Every year IBPS, SBI, and other Banks conduct many exams for the recruitment of clerks. Thousands of candidates join as Bank clerks every year at various public sector banks. Often candidates go into a zone of big confusion on what is the process of promotion of a clerk to officer cadre in PSU banks.
To demystify all the related doubts, here we are with a detailed article on the promotion process of clerical cadre to officer cadre in the PSU Banks after being selected through IBPS Clerk, SBI Clerk, etc. Let's discuss the entire process and required criteria on how a clerk is promoted to officer cadre in PSU banks.
Eligibility Criteria for the Promotion of Clerk to Officer Cadre in PSU Banks
1. All the candidates who wish to get a promotion from Clerical to Officer in Public Sector Banks need to apply for the promotion test and appeared for examination as well.
2. Candidates who are working as Clerk in any nationalized bank across the country would have to undergo their service for at least a period of two years in order to be eligible for promotion to Officer Cadre.
3. There are two channels for clerical to Officer PROMOTION:-
(I) Normal/Seniority channel
(II) Merit/Fast track channel
Individual candidates have to go through these 2 channels depending on their performance and experience in banking services.
(I) Under the Normal/Seniority route, an employee must pass a written exam and be selected as an Officer based on his experience and seniority in the bank's services. There are no JAIIB or CAIIB diplomas required for this channelling process.
(II) On the basis of merit/fast track Channel: With a graduate/post-graduate degree, 2 years minimum experience as a clerk with a JAIIB or CAIIB diploma from the Indian Institute of Banking and Finance (IIBF) is required.
Benefits of Clerical to Officer Promotion
1. From the first day of the promotion, a clerical employee becomes a confirmed officer.
2. Only one year of probation as a PO is required.
3. Candidates who pass JAIIB and CAIIB will receive three increments (1 for JAIIB and 2 for CAIIB), resulting in an increase in their salary.
4. Passing these exams also ensures that the candidate will have home state retention power after they are promoted.
5. Eligible for all officer cadre benefits from the first day of the promotion, as well as some benefits when their Probation Period is completed.
6. The majority of employees promoted from clerical to an officer are stationed in their native state.
7. Eligible for higher-value loans, such as a Staff Housing Loan of 50 lakhs for officers vs 30 lakhs for clerks and 20 lakhs for subordinates at Indian Bank.
Allowances & Perks for Officers
1. Dearness Allowance (DA): In banks, DA is reviewed quarterly and is based on the Government of India's CPI data.
Because it is based on the CPI, DA might rise in response to greater inflation and vice versa.
2. Special Allowance: A special allowance has been added to the Bank PO compensation structure in the most recent revision. It's also 7.75 percent of basic pay.
3. House Rent Allowance (HRA): This varies according to Bank PO’s place of posting and can be 9.0% or 8.0% or 7.0% depending upon metros, big cities, and other locations.
4. City Compensatory Allowance (CCA): This varies depending on the location of employment and might range from 4% to 3% to 0%.
Hence the total Salary (without HRA) of Bank PO after 11th Bipartite settlement becomes approximately Rs. 50000. While considering the HRA into account, it becomes approximately Rs. 52000.
1. Leased Accommodation: Bank POs can use this facility instead of HRA. Official Bank Lodging/Bank Quarter is leased accommodation provided by banks in specific locations. This sum is not available in cash and will be paid directly to the property owner That you have leased.
2. Traveling Allowance: While some banks pay a fixed Traveling Allowance, others allow reimbursement of petrol bills, requiring officers to own scooters, bikes, or cars in their posting location.
3. Newspaper Reimbursement: A set sum is provided each month to cover the expense of one newspaper.
4. Medical Aid: Most banks pay a predetermined annual amount (the revised amount is Rs 8000/- per annum).
5. The New Pension Scheme's Benefits
Other Important Links:
|IBPS Clerk Notification 2021||IBPS Clerk Apply Online|
|IBPS Clerk Vacancy State Wise||IBPS Clerk Salary|
|IBPS Clerk Syllabus PDF||IBPS Clerk Exam Pattern|
|IBPS Clerk Cut Off||IBPS Clerk Books|
|IBPS Clerk Mock Test||IBPS Clerk Online Coaching|
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