Saturday, August 29, 2009

"PSU Bank Salary : Lower than their Govt. counterparts.": SBI Staff Association.

Click Here to view the latest salary position of P.O. and Clerks
State Bank of India, it appears, will continue to struggle with the problem of staff shortage unless the remuneration of its employees is significantly stepped up.
According to the State Bank of India Staff Association, Bengal Circle, more than 13,500 employees of the bank retired in 2008-09, and though the bank recruited 33,000 people during the year, an estimated 40 per cent of the new recruits left on account of the poor pay packets.
The bank’s business is growing and with it the expectations of its customers about service quality. To render satisfactory customer service, the bank will need a motivated workforce. But the association apprehends it will not be possible to attract good people and thus build a motivated workforce at the current levels of remuneration. The problem will assume critical proportions in the next four years when a large chunk of the existing employees retire.
Contrary to the general perception, the remuneration of bank employees is poor vis-À-vis that of Central and State Government employees. As a spokesman for the association points out, the total remuneration of a clerk based in a metro and working in the lowest grade in SBI is Rs 7,919 per month, which is to rise to Rs 9,300 per month as per the Indian Banks’ Association’s recent offer of a 17.5 per cent wage hike. This compares poorly with the remuneration of a lower division clerk in the West Bengal Government, whose starting monthly income is Rs 11,880 and that of an upper division clerk in the Central Government, Rs 17,150.
A probationary officer in SBI starts with a salary of Rs 19,181 per month and in other banks Rs 16,146, says the spokesman. Side by side, under the State’s School Service Commission, a teacher with a Master’s degree starts at a monthly salary of Rs 21,000, a teacher with an Honours degree with Rs 19,000, and a teacher with a just pass degree at Rs 16,800. A West Bengal Civil Service Grade ‘A’ Officer starts with a salary of Rs 27,810, he adds.
Source : An article published in "The Hindu Business Line" on 14.08.2009

66 comments:

mohan lal said...

I read in a business magazine that Shri O.P. Bhatt, Chairman joined SBI as Probationary Officer in 1972 as the salary of Probationary Officer was 1.5 times the salary of IAS officer. What is the present position?

Can Banks expect intelligent persons like Shri Bhatt to join the Banking Industry, with the proposed salary structure. In future, the Banks shall be manned by averagers and the results will also be average, naturally. Do not expect miracles. Be ready. It is for IBA/ Government of India to ponder over.

mohan

BALAN said...

LET THE GOVERNMENT FIX THE SALARY OF THE GENERAL MANAGERS OF NATIONALISED BANKS ON PAR WITH THE CABINET SECRETARY IN A RUNNING SCALE. THE LEVEL OF DEPUTY GENERAL MANAGERS CAN BE EQUATED WITH THE SECRETARY AGM WITH THE PROFESSOR IN UGC SCALES THE STARTING SALARY FOR THE SCALE I OFFICER CAN BE ON PAR WITH IAS OFFICER WITH GRADE PAY AND OTHER THINGS. THEN AFTER FIXING THESE SCALES LET THEM ARRIVE THE SCALES FOR AWARD STAFF, THE PERCRNTAGE INCREASE WILL BE DEFINITELY MORE THAN 40% LET THE GOVT FIX THE SETTLEMENT PEREOD FROM 01NOV 2007 TO 31 DEC 2015. IF THE GOVT/IBA MISS THIS OPPURTUNITYTO RECTIFY THE ANOMALY IN THE BANKING INDUSTRY EVEN GOD WILL NOT SAVE THE INDUSTRY FROM BECOMING SICK AND INEFFICIENT AND CENTRAL GOVT/IBA ALONE SHOULD TAKE THE RESPONSIBILITY FOR THE SORRY STATE OF AFFAIRS. THE INDUSTRY MAY NOT BE IN A POSITION TO ATTRACT TALENTS .NOT TO SPEAK OF CAMPUS PLACEMENTS . AS THE OLD GENERATION IS RETIRING AT A FASTER RATE , THE GOVT SHOULD CONSIDER THINGS IN THE RIGHT SPIRIT AND CONSIDER BANK EMPLOYEES ALSO LIKE CENTRAL GOVT/ PUBLIC SECTOR EMPLOYEES INSTEAD OF TREATING THEM AS UNTOUCHABLES LET GOD SAVE THE BANKING INDUSTRY /EMPLOYEES FROM THE UNWANTED HARRASMENT IN RESPECT OF PAY REVISION/PENSION OPTION /UPDATION . THESE THINGS WILL GET ABSORBED IN THE PROFITABILITY. WHY THE GOVT WENT OUT OF THE PAY TO PLEASE THE ENTIRE WORK FORCE UNDER ITS CONTOL AT THE COST OF HUGE FISCAL DEFICIT AND SINGLING OUT BANK EMPLOYEES EVEN THOUGH IT CAN COME FROM THE INDUSTRYU ITSELF . WHO IS GOING TO ANSWER . WHO IS GOING TO DECIDE THINGS IN THE CORRECT WAY A MILLION DOLLAR QUESTION WITH NO SOLUTION AS EVEN AFTER NEARLY A MONTH NOBODY BOTHERED ABOUT THE REVISION.

AMITAVA MITRA said...

Dear Balan, Pl think how an IAS officer gets selected first, then compare their salary to bankers. The best merits come in the bureaucracy, so do not even think a mere bank P.O. will be at par with them !!!

BALAN said...

dear amitava mitra,
I dont know where you are working or your line of activity. i am a retired bank officer , during 1979 the government ( same congress govt ) has standardised the scale of pay of bank officers under the name of pillai committee and brought down the salary to the level of central govt officers stating that the nature of work isthe same. scale i officer was equated to class i officer in the 700 starting cale. lecturers were also given the same start of pay. the maximum in the bank scale during 1979 was 3000 whcih they equated to the cabinet secretary . ie the maximum scale for gm was equal to the cabinet secretary pay level, what happened to those logic now. the thing is the successive pay commissions has increased the salaries in a liberalised manner where as bipartite settlements were not yielded the desired increase hence the anomaly. the readers should appreciate the importance of financial sector which is a vibrant sector whose employees also should be taken care of just like other government sectors. govt is doing 100% injustice to the bankmen

SR said...

Salary Difference
Central Govt Employees V/S Bank Employees (in May 2009)

Basic Pay
Grade Pay
DA
HRA
Conv All
CCA
Edu All
Total


Clerk ** - (Central Govt)
5,200.00
1,900.00
1,562.00
2,130.00
1,000.00
0.00
1,000.00
12,792.00

Clerk (Bank)
4,410.00
0.00
2,160.90
661.50
105.00
375.00
0.00
7,712.40

Difference 5,079.60



Officer - (Central Govt)
15,600.00
5,400.00
4,620.00
6,300.00
1,000.00
0.00
1,000.00
33,920.00

JMGS- (Bank)
10,000.00
0.00
4,900.00
1,500.00
0.00
540.00
0.00
16,940.00

Difference 16,980.00



Executives - (Central Govt)
37,400.00
8,700.00
10,142.00
13,830.00
1,000.00
0.00
1,000.00
72,072.00

Executives- (Bank)
20,480.00
0.00
10,035.20
3,072.00
0.00
540.00
0.00
34,127.20

Difference 37,944.80

Ø Salary has been calculated from ENTRY level which will keep on increasing (and also the difference!!).

