At the beginning the basic pay for the selected candidates is Rs. 16,900/- (Rupees sixteen thousand nine hundred only) with four increments in the scale of Rs 14500-600/7-18700-700/2-20100-800/7-25700 and it is applicable to junior management Grade scale I.
The candidates are eligible for the D.A, H.R. and C.C.A as per the rules. In Mumbai the compensation per year is Rs. 8,00,000/- plus.
The monthly compensation is under,
- Cash component - Rs. 30,370
- Bank’s contribution to PF & pension scheme - Rs. 4,673
- Housing (Leasing Rental) - Rs. 29,500
- Perquisites (Conveyance, Newspapers, Entertainment -allowance, House & Furniture Maintenance etc - Rs. 4,130
The officers can also get the benefits like,
- Medical aid for self (100%) and for family (75%)
- Home travel concession/ Leave fare concession
- Concessional interest rates for housing/car/personal loans