State Bank of India (SBI) has advertised for 5280 posts of Circle Based officer (CBO) through advertisement no. CRPD/ CBO/ 2023-24/18 for 16 Circles. If you want to know what is SBI CBO salary 2024 and pay scale in starting on monthly basis. What are the allowances and benefits given. You can find this information on this page in detail.
SBI CBO Pay Scale
The starting basic pay for newly appointment candidate is Rs. 36,000/- per month. The pay scale of these posts is Rs. 36000-1490/7-46430-1740/2-49910-1990/7-63840 applicable to Junior Management Grade Scale-I.
SBI CBO Salary Structure 2024 calculation:
Pay Scale: Rs. 36000-1490/7-46430-1740/2-49910-1990/7-63840
Starting Basic Pay: Rs. 36000 per month
Dearness allowance: 41.16% of basic pay
HRA: 9%, 8%, 7% depending on city
- Rs. 3240 (9% of basic pay) for Major Cities / project cities in Group A
- Rs. 2880 (8% of basic pay) for other places in Area 1 and project area centres in Group B and State of Goa
- Rs. 2520 (7% of basic pay) for other cities.
City Compensatory Allowance (CCA): Rs. 1150-1400 depending on city
Other Allowances includes Learning Allowance, Special Allowance, Location allowance if applicable ie. around 2000
SBI CBO Salary 2024 (total and Net) per month
- Pay Scale : Rs. 36000-1490/7-46430-1740/2-49910-1990/7-63840
- Total Salary in Starting : around 55600-60500 per month
- Deductions: 10% of basic pay + DA + other tax i.e. around Rs. 5500
- Net in Hand Salary per month: Rs. 50100-55000 per month
Increment and Allowances
One increment for each completed year of service rendered in officer cadre in Scheduled Commercial Bank/ Regional Rural Bank is to be given. However, maximum two advance increment can be given, irrespective of the duration of experience gained in previous employment.
Candidate will also be eligible for Dearness Allowance, House Rent Allowance HRA/ Lease rental, C.C.A, Medical and other allowances & perquisites as per rules in force from time to time. All these allowances are added to basic pay to form SBI CBO Salary per month in total.
Joining, Training and Career Path
Those who got selected are to be posted in circle / state for which they have applied. On joining, they will be given designation of “Circle Based Officers” (CBOs). They will be on probation period of 6 months from their joining the Bank. During this probation period, their continuous assessment will be done for judging their suitability for confirmation.
The candidates who qualify in their assessment will be confirmed in Junior Management Grade Scale-I (JMGS-I). If any candidate fails, then their services may be terminated as per policy of the Bank in force at the material time.
The selected officers will be governed by the promotion policy for Bank’s general cadre officers. The selected candidates will not be entitled for inter-circle transfer/ Corporate Centre Posting/ Corporate Centre Establishment Posting/ Foreign Posting up to his/ her promotion to SMGS-IV Grade OR 12 years of service, whichever is later.
You can check Total and Net SBI CBO Salary 2024 with allowance and job profile from above.