Different Posts Available in Banking Sector 2020
Banking is one of the remunerative professions in India. There is a huge demand for Banking due to high paid salary, secure job, various perks and allowances. Also, there is good career growth for each post. So, are you a Banking Job Aspirant? Thinking about which post to apply and what is the Bank post name list? This post takes you through all the details related to all posts in Public and Private Banks.
Different Posts in Banking Sector & Salary 2020
In the current world, banking jobs are among the most sought-after jobs by youth and even several students opt to study Banking oriented courses. There are different types of banks in India. Banking job provides good pay and perks. It also provides rapid growth and job satisfaction. Here are a few major Posts in Banking Sector along with the salary structure for IBPS and other sectors. Check out the Bank Post Name list along with the exam you need to apply for.
SBI offers huge salaries to all their posts. Out of the posts, SBI SO Salary is the highest and has various perks offered to the employees.
|List of Different Posts in Banking Sector||Salary||Exam|
|Probationary Officer||Rs 7 Lakh – Rs 13 Lakh PA||IBPS PO, SBI PO|
|Specialist Officer||Rs 6 Lakh – Rs 40 Lakh PA||SBI PO, IBPS SO|
|Clerk||Rs 2 Lakh – Rs 4 Lakh PA||IBPS Clerk, SBI Clerk|
|Manager||Rs 7 Lakh – Rs 10 Lakh PA||IBPS, SBI|
Advantages of Choosing Banking as a Career
If your dream job is in the banking sector, then it is definitely the right choice. There are various reasons to choose Banking as a career.
- Aspirants can choose among various domains available in banking like accounting, law, investment banking, taxes, public relations, customer relationships, etc.
- There is huge scope in the banking sector for overseas exposure as there are banks who have branches in Foreign countries as well.
- There is always a chance of getting transfers to Foreign branches. We can see many Banks have set up their branches abroad and it is a great advantage for candidates who perform well in their career.
- At an early age, if chosen a banking job, then it is a great opportunity for candidates to understand the global economy and get many different global opportunities.
Different Posts in Bank
Here is the brief list of bank post list from A to Z. These are the overall posts available in the banking sector, however, there is Banking Sector-wise posts and the exam details explained in the further section. Have a look at the post name and salary structure here.
|Posts in Bank||Average Salary (in Lakhs Per Annum)||Job Role|
|Agricultural Lender||Rs 5 Lakh PA||Help farmers and rural citizens obtain funds needed to fund their operation, purchase property and more.|
|Analyst, Bankruptcy Support||Rs 3 – 5 Lakh PA||Responsible for high-level risk bankruptcy accounts and applying Bankruptcy Code to those accounts|
|Anti-Money Laundering Auditor||Rs 10 Lakh PA||Investigate potential money laundering risks in banks and financial institutions.|
|Assistant Branch Manager||Rs 4 – 8 Lakh PA||Responsible for daily branch operations, management of staff, providing guidance to the team, and maintaining quality.|
|Assistant Trust Administrator||Rs 3 – 4 Lakh PA||Supports Trust Estate Officers in servicing accounts and responding to customer requests.|
|Audit Manager||Rs 12 Lakh PA||Responsible for the overall internal audit program for the bank, and operating independently of other departments.|
|Bank Examiner||Rs 3.5 – 4.5 Lakh PA||Investigate financial institutions to ensure their safety and soundness and to enforce federal and state laws|
|Bankruptcy/Foreclosure Coordinator||Rs 3 – 5 Lakh PA||Filing the necessary paperwork, ensuring that deadlines are met, verifying signatures, and attaching addenda|
|Bilingual Client Services Representative||Rs 3 Lakh PA||Provide customer service in English and a foreign language or other regional languages.|
|Branch Manager||Rs 9 Lakh PA||Managing resources and staff, developing and attaining sales goals, delivering exceptional customer service, and growing the firm.|
