1) Job Profile of a PO:

  • Customer- Relation: The proper tools of trade are manhandled in this period of time containing various fields of banking. It trains them in handling customers, keeping them satisfied and creating awareness among them about various banking services.
  • Bringing in new business: It teaches them to bring in new businesses for the banking professionals.  It includes promotion and selling of various services of banks to its customers.
  • Time Management: Professionals are required to complete their tasks beyond deadlines and targets as each month passes.
  •  Keeping Track & Reporting: Nowadays in every organization, payment clearances of employees are done via banks. With the introduction of core banking services, report verification comes in picture which is handled by POs only.

Thus it can be quoted that the probationary officer has no actual job description and needs to be the jack of all trades related to the banking industry.

2) Perks and Bonuses:

  • Initial pay: The initial basic pay of a PO is Rs. 14,500 as per first term. A PO can get various increments of Rs.600 in second term, Rs.700 in third term and Rs.800 in the last term of the pay scale. Thus, the maximum basic pay after receiving all these increments is around Rs.26000.
  • Dearness allowance: It depends upon the prices in the market. It is directly proportional to the market price and shows an average of 10% increase every year.
  • Monthly house rent allowance: It varies from 6% to 15% of the salary depending upon the cost and area of living where the officer is currently posted. The allowance varies from urban to rural areas and it greatly boosts the lifestyle.
  • HospitalizationReimbursement & Leave: It includes total reimbursement of expenses related to illness of the officer himself. In addition, 75% of medical expenses on your immediate family are also reimbursed. You also get paid leave for illness.
  • Deputation Allowance: If the officer is attending any special events like training or visit to other branches due to temporary staff shortage then deputation allowance is given to them. This can be approximately Rs.1500/day other than travel expenses incurred by him.

3) Apart from all these, officers  are  also  awarded  various  other small  perks  every month  depending  upon their performance  and  also  according to the  will  of the  bank  he/she  is  working for. These mostly include:

  • Petrol expenses for up to 35 liters.
  • Newspaper expenses up to two of them.
  • Furniture allowances
  • Cheaper loan schemes
  • Scholarships for your wards
  • Insurances policies.