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Revised Salary of Bank Employees:

Here we provide you the Revised Salary of Bank Employees. The Indian Banks Association (IBA) has decided to hike the salary of bank employees by 15%. We have added complete details about this bank wage revision latest news 2020. Read the full article to know about the Revised Salary of Bank Employees 2020.

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IBA and Bank Union Finalises 15% Hike:

The Bank officers wage revision is pending since 2017. Now the IBA and the workmen union has finalized the officer and workmen wage settlement.

Clerks Revised Salary:

The Revised Salary of Bank Employees in clerical and sub staff cadres are,

  • The clerks and subordinate staff will get the same basic pay and HRA, irrespective of the work locations.
  • Basic pay of clerks – Rs.17900 to 65830
  • Basic pay of sub staffs – Rs.14500 to 37145
  • HRA – 10.25%
  • Approximate gross salary of clerks at the starting scale – Rs.31000

Officers Revised Salary:

The Revised Salary of Bank Employees in officer cadres are,

  • Basic Pay range of officers – Rs.36000 to 129000
  • 1st scale officers basic pay – Rs.36000 to 63840 (16 annual increments)
  • 2nd scale officers basic pay – Rs.48170 to 69810 (11 annual increments)
  • 3rd scale officers basic pay – Rs.63840 to 78230 (7 annual increments)
  • 4th scale officers basic pay – Rs.76010 to 89890 (6 annual increments)
  • 5th scale officers basic pay – Rs.89890 to 100350 (4 annual increments)
  • 6th scale officers basic pay – Rs.104040 to 116000 (4 annual increments)
  • 7th scale officers basic pay – Rs.116120 to 129000 (4 annual increments)
  • HRA – 9% or 8% or 7% (depends upon the work location)
  • CCA – Rs.1400 (higher cities) and Rs.1150 (lower cities)
  • Approximate gross salary of Officers at the starting scale – Rs.50000

This settlement is applicable to 12 Public Sector Banks and 11 Private Sector Banks.

Private Sector Banks List:

The Private sector banks that come under the new pay scale of bank employees are,

  • Federal Bank
  • Karnataka Bank
  • JK bank
  • South Indian Bank
  • KVB
  • RBL bank
  • Nainital bank
  • KMB
  • IDBI
  • Dhanalakshmi bank

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