Ø Salary has been calculated for Metro Cities.

Ø Officer in Bank are scale I to scale III.

Ø Executive in Bank are Scale IV and above.
Ø Education allowance calculated as minimum(For one child while it can be availed for 2).

Ø Difference shows how far behind we are in comparison to Govt Employees.

Ø Executive of Govt are Pay band -Scale 4 officers.

Ø Conveyance All varies from post to post and place to place it has been taken minimum.

Ø **Central Govt LDC has been compared with bank Clerk.

Ø There is automatic switching over to next scale after every 10 year in central Govt.

Ø In bank officer gets lease and petrol allowance which is also not sacrosanct.

SR said...

Salary Difference
Central Govt Employees V/S Bank Employees (in May 2009)

Basic Pay Grade Pay DA HRA Conv All CCA Edu All Total

Clerk ** - (Central Govt)
5,200.00 1,900.00 1,562.00 2,130.00 1,000.00 0.00 1,000.00 12,792.00
Clerk (Bank)
4,410.00 0.00 2,160.90 661.50 105.00 375.00 0.00 7,712.40
Difference 5,079.60

Officer - (Central Govt)
15,600.00 5,400.00 4,620.00 6,300.00 1,000.00 0.00 1,000.00 33,920.00
JMGS- (Bank)
10,000.00 0.00 4,900.00 1,500.00 0.00 540.00 0.00 16,940.00

Difference 16,980.00

Executives - (Central Govt)
37,400.00 8,700.00 10,142.00 13,830.00 1,000.00 0.00 1,000.00 72,072.00
Executives- (Bank)
20,480.00 0.00 10,035.20 3,072.00 0.00 540.00 0.00 34,127.20
Difference 37,944.80

Ø Salary has been calculated from ENTRY level which will keep on increasing (and also the difference!!).
Ø Salary has been calculated for Metro Cities.
Ø Officer in Bank are scale I to scale III.
Ø Executive in Bank are Scale IV and above.
Ø Education allowance calculated as minimum(For one child while it can be availed for 2).
Ø Difference shows how far behind we are in comparison to Govt Employees.
Ø Executive of Govt are Pay band -Scale 4 officers.
Ø Conveyance All varies from post to post and place to place it has been taken minimum.
Ø **Central Govt LDC has been compared with bank Clerk.
Ø There is automatic switching over to next scale after every 10 year in central Govt.

AMITAVA MITRA said...

Thanks for the pay difference chart. In my opinion Bank Scale I/II officers should not be compared with Govt. officers. Merely passing one Dept. Exam make a clerk an officer in the Bank. In the Govt. it is not so easy. There are at least 3 more positions in the hierarchy in Govt. It is not so easy to become a Govt Gazetted officer like the Banking sector. This is to be remembered while making the comparison.

SR said...

Respected Mitra ji,

Most of the POs of the Banks specially SBI are erstwhile officers of Govt department. They joined Bank only due to pay difference at the time of joining which was almost 40% higher than Class -I of Central Government till 1993-94.
Becoming a Probationary Officer in the Bank is not easy as you think. Recruitments are based on all India competion and not on the base of departmental examinations.

This is for your information, please.

AMITAVA MITRA said...

My Dear SR, I know that being a Bank P.O. is tough enough. But do you think it tougher than Civil Service Exam ? Govt. Class I(Direct Recruit)Officers come through this one. If you want to talk about promotee officers, kindly consider Bank officers who are promoted from Clerk after just passing one dept. exam. This is only for your information.

Ajay said...

Dear Mr. Mohan Lal and other senior members from this Forum, Well i have some query regarding banking sector, and as you people are very senior to me in age and experience i need your advice.
What is the salary of a bank PO and what about the allowances and incentives.Joining as scale-1 how much rank we can go in 10 years? I am a software engineer and currently getting around 30K monthly salary and my current project(Microsoft) is a very long term project, so there is stability in my position for next few years. I have to appear the Syndicate bank PO interview, also I am trying to give IT officer scale- II exams. But dont know anything about bank salary and future growth.
If i stick into my S/W profession then i think every year at least 15-20 % salary hike i can expect for next few years.
Also i think banking sector will not provide me any opportunity of going abroad.So should i really try for banking job as any how they are Govt sector and i can work till retirement with out any tension.

Waiting for any reply to my queries. My name is Ajay and my age is 25.

amit kumar viccy said...

Dear Mr Ajay
Never think to join bank as a po. Its true as mr mitra said that we are not at par with IAs Officer why IAS officer we are at par with LDC ie matriculate lever workforece of centra govt and it's better to think to join psu bank for your training purpose then fly to pvt bank as they valued u as par with other officer in central govt. and If you are not been able to join central govt then think that being a Staff in govt add your wallet so much of money that nothing matter to u. But in bank every body think that you are well paid so you must reduce your salary as happen with our new baipatriot talk

amit kumar viccy said...

Dear Mr Mohan lal
forget about Mr O P Bhut
it's reality that my friend who are join SBI as po left if for State public service commission and even for graudate level clerk specially Assistant level post as they are more attractive in pay perks job condition even under the table income. you all should cheerup that PSU bank have performed well on account of their old employee who join it for better perk and but when they go then we are below the municipal level because lack of good workforce which join other sector certainly not in psu so they have to perform well with lowest level of qualified people and have in survival in between pvt and foreign bank who lass with excellent workforce and regular threat them for good workforce attrition

AMITAVA MITRA said...

It seems from the comments of Mr Shankar that the risk involved in banking sector is much more than a soldier or commando fighting against enemy or terrorists. We appeal to the IBA to provide adequate insurance cover for them.

It is very easy to become an officer from a clerk and more easy to get reverted. As an officer is nothing but a more paid clerk there, same job with extended working hours and without any administrative power. They even can not ask explanation from a sub staff.

The only decision making process by a bank officer is to whom and how much loan is to be sanctioned. If it was rightly done, the amount of bad debt was not so much creating huge NPAs for the banks.

Mr Shyam Singh, kindly note that as bankers are inefficient enough to complete their routine job in the normal working hours, they have to stay overtime. With state of art infrastructure where almost everything is managed by the computers unlike in most of the Govt. departments, they clear only their backlogs and do not serve customers overtime.

