Bank of India PO Salary 2023: Bank of India, a leading Public Sector Bank is conducting a recruitment drive to select eligible Indian citizens for 500 vacancies of Credit Officer and IT Officer in the Bank. BOI PO 2023 Written Exam will be conducted on 19th March 2023 at various exam centers across the country. Candidates should secure minimum qualifying marks in the written test for shortlisting for the further selection process.
Get here all the details on Bank of India PO Salary
Bank of India PO Recruitment 2023 Calendar
|Bank of India PO 2023 Events
|bank of India recruitment notification 2023
|8 February 2023
|Online Application Start Date
|11 February 2023
|Last Date of Online Application
|25 February 2023
|Bank of India PO Admit Card 2023
|bank of India PO exam date 2023
|March 19, 2023
Bank of India PO Vacancy 2023
Bank of India has 350 vacancies for Credit Officers (General Banking Stream) and 150 vacancies for IT Officers (Specialist Stream). Below, we have shared the vacancy details for BOI PO 2023:
|Category-wise distribution of vacancies to be announced
|Other backward classes
|Credit Officer in General Banking Stream
|IT Officer in Specialist Stream
Bank of India PO Salary 2023
Candidates appearing for the Bank of India PO 2023 exam must be familiar with the latest pay scale. Candidates selected as Credit Officer and IT Officer will be offered the basic pay mentioned below along with other allowances and benefits as applicable:
|Junior Management Grade Scale – I (JMGS I)
The basic pay of the Bank of India Probationary Officer will be Rs 36,000. He will get an annual increment of Rs.1490 for the next 7 years. Basic pay after 7 years will be Rs.46430/- followed by an annual increment of Rs.1740/- for the next two years.
The in-hand salary offered will be Rs 52,000 to Rs 55,000 (including DA, CCA, HRA, and other allowances). The gross salary of a BOI PO after deductions come to around Rs 55,000 to 57,000/-.
Bank of India PO allowance 2023
Apart from an attractive pay scale, candidates will also enjoy perks and benefits as a Bank of India PO. The list of allowances offered by the bank includes Dearness Allowance, House Rent Allowance (HRA), Medical Allowance, Transport Allowance, Newspaper Allowance, City Compensatory Allowance (CCA), and Special Allowance.
|Bank of India PO allowances
|Bank of India PO Basic Salary
|Rupee. 36,000/- (increase in 4 steps)
|house rent allowance
|7% -9% of Basic Pay
|23.87% of basic pay (varies based on inflation rates)
|City Compensatory Allowance (CCA)
|3% or 4% (depending on the place of posting)
|7.75% of Basic Pay
Bank of India PO Job Profile 2023
Candidates can check here the roles and responsibilities of Credit Officer (General Banking Stream) and IT Officer (Specialist Stream) in the JMGS-1 Scale.
Roles and Responsibilities of BOI Credit Officer (General Banking Stream)
- Disbursement of loans and monitoring the entire process of lending in the bank.
- Reviewing and analyzing loan applications. A credit officer can approve or decline a loan application.
- Review and conduct documentation procedures to verify the creditworthiness of customers applying for loans. A credit officer can look at the debt-to-income ratio, CIBIL report, and income history of the customers to assess their creditworthiness.
- Tracking NPAs and monitoring loan repayment progress of customers.
BOI IT Officer (Specialist Stream) Roles & Responsibilities
- Development and implementation of IT strategies in line with the business objectives of the Bank.
- Managing the IT infrastructure (hardware, software, and network) of the Bank.
- Identifying and mitigating IT risks and maintaining the security of the Bank’s IT systems.
- Develop and maintain relationships with vendors and other stakeholders.
- Providing technical support to other departments within the Bank.
You can also read the Central Bank of India Apprentice Salary 2023
What is the in-hand salary of the Bank of India PO?
, Candidates selected as Credit Officer and IT Officer will be given in Basic Pay (JMGS I) which is 36000-1490/7-46430-1740/2-49910-1990/7-63840/-. The in-hand salary offered will be Rs 52,000 to Rs 55,000 (including DA, CCA, HRA, and other allowances).
What is the Job Profile of a Bank of India PO Credit Officer?
The Bank of India PO job profile for a Credit Officer involves disbursing loans and overseeing the entire loan process in the bank, reviewing and analyzing loan applications. A credit officer can approve or reject loan applications, review and conduct documentation processes to check creditworthiness, track NPAs and monitor loan repayment progress.