State Bank of India (SBI) is the premiere public sector bank of India with over 10000 branches spread over the nation and over 190 foreign branches in the 36 different countries. The SBI conducts recruitment examination from time to time in order to recruit candidates into various clerical, probationary and specialist officer posts. Due to the reputation of being the number one public sector bank in the country, lakhs of students try to get into the banking sector holding hands of SBI. The selection process over the years has become tougher by introducing two step written examination-prelims and mains. The salary of the candidates was quite less a couple of years ago. The scenario changed to some extent with the 10th bipartite settlement coming in last year. The settlement gave the much needed respite to the workers of the bank, who were demanding the settlement for long. Though, the settlement has been done, keeping in mind the benefits of all the shareholders, the SBI clerical salary is much higher than that off the other public sector banks in the country.
Pay Scale of SBI Clerk after 10th Bipartite Settlement
After the 10th bipartite settlement, the pay scale has changed a lot for the candidates who are joining for the first time. Though it might not look huge in numbers, the perks, benefits and the promise of a revision of pay, makes it a lucrative offer to the ones joining the bank. The current basic salary of SBI Clerk is Rs. 11765/-. With DA, HRA and other superannuation benefits the total salary of the clerks presently would be Rs. 20950/- per month. Up to three years of their service, the candidates would get Rs. 665/- as promotion each year till the Basic salary reaches Rs. 13730/- pm. The amount for increment in the basic salary would increase as the years pass by. The gross salary of the candidates often depends on the place of their posting and benefits given to the candidates. The SBI clerk would eligible for the provident fund, gratuity, pension under new pension scheme, medical, leave fare and other facilities as per the rules of the bank. The pay scale for the SBI clerk is 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230-1310/1-31540.
The 10th bipartite settlement has, to some extent, made the salary of the SBI clerk at par with the other clerical salaries given in most of the other clerical posts in government offices and ministries. The provision for fast growth in the banking sector allows the candidates to earn quite a lot as their monthly salary, as they grew old with experience in the bank. The pay scale of SBI is better than the other public sector banks in the country by a swift margin and allows multiple benefits to its employee, in order to keep them loyal towards the organization.