|Business Banking Loan Administration Manager||Rs 11 Lakh PA||Monitor the interaction between Credit, Loan Operations and Loan Administration for timeliness of the process. Prepare and transmit reports to management.|
|Business Banking Officer||Rs 8 – 10 Lakh||Coordinate with branch managers and senior management and develop various strategies for business development.|
|Business Intelligence Manager||Rs 14 Lakh PA||Analyze market strategies through the study of related products, markets or share trends.|
|Client Service Manager||Rs 8 Lakh PA||Handle and resolve client queries, develop strategies for improving customer services, train other client services staff, authorize refunds on products, maintain business relationships with existing clients,|
|Collector||Rs 2.5 – Rs 3 Lakh PA||Track downs individuals with overdue bills and request payment.|
|Commercial Relationship Management Assistant||Rs 3 – 6 Lakh PA||Provide support to the function, supporting CRM activity across the business and assisting in the maintenance of Business Development and Engagement pipelines|
|Common Trust Fund Accountant||Rs 4.5 – 6 Lakh PA||Captures and Records activity and calculating the NAV. Account for fund income. Process and/or monitor corporate actions. Price financial instruments.|
|Consumer Credit Analyst||Rs 6 – 10 Lakh PA||Focuses on analyzing the financial data of the customer, companies that are applying for credit or loans, or other lending or credit-granting institution will not recoup funds loaned.|
|Consumer Finance Assistant Manager||Rs 3 – 6 Lakh PA||Making outside sales calls and reporting customer activities to the Branch Manager. Growing the business and connecting customers with the Branch Manager.|
|Consumer Loans Processor||Rs 2 – 4 Lakh PA||Responsible for processing approved collateral loan, personal loan, and visa loan applications ensuring the accuracy and quality of the loan documents.|
|Consumer Loan Underwriter||Rs 3 – 4 Lakh PA||works at a credit union or other financial institution to determine whether or not to extend loans to clients.|
|Custody Investment Specialist||Rs 11 Lakh PA||Responsible for supporting the day-to-day administration and handling of custody relationships, requiring knowledge of securities.|
|Customer Service Representative||Rs 2.5 – 3 Lakh PA||Serves customers by providing product and service information and resolving product and service problems.|
|Default Specialist||Rs 3 – 4 Lakh PA||Responsible for handling all administration and processing aspects of the Bank’s Default portfolio including collections, all legal matters including appraisals, title searches and real estate agents and provincial lawyers.|
|Escrow Manager||Rs 4 – 5 Lakh PA||Responsible for hiring and leading the Escrow Department and being accountable for this department’s ability to balance CDs, deliver closing|
|eServices Quality Analyst||Rs 4 – 5 Lakh PA||Developing and supporting the planning, design, and execution of test plans, test scripts, and process plans for projects.|
|Head Teller||Rs 3 – 4 Lakh||Responsible for the supervision of the teller area|
|Internal Auditor||Rs 3 – 5 Lakh PA||Evaluating and assessing the financials and accounting practices of an organization.|
|Investment Accounting Analyst||Rs 2 – 4 Lakh PA||Collect information, perform research and analyze assets, such as stocks, bonds, currencies and commodities.|
|Investment Management Operations Analyst||Rs 5 – 6 Lakh PA||Responsible for risk management by monitoring the financial operations of the bank and its office employees.|
|Investment Management Specialist||Rs 11 – 25 Lakh PA||Provides investment information and financial advice; works with corporate and individual clients; and maintains knowledge of a wide range of investment and financial products, including trusts, stocks, bonds, and shares.|
|Investment Planner||Rs 2 – 3 Lakh PA||Provide financial planning and investment advisory services. Research and present investment strategies.|
|Junior Analyst – Asset Management||Rs 4 – 5 Lakh PA||Perform various functions, including working on refinances, rehabilitation projects, annual budgets, writing and managing leases, legal and accounting, over-seeing and directing property management,|
