Salary in Banking Industry is governed by the Bipartite
Settlement which is signed between Bank Employee’s/Officer’s Trade Union and
Indian Bank’s Association. Here Trade Unions represent the Emplyee’s/Officer’s
trade Union/Association and Indian Bank’s Association represents the Bank
Management and Government.
Bank Salary is subject to revision after every 5th year. Present salary structure in Banking Industry is governed by the 11th Bipartite Settlement/Joint Note which was signed on 11.11.2020 effective from 01.11.2017
(1) Basic Salary Slab:
# |
Scales |
Pay Band |
1 |
Scale I |
36000-1490/7-46430-1740/2-49910-1990/7-63840 |
2 |
Scale II |
48170-1740/1-49910-1990/10-69810 |
3 |
Scale III |
63840-1990/5-73790-2220/2-78230 |
4 |
Scale IV |
76010-2220/4-84890-2500/2-89890 |
5 |
Scale V |
89890-2500/2-94890-2730/2-100350 |
6 |
Scale VI |
104240-2970/4-116120 |
7 |
Scale VII |
116120-3220/4-129000 |
Basic Salary Chart with Scale-I to Scale- VII with Stagnation Increment:
Stage |
JMG-1 |
MMG-2 |
MMG-3 |
SMG-4 |
SMG-5 |
TMG-6 |
TMG-7 |
1 |
36000 |
48170 |
63840 |
76010 |
89890 |
104240 |
116120 |
2 |
37490 |
49910 |
65830 |
78230 |
92390 |
107210 |
119340 |
3 |
38980 |
51900 |
67820 |
80450 |
94890 |
110180 |
122560 |
4 |
40470 |
53860 |
69810 |
82670 |
97620 |
113150 |
125780 |
5 |
41960 |
55880 |
71800 |
84890 |
100350 |
116120 |
129000 |
6 |
43450 |
57870 |
73790 |
87390 |
103320SI |
|
|
7 |
44940 |
59860 |
76010 |
89890 |
|
|
|
8 |
46430 |
61850 |
78230 |
92390SI |
|
|
|
9 |
48170 |
63840 |
80450SI |
95120SI |
|
|
|
10 |
49910 |
65830 |
82670SI |
|
|
|
|
11 |
51900 |
67820 |
84890SI |
|
|
|
|
12 |
53890 |
69810M |
87110SI |
|
|
|
|
13 |
55880 |
71800A |
89610SI |
|
|
|
|
14 |
57870 |
73790A |
92110SI |
|
|
|
|
15 |
59860 |
76010A |
|
|
|
|
|
16 |
61850 |
78230A |
|
|
|
|
|
17 |
63840M |
80450SI |
|
|
|
|
|
18 |
65830A |
82670SI |
|
|
|
|
|
19 |
67820A |
84890SI |
|
|
|
|
|
20 |
69810A |
87110SI |
|
|
|
|
|
21 |
71800SI |
89330SI |
|
|
|
|
|
22 |
73790SI |
|
|
|
|
||
23 |
76010SI |
|
|
|
|
||
24 |
78230SI |
|
|
|
|
||
25 |
80450SI |
|
|
|
|
M= Maximum of Present Scale
SI= Stagnation Increment
A= Annual Increment as per regulation 5(b)
Regulation 5(b)- "Officers in Scale I and Scale II, one year after reaching the maximum in their respective scales, shall be granted further increments including stagnation increments in the next higher scale only as specified under subject to their crossing the efficiency bar as per guidelines of the Government."
Stagnation Increments:
Officers in JM Grade Scale I who have moved to scale of pay for MMG Scale II in terms of Regulation 5(b) after reaching maximum of the higher scale shall be eligible for five stagnation increments for every two completed years of service of which first two shall be ₹1990/- each and next two shall be ₹2220/- each. The fifth stagnation increment of ₹2220/- will be released two years after the receipt of fourth stagnation increment or w.e.f. 01.11.2017 whichever is later.
