Indian Bank SO Salary

Indian Bank SO Salary

The Indian Bank releases a notification regarding the details of the Indian Bank SO Salary and job profile. The Indian Bank SO Salary differs for all the scales of the officers. The appointed candidates will have to serve a 2-year probation period. The selection for the post of SO will be through the Indian Bank SO exam followed by an interview. One of the driving forces we get to prepare for any exam is how lucrative the salary is. Indian Bank promises a bright future with work life balance to its employees.

The salary that an Indian Bank offers to its officers is different, because for each scale, the salary is different. Along with the basic pay, employees are also given perks and allowances. The Indian Bank has yet to release the latest Indian Bank SO Notification. Once it is released all the information you need about the exam will be provided. In the meantime, you can take a look at the detailed information about Indian Bank SO Credit Officer salary for various Scales provided in the table below. This is a pan India job and therefore, you can be posted anywhere in India.

Indian Bank SO Perks and Allowances

The perks and allowances offered to the profiles under Indian Bank SO L not only ensure financial stability but also contribute to the overall well-being and job satisfaction of employees under Indian Bank SO.

• Dearness Allowance: DA is provided to compensate the impact of inflation on the cost of living. It is revised twice a year based on the All India Consumer Price Index (CPI).
• City Compensatory Allowance: Employees are also allowed the City Compensatory Allowance or the CCA along with the basic salary and other benefits.
• House Rent Allowance/Leased Accommodation: HRA is provided to employees to cover their rental expenses. The amount varies depending on the city of posting .
• Leave Fare Concession: The Leave Fare Concession or the LFC employees can travel with their families to any part of the country and be reimbursed for expenses incurred while traveling.
• Medical Aid: Employees are entitled to medical benefits, including reimbursement of medical expenses for themselves and their family members.
• Hospitalization Benefits: Employees are entitled to benefits provided when hospitalization occurs.
• Retirement Benefits: Employees are enrolled in retirement benefits which will help to provide financial security after retirement.

Indian Bank SO Probation period

Candidates selected as Scale 1 officer in Indian Bank will be on probation for a period of 2 years from the date of joining the bank. Candidates selected in Scale 2, 3 and 4 posts will have to be on probation for one year from the date of joining. The confirmation of the selected candidates in the Bank's service will be decided as per the Indian Bank Officers Service Regulations, 1979.

Indian Bank SO Financial cum Surety Bond

Indian Bank requires you to sign a 'Financial cum Surety Bond' to serve the Bank for a minimum of two years. In case you decide to leave the bank before the mentioned time, you will have to pay the Bond amount of Rs. 2 Lakhs (JMGS Scale-1) and Rs. 3 Lakhs (MMG Scale- 2 and above) along with salary of the un-served notice period and the cost incurred by the Bank for imparting training and any other expenses that the Bank has incurred on your behalf. Even before leaving the service you have to serve the notice period. The notice period shall be 3 months of active service.

Job Profile (Indian Bank Credit Officer)

You have to perform specific duties as per the guidelines of the bank after being selected as a Indian Bank Credit Officer. Some of the functions that a Indian Bank Credit Officer performs have been given below.

• An Indian Bank Credit Officer manages relations with collection agencies and credit reporting agencies.
• Responsible for maintaining relations with credit insurance providers.
• Manage relations with the sales department
• He/she maintains a department organizational structure sufficient to meet all goals and objectives.
• They are also responsible to motivate the credit and collections staff
• They also measure the department performance with appropriate metrics
• They also provide training to the credit staff in order to perform better