|Lead Business Consultant, Banking Innovation Center||Rs 15 – 16 Lakh PA||Organizing and executing assigned business projects on behalf of clients according to the client’s requirements|
|Lead Syndication Specialist||Rs 3 – 5 Lakh PA||Researching leads that meet the aforementioned requirements and engaging them in order to qualify them for sales.|
|Lending Manager||Rs 3 – 5 Lakh PA||Collect all everyday operations and manage all membership service programs and provide required training.|
|Loan Officer Trainee||Rs 2 – 4 Lakh PA||Approve loans within specified limits, refer loan applications outside those limits to management for approval.|
|Loan Representative||Rs 5 – 10 Lakh PA||evaluate and authorize approval of business, real estate, or credit loans.|
|Loan Support Specialist||Rs 2.4 – 4.6 Lakh PA||Establish loan files manually and electronically and order all exhibits soon after the file is received.|
|Lock Box Clerk||Rs 2 – 3 Lakh PA||Responsible for following established policies and procedures, processing lockbox payments, verifying data on payments and accompanying documents, collating, and mailing.|
|Loss Recovery Manager||Rs 4 – 5 Lakh PA||Develops collection strategies to minimize “bad debt” portfolio loss.|
|Mortgage Consultant||Rs 2 Lakh PA||Involves working with customers to identify the best option, based on their individual circumstances and financial resources.|
|Mortgage Operations Support Technician||Rs 2 – 3 Lakh PA||Provide administrative and clerical support to various staff members of the field office in order to accomplish organizational goals and missions.|
|New Accounts Banker||Rs 2 – 4 Lakh PA||Responsible for interviewing and engaging prospective customers inquiring about opening new accounts, such as savings or checking accounts.|
|Online Customer Service Representative||Rs 2 – 4 Lakh||Respond to customer queries through email or online chat boxes.|
|Origination Loan Officer||Rs 2 – 4 Lakh||Develops loan applications by evaluating applicant information and documentation.|
|Personal Banker||Rs 2 – 4 Lakh||helping bank customers open new checking and savings accounts and facilitating other ordinary banking transactions.|
|Phone Banker||Rs 2 – 4 Lakh||addresses banking customer concerns and needs via telephone.|
|Premier Banker||Rs 2 – 4 Lakh||introduce customers to specialists who can assist with specific financial needs.|
|Regulatory Compliance Analyst||Rs 4 – 6 Lakh||overseeing an organization’s activities to ensure they are in compliance with regulatory or ethical standards.|
|Relationship Manager, Commercial Lending||Rs 2 – 4 Lakh||Responsible for the acquisition of new commercial banking clients and the expansion/retention of existing relationships|
|Senior Financial Analyst||Rs 5 – 8 Lakh||Responsible for preparing and managing financial and profitability reporting|
|Senior Investment Analyst||Rs 3 – 6 Lakh||Examine and assess economic and market trends, earnings prospects, financial statements|
|Senior Teller||Rs 2 – 4 Lakh||supervise teller teams and assign tasks to other employees|
|Senior Trust Consultant||Rs 14 – 25 Lakh||Conduct marketing research to identify industry|
|Technology Risk Manager||Rs 12 – 14 Lakh||identifying potential risks and developing protocols that staff must follow to reduce or manage those risks|
|Teller||Rs 2 – 4 Lakh||Serves customers by completing account transactions|
|Trust Asset Manager||Rs 4 – 6 Lakh||Manages client assets according to investment preferences and goals|
|Trust Assistant||Rs 2 – 4 Lakh||servicing accounts and responding to customer requests|
|Wire Department Manager||Rs 4 – 5 Lakh||manages subordinate staff in the day-to-day performance|
Participating Banks in IBPS
The following-mentioned are those banks that are in the participation of the banks which conduct banking exams every year under IBPS. Check the list below to know about the participating Banks-
|1 Allahabad UP Gramin Bank||15 Ellaquai Dehati Bank||29 Manipur Rural Bank||43 Rajasthan Marudhara Gramin Bank|
|2 Andhra Pradesh Grameena Vikas Bank||16 Gramin Bank of Aryavart||30 Meghalaya Rural Bank||44 Saptagiri Grameena Bank|
|3 Andhra Pragathi Grameena Bank||17 Himachal Pradesh Gramin Bank||31 Mizoram Rural Bank||45 Sarva Haryana Gramin Bank|
