Bank of Maharashtra Generalist Officer Salary Structure

Bank of Maharashtra Recruitment 2024

Bank of Maharashtra has announced the recruitment of 400 Officer posts in 2024, inviting applications from interested candidates. To apply for these positions, individuals can visit the official website at bankofmaharashtra.in. This presents a wonderful opportunity for those seeking employment in the banking sector. It is important to review the eligibility criteria and ensure that all requirements are met before submitting the application. Missing out on this chance to become an Officer at the Bank of Maharashtra would mean passing up a promising career in banking. Waste no time and seize the opportunity now by applying and taking a significant step towards a bright future in the banking industry.

Bank of Maharashtra Salary 2024

The Bank of Maharashtra has provided details regarding the salary of Specialist Officers (SO) in its official notification available on the website bankofmaharashtra.in. The Specialist Officers in the Bank of Maharashtra are designated as Officer Scale II and Scale III. Having a clear understanding of the salary structure and job profile is crucial for making informed decisions during the examination process. In this post, we have compiled all the necessary information regarding the Bank of Maharashtra SO Salary for the year 2024. This comprehensive information will help candidates gain insights into the salary package offered and enable them to make well-informed choices while preparing for the examination.

Bank of Maharashtra Scale 2 & 3 Salary 2024

As per the official notification, the Bank of Maharashtra offers the following salary structure for Generalist Officers:

Scale 2 Officer:

• Basic Pay: Rs. 48,170 with annual increments of Rs. 1,740 for the first year and subsequent increments of Rs. 1,990 for 10 years.
• Total Salary: The salary can go up to Rs. 49,910 after 1 year of service and further increase up to Rs. 69,810 over time.

Scale 3 Officer:

• Basic Pay: Rs. 63,840 with increments of Rs. 1,990 every 5 years.
• Total Salary: The salary can go up to Rs. 73,790 after 5 years of service and further increase up to Rs. 78,230 over time.

Bank of Maharashtra Scale 2 & 3 Salary Structure

Selected candidates for the Bank of Maharashtra Generalist Officer position will be on probation for one year. During this period, they will be eligible for various allowances such as Dearness Allowance (D.A), House Rent Allowance (H.R.A) or Lease Rental, City Compensatory Allowance (C.C.A), Medical benefits, and other applicable allowances. The specific allowances may vary depending on the place of posting.

It is important to note that these salary details are based on the official notification, and any changes or revisions to the salary structure will be communicated by the Bank of Maharashtra.

Probation and Service Bond

The selected candidates will have to sign a Service Bond of Rs. 02 lakh to serve the Bank for a minimum period of one year. In case you resign before the Bank of Maharastra Generalist Officer probation period, you have to pay the bond amount to the bank. You have to qualify in the assessment as per standards determined by the Bank from time to time. In case you fail to achieve the minimum standards stipulated, your services will be terminated from the Bank.

BOM Generalist Officer Job Profile

Being a Bank of Maharashtra Generalist Officer, you have to perform certain duties. You should read this Bank of Maharastra Generalist Officer Job Profile in detail to understand the duties and profile completely. You will be responsible for the Business Development of the bank. You will have to maintain liaison with authorities of Govt. / RBI / Public. Monitoring of credit portfolio / Upgradation of NPAs / Recovery in NPAs will also come under your work profile. Some of the duties you are expected to perform as a Bank of Maharashtra Generalist Officer have been given below.

• Exercise sanctioning powers both lending & non-lending / administrative and reporting to higher authorities.
• Carrying out of due diligence on credit proposals assigned, Timely completion of Review / Renewals as Appraiser, including Credit Risk Assessment proposals.
• Meeting customer needs and supervising the job rotation.
• Maintaining public relations and ensuring dealing with the customers and public in person in correspondence and the telephone.
• Ensure maintenance of a stock of security items, passbooks, publicity literature and various forms required for deposits and advance and other transactions.
• Effective cash management.
• Ensuring periodic verification of the securities and attending to the orderly arrangement of joint custody.
• Overall control of housekeeping.
• Monitor and maintain a close watch on current accounts, big accounts, newly opened accounts and other institutional accounts which form sizable shares in total deposits.
• Ensure periodical verification of securities and attend to the orderly arrangement of joint custody items duly getting relevant registers updated as a joint custodian