Bank of Maharashtra SO Salary 2023, Structure, Perks & Allowances

Bank of Maharashtra SO Salary 2023

Bank of Maharashtra SO Notification has been announced for the posts of Credit Officers (Scale II and Scale III). One of the important aspects that attract candidates to these positions is the salary offered by the organization. The Bank of Maharashtra SO Salary 2023 includes basic pay as well as various perks and allowances. The allowances and perks added to the basic salary make it more attractive. Here in this space, we have given all the information on the Bank of Maharashtra Credit Officer Salary 2023.

Bank of Maharashtra SO Salary

The Bank of Maharashtra SO Salary 2023 is mentioned in the official notification as released on the official website @ bankofmaharashtra.in. The Specialist Officers in the Bank of Maharashtra are officially referred to as Officer Scale II and Scale III. The details on salary and job profile are a must to make better choices in the examination. Here in this post, we have covered all the information on the Bank of Maharashtra SO Salary 2023.

Bank of Maharashtra SO Salary 2023: Overview

The candidates looking for an opportunity in the banking sector can now make use of skills and work experience to join the Bank of Maharashtra as Specialist Officer. Here candidates can get a brief overview of Bank of Maharashtra Credit Officer Salary 2023.

Bank of Maharashtra Credit Officer Salary Structure 2023

The official notification has the Bank of Maharashtra SO Salary Structure in detail. The basic pay for Officers in Scale II is Rs. 48170 – 1740/1 – 49910 – 1990/10 – 69810 and for Officers in Scale III is Rs. 63840 – 1990/5 – 73790 – 2220/2 – 78230. They will also be eligible for a number of allowances that make the overall salary structure very lucrative. Here we have given all the details on the Bank of Maharashtra SO Salary Structure 2023.

Bank of Maharashtra SO Allowances and Benefits

In addition to the Bank of Maharashtra SO Salary 2023, selected candidates are entitled to various allowances and benefits that enhance the overall attractiveness of the salary package. Here are the details on allowances and benefits offered as per the salary structure.

1. DA (Dearness Allowance): Paid as per the scale and location, in accordance with the bank’s prescribed norms.
2. HRA (House Rent Allowance): Provided based on the scale and location of the candidate’s posting, as per the bank’s guidelines.
3. Leased Accommodation (if applicable): Offered based on the bank’s prescribed norms and availability, if the candidate is eligible.
4. CCA (City Compensatory Allowance): Provided based on the place of posting to compensate for the higher cost of living in certain cities.
5. Medical Benefits: Candidates are eligible for reimbursement of medical expenses as per the prevailing rules and regulations.
6. LTC (Leave Travel Concession): Eligible candidates can avail of leave travel benefits as per the bank’s policies and guidelines.
7. Terminal Benefits: Includes gratuity, provident fund, and pension, which are provided as per the prevailing rules and regulations of the bank.
8. Other Perquisites: Additional allowances such as mobile allowances or fuel allowances may be provided based on the bank’s policies and guidelines.

Bank of Maharashtra SO Bond and Probation

The candidates who will be selected as Credit Officers will have to sign a bond and there will be a probation period of 2 years. The official notification has all the details on bond and probation, which we have listed below.

Bank of Maharashtra SO Job Profile

Here candidates can get a brief idea on the job profile of Bank of Maharashtra SO. The candidates can get the details on the job profile from the official notification.

1.  Branch Control and Business Development.
2.  Performance Budgeting and Credit Monitoring.
3. Sanctioning Powers and Reporting.
4. Credit Proposal Evaluation and Risk Assessment.
5. Turnaround Time and ABS Compliance.
6. Credit Analysis and Appraisal.
7. Pre-Sanction Compliance and Risk Assessment
8. Customer Service and Correspondence:
9. Housekeeping and Compliance.