Officers in MMG Scale II who have moved to scale of pay for MMG Scale III
in terms of Regulation 5(b) after reaching maximum of higher scale shall be
eligible for five stagnation increments. First four stagnation increment of ₹2220/-
will be released after every two completed years of service after reaching
maximum on the higher scale. The fifth stagnation increment of ₹2220/- will be
released two years after the receipt of fourth stagnation increment or w.e.f.
01.11.2017 whichever is later.
Officers in substantive MMG Scale III i.e. those who are recruited in or
promoted to MMG Scale III shall be eligible for six stagnation increments. First
four stagnation increment of ₹2220/- will be released after every two completed
years of service. The fifth stagnation increment of ₹2500/- will be released two
years after the receipt of fourth stagnation increment. The sixth stagnation
increment of ₹2500/- will be released two years after the receipt of fifth
stagnation increment or w.e.f. 01.11.2017 whichever is later.
Officers in SMGS-IV shall be eligible for two stagnation increment of ₹2730/-
each two years after reaching the maximum of scale w.e.f. 01.11.2017.
Officers in SMGS-V shall be eligible for one stagnation increment of ₹2970/- two years after reaching the maximum of scale w.e.f. 01.11.2020.
(2) Dearness Allowance:
For details of DA paid to Clerk and Sub Staff in Bank Please Refer Latest Bank DA Page-Click Here
(3) Special Allowance:
With
the signing of 10th Bipartite Settlement, IBA has introduced an allowance
called Special Allowance which is calculated as a % of basic pay per month. DA
is also payable on Special Allowance. Special Allowance is not eligible
for any retirement benefits.
Scale |
Scale 1,2, 3 |
Scale 4,5 |
Scale 6,7 |
% of Basic |
16.4 |
19 |
20 |
(4) House Rent Allowance:
HRA is paid as a % of basic as per the following limits
# |
Population |
HRA as % of basic for all officers |
1 |
Metro and Major 'A' Class cities |
9.00% |
2 |
Area 1 Cities |
8.00% |
3 |
All other places |
7.00% |
(5) City Compensatory Allowance:
# |
Places |
Limit |
1 |
Places in area 1 & Goa |
₹1400/- p.m. |
2 |
Places with population of 5lakhs+ and State Capitals & Chandigarh, Pondicherry, Port Blair |
₹1150/- p.m. |
(6) Location Allowance for Non- CCA Centers:
W.e.f. 01.11.2017 a fixed allowance of ₹700/- p.m. is payable to all officers posted in areas other than that are eligible for CCA. This allowance is not eligible for DA,Pension etc.
(7) Medical Aid:
- For Scale 1 to Scale 3- ₹10300/- p.a.
- For Scale 4 to Scale 7- ₹12300/-p.a.
(8) Learning Allowance:
W.e.f. 01.11.2017 Officers shall be paid Learning Allowance of ₹600/- together with applicable DA thereon
(9) Fixed Personal Pay:
Fixed personal pay is payable to the employees who were in Bank's service as on 01.11.1993. It is payable to the officers who are provided with Bank's accommodation. It is payable after reaching maximum in his pay scale as per the following limit:
Increment Component |
DA as on 1.11.2017 |
Total F.P.P. payable (A+B) |
(A) |
(B) |
(C) |
1990 |
53 |
2043 |
2220 |
59 |
2279 |
2500 |
66 |
2566 |
2730 |
73 |
2803 |
2970 |
79 |
3049 |
3220 |
86 |
3306 |
(10) Recovery of House/Furniture Rent:
- House rent recovery shall be @ 0.50 % of the first stage of
the scale of pay in which the officer is placed or the standard rent for
the accommodation, whichever is less.
- Furniture rent recovery shall be @ 0.10% of the first stage of the scale of pay in which the officer is placed.
