This article will provide CANARA BANK PO Salary Structure, Pay Scale, Allowances and Benefits 2022.

SALARY & EMOLUMENTS AFTER JOINING CANARA BANK ON SUCCESSFUL COMPLETION OF THE PGDBF COURSE:

ScaleThe Salary & Emoluments
JMGS-I` Rs 23700 – 980/7 – 30560 – 1145/2 – 32850 – 1310/7 – 42020 

HRA, Dearness Allowance, CCA, Medical Aid, Leave Fare Concession etc. and Perquisites like Conveyance, Furniture etc., depending on the place of posting, shall be paid as per rules.

CANARA BANK PO (PROBATIONARY OFFICERS) SALARY STRUCTURE 2022

Pay ScaleState-levelDistrict levelMetro Cities
Basic SalaryINR. 23700INR. 23700INR. 23700
Dearness Allowance (DDA)INR. 12206.69INR. 12206.69INR. 12206.69
House Rent Allowance (HRA)INR. 1896INR. 1659INR. 2133
Special AllowanceINR. 1836.75INR. 1836.75INR. 1836.75
City Compensatory Allowance (CCA)INR. 600NilINR. 870
Total SalaryINR. 40,239.54INR. 39,402.54INR. 40,746.54

The selected candidates can expect the In-hand salary in the range of INR. 36,000 to 38,000.

LOYALTY BONUS

By the end of the fifth service year at the bank, it will refund the entire course fee to successful applicants with a loyalty bonus deferred in equal annual instalments. If a candidate has availed education loan towards payment of Course Fees, payment of loyalty bonus as above is subject to regular payment of the educational loan.

Incentives to students: Canara Bank PO salary

  • On successful completion of certification courses by the candidate, the Bank may consider reimbursement of such fees and payment of incentives after joining the Bank.
  • Payment of stipend of Rs 10,000 per month to the candidates during their internship period of three months.
  • Reimbursement towards expenses incurred for purchasing uniforms of Rs 4,000 for each candidate whichever is less.

CANARA BANK PO SALARY ALLOWANCES AND BENEFITS 2022

  • Dearness Allowances (DA) is the salary of living regulations allowances as long as the government pays to the public sector employee and the pensioners of the same.
  • House Rent Allowances (HRA) – This is a requital given to the employee as a stay comfort.
  • Medical Aid – Medical Aid will also be given as per the rules of Canara Bank for PO Post.
  • Leave Fare Concession – PO or Probationary Officers can avail this advantage for themselves and their families, based on the eligibility criteria solely decided by the Bank.
  • City Compensatory Allowance (CCA) – CCA is a taxable component of cost given to the employee to compensate them for working in the big metro city to support them to live in the good. It is the confirmed salary rather than intended on the basic PayScale. City Compensatory Allowance for Bank PO typically posts 0%, 3%, and 4% based on the places.
  • Special Allowance – Special allowance gives families to the Canara Bank PO only Grade first officers are published from these benefits. These are the performance-based bonuses given to Canara bank employees depending upon their performance and per day.
  • Perquisites – the benefit of profit provided to the employee in extra to their regular salary. It includes newspaper allowance and medical allowances, post-travel allowances conveyance, house and furniture allowance, and house maintenance and laundry.

ADDITIONAL BENEFITS

The Canara Bank job sector is ideal for most aspiring candidates looking for a job for the additional benefits that come with it. After crossing their probation period in the Canara Bank PO post, the candidate can profit off these benefits. Except for your job safety, the employee will enjoy some additional benefits. These are mentioned in this article below:

  • Loyalty bonus
  • Incentives
  • Newspapers
  • House rent
  • Child Safety
  • Medical benefits
  • Travel concession and leave
  • Job training
  • Health Insurance
  • Increment Benefits
  • House Maintains
  • Furniture.

CANARA BANK PO JOB PROFILE

Roles and Responsibilities:

  • Multitasking: PO operations include all administrative tasks such as overseeing paperwork, making decisions for the benefit of the bank, and managing cash on hand. They work in several segments of banking.
  • Customer services: Foremost work of any officer in the bank is handling customers and providing a solution to their queries. This can be related to any banking service like document requirement, account statement, issuing cheque books, ATM cards, DD; and opening new accounts etc.
  • Office work supervision and handling: All office work is carried out under the supervision of the PO. Following the clerk, PO is the second person to handle cash transactions. They have made great strides in managing all types of cash deposits and withdrawals. The PO approves all transactions made by the clerk.  
  • Business Formation- This includes activities such as promoting banking products, opening new accounts, selling insurance, and mortgages, depending on the bank’s policy. The promotion of various products and services by banks and their partners, such as time deposits, investment funds and insurance policies, enriches the business. Payment Clearing-PO must manage all clearing systems for inbound and outbound clearing payments. 
  • ATM-related queries- You may be assigned to ATM-based queries such as Requests and other similar issues.

CANARA BANK PO CAREER GROWTH AND PROGRESSION

  • Scale I: Officer, i.e. PO
  • Scale-II: Manager
  • Scale III: Senior Manager
  • Scale IV: Chief Manager
  • Assistant General Manager
  • Deputy General Manager
  • General Manager
  • Executive Director (ED)
  • Chairman and Managing Director (CMD)

CANARA BANK PO FAQS 2022

Q: How much does a Canara Bank PO make per month?

A: The Canara Bank PO makes at least Rs.40000 to Rs.42000 per month.

Q: What is the basic salary of Canara Bank PO?

A: The basic salary of Canara Bank PO is Rs.23700.

Q: Which is the minimum pay scale for Canara Bank PO?

A: The minimum pay scale for Canara Bank PO is Rs.23700.

Q: Do you get a salary after the Canara Bank PO exam?

A: No, salary is received once the candidate joins the department as a Canara Bank PO.

Q: Is there any career growth for the Canara Bank PO?

A: Yes, the candidates can be promoted to the Chairman and Managing Director post.

CONCLUSION

Canara Bank is the best place to boost your career opportunity and grow professionally and personally. Along with the basic pay scale, Canara Bank PO staff are also allowed with significant allowances like Housing Rent Allowance, Dearness Allowance and Medical Allowances. Therefore, make the best use of the remaining time and thoroughly complete the Canara Bank PO syllabus to enjoy these perks.

By khushi

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