Do no please envy the salary of Govt officials. It is true that they are relatively well paid now. But did you ever think about them when they were poorly paid ? No comparison was there then.

None of the persons including Mr Balan could argue against the violent trade union activites of the bankers. Is it a responsible act to call strike 5 to 6 times a year ? Will any of you please answer why ATMs are shut in strikes ? Do you people really think about the urgent need of a patient for cash in those so called “protest”days ?

It was you who protested against computers in banks. {Perhaps in the fear of advanced technology which is yet to be get acquainted with most of your aged officers}.

So be rational. You are not the only group of people who work in the country. In stead of arguing here, do your job properly. You are only to deliver the output as the policies and guidelines are framed by the Govt officers of the Finance ministry. I think your Chairman is also nominated by the Govt. among the Finance Ministry bureaucrats.

And please do not ask me to close my bank account. If people really do so, your existence will be in real trouble and I am sorry friend, foreign banks only hire competent persons.

chandan said...

Referring AMITAVA MITRA September 5, 2009 7:41 PM:

"It is not so easy to become a Govt Gazetted officer like the Banking sector"

On the above said comment, this is to inform that in organised Accounts or Audit departments of GOI, like CAG,CGDA,Railway Accounts,P&T Accounts etc a matriculate LDC can be a Gazetted Officer with a Grade Pay of 4800/- within a span of 5 to 6 years just clearing a mere departmental exam i.e. SOG/SAS etc.The course of this exam is more or less similar to CAIIB-I/II old course for bank employees, that was in vogue just six/seven years back.

So not only Bank officers who are promoted from Clerk after just passing one dept exam, but also some GOI Gazetted officers are promoted from Clerk after just passing one dept exam as stated above.

It is also easy to become a Govt Gazetted officer like the Banking sector,where fast track departmental exams are available.Thanks.

Annada said...

Regarding pay of bank officers:
A bank officer's pay must be the highest.
why?
because a bank officer does the work of each sector of knowledge.
He has to make valuation of the property before any advance like a engineer.
He has to analyse the balance sheet and financial data like a chartered accountant.
He has to find out the intigrity of the person like a good detective.
He has to ensure the end use of fund like a good watch man.
He has to be in good knowledge of laws to catch the defaulter.
and there are so many other things one bank officer is doing.
And none in any sector is doing all these activities at one time.The depth of knowledge of a bank officer is not at all comparable with any employee of any stream.

Mitul said...

One of the loss making and worst service provider in their segment BSNL,has got a fitment benefit at the rate of 30%.
source-http://bsnleuchq.com/wage%20issues.pdf
Chandan sir And Balan Sir ur comments are appreciable.

Rakesh Kumar said...

Dear Mitul ji

I have earlier pointed out about the inefficiencies and under hand dealings of our union leaders which has resulted in this grim position for us. We have to accept it as they have already signed a MOU for 17.5% revision and the total cost cannot go beyond this. Unions have only started SBI/ Non SBI differences to hide thier underhand dealings. Now Mr CHV and JS will say that they cannot achieve more because of negative attitude of G Nadaf and Nadaf will say that they cannot get more because of MR CHV and MR JS. In the meantime all 3 of them have got good bargain from IBA. Long live UFBU! Long Live AIBOC! learn from BSNL ( loss making PSU), compare what they have achieved under present health of their organisationa and what we have in our industry . What is to be finalised on outsourcing.

Congratulations to UFBU or UFBNOA ( idiotic concept), AIBOC, for historic and best ever wage revision.

chandan said...

Referring Mitul 31, 2010 10:23 PM:


Dear Mr Mitul,

Little knowledge is quite dangerous. For your information BSNL earned a profit to the tune of more than 7000 crores,next to ONGC in profit among PSUs, when they got the revised salary in case of officers. So naturally revision of Group C & Group D follow the suit, though the same has been settled recently.

In India all govt & govt related services are more or less the worst. Our Parliament is one of them. Then what to do? Shall we throw out our parliament into Indian Ocean? Reform, the very word I have been hearing from my childhood and no more interested to hear it again and again. Worst or Best in matter of service is a very relative term in a country like ours with such a huge population, that may touch 200 crores in 2050 without minimum basic amenities.

Thanks.

chandan said...

Referring Annada 31, 2010 9:15 PM:


Dear Annada Sir,

You told the half story. Other roll of a manager/ officer in ADVANCES you must express, in order to let the world know,how intelligent & diligent are our jewels of this industry.

Thanks.

Sandeep said...

Hi all my name is Sandeep and working as Bank PO currently. I just read the comment of some persons who justify the high income of even clerks in govt. sector as compared to income of Bank PO's.
I have worked in the govt sector (Ministry of I&B) on the contract basis for 6 months.
These (Govt. employees)are the persons who hardly work for 2-3 hour a day.They come in office at 10:30 when the office timing is 9:30.
As far as education is concerned clerk eligibility is 12th pass. So it is ridiculous to compare a officer in Bank with a clerk in Govt. sector. there is no point giving same salary to both persons.

Officer selection exam is much tougher exam than any clerical exam.

As far as competition is concerned everybody wants easy money so more more people wants to go in govt. job thanx to 6th pay comms.

chandan said...

Referring Sandeep 28, 2010 8:26 PM:

Dear Mr Sandeep,

Contractual job can't be compared with a regular job either in Government or Public Sector and I feel you are also much aware of that. I also find in last SBI 11000 Clerical job, a number of CRE (Contractual Executive/ Officer) of the same bank have appeared in this clerical examination, as because this clerical one is a regular job. So far my knowledge and experience is concerned, only in case of Doctors(Medicine & Surgery etc.) with good knowledge on his or her profession this calculation differs.

I don't know who gives the authority to bankers to criticise the GOI Officers & Employees. GOI employees are not getting their salary from banks' coffer. Whether they work for an hour or two etc. is the business of Government to look after ,not bankers or bank management.

Bank PO question is certainly tougher than GOI examinations, but it does not mean creams are joining in banks now-a-days. The cut-off percentage in Bank PO is much lower than GOI exams like SSC etc. Talents don't stick to banks now-a-days. That's why some banks like PNB etc. already introduced contract bond amounting around one lakh for a three years period on joining of PO. Unions are also mum on this type development.

More over I feel Tax-Asst of SSC is presently better than a Nationalised Bank PO on over all respect. The matrimonial value of a Bank PO drastically has been reduced in society after sixth cpc and 17.5% increase in Ninth BPS.

More over those who are involved in loans & advances in banks, right from field officer to branch manager and their next higher authorities, many of them are corrupt equally like many government offices and only a few of them are either really honest or stick to honesty due to several fear psychosis.

All these observations are from my eight years stay in Government departments and seventeen years completion in a nationalised bank.

Thanks.

Sandeep said...

