SBI CBO Salary 2022 – Know the Complete Details of Circle Based Officers Salary
State Bank of India has recruited eligible candidates for the post of Circle Based Officers throughout various circles. This recruitment has to be done based on the circle and mostly in rural areas. The SBI careers have released the SBI CBO Notification on its official site with a huge number of vacancies. The selected candidates will receive an attractive salary package with huge benefits and the opportunities offered to the SBI Circle Based Officers are wonderful and very lucrative. That is the reason most of the candidates have applied to this SBI recruitment.
Candidates who are aspiring to appear for CBO Exam should ensure that they should know the details of the SBI CBO Salary, Payscale, Salary structure, Perks & Benefits & Promotion. The SBI CBO Salary details will induce your interest in the SBI which tends to gear up the preparation process in a good manner. Ok, let’s have a look at this SBI CBO Salary article.
SBI CBO Salary 2022
- SBI CBO Pay Scale – 36000-1490/7-46430-1740/2- 49910-1990/7-63840
SBI CBO In-Hand Salary:
- Previously the SBI CBO In-Hand Salary – Rs. 33,000 to 35,000
- SBI CBO In-Hand Salary Revised – Rs. 50,000 to 52,000.
- The revised SBI CBO Salary is as per the Junior Management Grade Scale-I plus one increment for each completed year of service rendered in officer cadre in Scheduled Commercial Bank/ Regional Rural Bank as of 01.12.2021.
SBI CBO Salary Structure 2022:
As of 01/12/2021, the initial basic pay of the SBI Circle Based Officer is revised to Rs. 36,000/- on the scale of 36000-1490/7-46430-1740/2- 49910-1990/7-63840 applicable to Junior Management Grade Scale-I plus one increment for each completed year of service rendered in officer cadre in Scheduled Commercial Bank/ Regional Rural Bank.
|SBI CBO Salary 2022|
|Pay Scale||36000-1490/7-46430-1740/2- 49910-1990/7-63840|
|Basic Pay||Rs. 36,000|
|Dearness Allowance (DA)||Rs. 16,884|
|House Rent Allowance (HRA)||Rs. 2520|
|City Compensatory Allowances (CCA)||Rs. 1080|
|Other Allowances||Rs. 2000|
|SBI CBO Gross Salary||Rs. 58,484|
|Net Salary||Rs. 50,296.24|
SBI CBO Salary Allowances and Benefits
Along with the SBI CBO salary, candidates can get various perks and benefits as per the norms of the Reserve Bank of India which are as follows-
- Reduced Loan Interest Rates for Housing/Personal Loans/Car Loans
- Travel Concession/Leave Fare Concession
- Leave Travel Concession (LTC)
- Pension Scheme/New Pension Scheme
The details of SBI CBO allowances offered along with SBI CBO Salary are as follows:
|SBI CBO Allowance||Amount|
|Dearness Allowance||46.9% of the Basic Pay|
|City Compensatory Allowance||3% – 4% depending on location|
|House Rent Allowance||7% – 9% depending on the Place of Posting|
|Medical Insurance||100% covered for employee | 75% covered for dependent family|
|Travelling Allowance||AC 2-tier fare is reimbursed to the employee for official travels|
|Petrol Allowance||INR 1,100 – 1,250|
|Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.||Varies based on Cadre|
SBI CBO Job Profile
Along with SBI CBO Salary, candidates must know the SBI CBO Job profile. Here have given the major responsibilities and duties they have to perform after the provisional allotment as Circle Based Officer in the State Bank of India.
1. Typically, Circle Based officers are in charge of managing the core functions of their respective banks.
2. Bank branches must approve Circle Based Officers’ Loan packages.
3. Ensure that all banking operations within the branch are conducted smoothly by the CBO.
4. Keeping healthy relationships with customers is the responsibility of a Circle Based Officer.
5. To streamline the implementation of any new or existing policy.
SBI CBO Promotion:
Recruited candidates will be placed as Junior Management Grade Scale-I (JMGS-I). The probation period will be up to 6 months. After the completion of the probation period, the performance of the employee will be assessed. Candidates will get various opportunities to get promotions. Candidates can get promoted to Senior Management Grade Scale-IV.
- Depending on the rule in place, a candidate’s probation can be extended or even ended if they do not meet the requirements of the organization.
- Candidates who are selected for inner-circle transfers will not be permitted to move until they are promoted to SMGS-IV Grade (or) have completed 12 years of service, whichever is later.