|4 Arunachal Pradesh Rural Bank||18 J & K Grameen Bank||32 Nagaland Rural Bank||46 Sarva UP Gramin Bank|
|5 Assam Gramin Vikash Bank||19 Jharkhand Gramin Bank||33 Narmada Jhabua Gramin Bank||47 Saurashtra Gramin Bank|
|6 Bangiya Gramin Vikash Bank||20 Karnataka Vikas Grameen Bank||34 Odisha Gramya Bank||48 Sutlej Gramin Bank|
|7 Baroda Gujarat Gramin Bank||21 Kashi Gomti Samyut Gramin Bank||35 Pallavan Grama Bank||49 Telangana Grameena Bank|
|8 Baroda Rajasthan Kshetriya Gramin Bank||22 Kaveri Grameena Bank||36 Pandyan Grama Bank||50 Tripura Gramin Bank|
|9 Baroda UP Gramin Bank||23 Kerala Gramin Bank||37 Paschim Banga Gramin Bank||51 UtkalGrameen Bank|
|10 Bihar Gramin Bank||24 Langpi Dehangi Rural Bank||38 Pragathi Krishna Gramin Bank||52 Uttarbanga Kshetriya Gramin Bank|
|11 Central Madhya Pradesh Gramin Bank||25 Madhya Bihar Gramin Bank||39 Prathama Bank Moradabad||53 Uttar Bihar Gramin Bank|
|12 Chaitanya Godavari Grameena Bank||26 Madhyanchal Gramin Bank||40 Puduvai Bharathiar Grama Bank||54 Uttarakhand Gramin Bank|
|13 Chhattisgarh Rajya Gramin Bank||27 Maharashtra Gramin Bank||41 Punjab Gramin Bank||55 Vananchal Gramin Bank|
|14 Dena Gujarat Gramin Bank||28 Malwa Gramin Bank||42 Purvanchal Bank||56 Vidharbha Konkan Gramin Bank|
IBPS Bank Posts 2020
Under the Institute of Banking Personnel Selection, there are various posts offered which are listed below. Have a look at the brief explanation of Posts in Bank along with their salary structure, roles, and exams you need to apply for.
Probationary Officer is one of the highly in demand post for candidates who have completed their graduations. Every year there are more than 8-10 lakh applications received for IBPS PO Exam. Here is brief information about the roles, responsibilities, and salary structure.
Responsibilities of an IBPS PO
- There is a probation period of 2 years
- There could be any work related to banking for a PO
- The probation period is for lengthened training so that the candidates can understand their duties properly
- The candidate must have a firm knowledge of finance, accounting, marketing, billing as well as investment
- Once the probation is over, the individual can be posted as Assistant Bank Manager to handle work
- The individual will handle the work related to people’s bank accounts, cheques, draft insurance etc
- They also have to handle the cash flow, mortgages etc
- Moreover, there are many customer queries and complaints that a PO will handle
- If the candidate is observed to be really responsible and professional, they will be given more duties like planning and budgeting etc
- Also, a PO will take care of transactions taking place
- Even more, they will handle the loan related documents and work related to Loans
IBPS PO Salary
- The Basic IBPS PO Salary is Rs.23700-(980×7)-30560-(1145×2)-32850-(1310×7)-42020 This means upon joining, the Probationary Officers will be getting a Basic Salary of Rs.23700.
- Also, there will be additional benefits and allowances. The POs will also get an annual increment of Rs.980 for 7 years. That is: Basic Pay after 7 years – Rs 30560 Basic Pay after 2 more years – Rs 32850 Basic Pay after 7 more years – Rs 42020
IBPS PO Salary: Allowances
The candidates can check the following table to know what kind of allowances Probationary Officer gets:
|Dearness Allowance (DA)|
|House Rent Allowance (HRA)|
|City Compensatory Allowance (CCA)|
|New Pension Scheme|
IBPS PO Promotions
The table below has detailed information regarding the promotions of IBPS PO:
|IBPS PO Salary: IBPS PO Promotions|
|1. Middle Manager – Middle Management Grade Scale 2|
|2. Senior Manager – Middle Management Grade Scale 3|
|3. Chief Manager – Senior Management Grade Scale 4|
|4. Assistant General Manager – Senior Management Grade Scale 5|
|5. Deputy General Manager – Top Management Grade Scale 6|
|6. General Manager – Top Management Grade Scale 7|
|7. Executive Director|
|8. Chairman and Managing Director|
Specialist Officer is another respected post on Banking Sector. Every year, IBPS conducts examination to recruit numerous vacancies in different participating banks. If you are aspiring for SO post, then go through the detailed job role and apply for IBPS SO Exam.
