scale-I to Scale- VII with Stagnation Increment:
|
Stage
|
JMG-1
|
MMG-2
|
MMG-3
|
SMG-4
|
SMG-5
|
TMG-6
|
TMG-7
|
|
1
|
36000
|
48170
|
63840
|
76010
|
89890
|
104240
|
116120
|
|
2
|
37490
|
49910
|
65830
|
78230
|
92390
|
107210
|
119340
|
|
3
|
38980
|
51900
|
67820
|
80450
|
94890
|
110180
|
122560
|
|
4
|
40470
|
53860
|
69810
|
82670
|
97620
|
113150
|
125780
|
|
5
|
41960
|
55880
|
71800
|
84890
|
100350
|
116120
|
129000
|
|
6
|
43450
|
57870
|
73790
|
87390
|
103320SI
|
|
|
|
7
|
44940
|
59860
|
76010
|
89890
|
|
|
|
|
8
|
46430
|
61850
|
78230
|
92390SI
|
|
|
|
|
9
|
48170
|
63840
|
80450SI
|
95120SI
|
|
|
|
|
10
|
49910
|
65830
|
82670SI
|
|
|
|
|
|
11
|
51900
|
67820
|
84890SI
|
|
|
|
|
|
12
|
53890
|
69810M
|
87110SI
|
|
|
|
|
|
13
|
55880
|
71800A
|
89610SI
|
|
|
|
|
|
14
|
57870
|
73790A
|
92110SI
|
|
|
|
|
|
15
|
59860
|
76010A
|
|
|
|
|
|
|
16
|
61850
|
78230A
|
|
|
|
|
|
|
17
|
63840M
|
80450SI
|
|
|
|
|
|
|
18
|
65830A
|
82670SI
|
|
|
|
|
|
|
19
|
67820A
|
84890SI
|
|
|
|
|
|
|
20
|
69810A
|
87110SI
|
|
|
|
|
|
|
21
|
71800SI
|
89330SI
|
|
|
|
|
|
|
22
|
73790SI
|
|
|
|
|
|
|
|
23
|
76010SI
|
|
|
|
|
|
|
|
24
|
78230SI
|
|
|
|
|
|
|
|
25
|
80450SI
|
|
|
|
|
|
|
M=
Maximum of Present Scale
SI=
Stagnation Increment
A=
Annual Increment as per regulation 5(b)
Regulation
5(b)- "Officers in Scale I and Scale II, one year after reaching the
maximum in their respective scales, shall be granted further increments
including stagnation increments in the next higher scale only as specified
under subject to their crossing the efficiency bar as per guidelines of the
Government."
Stagnation Increments:
Officers in JM
Grade Scale I who have moved to scale of pay for MMG Scale II in terms
of Regulation 5(b) after reaching maximum of the higher scale shall be eligible
for five stagnation increments for every two completed years of service of
which first two shall be Rs.1990/- each and next two shall be Rs.2220/- each.
The fifth stagnation increment of Rs.2220/- will be released two years after
the receipt of fourth stagnation increment or w.e.f. 01.11.2017 whichever is
later.
Officers in MMG Scale II who have moved to scale of pay for
MMG Scale III in terms of Regulation 5(b) after reaching maximum of higher
scale shall be eligible for five stagnation increments. First four stagnation
increment of Rs.2220/- will be released after every two completed years of
service after reaching maximum on the higher scale. The fifth stagnation
increment of Rs.2220/- will be released two years after the receipt of fourth
stagnation increment or w.e.f. 01.11.2017 whichever is later.
Officers in substantive MMG Scale III i.e. those who are
recruited in or promoted to MMG Scale III shall be eligible for six stagnation
increments. First four stagnation increment of Rs.2220/- will be released after
every two completed years of service. The fifth stagnation increment of Rs.2500/-
will be released two years after the receipt of fourth stagnation increment.