Dear Mr. Chandan,

Perhaps you got me wrong. I am totally agree with you that it is Govt. not Banks who pay for the salary of employees.

My point is that equally qualified employees having almost same work nature should be paid equal everywhere.

The nature of work for clerical post is almost same in all department be it a govt. sector or a Banking sector. Same can be said for the post of an officer.

Now as topic of salary is concerned, salary of a clerk in govt job and salary of an officer in Bank is almost same. So can you please justify why a Bank officer should get the same salary as is provided to a clerk in govt. sector.

Topic of corruption should not be raised here as you yourself agree with the point that it is everywhere. Moreover it more of related to an individual rather than to a department or sector.

I hope when you reply to my post you will take care of more relevant point like educational qualification, nature of work and selection procedure for a job.

And last but not least I am NOT SAYING that salary of Govt. employees should be reduced. What I am trying to say that bank employees also deserve a pay hike as any other employee in any other govt. sector and it will not make a hole in the pocket of any govt. employee.

Thank you.

Kundan said...

Referring Chandan Feb 28,11.16 P.M.
I strongly object ro the sweeping comments like "More over those who are involved in loans & advances in banks, right from field officer to branch manager and their next higher authorities, many of them are corrupt equally like many government offices and only a few of them are either really honest or stick to honesty due to several fear psychosis." made by any one. It may be your personal experience or you may be in an institution(read bank) like this, but no one gives you authority to make such derogatory remarks about a part of banker community. My personal feeling is that bankers are more or less honest, except for there may be a few exceptions like the one around you. Regards.

Mitul said...

Mr. Chandan your knowledge regarding the banking and other sectors could be appreciated but several times you lost the control over the actual facts as in case of BSNL you just gave a nonsense data that BSNL is second highest profit making organization of 7000 crores after the ONGC and you also said that most of bankers at higher level who are passing loans are corrupt, Sir plz do not state any thing without any facts and figure and do not insult the Banker community by saying such false comment, there is no issue that some of them might be involved in such shame full activity, but majority infact about 99% bankers are very much fair at their job,but its the government officers often caught taking bribes almost in all departments of GOI,like Income tax commissioners,IAS officers IPS officers, they are all doing and even caught often you can refer to news latest by 2-3 days ago where a chief post master at mumbai is being caught taking 2 crores of bribe, and can you give even single such example where executives in bank like AGM,DGM GM or CGM's were ever caught even they are dealing in such industry where such activities shameful activities can easily take place if these EXECUTIVEs OF BANK started doing this...

please do not reply to this comment keeping any thing baised in ur mind againd any one ...Reply with cool head...

Regards...

Mitul said...

Mr. Chandan your knowledge regarding the banking and other sectors could be appreciated but several times you lost the control over the actual facts as in case of BSNL you just gave a nonsense data that BSNL is second highest profit making organization of 7000 crores after the ONGC,

and you also said that most of bankers at higher level who are passing loans are corrupt, Sir plz do not state any thing without any facts and figure and do not insult the Banker community by saying such false comment,

there is no issue that some of them might be involved in such shame full activity, but majority infact about 99% bankers are very much fair at their job,but its the government officers often caught taking bribes almost in all departments of GOI,like Income tax commissioners,IAS officers IPS officers, they are all doing and even caught often you can refer to news latest by 2-3 days ago where a chief post master at mumbai is being caught taking 2 crores of bribe,

Can you give even single such example where executives in bank like AGM,DGM GM or CGM's were ever caught even they are dealing in such industry where such activities shameful activities can easily take place if these EXECUTIVEs OF BANK started doing this...
The actual fact is that the colour u wear at ur eyes same seems the world

please do not reply to this comment keeping any thing biased in ur mind against any one ...Reply with cool head...
and Try to keep stick with the basic and most important issue of 9bps plz...

Regards...

chandan said...

Referring Sandeep 1, 2010 11:54 AM:

Dear Mr Sanddep,

Please note I am not responsible for 17.5% hike. It is so called UFBU. I also wrote to Covener UFBU IN August 2009, but he replied in a different manner. The letter is here for your reference.

----------------------------------------------------------------------------------------
Re: Bank employees wage revision- Nineth BPSThursday, 20 August, 2009 8:35 AM

From: This sender is DomainKeys verified"C H VENKATACHALAM" chv.aibea@gmail.com.

To: "CHANDAN DATTA" chandan79767@yahoo.co.in
Dear,

First of all, please let us know your name, bank, branch and other details and which union you belong to. Because all our unions are expected to inform you the correct position.

Firstly, 17.5% does not include the pension cost of pf optees. That will be an additional 6.05% over 17.5%. Thus total will be 23.55%.

Secondly, if Govt. employees salary is better, IBA/Govt. have offered that package to us. Please let us know whether we can adopted that package for banks.

Banks offer is Rs. 4815 cr + 1260 cr for pension option = 6075 cr per year for 7 lac employees that next wage revision from 2012.

6th Pay commission wage increase cost is Rs. 12,561 cr. per year for 35 lac employees and next wage revision is 2016

Hope you understand

C H VENKATACHALAM
AIBEA



On Thu, Aug 20, 2009 at 12:52 AM, CHANDAN DATTA chandan79767@yahoo.co.in wrote:

"Bank employees wage increase 17.5% including pension load for p.f. optees, pushed the attraction of a bank job far behind than that of a central government job, while compairing stress & strain involved between these two. Definitely unemployed will join in bank for employment, but not brains as it used to be happened in the days of Eighties & Nineties.One should observe that the so called wage hike every five years in banks have been quite minimal during the past decade or so whereas in central govt. there has been a quantum jump this time. As matters stand today the pay package in central govt. is quite high when compared with similar posts in banks. So naturally people who have other choices in hand will not join banks any more. And one should know that in banks now a days people have to toil hard even beyond ofice hours, that too being loaded with heavy risks all the time. In such a condition the present pay package wil not attract talents into banks."

--------------------------------------------------------------------------------

Dear Mr Sanddep,

India still is a developing country and not a developed one. Population is over flood. So always it's not on the education qualification, but many a time it depends on bargaining capacity either in individual or in a group i.e. Union etc. and set up of the contemporary job situation in determine wages. Definitely in PSBs today we are under paid and not only UFBU alone, but also policy of Government responsible for this pity situation. This is also not advisable right now to join in banks for young stars who has any parallel option in Government Sector.

Thanks.

chandan said...

Referring Kundan 1, 2010 12:58 PM:

Dear Sir,

Please cool down. I am not a yesterday's chap in bank service. I have already completed long Seventeen years in this industry. Here I am also not quoting Harsad Meheta's security scam in 1991. Many Bankers were scapegoats due to the system failure in that case. Your Chairman and a MD also lost their jobs at that time. This is not the discussion here.

