As wage revision (10th Bipartite Settlement) settled at 15 % hike. So, following would be the new pay structure of newly joined Probationary Officer (PO) Salary.

Salary structure of Post

New Salary of PO after Wage Revision in Central Bank of India
Present Hike 15%

Corresponding Basic 26705

Current Basic 14500

Current DA % 109.8-15921

Corresponding Revised DA % (33.1) 8839.36

Current HRA % 6.5-942.5

Corresponding HRA % (7.475) 1996.2

Current Gross Salary 31364

Corresponding Gross Salary 37541

Current NPS Contribution 3042.1

Corresponding Revised NPS Contribution 3554.44

Current Net Salary 28321

Corresponding Revised Net Salary 33986

Other perks available

There are number of other perks available to Bank officers and these vary from bank to bank, and even the amount of such perks varies from bank to bank.

Some of the perks available to Bank officers are:-

(a) Leased Accommodation: The lease amount varies from bank to bank and place of postings. However, you should remember that this amount is not available as cash component and will directly go to the house owner - you have got leased.

(b) Traveling Allowance: Some banks allow fixed Traveling Allowance whereas others allow reimbursement of petrol bills i.e. officer must own scooter / car at the place of posting

(c) Newspaper Reimbursement: A fixed monthly amount is paid towards the cost of one newspaper

(d) Medical Aid: A fixed annual amount is paid by most of the banks (Revised amount is Rs8000/- p.a.)

(e) Coverage under New Pension Scheme