Bank of Maharashtra Salary

In this article, we have shared all the details related to the Bank of Maharashtra salary structure, and job profile for your reference. The aspirants must check the Bank of Maharashtra Salary 2023 before applying for the exam. As per the latest official updates, the official notification for the Bank of Maharashtra Generalist Officer was released for the different posts and its salary structure.

Read the section below to know the Bank of Maharashtra scale 2, 3, 4 and 5 salaries 2023.

Bank of Maharashtra Salary: Important Highlights

The salary is an important criterion for the Bank of Maharashtra recruitment process. Aspiring applicants should be familiar with the basic compensation, benefits, and job description of the position they are applying for. The pay for employees varies depending on their role, and they are originally hired for a six-month probationary period. Candidates will also need to pay a bond sum upon selection.

Bank of Maharashtra Salary: Scale 2, 3, 4 & 5 Pay Structure

The pay scale for Bank of Maharashtra recruitment is tabulated as follows.

Scale Range Official Pay Scale
Scale 2 Rs. 48170-1740/1-49910-1990/10-69810
Scale 3 Rs. 63840-1990/5-73790-2220/2-78230
Scale 4 Rs. 76010-2220/4-84890-2500/2-89890
Sacle 5 Rs. 89890-2500/2-94890-2730/2-100350

BOM Salary Scale 2, 3, 4 & 5: Allowances

In addition to the basic pay, the employees of the Bank of Maharashtra also get other allowances. It includes:

  • HRA
  • DA
  • Medical Allowances
  • Lease Rental
  • CCA
  • Pension and other allowances

Bank of Maharashtra Salary: Bond Amount and Probation Period

Candidates hired as employees for Scale 2, 3, 4, and 5 will undergo a 6-month probationary term. They must provide a bond in the amount of INR. 2 lakhs and must serve for a minimum of 2 years of their employment. The probationary time and bond amount are summarised in the table below.

Scale Probation Period Minimum Service Period Bond Amount
Scale 2 6 Months 2 Years INR 2 Lakhs
Scale 3
Scale 4
Scale 5

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Bank of Maharashtra Salary 2023 Scale 2, 3, 4, 5: Job Profile

The employees of the Bank of Maharashtra have to perform their roles and responsibilities properly to get future promotions and other career opportunities. The job description for the aspirants chosen for the Bank Of Maharashtra is provided here.

Forex or Treasury Officer:

  • Responsible for trade forex finance
  • Follow several RBI guidelines, FEDAI rules, and more

Generalist Officer:

  • Look after the branch whole day working process
  • Maintain public relation
  • Look after the cash management process

Chief Manager

  • Look after the coordination among the team members and the department
  • Give strategic inputs to improve the work, economic development and annual Bank report
  • Create a plan for product development and enhancement for both new and existing items.
  • Uphold the safety, efficacy, and security of the technology.

Management Information System – AGM

  • They oversee and administer the MIS Reports created for senior management and different user departments.
  • They create and put into practice MIS policies in order to preserve confidentiality and integrity.

Board Secretary and Corporate Governance – AGM

  • The Board Secretary is required to provide all pertinent data to the board members in the form of agendas and reports.
  • Annually, convene the shareholders’ general meetings.
  • Knowledge of SEBI and LODR-related concerns is required.

Bank of Maharashtra – Career Growth

In the Bank of Maharashtra, employees can advance their careers in positive ways and reach the highest levels. Candidates’ work is meticulously observed, and those who carry out their duties with honesty and determination have an advantage in promotions. Internal promotional exams are held on scales 2, 3, and 4 at regular intervals to allow applicants to advance up the hierarchy.

We believe our readers who are preparing for the next recruitment exam found this post on the Bank of Maharashtra Salary and Job Profile to be useful. Download BYJU’S – The Learning App to have access to practice examinations, classes that are interactive, and questions that will help you prepare for future bank exams.

Frequently Asked Questions on Bank of Maharashtra Salary

Q1

What is the Bank of Maharashtra probation period?

The probation period for the Bank of Maharashtra recruitment process is 6 months. All the candidates have to serve this training period after their final selection.
Q2

What is the Bank of Maharashtra minimum service period?

The minimum service period in the Bank of Maharashtra is 2 years. All the candidates have to serve this period irrespective of their designation.
Q3

In the BOM Salary 2023 Scale 2, 3, and 4, what allowances are included?

The BOM Salary 2023 Scale 2, 3, 4, and 5 includes many allowances, such as rent allowances, dearness allowances, medical allowances, etc.