I am surprised to found many officers just getting ten to fifteen thousand more than a clerk are purchasing houses of forty/fifty lakhs, whose interest portion, if loan availed, will be around thirty thousand+. One more point to aid, Agriculture background officers in PSBs, that you called in your bank RDO, are more prone to this vices than others.

Request not to take it personal. I am also in bank. I observed many thing in this matter that can't be proved in pen & paper, but only can feel. This trend is gradually increasing especially in Government sponsored schemes, where we know there is no real recovery of loan amount.

Thanks.

chandan said...

Referring Mitul 1, 2010 1:40 PM:

Dear Mr Mitul,

BSNL is a profit Making organization. For the year 2006-07, it earned a net profit of 7800 crores and stood next to ONGC in that year among PSUs. Their revised salary was effected from 1st January 2007 and that profit figure had an impact to classify them in A category PSU to get an increase of 30% on BASIC+DA. I mentioned this one. I told, at the time of last wage revision of PSUs BSNL had a profit to the tune of 7000 crores and stood next to ONGC in profit making among PSUs. You reread my that comment. This information was also collected from BSNL employees union's website.


You mentioned "infact about 99% bankers are very much fair at their job"

Where from you get this 99% data?

Refer security scam 1991 and get your answer.

Our citizens are working in bank and 99% definitely are not Mahatma Gandhi.

I am also from your bankers’ community, but it does not mean that I will not call a spade a spade.

Ninth BPS has already gone. I am not interested to cry over spilt milk. You will get your new salary in May-2010.

Now it appears after ninth BPS debacle, the only asset left with we bankers to show ourselves great by finding holes of GOI officers & employees. Request to refrain from it. Please also note "Corruption is as old as Civilisation" And we are the simple human beings.

Thanks.

chandan said...

AN ENCLOSURE TO MY POST March 1, 2010 4:21 PM: for ready reference:


Referring Mitul 31, 2010 10:23 PM:


Dear Mr Mitul,

Little knowledge is quite dangerous. For your information BSNL earned a profit to the tune of more than 7000 crores,next to ONGC in profit among PSUs, when they got the revised salary in case of officers. So naturally revision of Group C & Group D follow the suit, though the same has been settled recently.

In India all govt & govt related services are more or less the worst. Our Parliament is one of them. Then what to do? Shall we throw out our parliament into Indian Ocean? Reform, the very word I have been hearing from my childhood and no more interested to hear it again and again. Worst or Best in matter of service is a very relative term in a country like ours with such a huge population, that may touch 200 crores in 2050 without minimum basic amenities.

Thanks.

January 31, 2010 11:42 PM

Nishant said...

BSNL didnt earn a profit of 7000 crores as stated by chandan sir.... it earned a profit of around 575 crores in 2008-09... and it earned the same as intrest from its cash reserves ( it is sitting on a cash reserve of 25000 crores approx)not from its core operations... and with the advent of more and more private players in the telecom sector it will be seeing more rough days.... yet they have been given a very generous hikes...... As regards the relpy By Mr. Venkatchalam regarding the burden of pay commission ( abt 12156 crores ) ..well Railways alone have provided for 55000 crores for pay commission arrears (check the railway budget )..so the figure provided by Mr. Venkatchalam is a mere eyewash....

chandan said...

Referring Nishant 1, 2010 8:10 PM:

Please read my post carefully. IT IS 2006-07 NOT 2008-09. Read it here again.


"BSNL is a profit Making organization. For the year 2006-07, it earned a net profit of 7800 crores and stood next to ONGC in that year among PSUs"


I am not responsible for any data of C.H.Vencatachalam, the very convener of UFBU.


Please note that I am an erstwhile employee of Department of Telecommunication at its state level Head Office in 1992 prior to joining in bank. I am always in touch with my friends in BSNL in these matters.


Thanks.

Mitul said...

Referring to Mr.Chandan 1 March 6:21pm
Yes Little knowledge is really dangerous...
--------------------------------------------------------------------------BSNL revenue at Rs 35.8 k cr

State-run BSNL declared a net profit of Rs 574.85 crore for the financial year 2008-2009. Total revenue of the company was Rs 35,811.92 crore for the same period. Explaining the poor performance, a statement released by the company stated, “The profit of BSNL declined mainly on account of increase in wages.


Source - The Financial Express...
----------------------------------------------------------------------
Mr.Chandan,if it was 7000 crores in 2007 -08, it left with only odd 500 crores of net profit...which shows a huge loss and need not to tell the financial progress of any organization,

if financial results are the parameters to decide the salary package then as compared to BSNL which fell from so called 7000 crore to 574 crores and still able to pay their employees @30%

then what should be the salary package of BANKERS should it be 175% instead of 17.5% results the what to say SIR JI...

Mr.Chandan as you have said that we are human beings so can make mistakes like taking bribes as you defined that its coming from ancient history,and you have also given an example of year 1991 when chairman and MD's of bank were going to be dismissed, sir that doesn't indicate that they were the culprit...as Metro Man Mr.Shreedharan was ready to resign when an under construction bridge collapsed in National Capital,So was shreedharn was CULPRIT...
Sir many times the people who are not responsible have to take the responsibility or responsibility is thrown to them, whenever any serious Accident occurs...

Sir its like Casting a Slur on Bankers, who are working soo hard and paid nothing as compared to their GOI friends,Being a banker this is well known to you...that how many days in a month you are able to come to your home at 5pm ,as compare to GOI employees, even taking lots of risk, do the primary teachers who hardly take classes and most of the time just sit idle deserve pay more than a Bank PO... or a LDC clerk who ask for bribe to pass the file,deserve that more than P.O.,Sir do you have any example where a bank clerk asks people a commission to deposit their money...
or Bank officer ask for something extra to sign on Bank draft when people goes to the...

If your answer is yes then certainly they dont deserve any thing what they really do...

Regards...

chandan said...

Referring Mitul 1, 2010 8:38 PM:


My dear friend,

Read it carefully. It is 2006-07. Yes it is 2006-07.

Not 2007-08. Not 2007-2008

However the other part of the discussion on bank has been closed. No further discussion on that topic as decided.

You are discussing on BSNL with an erstwhile administrative staff member of that organisation. You are quite unaware of the inner story. BSNL condition would have been better than PSBs, regarding Government control ,in future due to national security reason.

Thanks.

chandan said...

Referring Mitul 1, 2010 1:40 PM:

Mitul said to Chandan:

"Can you give even single such example where executives in bank like AGM,DGM GM or CGM's were ever caught even they are dealing in such industry where such activities shameful activities can easily take place if these EXECUTIVEs OF BANK started doing this..."


