The promotion process from clerk to PO is one of the most important queries students often ask. After being selected as a clerk in PSU Bank, candidates search for a way to get promoted to officer level so that they will enjoy the benefits availed by an officer.
In this article, you will get to know the exact process of promotion from clerk to an officer in the PSU banks along with the benefits availed by him/her after being promoted.
Eligibility Criteria for Promotion to Officer Cadre in Public Sector Banks
1. Candidates who want to advance from Clerical to Officer in a Public Sector Bank must apply for the promotion test and sit for the examination.
2. Candidates working as Clerks in any nationalized bank in the country must serve for at least two years to be eligible for promotion to Officer Cadre.
3. In general, there are 2 ways by which clerks can get promoted to officer level in PSU Banks:-
(I) Normal/Seniority channel
(II) Merit/Fast Track channel
Individual candidates are assigned to one of these two channels based on their performance and expertise in the banking industry.
(II) On the basis of merit/rapid track Channel: 2 years minimum work as a clerk with a JAIIB or CAIIB diploma from the Indian Institute of Banking and Finance (IIBF) is required.
Benefits on Clerical to Officer Promotion:
We have mentioned below the major benefits of Clerical to Officer Promotion-
1. A clerical employee becomes a confirmed officer on the first day of the promotion.
2. Probation period of 1 year is required.
3. Candidates who pass the JAIIB and CAIIB exams will receive three increments (1 for JAIIB and 2 for CAIIB), culminating in a pay raise.
4. Passing these exams also ensures that the candidates can be posted in their home state.
5. From the first day of their promotion, they are eligible for all officer cadre perks, as well as some benefits after their Probation Period is over.
6. Most of the individuals promoted from clerical to officer positions will be getting posted in their home state.
There are seven officer cadre scales after becoming Probationary Officers (PO):
- Scale 1 – Officer / Assistant Manager
- Scale 2 – Manager
- Scale 3 – Senior Manager
- Scale 4 – Chief Manager
- Scale 5 – Asst. General Manager
- Scale 6 – Deputy General Manager
- Scale 7 – General Manager.
Allowances & Perks For Officers:
1. Dearness Allowance (DA)
2. Special Allowance
3. House Rent Allowance (HRA)
4. City Compensatory Allowance (CCA)
After the 11th bi-partite settlement, the in-hand salary of a PSU Bank PO is around 50000 per month.
1. Leased Accommodation: As an alternative to HRA, Bank POs have this choice. The term "official bank lodging" or "bank quarter" refers to leased housing offered by banks in certain places. This amount will be paid directly to the property owner that you have leased and is not available in cash.
2. Traveling Allowance: While some banks pay a fixed Traveling Allowance, others enable reimbursement of gas expenditures, requiring officers to own a scooter, bike, or automobile in their posting location.
3. Newspaper Reimbursement: A set sum is paid each month to cover the expense of one newspaper.
4. Medical Aid: The majority of banks pay a set annual amount (the updated amount is Rs 8000/- per year).
5. Benefits under New Pension Scheme.
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