The sixth stagnation increment of Rs.2500/- will be released two years after
the receipt of fifth stagnation increment or w.e.f. 01.11.2017 whichever is
later.
Officers in SMGS-IV shall be eligible for two stagnation increment
of Rs.2730/- each two years after reaching the maximum of scale w.e.f.
01.11.2017.
Officers in SMGS-V shall
be eligible for one stagnation increment of Rs.2970/- two years after reaching
the maximum of scale w.e.f. 01.11.2020.
(2) Dearness
Allowance:
For details of DA paid
to Clerk and Sub Staff in Bank Please Refer Latest Bank DA Page-Click Here
(3) Special
Allowance:
With the signing of
10th Bipartite Settlement, IBA has introduced an allowance called Special
Allowance which is calculated as a % of basic pay per month. DA is also
payable on Special Allowance. Special Allowance is not eligible for any
retirement benefits.
|
Scale
|
Scale 1,2, 3
|
Scale 4,5
|
Scale 6,7
|
|
% of Basic
|
16.4
|
19
|
20
|
(4) House Rent
Allowance:
HRA is paid as a % of
basic as per the following limits
|
#
|
Population
|
HRA as % of basic for
all officers
|
|
1
|
Metro and Major 'A'
Class cities
|
9.00%
|
|
2
|
Area 1 Cities
|
8.00%
|
|
3
|
All other places
|
7.00%
|
(5) City
Compensatory Allowance:
|
#
|
Places
|
Limit
|
|
1
|
Places in area 1
& Goa
|
Rs.1400/- p.m.
|
|
2
|
Places with population of 5lakhs+ and State
Capitals & Chandigarh, Pondicherry, Port Blair
|
Rs.1150/- p.m.
|
(6) Location Allowance
for Non- CCA Centers:
W.e.f. 01.11.2017 a
fixed allowance of Rs.700/- p.m. is payable to all officers
posted in areas other than that are eligible for CCA. This allowance is not
eligible for DA,Pension etc.
(7) Medical Aid:
·
For Scale 1 to Scale
3- Rs.10300/- p.a.
·
For Scale 4 to Scale
7- Rs.12300/-p.a.
(8) Learning
Allowance:
W.e.f. 01.11.2017
Officers shall be paid Learning Allowance of Rs.600/- together with
applicable DA thereon
Read More : What is a Salary of Clerk & Sub-Staff after 11th BPS?
Read More : Salary chart of Substaff,Clerical Staff and Officers after 12th Bipartite Settlement (Tentative)
(9) Fixed Personal
Pay:
Fixed personal pay is
payable to the employees who were in Bank's service as on 01.11.1993. It is
payable to the officers who are provided with Bank's accommodation. It is
payable after reaching maximum in his pay scale as per the following limit:
|
Increment Component
|
DA as on 1.11.2017
|
Total F.P.P. payable (A+B)
|
|
(A)
|
(B)
|
(C)
|
|
1990
|
53
|
2043
|
|
2220
|
59
|
2279
|
|
2500
|
66
|
2566
|
|
2730
|
73
|
2803
|
|
2970
|
79
|
3049
|
|
3220
|
86
|
3306
|
(10) Recovery of
House/Furniture Rent:
·
House rent recovery shall be @ 0.50 % of the first
stage of the scale of pay in which the officer is placed or the standard rent for
the accommodation, whichever is less.
·
Furniture rent
recovery shall be @
0.10% of the first stage of the scale of pay in which the officer
is placed.
(11) Halting
Allowance:
|
Scales of Officers
|
Metro
|
Major
‘A’ Class Cities
|
Area
I
|
Other
Places
|
|
Scale VI & above
|
2700
|
1950
|
1650
|
1425
|
|
Scale IV & V
above
|
2250
|
1950
|
1650
|
1425
|
|
Scale I/II/III
|
1950
|
1650
|
1425
|
1200
|
(12) Lodging Expenses:
|
Scales of Officers
|
Major
‘A’ Class Cities
|
Area
I
|
Other
Places
|
|
Scale VI & VII
|
6800
|
3400
|
3000
|
|
Scale VI & V
|
4000
|
2400
|
2000
|
|
Scale II & III
|
2400
|
1600
|
1200
|
|
Scale I
|
1600
|
1200
|
800
|
(13)
Professional Qualification Pay (PQP):
Those who have passed
only CAIIB – Part I / JAIIB
·
Rs.1020/- p.m.
one year after reaching top of the scale.
