The latest revision of salary of Indian Bank PO / Bank Probationary officers has taken place wef 1st November, 2012 (The final agreement has been signed only on 25th May, 2015) .

All newly recruited POs are placed in the following scale at the 1st stage of the same.

The revised salary as on 1st January 2016 will be as per Scale I given below :

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

In addition to Basic Pay, Probationary officers PO are eligible for the following allowances :-

Dearness Allowance (DA) : DA in banks is revised on quarterly basis (i.e. in the months of February, May, August and November) based on the CPI as declared by Government of India.

The new revised current DA (for the month of November 2015, December 2015 and January 2016 is 39.80% of the Basic Pay).

Special Allowance : This has been added in 10th BPS (wef 01/11/2012) and for scale I is 7.75% on which DA is also payable

HRA : This depends on the place of posting and it can be either 9.0% or 8.0% or 7.0% depending on the place of posting.

CCA : This also depends on the place of posting and can be either 4% (maximum Rs.870/-) or 3%(Maximum Rs.600/-) or 0%

Newly Appointed Bank Po - Initial Salary / Starting Revised Pay On Joining [As On 1st January, 2016 ]

Major A Class Cities* Area - I* Other Areas
Basic Pay 23700 23700 23700
Special Allowance 1836.75 1836.75 1836.75
DA 10163.63 10163.63 10163.63
CCA 870 600
Transport Allowance 0 0 0
Total (without HRA) 36570.38 36300.38 35700.38
HRA 2133 1896 1659

Gross with HRA 38703.38 38196.38 37359.38