Since last year, most of the economic activities came to a halt after the imposition of lockdown in the country to arrest the spread of Coronavirus. The shops remain closed, the educational institutes were shut, and the factories also had to face closure. However, banks and their branches were kept open and were operative with offering most of the services to people. This shows that how important banks are for a country and its economy.

A Probationary Officer is someone who handles the overall banking management of a bank or a company associated with the banking sector. If you opt for a career as a Bank Probationary Officer you can have a lot of employment opportunities in the field along with professional growth. The Bank Probationary Officers are the entry-level employees who after the completion of the probation or training period are promoted to the posts of Assistant Managers of Scale 1 of the bank.

Roles And Responsibilities of Bank PO

A career as a Bank Probationary Officer (PO) requires performing multiple tasks. They are responsible for various activities related to Banking including finance, accounting, billing, marketing, investment, etc. One of the major functions of these officers is handling transactions of the customers. They have the authority to issue checkbooks, manage cash, and passing cheques, etc. The probationary officers also work in companies that mainly focus on financial and accounting matters.

How To Become Probationary Officer: Eligibility

The candidates who want to become Probationary Officer are first required to successfully complete their Graduation. The candidates must have a Bachelor's or Master's Degree certificate from a reputed institution. The aspirants have to qualify for the Bank PO exam to engage in the selection process conducted by different banks and companies. Some popular Bank PO examinations include IBPS PO, SBI PO, ICICI Bank, Axis Bank, HDFC Bank, Federal Bank, Oriental Bank of Commerce, IDFC bank, etc. The candidates applying for Bank Probationary Officers must be a citizen of India.

Employment Opportunities

There are various options and employment opportunities under this job profile. Mainly a Probationary Officer is hired in the banks but companies providing financial advise or support also hire POs. The Government Sector Bank offers employment opportunities to Probationary officers in banks to manage banking tasks. These POs have to plan, do marketing, budgeting, and loan processing. A fault in security in a government-owned bank may lead to legal punishment and cancellation of a work permit. While POs of Private Sector Bank functions similarly as the POs of a Public Sector Bank, they handle loan approval and processing, budgeting, managing investments, handling cheques, issuing passbooks. If a Private Sector Bank PO is found guilty, the punishment is nominal in comparison to Government Sector Bank.

Pay Scale of Probationary Officer

The salary of a Probationary Officer is based on the bank they are working with. The salary scale of Probationary Officers is approximately Rs. 2,55,600 per annum as starting salary, then Rs. 5,15,886 as Mid Level Salary and Rs. 8,38,000 as Senior Level Salary per annum.

The Officers also get benefits such as house facility, canteen subsidy leave travel concession, petrol, the higher interest rate on deposits, etc. However, the facilities vary from bank to bank.

Source link


Please enter your comment!
Please enter your name here