As one of India’s oldest and most well-known banks, the State Bank of India (SBI) is also one of the most well-known. Of course, it boasts about having among the most customers. The State Bank of India conducts a national-level examination annually to recruit suitable candidates as Probationary Officers (PO). Every banking aspirant’s dream comes true when they get hired by SBI as a Probationary Officer.
Probationary Officer is one of the most demanding and sought-after positions in India. For those who wish to work in the banking and finance industry, it is the ideal option. Every year, all the candidates who are preparing for the bank exam give their best effort to earn the title of Bank PO at the State Bank of India. It’s one of the more lucrative occupations in India’s banking industry. Probationary officers are entitled to a number of extra perks and advantages in addition to their basic salary and holding a prestigious position within SBI.
The job also comes with a lot of responsibilities, and therefore, understanding the roles and responsibilities of an SBI PO would not only help the aspirants to have the edge over other candidates during the interview but also help them understand the kind of work they are signing up for. The following article contains details about the SBI PO job profile, responsibilities, salary, perks, career growth and promotions.
Job Profile and Responsibilities of an SBI-PO
Candidates who successfully complete the three-tier selection process go through a demanding training programme during a two-year probationary term. One is trained and frequently transferred during this time.
- The candidates will be assigned a variety of bank-related tasks throughout the probationary period in order to familiarise them with how the bank operates.
- To help the candidates develop practical knowledge, training will be provided in a number of disciplines, including finance, marketing, billing, accounting and investment, retail (personal) banking, advances and rural banking (agriculture training).
Initially, SBI PO trainees are posted at the JMGS Scale 1. They could be assigned to a local head office, regional business office, SME branch, general banking branch, special branches, corporate offices, zonal offices, or specialised branches like those that handle pension clearing and check clearing, among other places. The PO is responsible for a variety of tasks, such as:
- The POs are in charge of a number of managerial duties, such as overseeing the work of bank clerks, checking documents, monitoring cash balances, staying up to date on bank news, etc.
- The Probationary Officers’ other responsibilities include responding to client inquiries, examining complaints about bank services, issuing ATM cards, demand draft and cheque books, as well as correcting inaccurate charges and account discrepancies.
- When POs have gained enough knowledge and expertise, they are given additional duties like budgeting, loan processing, loan approvals, marketing, and planning and managing investments.
After completing their probationary period, candidates are required to take a screening exam. If successful, they are appointed as Assistant Bank Managers and posted to one of the branches of the SBI. In their capacity as Assistant Bank Managers, candidates need to handle customer transactions, including cash management, draft issuance and passing cheques. In comparison to Probationary Officers at other banks, SBI Probationary Officers have additional duties, difficulties and more possibilities for progress.
Career Growth of an SBI-PO
There is a tonne of prospects for progression with SBI. The SBI PO promotion cycle is rather quick, and one can even advance to the position of group chairman. In SBI, promotions take the following route:
- Probationary Officer (Assistant Manager, JMGS – I)
- Deputy Manager (MMGS)
- Manager (MMGS)
- Chief Manager (MMGS)
- Assistant General Manager (SMGS)
- Deputy General Manager (TEGS)
- Chief General Manager (TEGS)
- General Manager (TEGS)
The SBI-PO promotion system gives outstanding and exceptionally talented officers the chance to advance to the Top Management Grade in a respectably short period of time. Based on their performances, SBI also offers chosen officers assignments abroad. It operates more than 190 overseas operations throughout 36 nations.
SBI-PO Salary and Allowances
SBI is a reputable bank that is well known for paying high salaries. It is a popular choice among bank aspirants for a number of reasons. According to the bank’s official statement, an SBI PO’s annual pay package ranges from a minimum of Rs 8.20 lakhs to a maximum of Rs 13.08 lakhs, depending on the location and other factors.
The current basic salary for Junior Management Grade Scale-I is Rs. 41960 (with 4 advance increments) on the scale of 36000-1490/7-46430-1740/2-49910-1990/7-63840. Along with the SBI Bank PO salary, the employees will also receive other benefits in accordance with the rules, such as the Dearness Allowance, House Rent Allowance, City Compensation Allowance, Travel Allowance, Leave Policies, Monthly Benefits and Smart Compensation. Depending on the location of the work, the SBI PO City Compensation Allowance will vary.
All the aspirants who want to be a part of the SBI bank must start their preparation for the exam by going through the exam syllabus. Knowing the SBI Syllabus helps to prepare for the exam in the right direction and make the exam strategy accordingly, which is a must to prepare for an exam as competitive as SBI-PO.
Candidates must start their preparation right away as SBI is the only bank from India listed among the Fortune 500 companies worldwide. Being a part of such an illustrious organisation speaks volumes, considering how well-known SBI is on its own.