12th Bipartite Wage Settlement Expected Salary for Bankers

 The 12th Bipartite wage settlement is due on 01.11.2022. The salary and other wage components of public sector banks and some private sector banks shall be decided after discussion between UFBU and IBA under 12BPS. The discussions generally last for 2 to 3 years after which the bankers are paid increased salaries along with arrears. The payment of increased salary under the 12 bipartite settlement is only expected in the year 2025.

While it is very difficult to know the exact structure of salary under the 12 bipartite settlement, we have tried to calculate the expected salary under the 12 BPS based on previous bipartite settlements. The expected salary as per the table below shall be updated in the future as and when we get updates about the discussions on the 12th Bipartite Settlement and other contributing factors like Dearness allowance etc.

Subordinate Staff
Existing Basic Pay	Existing Other Allowances	Existing Salary	Expected Basic pay	Expected Other Allowances	Expected Salary	Expected Increase in Salary
14500	10239	24739	19773	7965	27739	3000
15000	10565	25565	20455	8219	28674	3110
15500	10890	26390	21137	8473	29610	3220
16000	11216	27216	21819	8727	30546	3330
16500	11541	28041	22500	8981	31482	3441
17115	11942	29057	23339	9294	32633	3576
17730	12342	30072	24178	9606	33784	3712
18345	12742	31087	25016	9919	34935	3848
18960	13143	32103	25855	10231	36086	3983
19575	13543	33118	26694	10543	37237	4119
20315	14025	34340	27703	10919	38622	4282
21055	14507	35562	28712	11295	40007	4445
21795	14989	36784	29721	11671	41392	4608
22535	15470	38005	30730	12047	42777	4772
23405	16037	39442	31916	12489	44405	4963
24275	16603	40878	33103	12931	46034	5155
25145	17170	42315	34289	13373	47662	5347
26145	17821	43966	35653	13881	49534	5568
27145	18472	45617	37017	14389	51405	5788
28145	19123	47268	38380	14897	53277	6009
29145	19774	48919	39744	15405	55148	6229
30145	20425	50570	41108	15913	57020	6450
31145	21076	52221	42471	16421	58892	6670
32145	21727	53872	43835	16928	60763	6891
33145	22378	55523	45199	17436	62635	7111
34145	23030	57175	46562	17944	64507	7332
35145	23681	58826	47926	18452	66378	7553
36145	24332	60477	49289	18960	68250	7773
37145	24983	62128	50653	19468	70121	7994
Clerical Staff
Existing Basic Pay	Existing Other Allowances	Existing Salary	Expected Basic pay	Expected Other Allowances	Expected Salary	Expected Increase in Salary
17900	12453	30353	24410	9693	34102	3749
18900	13104	32004	25773	10201	35974	3970
19900	13755	33655	27137	10708	37845	4190
20900	14406	35306	28500	11216	39717	4411
22130	15207	37337	30178	11841	42019	4682
23360	16008	39368	31855	12466	44321	4954
24590	16808	41398	33532	13091	46623	5225
26080	17779	43859	35564	13848	49412	5553
27570	18749	46319	37596	14605	52201	5882
29060	19719	48779	39628	15361	54989	6211
30550	20689	51239	41660	16118	57778	6539
32280	21815	54095	44019	16997	61016	6921
34010	22942	56952	46378	17876	64254	7302
35740	24068	59808	48737	18755	67492	7684
37470	25194	62664	51096	19633	70730	8065
39200	26321	65521	53455	20512	73968	8447
40930	27447	68377	55815	21391	77206	8828
42660	28574	71234	58174	22270	80443	9210
45930	30703	76633	62633	23931	86564	9931
47920	31998	79918	65347	24942	90288	10370
49910	33294	83204	68060	25952	94013	10809
51900	34590	86490	70774	26963	97737	11248
53890	35885	89775	73488	27974	101462	11687
55880	37181	93061	76201	28985	105186	12125
57870	38477	96347	78915	29996	108911	12564
59860	39772	99632	81629	31007	112635	13003
61850	41068	102918	84342	32018	116360	13442
63840	42364	106204	87056	33028	120084	13881
65830	43659	109489	89770	34039	123809	14320
Officers
Existing Basic Pay	Existing Other Allowances	Existing Salary	Expected Basic pay	Expected Other Allowances	Expected Salary	Expected Increase in Salary
36000	23767	59767	49092	17991	67083	7316
37490	24689	62179	51124	18682	69806	7627
38980	25611	64591	53155	19373	72528	7938
40470	26532	67002	55187	20064	75251	8249
41960	27454	69414	57219	20755	77974	8560
43450	28376	71826	59251	21445	80696	8871
44940	29297	74237	61283	22136	83419	9182
46430	30219	76649	63315	22827	86142	9493
48170	31296	79466	65688	23634	89321	9856
49910	32372	82282	68060	24440	92501	10219
51900	33603	85503	70774	25363	96137	10634
53890	34834	88724	73488	26286	99773	11050
55880	36065	91945	76201	27208	103410	11465
57870	37296	95166	78915	28131	107046	11880
59860	38527	98387	81629	29054	110682	12296
61850	39758	101608	84342	29976	114319	12711
63840	40989	104829	87056	30899	117955	13126
65830	42220	108050	89770	31822	121591	13542
67820	43451	111271	92483	32744	125228	13957
69810	44682	114492	95197	33667	128864	14372
71800	45913	117713	97911	34590	132500	14788
73790	47144	120934	100624	35512	136137	15203
76010	48517	124527	103652	36542	140193	15666
78230	49890	128120	106679	37571	144250	16130
80450	54046	134496	109706	40794	150501	16200
82670	55496	138166	112734	41884	154618	16452
84890	56946	141836	115761	42974	158735	16899
87390	58579	145969	119170	44201	163372	17402
89890	60212	150102	122579	45429	168008	17906
92390	61845	154235	125989	46656	172644	18409
94890	63478	158368	129398	47883	177281	18913
97620	65261	162881	133120	49223	182344	19463
100350	67044	167394	136843	50564	187407	20012
104240	70972	175212	142148	55316	197464	22252
107210	72952	180162	146198	56855	203053	22892
110180	74931	185111	150248	58394	208642	23531
113150	76910	190060	154298	59933	214231	24171
116120	78890	195010	158348	61472	219821	24811
119340	81036	200376	162739	63141	225880	25504
122560	83182	205742	167130	64809	231940	26198
125780	85328	211108	171521	66478	237999	26891
129000	87474	216474	175912	68147	244059	27585

