The Union Bank of India, one of India’s top financial institutions, has Probationary Officer (PO) positions vacant for potential applicants to occupy. The Union Bank of India conducts the examination for its various branches located throughout the country on a national basis every year. The Union Bank of India will shortly release the formal notification for the Probationary Officer (PO) vacancy.
Union Bank of India PO Salary Structure for 2022
The Union Bank of India recruits the probationary officers by CRP – XI OF IBPS i.e. an exam conducted by the IBPS. All the PO posts that come under IBPS almost have the same salary structure with slight variations according to the location of employment. The official website @ibps.in will host the IBPS PO 2022 Notification. The applicants who are selected for the IBPS PO post will be assigned to the Junior Management Grade Scale 1 or JMGS-I position.
Officers who have newly been promoted from the Clerical Cadre to the Officer Cadre are denoted to as JMGS 1 officers. The IBPS Probationary Officer is compensated a basic pay of Rs 36,000/-. There are various allowances including Dearness Allowance (DA), House Rent Allowance (HRA), City Compensatory Allowance (CCA), and Special Allowances. Here’s everything you need to know about IBPS PO Salary.
|Payment types||Amount in INR|
|Special Allowances||Rs. 5,904|
|Basic Pay||Rs 36,000/-|
|Dearness Allowances||Rs. 8,593.20|
|House Rent Allowance||Rs. 3,240|
|City Compensatory Allowances||Rs. 1,400|
|Learning Allowance||Rs. 600|
|Gross with HRA||Rs 57,289.70/-|
|Other Allowances||Rs, 1552.50|
|Net Salary||Rs. 52,630.38/-|
An IBPS Probationary Officer’s initial in-hand wage package ranges from Rs. 52,000 to 55,000, including dearness allowances, special allowances, HRA, and other benefits. The total remuneration for an IBPS PO is roughly Rs. 57,000, with a take-home in-hand salary of around Rs. 52,000 to 55,000 after deductions.
The salary slip of an employee for the IBPS PO Post is shown here.
Union Bank of India PO 2022 Post Wise Salary
Every five years, wage revisions in public sector banks take place. Since November 1, 2017, the 11th bipartite agreement has been in effect. The revised IBPS PO Salary is based on the bipartite settlement modifications. As a result, the remuneration for IBPS PO 2022 has been determined using the 11th Bipartite Agreement.
Union Bank of India PO Allowances
The extra allowance provided for the post of Union Bank of India PO are as follow.
|Allowance||Amount in INR (% of the basic pay)|
|House Rent Allowances||7%-9%|
|Dearness Allowance||23.87% (Varies based on inflation rates)|
|City Compensatory Allowance (CCA)||3% or 4% (depending on the location of posting)|
Union Bank of India PO 2022 Work Profile
Probationary Officer in the banking sector has a good reputation and is the most sought-after position among graduates. Many banking candidates are interested in learning about the functions and responsibilities of a PO employee. The work profile, responsibilities, and tasks that a Probationary Officer must handle after being selected are explained in this section.
- The selected candidates are trained in various day-to-day banking activities such as finance, accounting, billing, investment, revenue collection, and so on during their probation period.
- A Probationary Officer is responsible for resolving consumer complaints.
- A Probationary Officer is in charge of the upkeep and oversight of the branch’s activities.
- As a Probationary Officer, you will be responsible for approaching the branch with new business prospects.
- A Probationary Officer is responsible for overseeing daily transactions and loan-related activity.
- A PO’s job is to maintain good client relations and bring issues and complaints to the bank’s attention.
Union Bank of India PO 2022 Promotions
The Probationary Officer’s career advancement is quite appealing, with numerous options available even after the aspirant has been hired. The possibilities that follow after possessing the post of IBPS PO are listed below based on their performances, experiences, and knowledge. To be considered for promotion, the candidate must appear in IBPS tests regularly.
In terms of promotion policy, the majority of public sector banks adhere to uniform guidelines provided by the Ministry of Finance, Government of India. In terms of promotion, public sector banks have two options: the merit channel and the normal channel.
|4||Assistant General Manager||Senior||5|
|5||Deputy General Manager||Top||6|
Then comes the promotion to Executive Director and after that the final one i.e. “Chairman and Managing Director”.
The main details about the salary, work profile and promotion for the job of Union Bank of India are discussed in the table above. Download the Entri app to prepare for the 2022 Bank exam.