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1. Bank Officers new salary and arrears as per 12th Bipartite Settlement

   In this post you can learn how to calculate your own salary and arrears of 12th BPS. latest updates for officers with salary calculation, arrears calculation, benefits of CAIIB, Leaves, Allowances and many more are updated here. How to calculate your own salary and arrears is explained. In this blogpost he pay scales of scale 1 and scale 2 mentioned. Newly introduced leave bank and enhancement in the perks like closing allowance, Newspaper allowance of 50% increment and other benefits and highlights of 12th Bipartite settlement is discussed indetail

2. 5 DAY BANKING

   Clause regarding 5 days banking is included in 12th BPS. It is a long awaited demand from the bank unions/association. The 5Day banking is going to be expected to be implemented from June 2024

3. 17% HIKE

   17% Increment in the pay slip of all the banking professions. Gross salary will be hiked by 17%.

4. EXTRA INCREMENT - CAIIB

   Those officers who have completed their CAIIB are going to get extra increment in their pay component. This was implemented in 12th BPS. Previously there were 2 increments for clerical and only one increment for officers.This increment is effective from 1st Nov 2022

5. HRA

   From 8, 9 , 10 percent to 12, 13, 14 percent respectively Increased FOR OFFICERS AND 10.5% FOR ALL CLERKS WITH NO MIN AND MAX LIMIT.

6. LEAVE BANK

   Introduction of leave bank. You can donate your leaves to others who are in need.

7. PL ENCASHMENT

   PL encashment can be done to at the time of retirement to the maximum of 255 days. Previously it was 240 days.

8. TRANSFER ALLOWANCE

   Upon transfer of the officer employee allowance for transfer will be 40,000 rupees. 15 Days lodging/HA will be paid.

9. SPECIAL ALLOWANCE

   SPECIAL ALLOWANCE is increased from 16.4% 26.4%. It does not carry any pension benefits.

10. BASIC PAY

    New basic pay starts at 48480 for officers.

11. HALF DAY LEAVE

    4 HALF day Casual leaves introduced

12. EYE CHECKUP

    500 Rupees per year for eye checkup will be reimbursed

13. FEMALE EMPLOYEES

    All female employees can avail one sick leave per month without medical certificate

14. LEAVE REFUSED

    A Record will be maintained in case management is rejecting/refused the leave applied.

15. CLOSING ALLOWANCE

    Rupees 1500 per quarter closing allowance will be paid. It was 250 rupees as per 11th BPS

16. OFFICIATING PAY

    Minimum of 4 days an employee should work above the scale he is at present. Then officiating pay of 15% of the Basic pay will be paid.

17. LEARNING ALLOWANCE

    Learning allowance of 850 rupees per month will be paid

18. LOCATION ALLOWANCE

    1200 Rupees per month will be paid as location allowance for the officers working in rural and hilly areas (NON CCA)

19. DA SLABS : OLD/NEW

    Nov-22 : 38.92/7.44
    Feb-23 : 41.16/9.41
    May-23 : 41.72/9.9
    Aug-23 : 44.24/12.07
    Nov-23 : 48.51/15.77
    FEB-24 : 48.51/15.77

21. To calculate your gross salary of 12th bps u can Click Here , Just enter your grade, scale and whether CAIIB PASSED OR NOT PASSED

FINAL SALARY CALCULATION



11th BPS salary
basic pay:41960
DA:20354
Special Allowance:10219
Learning Allowance:891
Location Allowance:700
Total salary : 74125







12Th BPS salary Without CAIIB Increment
Basic pay AFTER 4 INCREMENTS AS ON DATE OF WORK EXPERIENCE:56480

NEW BASIC AS PER 12TH BPS 56480
DA:56480*15.73/100= 8884
Special Allowance:(56480+8884)*26.5%= 17321
Learning Allowance:850*15.73/100 (DA)= 983
Location Allowance: 1200
Total salary : 84,868






22. PQP

    This component of pay is payable upon reaching the stagnation. PQP-1 is 1370

23. Pay scales

    For officer scale 1 : 48480 2000/7, 62480 2340/2, 67160 2680/7, 85920
    For Scale 2 : 64820 2340/1, 67160 2680/10, 93

24. Refreshment Allowance

    For officer 2% on basic pay on pay slip

25. ARREARS

    With the implementation of 12th BPS arrears we get approximately is Rs. 84868-74125=10743 per month. As the 12th BPS is due from 17months arrears payable we will get 10743*17=182631 as arrears in 12th BPS
    12Th BPS salary calculation With CAIIB exam Increment
    With CAIIB INCREMENT WE WILL GET 3016 Rs extra every month for Officer scale 1 for the rest of the service in bank.
    With CAIIB INCREMENT ARREARS OF RS 3016*17 = 51272 Rupees for 17 months will be getting
    Total arrears of 12th BPS FOR BANK OFFICERS = 182631 + 51272 = 2,33,903
    Deduction of NPS @ 10% 233903-23390 = 2,10,513
    On this net salary, Levy of 4% will be charged by their respective unions. 8420 will be deducted from net salary. The final net salary as arrears of 12th BPS FOR BANK officer scale 1 will be Rs. 2,02,092 /- .