Those who have passed
both parts of CAIIB –
·
Rs.1020/- p.m. one
year after reaching top of the scale.
·
Rs.2550/- p.m. two
years after reaching top of the scale.
(14) Leave Travel
Concession (LTC):
During each block of 4
years, an officer shall be eligible for leave travel concession for travel to
his place of domicile once in each block of two years. Alternatively, he may
travel in one block of two years to his place of domicile and in another block
of two years to any place in India by the shortest route. For definition of
Family for the purpose of this scheme please Click Here . Now w.e.f. 20.10.2023, IBA has approved
both husband and wife to avail LFC even if they are working in the same Bank.
For detailed circular please Click Here
(15) Encashment of
LTC:
|
Scale
|
Eligibility class by
train (not Rajdhani)
|
Encashment per Unit
for 2/4 years Block (Other than Home town Travel)
|
|
Scale I to III
|
II AC
|
4500km for one way
|
|
Scale IV and above
|
I AC
|
5500 for one way
|
30 days PL can also be
encashed in a block of 4 years
(16) Mode of Travel:
|
Scale
|
Mode of Travel
|
|
Scale 1
|
1st class
or AC II tier sleeper or by air (economy class, if permitted by competent
authority)
|
|
Scale 2,3
|
1st class
or AC II tier sleeper or by air (economy class) if distance is beyond 1000
kms
|
|
Scale 4,5,6,7
|
AC 1st Class
or by Air (economy class)
|
(17)
Deputation Allowance:
|
Place
|
Rate and Limit
|
|
Outside the Bank
|
7.75% of pay -
Max.6000/- pm
|
|
Same Place or Training
Centers
|
4.00% of Pay-
Max.3000/- pm
|
(18)
Compensation on Transfer:
|
Scale
|
Limit
|
|
Scale IV and above
|
30,000/-
|
|
Scale I, II and III
|
25,000/-
|
(19) Hill
& Fuel Allowance:
|
#
|
Places
|
Rate and Limit
|
|
1
|
Places with an
altitude of 1000 meters and above but less than 1500 meters and Mercara Town
|
2% of Pay, maximum
1125/- pm
|
|
2
|
Places with an altitude of 1500 meters and
above but less than 3000 meters
|
2.5% of Pay, maximum 1500/- pm
|
|
3
|
Places with an
altitude of 3000 meters and above
|
5% of Pay, maximum
3000/- pm
|
(20) Closing
Allowance:
A closing allowance of
Rs.250/- is payable to all officers except those working in administrative
offices. This may vary from bank to bank.
(21) Mid Academic Year
Transfer Allowance:
Mid Academic Year
Transfer Allowance shall be payable at Rs.1650/- p.m. This may
vary from bank to bank.
(22) Project Area
Allowance:
|
Project Areas
Falling in Group A
|
Rs.600/-
|
|
Project Areas
Falling in Group B
|
Rs.525/-
|
(23) Split Duty
Allowance:
Split Duty allowance
shall be a payable at Rs.300/-
(24) Travel by
own Car:
Any travel for
Bank work which is not covered under any other scheme will be paid as below:
·
Cars (1000cc and
above) - Rs.9.00/km
·
Cars (less than
1000cc)- Rs.7.00/km
·
M/cycle, Scooter- Rs.4.50/km
·
Moped- Rs.3.00/km
(25) Officiating
Allowance:
Payable @6% on
performing duties attached to higher post (Scale), provided that officiating is
minimum 7 days a month or 7 days continuous period. It is also eligible for PF.