(11) Halting Allowance:
Scales of Officers |
Metro |
Major ‘A’ Class Cities |
Area I |
Other Places |
Scale VI & above |
2700 |
1950 |
1650 |
1425 |
Scale IV & V above |
2250 |
1950 |
1650 |
1425 |
Scale I/II/III |
1950 |
1650 |
1425 |
1200 |
(12) Lodging Expenses:
Scales of Officers |
Major ‘A’ Class Cities |
Area I |
Other Places |
Scale VI & VII |
6800 |
3400 |
3000 |
Scale VI & V |
4000 |
2400 |
2000 |
Scale II & III |
2400 |
1600 |
1200 |
Scale I |
1600 |
1200 |
800 |
(13) Professional Qualification Pay (PQP):
Those who have passed only CAIIB – Part I / JAIIB
- ₹1020/- p.m. one year after reaching top of the scale.
Those who have passed both parts of CAIIB –
- ₹1020/- p.m. one year after reaching top of the scale.
- ₹2550/- p.m. two years after reaching top of the scale.
(14) Leave Travel Concession (LTC):
During each block of 4 years, an officer shall be eligible for leave travel concession for travel to his place of domicile once in each block of two years. Alternatively, he may travel in one block of two years to his place of domicile and in another block of two years to any place in India by the shortest route. For definition of Family for the purpose of this scheme please Click Here . Now w.e.f. 20.10.2023, IBA has approved both husband and wife to avail LFC even if they are working in the same Bank. For detailed circular please Click Here
(15) Encashment of LTC:
Scale |
Eligibility class by train (not Rajdhani) |
Encashment per Unit for 2/4 years Block (Other than Home town Travel) |
Scale I to III |
II AC |
4500km for one way |
Scale IV and above |
I AC |
5500 for one way |
30 days PL can also be encashed in a block of 4 years
(16) Mode of Travel:
Scale |
Mode of Travel |
Scale 1 |
1st class or AC II tier sleeper or by air (economy class, if permitted by competent authority) |
Scale 2,3 |
1st class or AC II tier sleeper or by air (economy class) if distance is beyond 1000 kms |
Scale 4,5,6,7 |
AC 1st Class or by Air (economy class) |
(17) Deputation Allowance:
Place |
Rate and Limit |
Outside the Bank |
7.75% of pay - Max.6000/- pm |
Same Place or Training Centers |
4.00% of Pay- Max.3000/- pm |
(18) Compensation on Transfer:
Scale |
Limit |
Scale IV and above |
30,000/- |
Scale I, II and III |
25,000/- |
(19) Hill & Fuel Allowance:
# |
Places |
Rate and Limit |
1 |
Places with an altitude of 1000 meters and above but less than 1500 meters and Mercara Town |
2% of Pay, maximum 1125/- pm |
2 |
Places with an altitude of 1500 meters and above but less than 3000 meters |
2.5% of Pay, maximum 1500/- pm |
3 |
Places with an altitude of 3000 meters and above |
5% of Pay, maximum 3000/- pm |
(20) Closing Allowance:
A closing allowance of ₹250/- is payable to all officers except those working in administrative offices. This may vary from bank to bank.
(21) Mid Academic Year Transfer Allowance:
Mid Academic Year Transfer Allowance shall be payable at ₹1650/- p.m. This may vary from bank to bank.
(22) Project Area Allowance:
Project Areas Falling in Group A |
₹600/- |
Project Areas Falling in Group B |
₹525/- |
(23) Split Duty Allowance:
Split Duty allowance shall be a payable at ₹300/-
(24) Travel by own Car:
Any travel for Bank work which is not covered under any other scheme will be paid as below:
- Cars (1000cc and above) - ₹9.00/km
- Cars (less than 1000cc)- ₹7.00/km
- M/cycle, Scooter- ₹4.50/km
- Moped- ₹3.00/km
(25) Officiating Allowance:
Payable @6% on performing duties attached to higher post (Scale), provided that officiating is minimum 7 days a month or 7 days continuous period. It is also eligible for PF.
(26) Conveyance Allowance to Blind and Ortho Handicapped:
Payable at @5% of Basic, max. ₹400-/ p.m.