Contents To be covered

Factors determining the rates (fundamental and technical)
Foreign exchange market Participants
Ready Spot and Forward
FEDAI
FEMA act - 1999
RBI Functions related to Foreign Exchange
DGFT
ECGC
INCO Terms
Direct and Indirect rates
Arbitrage and Speculation
Holiday forex deals
Premium and Discount
Nostro, Vostro, Loro, SNRR, FCNR, RFC  Accounts
EEFC
Direct and Indirect currencies (GEAN)
NTP
Crystallisation of Import bill
Crystallisation of Import bill
Foreign Trade Policy
Trade Credit 
Advance Payment against Import Bill
Advance Payment against Export Bill
Forfaiting Export Finance against Export receivables
Factoring 
Letter of Credit
Correspondance banking
Authorised Dealers
Dealing Room
Cross Rate Problems

For attempting free quiz on foreign exchange Click Here 

Nuances of 12th BPS Insights for Dedicated Bank Professionals :

The 12th Bipartite settlement to bank employees has been finalized. Now everyone looks to calculate their pay slip package based on this hike. Now the salary hike in banks settled to 17% in which a 3% load factor is included in this. Over all on the payslip, you will get a 17% hike. Dearness Allowance(DA) is merged with the present basic. Special allowance is calculated on basic pay and DA which was 16.4 % in the 11th Bipartite settlement. Now this special allowance is not yet finalised as of 7/12/2023. 

12TH BPS SALARY CALCULATION WITH 17 HIKE.

WHAT IS LOAD FACTOR 3% IN SALARY CALCULATION EXPLAINED. 

TOTAL SALARY INCREASE IS EXACTLY  17% AS PER 12 TH BPS SETTLEMENT

12th BPS CALCULATED FOR OFFICERS' SALARIES.

1 LAKH PLUS SALARY IN BANKS.

This is new line

Recently i.e On 11/11/2023 PSU Bank (CANARA BANK) conducted a Promotion test for aspirants of scale 1 to scale 2. Overall 100 general banking questions were asked and 140Min time was given. This is the same as the IBPS pattern exam. These questions cover all the banks that conduct internal promotion tests. Here you will get only 20 to 25 questions that were asked in the exam. This is the moderate-level exam. The reporting time was 1.30 but you can go 15Min late as there will be checking and registering of candidates. IBPS prepares the question paper on behalf of Canara Bank. So the transparency in selecting the candidates through the exam pattern is very good. Many questions are asked based on the policies of the bank. The common policies you need to study will also be mentioned here.

1. PM KUSUM: For components B & C 30% of Project cost is enumerated in DPR. 
2. CSR: Corporate Social Responsibility INDO NEPAL maximum ceiling in BC locations per person per day is 25,000.
3. TAT: What is the Turn Around Time (TAT) to settle the digital transactions.
4. TWO: Technically Write Off in case of Doubtful assets.
5. SARFAESI: In how many days does the Authorised Officer have to serve the sale notice along with the cover letter?
6. FATF: Financial Action Task Force
7. Income Tax: If a person does not have PAN he is to serve the FORM60 under rule 114B
8. Priority Sector Lending: Start-Up company which has engaged in Agri allied activity. The maximum loan amount to be considered under Priority Sector Lending is 50 crore.
9. Risk weight: For housing loans, up to 30 Lakhs is 35%.
10. Interest Subvention: Agri Infra Finance (AIF) will be getting interest subvention of 3% up to 2 crore.
11. Gold reappraisal: Reappraisal should be completed for the previous quarter within how many days? (1month 45days 2months 2.5months 3months)
12. Risk weight: Risk weight is redefined. Business risk _____ percent growth and control risk _____ % growth. (10-90, 15-85 25-75 20-80).
13. NPA: Settlement of NPA's in the MSME Sector with Book Liability less than 2crore for accounts due Rs. ______lakh, and valuation not older than _____ years. (20-3, 10-1, 25-2, 25-1, 15-6)
14. Sale of Pool of Loans: Maximum sale to one trader with regard to "sale of pool of loans" is ___ crores. (500 1000 4000 5000 2500)
15. Soil Note: A portion of a note missing or note is of more than two pieces. This type of note is called a Mutilated note.
16. TLTRO: Full form is Targeted Long Term Repo Operations. The question asked is what does R stands for in TLTRL?
17. Term Deposit: If a Term Deposit matures, it is not closed the rate of interest it carries?
18. Large Branch: Average advances fall between ____ & ___ crore to be classified as large branch?
19. Cheque Return: The Cheque is dishonored for how many times the bank will stop issuing the cheque and close the account.
20. Legal Audit: Legal audit fee for mortgage-based loans charges paid to advocate?
21. UEBT complaint: When does customer entitlement become zero.
22. Debit Card: Platinum card coverage for air accident is 8 Lakhs.
23. Debit Card: Debit card can issued to minors above the age of 10 Years
24. Rating: Internal rating limit is 25 crore
25. Service charge: As per RBI guidelines services charges can be exempted up to Rs. 25,000.
26. Death claim: Death claim should be settled within 15 days after receiving all documents.