Chandan replied to Mitul:

Meet your friends from your esteem banking fraternity.
-----------------------------------------------------------------------------------

Former Indian Bank chairman sentenced to 14 years in prison:


Chennai, April 27 2009 - 9:46 pm ICT by IANS :

A fast track court here Monday sentenced former chairman and managing director of the state-run Indian Bank M. Gopalakrishnan to 14 years imprisonment for fraud. CBI special judge S. Rangarajan found Gopalakrishnan and another senior official K.V. Shanmughasundaram guilty of favouring two Mumbai-based private companies by misrepresenting facts and causing loss of over Rs.100 million to the bank.

“The accused misrepresented facts and awarded letters of credit on forged documents to the arraigned companies causing loss to the bank to the tune of Rs.10 crore,” the judge said in his order.

The court also fined Gopalakrishnan Rs.7 million and his former colleague Rs.8 million.

The cases under sections 120b (conspiracy) and 420 of the Indian Penal Code and Prevention of Corruption Act were registered in 1993.

The court, however, acquitted the company’s officials Yashpal Kumar, V. Rama Rao and Geetha Vohra who were also charged in the cases.

One of the accused P.J. Vohra had died during the trial.

Following the conviction, the former bankers’ bails were cancelled and they were taken to the high security Puzhal Prison, officials said.

Gopalakrishnan is said to be close to several politicians and heads a small caste-based political outfit that supports the ruling DMK.

------------------------------------------------------------------------------------

Thursday, August 21 1997

IOB chairman's arrest ordered

EXPRESS NEWS SERVICE

CHENNAI, Aug 20: Principal Sessions Judge (Central Bureau of Investigation cases) S S P Darwesh has directed the CBI to complete the investigation into a 3.6 million US dollar Indian Bank case and to arrest the remaining accused -- K Subramaniam, the then general manager (credit) (presently chairman, Indian Overseas Bank), S Veeraraghavan, former deputy general manager and N B N Rao, ex-deputy general manager of Indian Bank.

He has also asked for the final report to be filed in the court within three months without fail. The judge gave the direction while rejecting an application from Gopal Pasupathy, a Singapore national, praying for a direction to relax the bail conditions with regard to place of stay.

A case had been registered against the three former Indian Bank officers on the charge that they had entered into a criminal conspiracy with Greenseas Shipping Company (P) limited, Singapore, and in pursuance of the conspiracy, they sanctioned a term loan of 3.6 million US dollars on March 28, 1990, in violation of the banking rules.

The petitioner was a director of the Singapore firm during the relevant period. He was arrested on April 28, 1995 and later released on conditional bail.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.

-----------------------------------------------------------------------------------

Hope I can meet your desire to a satisfactory extend.

Thanks.

chandan said...

For Mitul: (An attachment to earlier post)



Former SBI chief gets 6 months in graft case
--------------------------------------------------------------------------
Tue Dec 9, 2008 03:24 IST

A former managing director of State Bank of India (SBI) was convicted by a special CBI court last week for obtaining shares and debentures of companies for a price lower than the prevalent market price in 1993.
Special judge Ashwini Kumar Deore convicted and sentenced him to six months' imprisonment under Section 11 of the Prevention of Corruption Act last Wednesday.

As per the court record, V Mahadevan, who was 74 when he was convicted, made "pecuniary gains" of over Rs19 lakh at the time.

The anti-corruption wing of the CBI arrested Mahadevan six days before his retirement on June 14, 1993 alleging that he misused his official position and purchased shares and debentures from director's quota from various companies.

Mahadevan was posted as a MD in SBI, Central Mumbai branch from 1987 to 1992 and appointed by the Ministry of Finance, department of economic affairs. He was dismissed from service on June 25, 1993. He was booked under Section 11 of the Act, which speaks of a public servant obtaining a valuable thing without consideration from someone he deals with, among other relevant sections. The prosecution examined 12 witnesses.

While Mahadevan admitted before the court that he bought the shares and debentures at a low price, he argued that none of these were bought by "using his influence." None of the witnesses, he argued, stated that he had shown any favour to any of the companies. He said that he had used his lawfully earned money to purchase these shares and debentures.

The prosecution argued that for proving Section 11 of the Prevention of Corruption Act, the misuse of official position is not necessary. As per law, all that needs to be proved is that the accused "obtained the valuables for no consideration or inadequate consideration.

------------------------------------------------------------------------------

Thanks.

Sandeep said...

hello sir,
i am a postal assistant (class iii clerk) in post office. i work at Mumbai. my present net payment is about 19300.
i am preparing for bank PO and would like to know what would be the payment of bank po after revision of payment
regards,
sandeep

chandan said...

Referring Sandeep 13, 2010 10:23 PM:


After revision it will be around Rs 10000/- more than your present salary in a nationalised bank PO at starting level with all packages.

Thanks.

raju said...

Dear postal Assistant friens,

Pls do not take the advice and quit your present job.you will regret.

the figures given are wrong. Even after 30 yrs of service and in senior level, officers are getting only 38-to40 with maximum scale and metro posting. . Continue in your own post and be happy. Otherwise join some multinational company.

"Far away cows have fair horns"

MADAPPA said...

REFERING TO MR. SANDEEP

PL DO NOT THINK OF BANKING JOB. THERE IS NO CHARM IN BANK. INSTEAD PREPARE/APPEAR FOR JAO. YOU MAY AT LEAST REACH CAO IN YOUR DEPT.ONCE UPON A TIME I TOO WAS IN TELECOM DEPT. NOW I AM REPENTING IN SCALE-II AND WAITING FOR PENSION TO TAKE VRS.SEE MY QUALIFICATION- M.COM, LL.B, CAIIB, FCS,AICWA. DO YOU WANT SUCH TYPE OF HUMILIATION? BANKING SECTOR IS ENTIRELY DIFFERENT. YOU SHOULD KNOW CHAMCHAGIRI OR SHOULD HAVE A GOD FATHER. PROMOTIONS ARE NOT GUARANTED. PROFESSIONAL QUALIFICATION/EXPERTISE ARE NOT RECOGNISED.IF YOU ARE NOT IN GOOD BOOKS OF YOUR BOSSES, YOU MAY HAVE TO RETIRE IN SCALE I/II. WHY TO TAKE RISK?

chandan said...

Referring raju 14, 2010 11:06 AM:


Agree with your view on"Far away cows have fair horns" because I am myself a victim of the same, long seventeen years back.

However I mentioned around Rs 10000/- more than Sandeep's present salary Rs 19300/- including all packages means newspaper to fuel, lease accommodation etc.

CALCULATION
-------------------------------

New Basic proposed: Rs 15000/-

New DA as on Feb 2010 @ around 36%: Rs 5400/-

Lease accommodation at Metro like Mumbai: Rs 6000/-
(Note in SBI it is Rs 11000/- in Metro)

Fuel @ 50 litres petrol per month
for four wheeler if maintained: Rs 2500/-

Newspaper/Entertainment etc Rs 600/-

Benefits from furniture etc per month Rs 1000/-
--------------------------------------------------

Total Approximately: Rs 30500/-


Am I wrong?


