Newly Joined Clerk in PSU Bank Salary in 2026: Salary Slip, Basic Pay, Allowances & Take-Home Salary

A newly joined Public Sector Bank (PSU Bank) Clerk can expect a salary comprising Basic Pay, Dearness Allowance (DA), House Rent Allowance (HRA), Transport Allowance and other applicable allowances.

The salary slip shown above provides an example of a June 2026 salary structure for a Customer Service Associate (Clerk) in a Public Sector Bank. The actual salary may vary depending on the bank, posting location, stage of pay, allowances and individual deductions.

PSU Bank Clerk Salary Slip – June 2026

According to the salary slip, the employee's Gross Salary is ₹48,990, while the Net Salary credited is ₹45,096.41.

The Basic Pay of ₹26,730 forms the core component of the salary, while DA, HRA, transport and special allowances add to the monthly gross earnings.

The total employee deductions reflected in the slip are ₹3,893.59.

The slip also displays a DCPS Bank Contribution of ₹5,050.63 separately. This is shown as a contribution and should not be added to the employee's total deductions when calculating the net salary.

Net Salary

After applicable employee deductions, the salary slip shows:

Gross Salary: ₹48,990.00

Total Employee Deductions: ₹3,893.59

Net Salary:₹45,096.41

Thus, the employee receives approximately ₹45,096 as take-home salary for the month shown in the example.

Important Note for Newly Joined PSU Bank Clerks

The salary shown in this example should not be treated as a fixed salary applicable to every newly joined bank clerk. Actual salary can differ based on factors such as:

* Bank and applicable Bipartite Settlement

* Pay stage and increments

* Posting/location

* HRA and other location-based allowances

* Special allowances

* Professional tax and other statutory deductions

* Pension/NPS/DCPS-related contributions

* Other individual deductions

Therefore, candidates joining a PSU bank should check their appointment terms and the latest applicable salary structure for an accurate estimate.

The example salary slip demonstrates that a PSU bank clerk's monthly salary can include several components beyond Basic Pay. In this June 2026 example, ₹48,990 gross salary translates into ₹45,096.41 net salary after employee-side deductions.

Disclaimer: This post is based on the salary slip shown in the accompanying image and is intended for informational purposes. Salary components and amounts may vary from employee to employee and from bank to bank.

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Financial Results of PSU and Private Banks for Q1FY27

  

The public sector and private sector banks have released the financial results for Q1FY27. 

Public Sector Bank

Bank	Results
Bank of India (BoI)	Click Here
Punjab & Sind Bank	Click Here
Central Bank of India	Click Here
Union Bank of India	Click Here
Indian Overseas Bank	Click Here
Bank of Maharashtra	Click Here
State Bank of India (SBI)	Click Here
Punjab National Bank (PNB)	Click Here
Bank of Baroda (BoB)	Click Here
Canara Bank	Click Here
Indian Bank	Click Here
UCO Bank	Click Here

Private Banks

Bank	Results
IDBI Bank	Click Here
Kotak Mahindra Bank	Click Here
IDFC First Bank	Click Here
HDFC Bank	Click Here
ICICI Bank	Click Here
Indusind Bank	Click Here
Axis Bank	Click Here

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State Bank of India(SBI) Q1 results: Net profit rises 10%

 

For the April–June quarter of FY27, State Bank of India (SBI) reported a 10.2 percent year-over-year increase in net profit to Rs 21,121 crore, exceeding the CNBC–TV18 poll estimate of Rs 19,145 crore. In the same period last year, the biggest lender in the nation earned a net profit of Rs 19,160 crore.

From Rs 40,907 crore to Rs 46,992 crore, net interest income (NII) increased by 15% annually. Additionally, the amount exceeded the CNBC-TV18 poll prediction of Rs 45,800 crore. In contrast to the poll forecast of Rs 30,004 crore, pre-provisioning operating profit (PPoP) for the quarter was Rs 33,530 crore.

