In this article, we have shared all the details related to Bank of India Salary 2023, pay scale structure, job profile and other allowances. Aside from job security, one reason people pick banking careers is thing remuneration. One of the highly coveted positions for which many candidates take the exam each year is the specialist officer. The specialist officer’s job is hard, and he or she earns a respectable income.
Read the article below to know more details about Bank of India Salary – post-wise details and other benefits.
Bank of India Salary Structure of Manager
In the table below we have shared the salary structure of Bank of India specialist officers.
| Name of the Post | Pay Scale |
| Junior Management Grade Scale – I | 36000-1490/7-46430-1740/2-49910-1990/7-63840 |
| Middle Management Grade Scale – II | 48170-1740/1- 49910-1990/10-69810 |
| Middle Management Grade Scale – III | 63840-1990/5- 73790-2220/2-78230 |
| Senior Management Grade Scale – IV | 76010-2220/4- 84890-2500/2-89890 |
Bank of India Manager Salary 2023: Allowances
The basic wage (grade 1) for a specialist officer is rupees 36,000. Apart from the salary, there are some allowances which are also given to the employees of the Bank of India. It includes:
- DA – Dearness Allowances
- HRA – House Rent Allowances
- TA – Transport Allowances
- Newspaper Reimbursement
- Pension
- Petrol Allowances
- Hospital Bill
- PF Allowances
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Job Profile of Bank of India Manager
Candidates can view the credit officer job description (JMGS-1) below. Candidates are directly hired without any prior work experience only in Scale 1. It is the starting position for a specialist officer.
- The credit officer manages the entire lending procedure and is in charge of disbursing loans.
- The loan applications must be reviewed and analysed by the credit officer as well. He or she can approve or deny the loan application based on the findings.
- To determine if a consumer who applied for a loan is creditworthy, a credit officer reviews a variety of papers. Debt-to-income ratio, CIBIL data, and client income histories are used to evaluate creditworthiness.
- Credit officers are entrusted with keeping an eye on NPAs and tracking repayment progress once loan applications have been approved.
Bank of India Salary: Manager’s Career Growth
Based on their performances, specialist officers have many options to advance to higher levels. The following list outlines the promotion hierarchy that is used in the Bank of India employment process.
- Assistant Manager – Junior Manager Grade Scale 1
- Manager – Middle Management Grade Scale 2
- Senior Manager – Middle Management Grade Scale 3
- Chief Manager – Senior Management Grade Scale 4
- Assistant General Manager – Senior Management Grade Scale 5
- Deputy General Manager – Top Management Grade Scale 6
- General Manager – Top Management Grade Scale 7
Hopefully, this article has mentioned all the details related to the Bank of India Salary structure, and other relevant information that you should know. Join Byju’s – The Learning App and start your preparation for the upcoming Bank Exams.
