Bank Officers Revised Salary – Nov 2020

We have prepared the November 2020 pay-slip chart (shown below) for bank officers taking into following points in terms of 8^th Joint note signed by representatives of officers associations and IBA representatives  on 11.11.2020).

1. DA would be at 0.07% per slab of 4 points over 6352 points.
2. HRA at 9%, 8%, and 7% remain unchanged. (Officers staying in bank quarters are not eligible for HRA. We have calculated HRA@ 9% for the illustration purpose. Officers who are entitled to HRA @ 8% or 7% shall get a slightly lower amount than what is shown as total salary with HRA in the chart.
3. CCA at the higher area is Rs.1400 and Rs.1150 for lower centers (We have taken Rs.1400 as CCA in the calculation. Officers who are eligible for CCA of Rs.1150 will get Rs.250 less in the gross salary shown in the chart.
4. Newly introduced Location Allowance for Non-CCA centers Rs.700 per month w.e.f. 1.11.2017. Officers of non-CCA center branches (who are not eligible for CCA) will get Rs.700 less in the gross salary shown in the chart.
5. Learning Allowance a new feature has been introduced w.e.f 1.11.2017 at the rate of Rs.600 with applicable DA thereon for all officers
6. One additional stagnation increment is introduced for Scale 1 to 4, w.e.f. 1.11.2017.
7. Scale V officers get one stagnation increment with effect from 1.11.2020
8. Periodicity of all such stagnation increments will be 2 years

9. Fixed Personal Pay together with House Rent Allowance shall be at the following rates and shall remain frozen for the entire period of service.

* F.P.P. for officers eligible for House Rent Allowance shall be “A” + “B” plus House Rent Allowance payable on the last increment of the relevant scale of pay.

*The increment component of F.P.P. shall rank for superannuation benefits.

*  Only officers who were in the service of the bank on or before l.11.93 will be eligible for F.P.P one year after reaching the maximum scale of pay they are placed

10. Professional Qualification Pay (PQP) (w.e.f. l.ll.2017)

(A) (i) Officers shall be eligible for professional qualification pay as under:

1.  Those who have passed only CAIIB -Part I / JAIIB Rs.1020/- p.m. one year after reaching top of the scale.
2.  Those who have passed both parts of CAIIB –

    a. 1020/- p.m. one year after reaching top of the scale.

    b. 2550/- p.m. two years after reaching top of the scale.

An Officer employee acquiring JAIIB/CAIIB (either or both parts) qualifications after reaching the maximum of the scale of pay, shall be granted from the date of acquiring such qualification the first installment of PQP and – the release of subsequent installments of PQP shall be with reference to the date of release of first installment of PQP.

11. All existing stagnation increments will be now of 2 years notionally w.e.f 1.11.2017 for the purpose of superannuation benefits. All accumulated increments shall be released w.e.f 01.11.2020