SBI also reported a sequential improvement in asset quality. Gross non-performing assets (NPAs) declined to 1.47 percent from 1.49 percent in the preceding quarter, while the net NPA ratio eased to 0.38 percent from 0.39 percent.

Provisions rose to Rs 5,047 crore during the quarter from Rs 2,872 crore in the preceding quarter and Rs 4,759 crore in the year-ago period. However, credit cost remained unchanged sequentially at 0.27 percent and declined from 0.47 percent a year earlier.

Domestic net interest margin (NIM) stood at 3 percent during the quarter, while whole-bank NIM improved by 5 basis points sequentially to 2.86 percent.

Gross advances grew 18.6 percent year-on-year and 2.3 percent sequentially during the quarter. Slippages increased to Rs 7,359 crore from Rs 5,548 crore in the preceding quarter. The slippage ratio rose to 0.57 percent from 0.47 percent sequentially.

SBI's return on assets (ROA) stood at 1.11 percent for the quarter, while return on equity (ROE) was 17.87 percent.

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5-Day Banking Latest News: Bank Unions Announce Nationwide Demonstrations on 12 August

The United Forum of Bank Unions (UFBU) has called for coordinated protests on August 12, 2026, to call for the early adoption of five-day banking. All state capitals as well as other significant cities and locations around the nation will host the protests after business hours.

The need for five-day banking hasn't been met in over two years. In January 2026, bank workers staged a one-day walkout in support of the demand, but no decision was made about the introduction of five-day banking.

In its circular dated 4 August 2026, UFBU said that after the successful strike on 27 January 2026, bank employees and officers were expecting a positive response from the Government on the 5-day banking demand.

According to UFBU, the Indian Banks’ Association (IBA) had agreed to 5-day banking in the MOU as well as the Settlement/Joint Note, and the matter was recommended to the Government. However, a final decision is still awaited.

According to UFBU, the government has requested that banks begin preparing for the upcoming wage adjustment settlement, which is scheduled for November 2027. The unions, however, stated that a decision on the outstanding matter of implementing five-day banking had yet to be made. As a result, the unions have made the decision to bring up the issue once more and ask the government for an early ruling. 

On August 12, 2026, after business hours, UFBU has agreed to hold coordinated protests in all state capitals as well as other significant towns and locations. It has been requested that all bank employees and member unions fully participate in the program. According to UFBU, the unions will convene soon to choose their next line of action, which may include going on strike.However, no new strike date has been announced yet.

The circular has been signed by leaders of AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBOC and INBEF.

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Bank Employees' Dearness Allowance (DA) Increased to 27.83% from August 2026 – Check Latest DA Rate

There is good news for lakhs of bank employees across India. The Dearness Allowance (DA) has been increased by 2.13%, taking the DA rate from 25.70% to 27.83% for the quarter August 2026 to October 2026.

The revised DA will be effective from 1 August 2026 and will be payable to employees covered under the 12th Bipartite Settlement.

New DA Rate Effective from 1 August 2026

The latest Dearness Allowance has been calculated based on the average Consumer Price Index (CPI-IW) for the three-month period of April, May, and June 2026.

CPI-IW Data Used for DA Calculation

Month	CPI-IW
April 2026	149.9
May 2026	150.8
June 2026	151.9
Average CPI-IW	150.86

Based on this average CPI of 150.86, the Dearness Allowance has been revised to 27.83%.

DA Increased by 2.13%

The latest revision results in an increase of 2.13 percentage points over the existing DA.

Particulars	DA Rate
Existing DA (May–July 2026)	25.70%
Revised DA (August–October 2026)	27.83%
Increase	2.13%

This increase will enhance the monthly salary of bank employees by increasing the DA component of their pay.

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Canara Bank Q1 Net profit rises 2%

On July 27, state-owned lender Canara Bank announced that its net profit for the first quarter of FY27 was Rs 4,856 crore, up 2.2% from Rs 4,752 crore for the same period last year.

