ABSORPTION IN BANK OF BARODA ON SUCCESSFUL COMPLETION
Final placement at Bank of Baroda:
All students after successful completion of the course will be awarded the “POST-GRADUATE DIPLOMA IN BANKING AND FINANCE” from Manipal University at a convocation ceremony where they shall also be handed over the final appointment letters from the Bank. Accordingly, they will be finally absorbed in the Bank as Probationary officers in JMG/S-I and can be posted anywhere in India as per Bank’s discretion.
Emoluments on final placement:-
After successful completion of the Post Graduate Diploma in Banking and Finance in the Baroda Manipal School of Banking and subsequent placement in Bank of Baroda, candidates will draw a salary as applicable to officers in Junior Management Grade/ Scale I which is presently in the scale of Rs. 14500-600x7/18700-700x2/20100-800x7/25700. They will also be eligible for DA, HRA/rent reimbursement & CCA, as per rules in force from time to time. At present, the initial monthly emoluments of Junior Management Grade/ Scale I Officer, including DA, HRA, CCA are approximately Rs. 23,000/- in a Metropolitan Centre.
The gross annual salary on joining the bank will be in the range of approx.Rs. 3 lacs p.a. (Salary component) in a metropolitan centre. Additionally, officers in JMG/S-I are also entitled to various benefits / perquisites, facilities from the Bank like various reimbursements/perquisites, concessional loan facilities for different purposes, LTC / LFC, holiday home, medical facilities for self and dependant family members, etc.
The above mentioned salary / perquisites, benefits, etc. may increase further in future, by the time the candidate actually joins the service of the Bank after the one year programme duration period.