Good morning aspirants, we are again back with an interesting article on SBI CBO 2020. In this article we will provide all information regarding salary, perks and allowances, transfer rules, promotion and working culture of state bank of india. This article is specially prepared by our chief mentor Mr. Shourya Pokhriyal who has more than 3 year experience in SBI as an officer. Hope you find this informative and helpful.
Name of organisation : State bank of India
Name of post : Circle based office in scale 1 grade(JMGS-1)
Tentative date of Interview or written exam : October/November 2020
All officers will be selected in scale 1 grade with basic salary of Rs. 23700 and additional increment for each year of prior experience (Rs. 980 for 7 years, Rs. 1145 for next 2 years and Rs. 1310 for further years)
Da rate : 77.1% on basic pay
HRA : 9/8/7%(Will not be paid in case of lease accommodation and additional recovery of House rent recovery will be done)
Special Allowance : 7.75% + DA
Provident fund :10% of basic and same amount will be credited by bank and 8.5 % interest(current rate and is subjected to GOI guidelines) on total amount will be credited in a financial year.
NPS : 10% of( basic+DA) and same amount will be credited by bank (Associated with employee PRAN no.)
Income tax : Deduction as per income slab and as per investment declaration form(IDF) submitted in bank’s internal HRMS portal(regarding 80c investment, Housing loan interest payment etc.)
Other recurring Deductions as per facility, loan availed, if any : Staff loan EMI, festival advance EMI, House rent recovery(Only for lease accommodation ), furniture allowance recovery(If availed), officer union fees etc.
Perks and allowances for scale 1 officer :
Conveyance or petrol allowance :
Decided as per your posting location and registered vehicle(2 wheeler/4 wheeler)
Newspaper allowance :
Entertainment allowance :
It is paid quarterly and amount is as per assigned role (Budgetary, operational, Non budgetary).
Annual Furniture allowance :
Rs. 11000 (Only when an employee has availed furniture allowance greater than Rs. 60000) and will be applicable from next financial year of approval of allowance.
Call and internet reimbursement :
Call charges : Rs. 500
Internet and broadband charges for residence : Rs. 600
Cleansing allowance :
Casual labour :
Rs.20 per day
Transfer will be based on assigned role and post. Initially during probation of 1 year, they may be assigned to different branches for experience. Rest will be as per the manpower requirement and exigencies of services in bank.