IBPS SO Job Profile
- The job profile of IBPS SO means to serve for the technical issues about software and hardware up-dos, transpiring within the organization.
- The IBPS SO will be aware of how to deal with the technological complications, whether they are coming from the side of customers or the bank employees.
- The IBPS SO usually stays at the zonal/regional office or at branches so the job location, most times, is in big cities where the person will be responsible for managing various tasks and duties.
- The main job of the IT Officer in Banks is that he is dutiful towards the delivery of end-to-end support for the bank’s core banking system
- Whether the issues are being observed from the end of customer or from the bank employees, he will provide the solution for the smooth running of systems
- The IBPS Specialist Officer IT Officer work profile has to handle several sub-systems of banking like handling the maintenance of ATM, mobile banking or internet banking.
- The IT officer has to perform creative functions also, like developing new software which holds some strong meaning for the system and if needed, modify the existing software so that to prevent the security issues to system data
IBPS SO Salary Structure
The candidates can check the table given below to know the information related to the salary structure of IBPS SO:
|Officer Scale I||23700-980(7)-30560-1145(2)-32850-1310(7)-42020.|
|Officer Scale II||31705-1145(1)-32850-1310(10)-45950.|
|Officer Scale III||42020-1310(5)-48570-1460(2)-51490.|
IBPS SO Career & Growth
The table below displays the career growth and promotion idea of the post of IBPS SO: The promotion takes place on the basis of one’s performance and results in the bank
|Junior Management Grade||Scale I||Officer|
|Middle Management Grade||Scale II||Manager|
|Middle Management Grade||Scale III||Senior Manager|
|Senior Management Grade||Scale IV||Chief Manager|
|Senior Management Grade||Scale V||Assistant General Manager|
|Top Management Grade||Scale VI||Deputy General Manager|
|Top Management Grade||Scale VII||General Manager|
IBPS SO Perks and Allowances
There are several perks and allowances which are provided by the government to the person at the position of IBPS SO. The table below explains:
IBPS Clerks are the most prestigious posts in the bank they are working in. They are the main aspect of the bank because they have to deal with customers regularly. Have a look at the brief information about the job role of clerk and apply for IBPS Clerk Exam.
IBPS Clerk Job Responsibilities
There are some responsibilities of an IBPS Clerk which are written as follows:
- Firstly, the IBPS Clerk verifies several different kinds of documents and proofs which the clients submit
- Secondly, they have the duty of updating passbooks of the customers
- They provide guidance to the customers regarding the bank policies and other things related to the bank
- They also have to be there for the issues of the clients
IBPS Clerk Salary Structure
The candidates must check out the following table for the detailed information regarding the Salary structure of IBPS Clerk:
|Places With Population More Than 45 lakhs||Places With Population Less Than 45 lakhs|
|Basic Pay||Rs 11765||Rs 11765|
|Dearness Allowance||Rs 5311||Rs 5311|
|Travel Allowance||Rs 425||Rs 425|
|Special Allowance||Rs 911||Rs 911|
|House Rent Allowance||Rs 1176||Rs 1058|
|Total IBPS Clerk Salary||Rs 19588||Rs 19470|
IBPS Clerk Perks & Promotions
The aspirants can check the table given below in order for more information regarding the IBPS Clerk Perks and Benefits:
|Special Allowance||In the beginning, the Special Allowance is 7.5 per cent of the Basic Pay. Once, one year of service is completed, Special Allowance is increased by Rs 400 to Rs 500|
|Dearness Allowance (DA)||This element is 4 per cent of the IBPS Clerk Basic Pay. DA depends on the CPI and is revised quarterly, i.e. after every three months.|
|House Rent Allowance (HRA)||The HRA depends on the place/city of the posting. It will be 8.5 per cent of the Basic Pay for Metro Cities, 7.5 per cent of the Basic Pay for cities having a population of more than 5 lakhs, and 6.5 per cent of the Basic Pay for other cities.|
|Travel Allowance||The expenditure on official tours and travels will be provided by the bank|
|Medical Allowance||This is paid once a year. For IBPS Clerks, the amount is fixed at Rs 2000|
SBI Bank Posts
The State Bank of India (SBI) being the largest commercial bank in India, makes sure an extremely secured future for their employees. It offers financial stability as well as high social status. Check out the brief explanation about each post under SBI here. Know the roles and responsibilities, career growth, and salary structure.
