Canara Bank PO Salary 2018-19: Canara Bank, a renowned public sector Bank, invited application for the post of Probationary Officer in Junior Management, Grade Scale-I. The selection process involves three stages. The Online Objective Test will be conducted on 23rd December 2018. Candidates who clear the exam will be called for Group Discussion and Personal Interview. Upon getting selected, candidates will have to go for a PGDBF – Post Graduate Diploma in Banking and Finance course either from Manipal Global Education Services Pvt Ltd, or NITTE Education International Pvt Ltd.
Candidates who have applied for the exam must know about Canara Bank PO Salary, allowances and other benefits as well as the job description of the post.
This article will provide you with all these information. Read on to find out.
Canara Bank PO Salary 2018-19
Before getting to the details of Canara Bank PO Salary, let us have an overview of the exam:
|Name of the Exam||Canara Bank Probationary Officer Exam 2018|
|Conducting Body||Canara Bank|
|Online Registration Starts||23rd October 2018|
|Online Registration Ends||13th November 2018|
|Payment of Fees||23rd October 2018 to 13th November 2018|
|Release of Call Letter||4th December 2018|
|Date of Online Test||23rd December 2018|
|Number of Stages||3|
|Stages||Online Objective Test, Group Discussion and Interview|
|Negative Marking||0.25 %|
|Duration of the Exam||2 Hours|
|Probation Period||1 year|
Canara Bank PO Salary 2018-19: Canara Bank PO Pay Scale
As per Canara Bank PO Notification 2018, the pay scale for Canara Bank PO is as under:
This means, the starting Basic Pay is Rs 23,700 with an annual increment of Rs 980 for the next 7 years, after which the Basic Pay will Rs 30,560, and so on.
In addition to the Basic Salary, Canara Bank PO Salary also includes other allowances:
- a. Dearness Allowance (DA): DA is revised quarterly on the basis of Consumer Price Index (CPI).
- b. House Rent Allowance (HRA): HRA is calculated on the basis of the location of the posting.
- c. City Compensatory Allowance (CCA): It is given as cost of his livelihood.
- d. Medical Aid: Medical Aid will also be provided as per the rules and regulations of Canara Bank.
- e. Leave Fare Concession: Probationary Officers can avail this benefit for themselves and for their family, which entirely depends on the eligibility criteria solely decided by the Bank.
Canara Bank PO Salary: Incentives, Stipend & Loyalty Bonus
Along with the above-mentioned salary and allowances, candidates will also get incentives, stipend, and loyalty bonus as per the rules and regulations of Canara Bank.
|Incentives, Stipends & Reimbursement To Candidates|
|1. Bank may reimburse the fees of the programs, which are completed by the candidates during the program. Bank can also pay the incentives to the candidates after joining as Probationary Officer.|
|2. Candidates will also get a stipend of Rs. 10000 during the 3 months internship with the Bank.|
|3. Bank has a fixed amount of Rs, 4000 towards Uniform expenditure of the candidates.|
Rules for Providing Loyalty Bonus to Canara Bank PO: Canara Bank will reimburse the fees of the candidates paid during the course, as a Loyalty Bonus. Instalments will be paid from 5th to 10th Year of joining the bank as Probationary Officer. The candidate has to be a regular employee of the bank, and then the only bank will repay the education loan.
Canara Bank PO Salary 2018-19: Canara Bank PO Job Profile
For some aspirants, knowing the job profile of probationary officer can also be the deciding factor for writing the exam. Keeping that in mind, we are providing you with the detailed Canara Bank PO job description.
- Customer Handling: Probationary Officers working with Canara Bank have to handle customers on a daily basis. PO has to provide solutions to all the customer problems at the earliest and try to provide them with 100% service satisfaction to retain them.
- Payment Clearance: Probationary Officers are supposed to keep an eye on all inward and outward payments, and try to make them as smooth as possible.
- Loan Processing: Processing of loans for customers, checking their documents and verify them are few of the activities which come in the job chart of Canara Bank Probationary Officers.
- Generating New Businesses: Selling bank accounts, promoting the bank, selling insurance and other marketing related activities through which Bank gets new businesses also comes under Probationary Officers’ work.
- Reporting: Creating and maintaining daily, weekly or monthly reports is another duty of a PO.
Please note that all the tasks mentioned above are general responsibilities of Canara Bank Probationary Officers. It can vary from time to time depending upon the situation of the Bank and the management’s decision.
We hope all the necessary information about Canara Bank PO Salary, allowances, job description, etc. have been provided in this article. You can see why you should give your best shot in the exam. Canara Bank is a great place to start your career and grow at both personal and professional level. So, make the best use of the remaining time and finish the Canara Bank PO syllabus thoroughly.
To prepare well, aspirants can take Embibe’s Bank Mock Test Series, which are available for free, to check their strong and weak points. These tests will be helpful in improving your problem-solving abilities and test-taking skills, which, in turn, will result in score improvement.
If you have any query regarding Canara Bank PO Salary, drop down your questions in the comment box below and we will get back to you at the earliest.
All The Best!