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Process of Promotion from Clerk to Officer Cadre in PSU Banks

Every year thousands of candidates joins as a Bank Clerk at various public sector & private sector banks with an aspiration of brighter career & a secure future. Many of the candidates join as a clerk with higher degrees such as management & Engineering but not satisfied with the post of clerk.

So, today we are here with a process in which you all will get to know about how can one become an officer from a clerk in banks.

What is the Eligibility Criteria for the Promotion of Clerk to Officer Cadre in PSU Banks?

Candidates who are working as a Clerk in any nationalised 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.
All the candidates who wish to get promotion from Clerical to Officer in Public Sector Banks need to apply for the promotion test and appeared for examination as well.
There are two channels for clerical to Officer Promotion :-

Normal/Seniority channel: Under this the employee has to qualify written exam and on the basis of his experience and seniority in the services of bank he can be selected as Officer. In this channel process no JAIIB and CAIIB diploma is compulsory.

Merit/ Fast track Channel: Under this the candidates has 2 year minimum service as a clerk with a JAIIB and CAIIB diploma conducted by Indian Institute of Banking and Finance (IIBF) is must with graduate/post graduate degree.

What are the Benefits on Clerical to Officer Promotion?

Mostly employees after promotion from clerical to officer retained in home state for posting.

Clerical employee becomes a confirmed employee as officer from first day of promotion.

Need to serve Probation period only for 1 year as a PO.

Eligible to get all officer cadre benefits from first Day of promotion and some benefits after completing their Probation Period.

Eligible for Loans for higher quantum like Staff Housing Loan for Officer is 50 Lakhs as compared to Clerks 30 lakhs and sub staff 20 Lakhs in Indian Banks.

Upon clearing JAIIB and CAIIB the candidates could get 3 increments (1 for JAIIB and 2 for CAIIB) and consequently their salary would be on the rise as well.

Passing these examinations also allows the candidates to secure the home state retaining power after they get promoted.

What are the allowances & Perks offered to an Officer?

Special Allowance: In the latest revision, a special allowance has been added to the salary structure of Bank PO. And it is 7.75% of the Basic Pay.

Dearness Allowance (DA): In Banks, DA is revised quarterly and is based on the CPI data as revealed by Government of India. The last Revised DA for the quarter of November and December, 2015 and January, 2016 is 39.80% of the Basic Pay.Since it depends on CPI, DA can go up with higher Inflation and vice versa.

City Compensatory Allowance (CCA): This also depends on the place of posting and can be either 4% or 3 % or 0%.

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.

Leased Accommodation: This facility is available to Bank PO in place of HRA. At some places, banks provide Official Bank Accommodation/Bank Quarter as leased accommodation. This amount is not available as cash component and will directly go to the house owner – you have got leased.

Traveling Allowance:Few banks provide fixed Traveling Allowance whereas others allow reimbursement of petrol bills i.e. officer must own scooter, bike/ car at the place of posting.

Newspaper Reimbursement:A fixed monthly amount is paid towards the cost of one newspaper.

Medical Aid:A fixed annual amount is paid by most of the banks (Revised amount is Rs 8000/- p.a.)

Benefits under New Pension Scheme.

Hence the total Salary (without HRA) of Bank PO becomes Rs. 35,700 – 36,570. While considering the HRA into account, it becomes Rs. 37,360 -38,700.

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