SIDBI Grade A Salary 2022: In-hand Salary Structure, Job Profile

SIDBI Grade A Salary 2022 Highlights

The person working as a SIDBI Assistant Manager earns a higher salary as compared to a private bank manager along with allowances as well. If you are aiming for SIDBI Grade A this year, then head on to navigate through the highlights of the SIDBI Salary 2022. 

• SIDBI Grade A salary is comparatively higher than any other private banking institution.
• The starting salary of SIDBI Grade A may also differ depending on the place of posting. Usually, employees posted in metropolitan cities get higher pay.
• With the designation, lucrative salary, an employee also gets some other benefits like PF, Medical aid, LTC, etc.

Let us now give you complete details for the SIDBI Grade A Salary 2022 here, including the basic pay, salary components, in-hand salary, and perks of this reputed job.

SIDBI Grade A Annual Package

As per the official notification of SIDBI, the total compensation per annum for SIDBI Grade A would be a minimum of 4.92 Lakhs and a maximum of 8.40 Lakhs depending on the place of posting and other factors.

SIDBI Grade A Salary Structure and Perks Offered

Some of the major perks offered by SIDBI Grade A have been listed in the table below. Check the complete SIDBI Assistant Manager salary structure.

SIDBI Assistant Manager Grade A Basic Pay 2022	₹ 70,000/- approx (with 4 advance increments) (in a scale of 28150 – 1550 (4) – 34350 – 1750 (7) – 46600 -EB – 1750 (4) – 53600 – 2000 (1) – 55600 (17 years))
Dearness Allowance	This is revised every quarter and is calculated based on CPI (Consumer Price Index). Currently, DA is 46.9% of the basic pay.
City Compensatory Allowance (CCA)	This varies with the place of posting at 4% or 3%.
Leased House Accommodation	SIDBI  may take a house on lease, the amount of which varies with posting between a minimum of. ₹ 8000/- (in rural areas) and a maximum of ₹ 29500/- (in Mumbai).
Furniture Allowance	₹ 120000/- for the purchase of furniture
Medical Insurance	100% medical coverage for SBI employees and 75% for their family members
Travelling Allowance	For official travels, reimbursement of AC 2-tier fare is provided
Petrol	50 Lts (For 2 wheelers) Or 55 Lts (For 4 Wheeler) Or Approx. ₹ 1100-1250 if you don’t have 2/4 wheelers (conveyance allowance).

SIDBI Grade A In-Hand Salary

The in-hand salary of the SIDBI Assistant Manager after making all the certain deductions gets 70,000/- (approx). This amount may differ from the place of posting of the employee. As an employee posted in the cities like Mumbai, Delhi, Kolkata gets comparatively a bit more amount. If you have any doubts regarding the exam, read the SIDBI Grade A Exam FAQs, and find all the answers. We have also attached the SIDBI Grade A Salary slip to make you understand easily.

SIDBI Grade A Job Profile 2022

Let us know about the role of the SIDBI Grade A officer 2022 employees:

• After joining as SIDBI Grade A employee is subject to a probation period of 2 years which can be extended up to 4 years. In this period, they learn more about the functioning of the banks and duties related to their profile.
• Common tasks of a SIDBI Assistant Manager may include – Gaining practical knowledge of various banking aspects, Customer Services (which may range from passbook printing to account opening and much more), supervision of clerical work, Loan Processing, etc.
• Training to the SIDBI Assistant Manager is provided in various fields like – Retail (Personal) Banking, Advances, Rural Banking (Agriculture training), etc. During their probation period.
• After the selection, the SIDBI Grade A officer is directly sent to the branch allotted after meeting the RM of the circle. After reporting to the branch manager he learns the various aspects of daily banking profile.
• During the period of probation, specialized training is also given to the employees.
• After the probation period, SIDBI Grade A officer needs to undergo a screening procedure, qualifying which he/she will be confirmed as Officer Middle Management Grade Scale-II.

The job profile of the SIDBI Assistant Manager is highly versatile and may demand the officer to engage in clerical work according to the needs. All this should be taken in good spirits and must be seen as a great way to learn new things.

Eventually, when you will have to take up a managerial profile, you can’t expect to pull it off properly unless you have a clear understanding of how things are done at the root level. So, think of it as the first step of the ladder which is essential to get to the next level.

SIDBI Grade A Career Growth & Promotion

SIDBI Grade A offers immense growth opportunities. The promotion cycle in SIDBI is pretty fast and one can even reach up to the level of chairman of the group if you are sincere and dedicated towards your work. 

Promotions in SIDBI Grade A follow the undermentioned path –

• Grade A Officer
• Grade B Officer
• Private Secretary in Grade B
• Grade C Officer
• Grade D Officer
• Grade E Officer
• Grade F Officer
• Executive Director
• The promotion policy of SIDBI provides an opportunity for the meritorious and exceptionally brilliant officers to reach the Top Management Grade in a reasonably quick time.

Designation Name	Pay Scale
Grade A Officer	28150 – 1550(4) – 34350 – 1750(7) – 46600 -EB – 1750(4) – 53600 – 2000(1) – 55600 (17 years)
Grade B Officer	35150 – 1750(9) – 50900 – EB – 1750(2) – 54400 – 2000(4) – 62400 (16 years)
Private Secretary in Grade B	35150 – 1750(9) – 50900 – EB – 1750(2) -54400 – 2000(4) – 62400 – EB 1200(1) – 63600 -2150(4) – 72200 (21 years)
Grade C Officer	49000 – 1750(3) – 54250 – 1900(2) – 58050 -2000(4) – 66050 – EB – 2000(2) – 70050 – 2150(1) – 72200 (13 years)
Grade D Officer	68500 – 2150(2) – 72800 – 2250(6) – 86300(9 years)
Grade E Officer	72800 – 2250(1) – 75050 – 2400(2) – 79850 – 2500(3) – 87350-3000(5) – 102350 (12 years)
Grade F Officer	101900 – 3000(4) – 113900 (5 years)
Executive Director	120500 – 3500(2) – 127500 (3 years)

There are numerous reasons to join this reputed organization. SIDBI in itself is a huge brand and to be part of such an esteemed organization speaks volumes. So, start your SIDBI Grade A Preparation now!