The State Bank of India Probationary Officer (SBI PO) is one of the most desired and esteemed jobs in India. Every year lakhs of students write the SBI PO Exam to be recruited in the banking sector.
SBI PO Job Profile
The candidates can check out the following details in order to have more information related to the responsibilities of SBI PO:
- There is a probation period of 2 years for an SBI PO
- During the probation period, the individual will supervise clerical activities, loan procedure, the opening of the bank accounts and more
- Moreover, they will be taught several fields of banking like Retail Banking, Rural Banking etc.
- Other than the on-site training, the individual will also get training at SBI institutions
- Once the probation period is over, the candidate will go through the screening
- The SBI PO will directly represent the bank to the customers promoting to them
SBI PO Salary Structure
The initial basic pay of an SBI PO is Rs.27,620/-. The candidates can check the following table in order to know the salary structure in detail:
|SBI PO Salary 2019: Allowances|
|Dearness Allowance (DA)||The DA is calculated based on the Consumer Price Index (CPI) and is revised every quarter. You can expect your DA to be around 46 per cent of the basic pay. However, it will go up or down based on inflation.|
|City Compensatory Allowance (CCA)||This is calculated based on your city of posting and ranges between 3 to 4 per cent of the basics.|
|Leased House Accommodation / House Rent Allowance (HRA)||This too depends upon the city of your posting and can vary from Rs 8000 (in rural areas) to Rs 29,500 (in Mumbai).|
|Travel Allowance (TA)||SBI PO gets reimbursement of travel cost for official travels.|
|Furniture Allowance||Rs 1,20,000 for the purchase of furniture.|
SBI PO Other Additional Benefits
The salary of an SBI PO is great. But, that is not enough. There are other allowances which are provided to the employees by the government. The candidates must take a look at the following table for proper details:
|SBI PO Salary: Additional Benefits|
|Medical insurance (100 per cent for SBI PO and 75 per cent for family members)|
|Cashless treatment in selected medical facilities around the country|
|Books and magazines allowance|
|House maintenance allowance|
|Telephone bill reimbursement|
|Concessionary interest rates for House Loan, Car Loan, and Personal Loan|
SBI PO Promotions & Career Growth
The students who plan to appear in the SBI PO exam can check out the following table to know more details regarding the SBI PO Promotions and Career Growth:
|SBI PO Salary: SBI PO Promotions & Career Growth|
|Assistant General Manager|
|Deputy General Manager|
|Chief General Manager|
The State Bank of India also offers numerous vacancies in Specialist Officer every year. As per the previous year trends, more than 5 lakh candidates apply for SBI SO Exam each year.
SBI SO Job Profile
The job of an SBI SO usually depends on the department he is posted in. The job is to do technical help. The various responsibilities of an SBI SO are as follows:
- The SBI SO maintains the IT infrastructure in the bank
- Secondly, they also handle the duty to maintain the server
- Also, the smooth working of ATM machines is also handled by an SBI SO
- The person at the job will take care of the troubleshooting matters
- Even more, the person at the duty of SBI SO will handle small tasks like installation, formatting etc.
SBI SO Salary Structure
The following table shows the salary structure of the position of an SBI SO:
|SCALE ABBREVIATION||SCALE||SCALE OF PAY||MONTHLY EMOLUMENTS APPROX|
|JMGS I||Junior Management Grade Scale I||23700-980/7-30560-1145/2-32850-1310/7-42020||73600-(inclusive of leased Rental at Mumbai)|
|MMGS II||Middle Management Grade Scale II||31705-1145/1-32850-1310/10-45950||90700-(inclusive of leased Rental at Mumbai)|
SBI SO Perks and Allowances
There are many kinds of perks and benefits that people in government jobs get the advantage of. The following mentioned are some of those SBI SO Perks and Benefits candidates must check:
- House Rent Allowance
- Travel Allowance
- Accommodation Facilities
- Medical Facilities
- Furniture Allowance
- A respectable job
- Handsome Salary
SBI SO Career Growth and Promotions
The following mentioned is the growth and promotion process of an SBI SO: Top Management – Scale 7 – General Manager Top Management – Scale 6 – Deputy General Manager Senior Management – Scale 5 – Asst. General Manager Senior Management – Scale 4 – Chief Manager Middle Management – Scale 3 – Senior Manager Junior Management – Scale 2 – Manager Junior Management – Scale 1 – Officer/Assistant Manager
SBI Clerk is one esteemed job profile. The SBI makes sure that the new person at the job of SBI Clerk gets proper training before beginning the actual work. The career growth of an SBI Clerk depends on the performance of the candidate.