UP labourer goes to withdraw Rs 100, finds Rs 2,700 crore in bank account

A UP labourer was shocked after he withdrew Rs 100 from his bank account only to receive an SMS that showed a balance of Rs 2,700 crore in his Jan Dhan account.

Bihari Lal, 45, from Kamalpur village in Chhibramauu Kowali police area of Kannauj, withdrew Rs 100 from his Bank of India 'Jan Dhan' account in his village on Monday. After withdrawing the money, Lal received a message from the bank which stated that he had more than Rs 2,700 crore in his account.

When Lal told the bank operator about the message and asked to cross-check his account, the official was also baffled.

The branch operator told Lal that Rs 27,07,85,13,985 were credited to his account.

Lal works at a brick kiln unit in Rajasthan and earns around Rs 600 to Rs 800 a day. He had returned to his hometown as the brick kiln unit was shut due to the monsoon.

"When the 'bank mitra' checked and apprised me regarding the balance amount, I was awestruck. I then asked him to check my account again, after which he checked it thrice. Even after this when I could not believe it, he took out the bank statement and gave it to me. I saw Rs 2,700 crore lying in my account," Lal was quoted as saying by TOI.

However, Lal's happiness was momentary. When Lal then checked his account at a nearby branch of the Jan Seva Kendra, he found out that the balance was only Rs 126.

Lead district manager Abhishek Sinha said that the account was investigated and it had only Rs 126. "It could apparently be a banking error, the account of Bihar Lal has been seized for a while and the matter has been brought to the knowledge of senior bank officials," he said

Bank Privatisation Bill Not Listed for Current Session

Top 25 Defaulters in India Public Sector Bank

SAIL Recruitment 2022 – Apply Online for 200 Trainee Posts

Name of the Post: SAIL Trainee Online Form 2022

Post Date: 02-08-2022

Total Vacancy: 200

Brief Information: Steel Authority of India (SAIL)has published notification for the recruitment of Trainee vacancy in Odisha Location. Those Candidates who are interested in the vacancy details & completed all eligibility criteria can read the Notification & Apply Online.

Steel Authority of India (SAIL)    Trainee Vacancy 2022   Download Mobile App
Important Dates Starting Date to Apply Online: 05-08-2022 Last Date to Apply Online: 20-08-2022
Age Limit (as on 01-08-2022) Minimum Age: 18 Years Maximum Age: 35 Years Age relaxation is applicable to SC/ ST/ OBC candidates per rules
Qualification Degree (Mechanical, Metallurgy, Electrical, Chemical, Instrumentation & Mining Engg)
Vacancy Details
Discipline Name	Total	Educational Qualfiication
Medical Attendant Trainee	100	Matric
Critical Care Nursing Trainee	20	Diploma (GNM), B.Sc (Nursing)
Advanced Specialized Nursing Trainiee	40	Diploma (GNM), B.Sc (Nursing)
Data Entry Operator/ Medical Transcription Trainee	06	10+2, PGDCA
Medical Lab. Technician Trainee	10	DMLT
Hospital Administration Trainee	10	BA/BBA/PG Diploma/ Degree
OT/ Anesthesia Assistant Trainee	05	10+2
Advanced Physiotherapy Trainee	03	BPT
Radiographer Trainee	03	Diploma
Pharmacist Trainee	03	D.Pharm, B.Pharm
Interested Candidates Can Read the Full Notification Before Apply
Important Links
Apply Online	Available on 05-08-2022

Top 21 Banking Interview Questions and Answers are:

Top 21 Banking Interview Questions and Answers are:

Question 1: Brief me about yourself?

