Revised Salary of Bank Employees:
Here we provide you the Revised Salary of Bank Employees. The Indian Banks Association (IBA) has decided to hike the salary of bank employees by 15%. We have added complete details about this bank wage revision latest news 2020. Read the full article to know about the Revised Salary of Bank Employees 2020.
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IBA and Bank Union Finalises 15% Hike:
The Bank officers wage revision is pending since 2017. Now the IBA and the workmen union has finalized the officer and workmen wage settlement.
Clerks Revised Salary:
The Revised Salary of Bank Employees in clerical and sub staff cadres are,
- The clerks and subordinate staff will get the same basic pay and HRA, irrespective of the work locations.
- Basic pay of clerks – Rs.17900 to 65830
- Basic pay of sub staffs – Rs.14500 to 37145
- HRA – 10.25%
- Approximate gross salary of clerks at the starting scale – Rs.31000
Officers Revised Salary:
The Revised Salary of Bank Employees in officer cadres are,
- Basic Pay range of officers – Rs.36000 to 129000
- 1st scale officers basic pay – Rs.36000 to 63840 (16 annual increments)
- 2nd scale officers basic pay – Rs.48170 to 69810 (11 annual increments)
- 3rd scale officers basic pay – Rs.63840 to 78230 (7 annual increments)
- 4th scale officers basic pay – Rs.76010 to 89890 (6 annual increments)
- 5th scale officers basic pay – Rs.89890 to 100350 (4 annual increments)
- 6th scale officers basic pay – Rs.104040 to 116000 (4 annual increments)
- 7th scale officers basic pay – Rs.116120 to 129000 (4 annual increments)
- HRA – 9% or 8% or 7% (depends upon the work location)
- CCA – Rs.1400 (higher cities) and Rs.1150 (lower cities)
- Approximate gross salary of Officers at the starting scale – Rs.50000
This settlement is applicable to 12 Public Sector Banks and 11 Private Sector Banks.
Private Sector Banks List:
The Private sector banks that come under the new pay scale of bank employees are,
- Federal Bank
- Karnataka Bank
- JK bank
- South Indian Bank
- KVB
- RBL bank
- Nainital bank
- KMB
- IDBI
- Dhanalakshmi bank
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