SBI Clerk Job Profile
There are several responsibilities of the person at the job of SBI clerk which are mentioned as follows:
- The person as an SBI Clerk will handle the opening of new accounts of customers
- Secondly, the person at the SBI clerk job will also take care of the cheque clearance, cheque book rewards and more such similar duties
- They might also function as Cashiers in some branches
- The SBI Clerk will directly be in touch with the customers to solve their queries
SBI Clerk Salary Structure
The salary (in-hand) of an SBI clerk, after making all the deductions, varies from place to place at which the individual is being posted. It mostly lies in the range of Rs.20,000/- to 23,000/- (according to the posting location). There are several kinds of perks and allowances for the job of SBI clerk which are as follows:
- Dearness Allowance (DA) House Rent Allowance (HRA)
- Special Allowance
- Transport Allowance and more
|SBI Clerk Salary Components|
|Dearness Allowance (DA)|
|House Rent Allowance (HRA)|
|Transport Allowance (TA)|
SBI Clerk Career Growth and Promotions
SBI has some excellent career growth opportunities for the SBI Clerk post. Employees SBI have the chance to get promotion in JMGS Scale-I.
- For promotion to the officer cadre, the person has to satisfy specific requirements, which vary as per the promotion cadre. For example, for promotion to Trainee Officers, the employees can write the written exam and interview after 3 years of service
- SBI Clerks have the best opportunities for promotion in comparison to other government banks
- Employees can reach as high as the post of General Manager because of the fast track promotion process of SBI
Hierarchy Structure in Private Sector Banks
Private sector banks are a lot different from public sector banks. It is hard to compare between both public sector and private sector banks as both of them function differently.
- Clerks – Clerical positions are front desk positions. Clerks have to deal directly with customers and have responsibilities like current deposit, term deposit, savings account, retail loans, agricultural loans and cash credit sections.
- Officers – Officers need to conduct seminars and business planning sessions and discuss monthly functioning of the bank. They analyse monthly reports and prepare financial reports to submit to higher management
Hierarchy Structure in Public Sector Banks
The following is the details of Middle Management:
- Manager – They oversee the daily functioning of the bank and guide the junior staff in the individual departments. They also work closely with the marketing team and develop flexible programs for the customers.
- Senior Manager – Senior managers are with the loan section and work on investments and account service operations.
Senior Management information is as follows:
- Chief Manager – Chief Manager manages the list of implementations of accounts and report to shareholders, cost control, budgeting and also report to local authorities.
- Assistant General Manager – They solve the customer queries regarding the savings and current accounts and make the customer understand the value of various banking and financial services offered by the bank.
The top management is explained as follows:
- Deputy General Manager – Deputy general manager works under a general manager. The main role is to monitor various banking policies and procedures and assist the general manager.
- Chief Financial Officer – CFO is an important constituent of the bank, who supervises the financial unit of the bank and reports to the chief executive officer. CFO conducts regular operations like cost-benefit analysis, budget analysis and forecasting.
- Chief Executive Officers – CEO should be well knowledgeable about capital management, business communication, portfolio management, investments, investing, security analysis, and finance laws.
- President – The president oversees the operations of the top management. The president is responsible for implementations and planning of various policies in the bank and also coordinate with third parties related to banking that may also involve governmental and non-governmental organizations closely related to banking and finance.
Which one of the two is better – Private Sector Bank or Public Sector Bank?