Thanks.


NB: All these Rs 30000/- without mental peace as because today in this industry there is no sanctity left.

ajitnaik said...

Mr. Madappa statement is cent percent true.

chandan said...

Referring MADAPPA 14, 2010 12:00 PM:

I was in Telecom in 1992 in circle office(CGMT) recruited through Staff Selection Commission for a small period of six month before joining in Bank. Definitely I agree with your view. But for jobs of Postal, Railway , Survey of India or Armed Force Hqr, one has to think twice as because these jobs are a little bit different than other civilian jobs like AG, Income Tax, Central Secretariats etc. However I thank you for your advice to Sandeep in right way being a senior. Not only JAO but also for Inspector of Post he can go for departmentally. If age permits I advice him to appear CGL-SSC.

Thanks.

MADAPPA said...

15-03-2010 MEETING; A GREAT GAMBLING.

UFBU CLAIMS THE MEETING WITH IBA CHAIRMAN AS FRUITFUL. WHAT IS THE FRUIT, WHY THERE ARE NO DETAILS?

DO OUR LEADERS PRESUME THE MEMBERS TO BE FOOLS? IF A DATE IS GIVEN FOR MEETING WITH IBA THAT ITSELF IS CLAIMED AS FRUITFUL.

LEADERS SHOULD HAVE PRACTICAL APPROACH AND SHOULD THINK TWICE BEFORE DEMANDING. SINCE, THE WAGE REVISION IS ALREADY SIGNED WITH FOOLISH 17.50% LINKING IT WITH PENSION COST AND ASKING FOR MORE AT THIS STAGE WILL DRAG THE SETTLEMENT TO INDEFINITE PERIOD. AT LEAST SETTLE AND SIGN PANSION ISSUE ON 15-03-2010 AND REMAINIG TICKLISH WAGE REVISION ISSUES CAN BE SORTED OUT IN THE NEXT MEETING. ALTERNATIVELY, UFBU SHOLUD DEMAND CONTINOUS MEETING ON DAY TODAY BASIS FOR A WEEK SO THAT THE ISSUES CAN BE SORTED OUT IMMEDIATELY.

AFTER SALARY AND PENSION SETTLEMENT THE LEADER KICK OFF ALL INDIA TOUR CONDUCTING MEETINGS AND CLAIMING VICTORY. SINCE,MEMBERS ARE NOT HAPPY, LEADERS ARE SCEPTICAL ABOUT THE SUCCESS OF THEIR MEETING SINCE, A JARNAIL SINGH OR A ZAIDI MAY TAKE UP SHOES IN THEIR HANDS.

archana said...

I am BSc. maths graduate passed in 2009. I gave written test for the SBI clerical exam and am selected for the interview. I am about to join Times of India group as an executive salary of 18,334. I have also given CAT and got 87 percentile. People are suggesting me to consider SBI clerical job as it is secured. What should I do if I am selected for SBI job. Somebody please help me.

bank wage revision said...

Just close your eyes and join SBI take pramotion and dont continue long in clerical cadre.

chandan said...

Referring archana 29, 2010 1:58 PM:

bank wage revision's suggestion to join in SBI is quite immature. Minimum service period for T.O.(Fast track for 0 to 1) is recently raised to three years from two years. OJM is also not possible practically before Ten years of service as per latest revision of promotion policy of SBI. More over there is a grim chance for SBI Pension and CPF for new recruitees henceforth as because NPS likely to be introduced in SBI like other PSBs.

However despite low salary for these reason you can join there.


10 Valid Reasons - Why Love to Work in a Bank In spite of Low Wages
----------------------------------------------------------------------------------------------------------------

I hate to sleep

I can't live without tension

I want social boycott of myself

I've enjoyed my life in childhood

I want to take revenge on myself

I want to have disturbed family life

I love to work on holidays / Sundays

I don't want to spend time with my family members

I desperately need break up from my dearest friends.

I believe in GITA. (Karam karo, phal ki kamna n karo)

Thanks.

manna said...

I have been selected for appointment as postal assistant and have decided to join. Plz put some light on the working culture and the remunerations provided by the postal department. It is of the udc scale.

Abhinav said...

Amitava Mitra is a typical intellectual. Behaves in a communist mannner. It seems that he had applied for a bank job, and got rejected. that's why he is so angry at the genuine demands of employees. I have been a student too, and I have seen third grade students being selected for the so called "competent people hiring private banks", and these private banks and their competent employees have shown shocking and horrible results in western countries resulting in a global recession. So please keep your mouth shut, and stop talking about clerks in a racist manner. Maybe you are educated enough to get a job of a govt. officer, but you are not worth it because you are mannerless, and you are inefficient too, because you are unable to comprehend that even an illiterarte person would like to have a respectable life, and you are talking about people who qualified an entrance exam to select about 100-1000 employees out of lakhs, now thats what i call a competition you "IDIOT".

AMITAVA MITRA said...

Abhinav, even a donkey is more mannered than you. Is it necessary to pass comment in every isssue while it is out of your damn reach ? The viewers can easily guess who is the real idiot.

Jay Vijay said...

To Archana ,

I would suggest dont join any Banks till these retired Union leaders are at helm.

There are better options with the marks you have.

You will get better wages & promotions else where than Banks.

Dont waste your talents in Banking Industry

chandan said...

Referring Abhinav 24, 2010 11:11 AM:

Bank employees wage increase 17.5% pushed the attraction of a bank job far behind than that of a central government job, while compairing stress & strain involved between these two. Definitely unemployed will join in bank for employment, but not brains as it used to be happened in the days of Eighties & Nineties.One should observe that the so called wage hike every five years in banks have been quite minimal during the past decade or so whereas in central govt. there has been a quantum jump this time. As matters stand today the pay package in central govt. is quite high when compared with similar posts in banks. So naturally people who have other choices in hand will not join banks any more. And one should know that in banks now a days people have to toil hard even beyond ofice hours, that too being loaded with heavy risks all the time. In such a condition the present pay package wil not attract talents into banks.

Thanks.

NK said...

Some 14 years ago, I got the offer of appointment as PO in a nationalised Bank as also of a group B non-gazetted post in Central Govt. Naturally I opted to join the Bank and went for medical formalities to their Zonal office. To my surprise, everyone discouraged me from joining the Bank. Their frustration with job forced me to return and join the Central Govt. job which I still repent. I am yet to get a single promotion whereas PO joined at that time are now scale III officer. There is huge difference in salary whereas at the time of joining, it was merely Rs360/-. Therefore, bank officers are still far superior in pay package than the Govt officers. The problem is that bank officers compare themselves with UPSC recruits which is not fair.

ramji said...

