First of all, what do you mean by SBI? and the next question is how much an SBI PO gets a salary in a month or in a year. So, we are here to tell you about each and every minutes details about the SBI PO. So, before proceeding further let’s check out what is the meaning of SBI:- The State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. The government corporation statutory body headquartered in Mumbai, Maharashtra. In the Fortune Global 500 list of the world’s biggest corporations of 2018, SBI is ranked as 216th. It is the enormous bank in India with a 23% market share in assets, besides a share of 1/4 of the total loan and deposits market.
Now the question is how the employees of SBI gets a salary? So, here is the answer to it. SBI (State Bank of India) is an exception though. The Gross Annual Salary of an SBI PO can range anywhere between 7.5 lakhs to 13 lakhs. It also depends on the location & other factors. An SBI PO/ Probationary Officer is fundamentally an Assistant Manager of Scale I in a bank.
EMPLOYEES OF SBI
Before telling you more about SBI PO salary, Let’s check out the employee structure of SBI in our country. SBI is one of the largest employers in the country with 209,567 staff as on 31 March 2017, out of which there were 23% female staff and 3,179 (1.5%) staff with dysfunction. On the indistinguishable date, SBI had 37,875 Scheduled Castes (18%), 17,069 Scheduled Tribes (8.1%) and 39,709 Other Backward Category (18.9%) staff. The rate percent of Officers, fellow worker, and Sub-staff was 38.6%, 44.3%, and 16.9% respectively on the interchangeable date. Around 13,000 employees have connected the Bank in FY 2016–17. Each employee contributed a net profit of ₹511,000 (US$7,400) during FY 2016–17.
SBI PO SALARY STRUCTURE 2019
The starting basic pay for SBI PO salary is Rs. 27,620/- (with 4 advance increments). The pay scale is Rs. 23,700-980/7- 30,560-1,145/2-32,850-1,310/7-42,020. The Total SBI PO Salary per year will be a least of Rs 8.20 lakhs and utmost of Rs 13.08 lakhs (depending on the place of your posting and other factors).
|BASIS OF SALARY||SALARY|
|Dearness Allowance (DA)||46 percent of the basic pay|
|Furniture Allowance||Rs 1,20,000|
|Leased House Accommodation / House Rent Allowance (HRA)||Rs 8000 (in rural areas) to Rs 29,500 (in Mumbai).|
|City Compensatory Allowance (CCA)||3 to 4 percent of the basics|
|Travel Allowance (TA)||reimbursement of travel cost for official travels|
BENEFITS FOR EMPLOYEES
There are some other kinds of Additional Benefits and Allowances which are given to the SBI Bank PO employee for benefit purpose. The list is given below :-
|BENEFITS FOR EMPLOYEES|
|1) Cashless treatment in selected medical facilities around the country|
|2) Petrol allowance|
|3) Entertainment allowance|
|4) Concessionary interest rates for House Loan, Car Loan, and Personal Loan|
|5) Telephone bill reimbursement|
|6) House maintenance allowance|
|7) Books and magazines allowance|
|8) Newspaper allowance|
|9) Medical insurance (100 percent for SBI PO and 75 percent for family members)|
ROLE OF SBI PO
What is the role of SBI PO?? To answer this question candidates may check the table to get clear about what they have to face in the future or it will help you to make up your mindset regarding your work.
|WORKINGS||DESCRIPTION OF WORK|
|Communication Skill||The PO you will communicate with the customers, stakeholders, and regulators. Maintaining track of new developments, customer interlinkage, and official conversation will be a part of your daily work.|
|Filling Report||The Employee would be designated to generate reports on daily basis operational transactions like deposits, withdrawals, ledger balances, etc.|
|Authorising Operations:||SBI follows the maker & checker system where the PO is accountable for affirmation of all the journal processed by bank clerks. In cash, clearing, and operations journal, the clerk is the maker and PO is the checker and the responsibility of losses lies with the checker.|
|Customers Services||The employees serve their services to their respective customers comprise the everyday banking operations like:- opening new accounts, security custodian of debit (ATM) cards, making FDs, DD PO, Loan processing, Cheque book handling, NEFT/ RTGS processing and issue of ATM cards, checkbooks, demand drafts, etc.|
|Marketing & Business Lead Generation||As POs you will be the direct channel of the bank interacting with customers on a daily basis. The Employee will be responsible for encouraging banking products like Recurring Deposits (RD), Fixed Deposits (FD), Insurance policies, Mutual Funds, Credit Cards, Loans, etc. Initially, you will not be under any enforcement to sell these products, but as time passes and you become senior, you will undergo targets & deadlines for lead generation and sales.|
|Cash Handling||In the case of heavy crowd/ leave of the teller or placement of the cashier post, you may have to execute administrative activities as well, like accepting cash deposits & withdrawals. Thus you will be indoctrinated about the cash transaction software too. Additionally, if the branch has ATM attached to it then you will be blameworthy for the ATM activities as well.|
SBI PO Career Growth with Promotions
SBI PO is Considered as Most Prestigious Bank Job among all other banks. Everyone who is preparing for Bank exam give their Best effort to Crack this State Bank PO Exam. Career Growth In SBI through exam is very Fast as compared to other Banks. SBI Conduct promotion exams in every 3-4 years. By clearing Exam you can go upto the Rank of Chairman in SBI which is top most Level of Management Grade. Here are Career Growth with Ranks of a SBI PO
|Scale I||Assistant Manager i.e. PO||Junior Management Grade|
|Scale II||Deputy Manager||Junior Management Grade|
|Scale III||Manager||Middle Management Grade|
|Scale IV||Senior Manager||Middle Management Grade|
|Scale V||Chief Manager||Senior Management Grade|
|Scale VI||Assistant General Manager||Senior Management Grade|
|Scale VII||Deputy General Manager||Top Management Grade|
|Scale VIII||General Manager||Top Management Grade|
|Scale IX||Chief General Manager||Top Management Grade|
|Scale X||Deputy Managing Director||Higher Top Management Grade|
|Scale XI||Managing Director||Higher Top Management Grade|
|Scale XII||Chairman||Top Most Higher Management Grade|
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