Meaning of PO Clerk

 in the bank is the starting level appointment for bank officers. The POs have a one or two years probation period during which they are given exposure to various important functions of the bank such as Loans & Advances, Foreign exchange, Credit Rating, Treasury, Risk Management, IT, Marketing etc.

Vacancies in officers cadre in public sector banks are filled from within the organization after promotion of clerks and also by direct recruitment. To meet the shortage of manpower in officers cadre, now a days the public sector banks are required to recruit large number of officers. Most of the vacancies for which recruitments are made are in junior management Graduate Scale I, which is the entry level position for joining a public sector bank as an officer. This entry level position is known as that of probationary officer or management trainee. Bank probationary officers can come from any discipline or field of study, although there is a misconception that only people from commerce or finance background are eligible. A finance or commerce background may help the candidate adjust to the banking environments faster than others but banks recruit talents from diverse backgrounds of science, literature etc.

There is a well defined career progression path in each public sector bank. Performance and potential are key elements which determine this career progression. Most senior officials in public sector banks started their career as clerk or scale I officer only. In tune with the time banks have reviewed their promotion policy and now for bright, hardworking and knowledgeable employees it takes less time to move to higher scales. In may banks a person who joined as an officer may reach to the position of General Manager in 14 years. After that one can aspire for the position of executive director or chairman of a bank. These are very high positions, nomination to which is decided by the Government and not by the individual banks.
Many public sector banks have a network of foreign branches. Thus joining a public sector bank gives you the opportunity of working abroad also. Transferability in a bank job provides you the chance of seeking different parts of the country.

Typical Salary Structure of a Bank PO - Entry Level (Indicative)

Particulars Monthly Annually
Basic 14500 174000
DA 8722 104661
HRA* 0 0
CCA 540 6480
MedicalAid   5100
Entertainment   4600
House Maintnce 300 3600
Books/Newsprs   2800
Petrol 2000 24000
Canteen Subsidy 250 3000
Pension -2322 -27866
Rent Dedn -300 -3600
Taxable Salary 23690 300375
Less Tax 771 9251
In Hand Salary 22919 291124.02
House Lease# 8000 96000
Bank's Pension share 2322 27866
CTC 452107 4.5 Lac per Anum

(*HRA is not taken into consideration because of lease accommodation; #House Lease ranges frm 4 to 12 percent of basic depending upon rural/semi urban/Area 1/Metros)

Bank Clerk, is a financial service professional who serves as the primary point of contact for most bank customers, administering basic banking transactions , documentation and administrative functions.

A clerk is mostly a front staff in a bank. Depending on the requirement clerks are placed at different counters of the banks e.g. savings, deposit, retail loans, cash credit, agricultural loans, credit cards, government business, cash receipt or payment etc. Maximum customer interface in banks occurs at these counters managed by clerical staff