I am doing the coaching of the Bank PO exam. I had written the Canara Bank PO exam already. I have chances to select in this exam. What is salary I can expect from the Canara Bank for the probationary officer? Tell me the salary with the HRA and DA?

Probationary Officer is an initial level of any officer in a bank

Canara Bank recruits Probationary Officers PO through IBPSC CWE PO Exam.

Institute of Banking Personnel Selection IBPSC conducts its online common written examination for the recruitment of Probationary Officers into various public sector banks.

Canara Bank Probationary Officers PO pay Scale-

According to which the revised salary of Bank PO will come into effect from 1st January 2016.

The revised basic pay of PO thus becomes –

23700 - (980 x 7) - 30560 - (1145 x 2) - 32850 - (1310 x 7) – 42020

Rs. 23700 is the revised basic pay of Bank PO as applicable on 1st January 2016. Thus the new entrant in a Bank as PO is liable to get Rs. 23,700 as basic pay.

Rs. 980 is the annual increment that a Bank PO will get and it will be applicable for a period of 7 years.

PO is entitled to receive following Allowances:

1. Dearness Allowance (DA): In Banks, DA is revised quarterly and is based on the CPI data as revealed by Government of India.

The last Revised DA for the quarter of November and December, 2015 and January, 2016 is 39.80% of the Basic Pay.

Since it depends on CPI, DA can go up with higher Inflation and vice versa.

2. Special Allowance: In the latest revision, a special allowance has been added to the salary structure of Bank PO.

And it is 7.75% of the Basic Pay.

3. House Rent Allowance: This varies according to Bank PO’s place of posting and can be 9.0% or 8.0% or 7.0% depending upon metros, big cities and other locations.

4. City Compensatory Allowance: This also depends on the place of posting and can be either 4% or 3 % or 0%.

Hence the total Salary (without HRA) of Bank PO becomes Rs. 35,700 – 36,570. While considering the HRA into account, it becomes Rs. 37,360 -38,700.