Bank of India PO Salary 2023: Check Pay Scale, Allowances, and Job Profile for Credit & IT Officer
Bank of India PO Salary 2023: Bank of India, a leading Public Sector Bank, is conducting the recruitment drive for the selection of eligible Indian citizens against 500 vacancies of Credit Officer and IT Officer in the Bank. The BOI PO 2023 written exam shall be held on 19th March 2023 across different exam centres in the country. Candidates must secure minimum qualifying marks in the written exam for shortlisting for the further selection process.
In this article, we shall look at the Bank of India PO Salary, Pay Scale, Allowances, and Job Profile in detail.
Bank of India PO Recruitment 2023 Calendar
| Bank of India PO 2023 Events |
Important Dates |
| Bank of India Recruitment Notification 2023 |
8th February 2023 |
| Online Application Start Date |
11th February 2023 |
| Online Application End Date |
25th February 2023 |
| Bank of India PO Admit Card 2023 |
March 2023 |
| Bank of India PO Exam Date 2023 |
19th March 2023 |
Bank of India PO Vacancy 2023
There are 350 vacancies for Credit Officers (General Banking stream) and 150 vacancies for IT Officers (Specialist stream) in the Bank of India. Below, we have shared vacancy details for BOI PO 2023:
| Name of the Post |
Stream |
Scale |
Category-wise distribution of vacancies to be declared |
|||||
| SC |
ST |
OBC |
EWS |
GEN |
Total |
|||
| Credit Officer in General Banking stream |
GBO |
JMGS-I |
53 |
30 |
97 |
35 |
135 |
350 |
| IT Officer in Specialist stream |
SPL |
JMGS-I |
23 |
10 |
41 |
13 |
63 |
150 |
| Total |
|
|
76 |
40 |
138 |
48 |
198 |
500 |
Bank of India PO Salary 2023
Candidates appearing for the Bank of India PO 2023 exam must familiarize themselves with the latest Pay Scale. Candidates selected as Credit Officer and IT Officer shall be offered basic pay as mentioned below along with other allowances and benefits as applicable:
| SCALE |
SCALE OF PAY |
| Junior Management Grade Scale – I (JMGS I) |
36000-1490/7-46430-1740/2-49910-1990/7-63840 |
The basic pay of the Bank of India Probationary Officer shall be Rs 36,000. They shall receive an annual increment of Rs 1490 for the next 7 years. The basic pay after 7 years shall be Rs 46430/- followed by an annual increment of Rs 1740 for the next two years and so on.
The In-hand Salary offered shall be Rs 52,000 to Rs 55,000 (inclusive of DA, CCA, HRA, and other allowances). The Gross Salary of BOI PO after deductions comes to around Rs 55,000 to 57,000/-.
Bank of India PO Allowances 2023
In addition to an attractive Pay Scale, candidates shall also enjoy perks and benefits as the Bank of India PO. The list of allowances offered by the Bank includes Dearness Allowance, House Rent Allowance (HRA), Medical Allowance, Transport Allowance, Newspaper Allowance, City Compensatory Allowance (CCA), and Special Allowance.
| Bank of India PO Allowances |
|
| Bank of India PO Basic Pay |
Rs 36,000/- (Increment in 4 stages) |
| House Rent Allowances |
7%-9% of the basic pay |
| Dearness Allowance |
23.87% of the Basic Pay (Varies based on inflation rates) |
| City Compensatory Allowance (CCA) |
3% or 4% (depending on the place of posting) |
| Special Allowance |
7.75% of the basic pay |
Bank of India PO Job Profile 2023
Candidates can check here the roles and responsibilities of Credit Officer (General Banking stream) and IT Officer (Specialist stream) in the JMGS-1 scale.
BOI Credit Officer (General Banking stream) Roles and Responsibilities
- Disbursing of loans and overlooking the entire lending process in the Bank.
- Reviewing and analyzing the loan applications. A Credit Officer can approve or deny the loan application.
- Reviewing and conducting documentation processes to check the creditworthiness of customers applying for loans. A Credit Officer may look into debt to income ratio, CIBIL reports, and the income history of customers to assess creditworthiness.
- Keeping track of NPAs and monitoring the loan repayment progress of customers.
BOI IT Officer (Specialist stream) Roles and Responsibilities
- Developing and implementing IT strategies in line with the business objectives of the Bank.
- Managing the IT infrastructure (hardware, software, and networks) of the Bank.
- Identifying and mitigating IT risks and maintaining the security of the IT systems of the Bank.
- Developing and maintaining relationships with vendors and other stakeholders.
- Providing technical support to other departments within the Bank.
Bank of India PO Syllabus 2023: Check Subject-wise Topics & Latest Exam Pattern