Allahabad Bank: Salary & Allowances – Part I

Grades & Scales of Pay in the Bank

Officers of the Nationalized Banks have been categorized into four grades and seven scales as below :

The four grades show the broad levels of responsibility in the Officers’ cadre. The Officers in the Top Executive Grade hold total corporate responsibility for policy making, review and control. They also hold responsibility for various functional areas of the Bank, e.g. Credit, International Banking, Planning
& Development, Personnel etc.. While Scale VII Executives (General Manager) are also posted as Field General Managers, Scale VI Executives (Deputy General Managers) also hold charge of big Zones and branches (like select IFBs).
At Senior Management level (Scale-IV & Scale-V), the officers may hold charge of Very Large and Exceptionally Large Branches or they may also hold the post of Zonal Head (Scale V only) or give key support to the Top Management. Officers at the Middle Management level (Scale-II & Scale-III) head Medium/Large branches or give key support to the officers at top/senior management grade. The Officers at the Junior Management level (Scale-I) may work as second/third line Officers in branches and other offices of the Bank. They may also work as Manager of Small branches. These Officers may be either directly recruited or promoted from the clerical cadre. Officers in Middle Management and above are usually promoted from the lower grade/scale. In the case of specialists like IT Officers, Personnel Officers, Security Officers, Economists, Law Officers, Hindi Officers, Statisticians etc., as the role of all these officers varies, the grades of these Officers are determined by the Board on the basis of their experience, expertise and standing in their respective fields of specialisation as well as requirements of the Bank. These Officers are either appointed directly or may be taken on deputation from other Banks/Government Departments, depending upon the requirements of the Bank.

Scales of pay : (HOIC No. 11020/ADMN(HR)/2010-11/07 dated 11.06.2010)

Annual Increments

The increments specified in the Scales of Pay as detailed above shall, subject to the sanction of the Competent Authority, accrue on annual basis and shall be granted on the first day of the month in which the same fall due.

Dearness Allowance

The Dearness Allowance is based on the index figures as published in the Gazette of India/Indian Labour Journal circulated through the Indian Banks’ Association. Calculation of DA shall mean the period of 3 months ending on the last day of March, June, September and December. Quarterly revision in the DA is made effective from May, August, November and February respectively. The changes in DA Slabs/amount of DA are circularized by the Bank from time to time.

House Rent Allowance

No Officer shall be entitled as of right to be provided with residential accommodation by the Bank. Whenever an Officer is provided with residential accommodation by the Bank, a sum equal to 1.20% of the Basic Pay in the first stage of scale of pay in which he is placed or the standard rent for the accommodation whichever is less is recovered from the Officer. However, if the said Officer is also provided with furniture at such residence, a further sum equal to 0.25% of Basic Pay will be recovered by the Bank. However, where such residential accommodation is provided by the Bank, the charges for electricity, gas and other maintenance charges are to be borne by the Officer, unless otherwise permitted by the Competent Authority.
Bank’s own accommodation or accommodation leased to the Bank, if any, occupied by the Transferee Officer at his previous place of posting shall be compulsorily vacated on transfer and the Officer shall make his own arrangement for his family members’ accommodation within the rental ceilings applicable at the place of posting unless otherwise permitted by the Competent Authority.

House Rent Allowance shall be paid to an Officer at the following rates:-

Provided that if an Officer produces a rent receipt, the House Rent Allowance payable to him/her shall be the actual rent paid by him/her for his residential accommodation in excess over 1.20% of pay in the first stage of the Scale of Pay in which he/she is placed with a maximum of 150% of the House Rent Allowance payable as per the rates mentioned in the Table above.
The claims of officer employees for House Rent Allowance linked to the cost of their ownership
accommodation shall also be restricted to 150 % of HRA.