(26) Conveyance
Allowance to Blind and Ortho Handicapped:
Payable at @5% of
Basic, max. Rs.400-/ p.m.
(27) Residential
Accommodation Facility:
|
Scale
|
Mumbai/Delhi
|
Major A Cities
|
Category A
|
Category B
|
Category C
|
|
1
|
18000/17000
|
15000
|
10000
|
8000
|
6000
|
|
2
|
20000/18000
|
16000
|
12000
|
9000
|
7000
|
|
3
|
22000/20000
|
18000
|
14000
|
11000
|
8500
|
|
4
|
25000/24000
|
22000
|
15000
|
13000
|
12000
|
|
5
|
35000/30000
|
24000
|
18000
|
18000
|
15000
|
|
6
|
40000/35000
|
30000
|
25000
|
25000
|
20000
|
|
7
|
50000/45000
|
35000
|
32000
|
-
|
-
|
(28) Travel Expenses
Reimbursement (Petrol in Liters):
For Four Wheeler:
|
Scale
|
Metro/Major A Cities
(Liters)
|
Category
A(Liters)
|
Category B(Liters)
|
Category C(Liters)
|
|
1
|
55
|
55
|
50
|
45
|
|
2
|
70
|
70
|
60
|
55
|
|
3
|
90
|
90
|
75
|
60
|
|
4
|
90
|
90
|
75
|
60
|
For Two
Wheeler:
|
Vehicle
|
Metro/Major A Cities
(Liters)
|
Category
A(Liters)
|
Category B(Liters)
|
Category C(Liters)
|
|
M/cycle, Scooter
|
45
|
45
|
40
|
30
|
|
Moped
|
40
|
40
|
30
|
25
|
Monetary Limit
in Case No Vehicle is owned by Officer:
|
Scale
|
Limit
|
|
1
|
Rs.500
|
|
2
|
Rs.675
|
|
3
|
Rs.675
|
|
4
|
Rs.800
|
(29) Furniture Scheme:
|
Scale
|
Limit(Rs.)
|
|
Scale
1
|
100000
|
|
Scale
2
|
150000
|
|
Scale
3
|
200000
|
|
Scale
4 & 5
|
250000
|
|
Scale
6 & 7
|
300000
|
(30) Other Misc.
Allowance ans Facilities:
|
#
|
Facilities/Allowances
|
Limits
|
|
a
|
Wellness/ Newspaper Expenses
|
These are paid as per scale from Rs.250-Rs.1500 pm
|
|
b
|
Cleaning Material
|
These are paid as per scale from Rs.500-Rs.2000 pm
|
|
c
|
Entertainment Expenses
|
These are paid as per scale from Rs.4000-Rs.30000 per year
|
|
d
|
Supply of Briefcase
|
These are paid as per scale once in 5 years from Rs.1000-Rs.3000
|
|
e
|
Telephone Facility
|
These are paid as per scale from Rs.350-Rs.2000pm
|
|
f
|
Mobile Handset Facility
|
These are paid as per scale from Rs.4000-Rs.30000
|
|
g
|
Expenses on Transfer
|
·
If distance on
transfer is upto 300 kms then 300kms* Rs.2.80/ton *12 ton=Rs.10080/- when IBA
approved Trasporter is used.
·
If distance on
transfer is upto 300 kms then 300kms* Rs.2.80/ton *6 ton=Rs.5040/- when IBA
approved Trasporter is NOT used.
·
If distance is more
than 300kms then amount will be reimbursed as per actual IBA approved
transporter bill
|
(31) Encashment of 5/7
days PL per year:
Employees are allowed
to encash 5 PL per year on any festival of their choice. Employees above the
age of 55 years are allowed 7 PL encashment .
(32) Special Area
Allowance:
Special Area Allowance
is payable as mentioned in my previous post. For details Click Here
Note: Please note that
some of the above allowance and facilities vary from one bank to other.