Answer: It is the first fundamental question that every interviewer asks a candidate to start the conversation and know about the person. So, always be positive and introduce yourself starting with your name, qualification and all the other required information that is important for an interviewer to know.  Just complete it within 2 minutes so that it should not be extended as a boring conversation.

Question 2:  Why do you want to join the banking sector?

Answer:  In this question, be logical and answer it by telling why banking sectors have influenced people with all the facts and figures, ready as to why the banking sector is the fastest-growing sector. Do not start by telling that you want to have a stable career or some personal view.  Just make it well versed which can form a correct opinion of your answer.

Question 3: What are the types of accounts in a bank?

Answer:  Be straight forward and start your answer by telling the information which can match the question asked by an Interviewer.  The types of accounts in banks are:

• Checking Account:  You can access the account as saving account but, unlike saving account, you cannot earn interest on this account. The benefit of opening a checking account in a bank is there is no limit for withdrawal.
• Money Market Account:  This account gives both the benefit of savings account and checking accounts.  You can withdraw the amount and yet you can earn higher interest on it.  This type of account can be opened with a minimum balance.
• Certificate of Deposit Account (CD):  By the opening of such account you have to deposit your money for the fixed period like five years or seven years, and you will earn the interest on it. The rate of interest will be decided by the bank, and you cannot withdraw the funds until the fixed period expires.
• Saving Account:  You can save your money in such account and also earn interest on it.  The number of withdrawal is limited and need to maintain the minimum amount balance in the account to remain active.

Question 4: What are the necessary documents a person requires to open an account in a bank?

Answer: As per the RBI advised banks to follow the Know Your Customer (KYC) guidelines where the bank obtains some personal information of the account holder.  The primary document that is needed to open an account are photographs, proof of identity proof like Aadhar card or Pan Card etc., and address proof as well.

Question 5:  What are the types of Commercial Banks?

Answer: The types of Commercial Banks are:

• Retail or Consuming Bank: - It is small to the midsize branch that directly deals with consumer’s transaction rather than corporate or other banks.
• Corporate or business banking: - Corporate banking deals with cash management, underwriting, financing and issuing of stocks and bonds.
• Non- traditional Options: - There are many non-banks entities that offer financial services like that of the bank. The entities include credit card companies, credit card report agencies and credit card issuers.
• Securities and Investment Banking: - Investment banking manages portfolios of financial assets, commodity and currency, corporate finance, fixed income, debt and equity writing etc.

Question 6:  What is the annual percentage rate (APR)?

Answer:  APR is known as the Annual percentage rate. It is a charge or interest that the bank imposes on their customers for using their services like loans, credit cards etc.  The interest is calculated annually.

Question 7:  What is Amortization and negative amortization?

Answer:  Amortization refers to the repayment of the loan by instalment to cover principal amount with interest whereas, negative amortization is when the repayment of the loan is less than the loans accumulated interest, then negative amortization takes places.

Question 8:  What is the debt to income ratio?

Answer:  Debt to income ratio is calculated by dividing a loan applicant’s total debt payment by his gross income.

Question 9: What is loan grading?

Answer:  Loan grading is the classification of the loan based on various risks and parameters like repayment risk, borrowers credit history etc.  The system places a loan on one to six categories, based on the stability and risk associated with the loan.

Question 10: What do you mean by Co-Maker?

Answer:  A person who signs a note to guarantee the payment of the loan on behalf of the main loan applicant’s is known as Co-maker or signer.

Question 11: What is the line of credit?

Answer:  Line of credit is an agreement between the bank and a borrower, to provide a certain amount of loans on borrower’s demand. The borrower can withdraw the amount at any moment and pay the interest only on the amount withdraw.

Question 12:  How banks earn a profit?

Answer:  The bank earns profit in various ways:

• Accepting deposit
• Banking Value chain
• Interest spread
• Providing funds to borrowers on interest
• Additional charges on services like checking account maintenance, online bill payment etc. 

Question 13: What is the payroll card?

Answer:  Payroll cards are types of smart cards issued by banks to facilitate salary payments between employer and employees.  Through payroll card, the employer can load salary payments onto an employee’s smart card, and employee can withdraw the salary even though if he or she doesn’t have an account in the bank.

Question 14: What is the card-based payment?

Answer:  There are two types of card payments:

• Credit Card Payment
• Debit Card Payment

Question 15:  What is a Payday loan?

Answer: A Payday loan refers to a small amount and a short term loan available at the high-interest rate.

Question 16: What is a charge off?

Answer: Charge off is a declaration by a lender to a borrower for non- payment of the remaining amount when borrower badly falls into debt. The unpaid amount is settled as a bad debt.

More related questions for banking interview:

Question 17: What are the different types of loans offered by commercial banks?

Question 18:  What are the different types of fixed deposit?

Question 19: What is a home equity loan?

Question 20:  What is the interbank deposit?

Question 21:  What are the non-performing assets of the company?

So, these are the question and answer that can easily help you to clear the interview panel and get the job position in the banking sector.  You can also surf for more questions through Google that can lend you as a helping hand.