The bank's net interest income increased from Rs 9,009 crore in Q1FY26 to Rs 10,215 crore, a 13.4 percent increase. However, the net interest margin (NIM) for the June quarter remained constant at 2.52 percent, the same amount as in Q1 of FY26.

The PSU lender’s Capital Adequacy Ratio stood at 17.17 percent as at June 2026, out of which CET1 ratio was 12.91 percent.

The bank’s domestic deposits stood at Rs 14.73 lakh crore as at June 2026, rising 10.1 percent on a year-on-year basis, while domestic gross advances grew much faster at 17 percent YoY to Rs 12.07 lakh crore as at June 2026.

The company’s asset quality improved during the quarter. The gross non-performing assets (GNPA) ratio improved to 1.57 percent as at June 2026, reduced from 1.84 percent as at March 2026 and 2.69 percent as at June 2025.

The net NNPA ratio improved to 0.36 percent as at June 2026, down from 0.43 percent as at March 2026 and 0.63 percent as at June 2025.

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Bank of Baroda(BOB) Q1 Net profit falls 72%

Bank of Baroda(BOB) reported a 72 percent drop in net profit for the first quarter of FY27 to Rs 1,278 crore on July 24, after the lender absorbed the impact of the out-of-court settlement of about Rs 5,700 crore to the joint administrators of United Arab Emirates-based NMC Health.

The country’s second largest public sector lender had posted a net profit of Rs 4,541 crore in the previous corresponding quarter.

The lender, however, posted a 9.5 percent growth in net interest income for Q1 FY27 to Rs 12,524 crore, a near 10 percent growth from Rs 11,435 crore in the prior corresponding quarter.

The bank’s asset quality remained benign, with the net non-performing asset (NNPA) coming down by 10 basis points to 0.5 percent for the June quarter from 0.6 percent, while the gross NPA (GNPA) was at 1.99 percent, as compared to 2.24 percent in the first quarter of FY26.

The lender’s capital adequacy ratio was at 16.31 percent for the first quarter, as compared to 17.61 percent, a whopping 130 basis point drop.

The bank’s global advances grew 17.4 percent to Rs 14.16 lakh crore for Q1 FY27, as compared to Rs 12.07 lakh crore in the previous corresponding period. The bank’s deposits, however, grew lesser at 13.8 percent to Rs 16.33 lakh crore.

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Bank of India(BOI) Q1 Results: Net profit surges 36% YoY, NII rises 13%

Bank of India(BOI) reported a strong set of financial results for the first quarter of the financial year, driven by healthy growth in profitability and steady improvement in asset quality. The public sector lender posted a 36% year-on-year (YoY) increase in net profit at ₹3,068 crore, compared with ₹2,252 crore in the corresponding quarter of the previous fiscal. 

The bank's Net Interest Income (NII), which measures income earned from lending activities after interest expenses, rose 13% YoY to ₹6,833 crore, up from ₹6,068 crore a year earlier. The increase reflects healthy growth in the bank's core lending operations and improved interest earnings.

Bank of India also reported continued improvement in its asset quality during the quarter. Gross Non-Performing Assets (GNPA) declined to 1.81% from 1.98% in the previous quarter, while Net Non-Performing Assets (NNPA) improved to 0.51% from 0.56% on a quarter-on-quarter basis. The lower bad loan ratios indicate better recovery efforts and stronger credit quality.

Net Profit up 36.2% to Rs 3,068 crore versus Rs 2,252 crore YoY

Net Interest Income (NII) up 12.6% to Rs 6,833 crore versus Rs 6,068 crore YoY

Gross NPA at 1.81% versus 1.98% QoQ

Net NPA at 0.51% versus 0.56% QoQ

Provisions to Rs 964 crore versus Rs 1,096 crore YoY

Provisions to Rs 964 crore versus Rs 990 crore QoQ

The lender's provisions stood at ₹963.6 crore, lower than ₹989.7 crore reported in the preceding quarter and ₹1,096 crore in the same quarter last year. The decline in provisioning reflects improving asset quality and reduced stress in the loan portfolio.

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