You need to decide whether you want to work for SBI or HDFC. It all depends on you. Both PSB’s and private sector banks come with their own set of challenges and hence it would be wrong to say that one is better than the other. The Culture of working too will differ in both private and public sector banks. Private sector banks will have a very competitive environment to work and there will not have much job security. Public sector banks, on the other hand, are very conservative and come with a lot of perks and benefits, but not without their own set of disadvantages.
Roles & Responsibilities in Public Sector Bank
Given below are the roles and responsibilities of various posts available in Public Sector banks:
Clerk: Job Role and Responsibilities
- Clerical jobs in a bank are the starting point for a career in banking.
- Clerks are assigned duty such as interacting with customers, maintaining an account, creating reports.
- In government banks, clerks are seen in the cash counter handling day-to-day transactions of customers.
Probationary Officer: Job Role and Responsibilities
- Candidates with a degree are considered eligible for PO position.
- There are several people who joined as PO and scaled to the ranks of MD or CEO.
- A probationary officer is ranked above the clerk and enjoy higher pay grade and salary as well.
- Clerks too can become PO through internal promotions.
Specialist Officer: Job Profile and Responsibilities
- Specialist Officers work in specific departments like engineering, systems, marketing, management, public relations, and they are essential.
- Specialist officers may work in the loans department where they assess and analyse the capacity of those who apply for loans.
- These officers may sanction loans to the based on their financial capacity to repay loans and their past records.
- For example, Specialist officers with an engineering background may also be recruited into the IT department to take care of the technology assets of the organisation.
- Usually, candidates from professional courses or specialized courses are preferred for this position.
- Agriculture Officer (as Part of SO): Agriculture officers may have to give loans to farmers. They work on agricultural loans and help people from rural areas. Candidates with a background in agriculture, veterinary science and horticulture are preferred for this post.
Manager / Asst. Manager: Job Profile and Responsibilities
- Candidates with an MBA degree are preferred.
- These candidates should also possess minimum work experience of 3-5 years of work experience.
- Becoming a manager is quite difficult especially in Public sector banks as a lot of experience will be preferred.
- Becoming Branch Manager is relatively difficult just like becoming a zonal manager is even more difficult.
- In Private sector banks, the hierarchy is very different.
- A lot of experience in the private sector, especially in the banking sector will carry a lot of value.
Internal bank auditor
- The job of an auditor is to make sure that all the accounts and checks balance and match.
- It is a rather fundamental task and in case of most organisations or institutions, external auditors are sent to check whether or not all the paperwork for that organisation is in order.
- Every organisation thus needs to have an internal auditor as well who will manage all the affairs and this is the task of an internal bank auditor.
- It is one of the most prestigious Job Positions In Bank that offers great pay scale.
- Each branch has its own operational mechanism which needs to be supervised and maintained by someone.
- The Branch Manager is responsible for handling all the situation in the Bank.
Marketing Representative of the Bank
- Every bank wants to increase its customer base. More the number of customers with accounts more is the credibility enjoyed by the bank.
- This is what this position of all the Job Positions In Bank entails.
- it is the job of the marketing representative to make these schemes saleable.
- They need to explain to a potential customer why it is important to go for an investment plan or open an account and how it will benefit them.
- When we go to a bank, we will always approach the bank teller first. It is the job of a bank teller to reach out to the customers.
- It is very important that the tellers are friendly and can patiently hear out all the queries that a customer might be having.
- The bank Teller also needs to take care of the accounts of the account holders, deposit cash in accounts they are meant for, give cash after verifying the details of the account holder, creating challans and demand drafts and taking care of the basic customer requirements.
DPO or the Data Processing Officer
- It is the job of the DPO to make sure that all the systems of the bank are updated and in order at the end of the day.
- It is also their job to look after the technical side of data entering, updating the internet banking system etc.
- There may be one or many DPOs working under a particular person with a structured plan in hand.
- This is another really important one of all the Job Positions In Bank.
- Many account holders often request for different kinds of loans to a bank, for personal reasons, for housing, for cars etc. It is the job of the loan officer to either sanction or rejects these loan applications.
- The loan officers have to run a background check on the applicant and go through their accounts to understand whether or not the applicant will be able to pay their loan in time based on which they will allow the loans.
- Loans are important sources of money generation for a bank because of the interest rate that is paid along with the loan.
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