Dear all,
I hv completed MBA recently and cleared SBI(AB)PO and clerk written test. Final result is awaited. I want to ask some questions only from those who are working in banks
1) If I get selected in bank clerk then after 2-3 months again selected for PO, what will the procedure to switch or is it restricted or they promote me as HR department is same for SBI & SBI AB ???

2) Some one told me that there is a differnce of salary between SBI PO and SBI AB PO, Is it right ???
If yes than how can they discriminate among employees working under the same brand state bank ??

3) If Govt. employees salary increased time to time by pay commission, why didn't bank employees asked for equal increament?? (refer to Mr. mohanlal's blog that Mr. O P Bhatt joined as PO whose salary was 1.5 times more than IAS). However it is unjustice to compare bank PO with IAS but PO must get salary equal to his govt. counter part.

4) As I am an MBA graduate and joined as PO, what'll be my career path ?? what time it will take to reach at top level ???

5)is Joining place decided by banks or they give some option/choice for joining place?? Are bank employees transferred in 2-3 years from one place to another??

6) Is banking recruitment process is very traparent irrespective to other govt recruitment where posts are sold???

7) what are the chances of final selection if written is cleared ??

Kindly reply my queries with proper information support.I'll respect all ur opinions and answer.

Bean said...

Dear Everyone
especially Amitava mitra and Chandan

This debate is not about the fact bankers are paid less than GOI.. infcat there is no comparison between bank service and gov service. banks are part of industry and have to compete to earn their bread. Govt is a monopoly and earns income by imposing taxes in efficient manner. Walk into any govt deptt, it is full of corruption, inefficiency, no punctuality, 5 days work that too only for two hours a day.

Bankers have to paid market determined rates as they have to compete in market. Govt does not pay bankers's salary. it has no rght to impose limits on that.

Salaries of bankers should be determined by the industry and comparable to industry standards and not by some govt babus.

SHYAM SINGH said...

Hi Mr. Mitra and Chandan !

I am here for you. I hope you people have not forgotten me. All the topics you are discussing here were answered by me quite 6-7 months back.

Should I give you a link or you want an answer a fresh ?

SHYAM SINGH said...

http://paycommissionupdate.blogspot.com/2009/12/talks-with-iba-on-9th-and-10th-dec-on.html

The Parity issue was discussed in detail with MR. Mitra on above link.

chandan said...

@SHYAM SINGH:

Yes Shyam I am here.

Logbook of an accomplished loser said...

well certainly i am not a banker or for that matter a govt. officer but i have a very few things to say which i assure doesnt suffer from any bias.

1.i have 3 MCom kins, 1 PSB AGM,1 LIC DO, 1 almost starving (none of them cracked any premier entrance of india, ever)
2.i know a govt. surgeon (yes he has the right to practise outside) who earns similar to that AGM.
one of my own also serves as a superintending engineer in a top priority govt sector(yes he could whisk away couple of crores per year considering he implements hundreds of crores of public money to work every year..but that is hardly an "official" salary right?)
this superintending engineer cant sit for dept exams every few years,has to nod to a secretary(probably with history honours background)with his M.E. from a top university and his salary if i am not mistaken is just shy of a DGM's salary.

i mean to tell there are jobs more specialized than banking.
i assume if you are truthful to yourself you never aspired to be a banker as a child..or did you?
yes you want to be an engineer,scientist,mathematician, writer,poet,painter, a doctor, a lawyer as a child, but a banker?
have you ever considered being something just to earn your living?

please face it the govt puts everyone under the same slab doctors engineers bankers.

there are people way more underpaid than PSU BANKERS, it is something you'll admit when you are a banker and your child lands a govt. medical officer/assistant engineer job with his/her glorified degree.

you'll realize disparity is every where and not everyone can put up a voice for it.

i'm not in any job, a lot younger than you, a learning medical graduate & probably leaving this country so as an inexperienced third party if i have offended anyone i most earnestly apologize.

Nicotine said...

What is happening here sir,,,,? There is a huge difference in securing a rank in civil service exam and in exams of banks.....there is no scope of comparing the two...hell & heaven difference....even its very tough to clear the Graduate Level exams.....and the syllabus & exam pattern of it is very vast & tough....bank exams are nothing in in comparison.......and a core govt.job in customs,central excise IT dept. is much more dignified & and prestigious than bank jobs........and all of us knows what prestigious category does an IAS or IPS officer holds?....nothing special is there in bank jobs except the Govt.Undertaking tag and monthly assured salary...

sunil said...

Hi sir, this is sasi
sir i have completed MCA but im interesting banking sector.
starting salary of bank po?
that means how much who get 1st month salary as a PO? and after probation how much who get?
Basic pay =?
other benifits (DA,HRA< ...etc) = ?
plz tell me sir.

After selecting po who get 20,000+ ? or not.

Sandeep said...

Sunil You will get 20738/- after deducting 10% PF. This is Including HRA (considering you did not opt for RFA) in a Metro

arpit said...

sir i am working in an Top class IT comanpy and my salary is aroud 21000 pm
I am selected in assistant job in miniratna PSU FCI (Food Corporation of india)
I want to know what will be the approx starting salary in Payband-2 that is
9300-34800.....including all allowance like DA,HRA,LTC etc

Bablu said...

i am working with one of the leading pvt. bank after resign the india's largest bank,why ? the reason is same salary structure in govt. nationlised bank, very low...i am working from last 2 (total experience 8 Yrs. as banker)yrs with bank,but i think the cream or good minds, also want higher packages than any govt. bank.the retention of work with brain is not possible in govt. banks,lots of my friedns also resign and join the pvt. with unsecure jobs,only for good packages....and i think the indian economy are mostly (approx 70%)depends on govt. bank.so if govt. not to pay high.no body wants to work with govt. bank....plz retention of manforce to increase the salary.....
Central govt. employee are not facing the competition like govt. bank,working environment totally change.....work hour more than any central govt. employee....so govt. why not to consider the higher salary than any central govt.

also the banks the profit earning center for govt.,social,and directly related to service sector,so plz increase the salary structure.....

manish ranjan

Bablu said...

u knw mr mitra....the HRA paid in banking sector only 8.5% of basic salary not with DA,why u compare with govt babu.....we means banking people are faceing competition,in service industry...mr mitra please read about service industry and competition facing by govt. bank with largest MNC Bank...then compare the work load and working environment...we are working on profit earning centers of govt with social resposibility,faceing customer directly...i am presently working as Branch manager in one of the leading pvt. sector bank,also completed my mba from MDI Gurgaon.

RENIGUNTLA said...

how much a Scale-II Bank IT Officer will get in hand if his basic is 19,400/-?

akash said...

Mr Bablu i hv also done mba with one of very reputed institute and worked various places including various banks now i m working as one of the nationalise Bank though may b salary b low but there is no comparision btwn private and public sector bank its pride that we r carrying to serve in public sector .

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