Newly Joined Clerk in PSU Bank Salary in 2026: Salary Slip, Basic Pay, Allowances & Take-Home Salary

A newly joined Public Sector Bank (PSU Bank) Clerk can expect a salary comprising Basic Pay, Dearness Allowance (DA), House Rent Allowance (HRA), Transport Allowance and other applicable allowances.

The salary slip shown above provides an example of a June 2026 salary structure for a Customer Service Associate (Clerk) in a Public Sector Bank. The actual salary may vary depending on the bank, posting location, stage of pay, allowances and individual deductions.

PSU Bank Clerk Salary Slip – June 2026

According to the salary slip, the employee's Gross Salary is ₹48,990, while the Net Salary credited is ₹45,096.41.

The Basic Pay of ₹26,730 forms the core component of the salary, while DA, HRA, transport and special allowances add to the monthly gross earnings.

The total employee deductions reflected in the slip are ₹3,893.59.

The slip also displays a DCPS Bank Contribution of ₹5,050.63 separately. This is shown as a contribution and should not be added to the employee's total deductions when calculating the net salary.

Net Salary

After applicable employee deductions, the salary slip shows:

Gross Salary: ₹48,990.00

Total Employee Deductions: ₹3,893.59

Net Salary:₹45,096.41

Thus, the employee receives approximately ₹45,096 as take-home salary for the month shown in the example.

Important Note for Newly Joined PSU Bank Clerks

The salary shown in this example should not be treated as a fixed salary applicable to every newly joined bank clerk. Actual salary can differ based on factors such as:

* Bank and applicable Bipartite Settlement

* Pay stage and increments

* Posting/location

* HRA and other location-based allowances

* Special allowances

* Professional tax and other statutory deductions

* Pension/NPS/DCPS-related contributions

* Other individual deductions

Therefore, candidates joining a PSU bank should check their appointment terms and the latest applicable salary structure for an accurate estimate.

The example salary slip demonstrates that a PSU bank clerk's monthly salary can include several components beyond Basic Pay. In this June 2026 example, ₹48,990 gross salary translates into ₹45,096.41 net salary after employee-side deductions.

Disclaimer: This post is based on the salary slip shown in the accompanying image and is intended for informational purposes. Salary components and amounts may vary from employee to employee and from bank to bank.

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Bank of India(BOI) DGM Sentenced to 10 Years in Jail in Bank Fraud Case by CBI Court

In a bank fraud case, the CBI Court in Chennai found six people guilty and sentenced them to rigorous imprisonment for ten years. These individuals included two private individuals, Smt. O.P. Thamarai Poo and P. Thandapani, and four public employees, N. Venkatachalam, then DGM, Bank of India, M. Sivakumar, Record Clerk, Sholinganallur Taluk office, T. Dasarathan, VAO, Pzhavanthangal, Govt. of Tamil Nadu. 

Additionally, the CBI fined them a total of Rs 2.70 crore. On May 19, 2010, the case was filed in response to a Bank of India complaint.

Bank said that the prime accused E Muthuswamy and others in conspiracy with the officials of Bank of India misappropriated the funds of the bank dishonestly and fraudulently availed various credit facilities by submitting false and fabricated documents and thereby cheated the Bank to the tune of Rs.238.97 Lakh.

On December 28, 2011, the CBI issued a chargesheet against twelve individuals, five of whom were public servants and seven of whom were private citizens. Following the trial, the court found the aforementioned six accused individuals guilty and punished them.

In CC 18/2016, the case against one Public Servant V. Umapathy, Suspended Senior Draftsman, Land and Survey Department, has been divided. During the trial, four private defendants—E. Muthusamy, A. Vincent, K. Srikanth, and Smt. M. Jothi—died, and the allegations against them were dropped. Smt. Lavanya, one of the defendants, was found not guilty.

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Bank of India(BOI) gets AAA rating from Infomerics

Infomerics Ratings has given Bank of India(BOI) a AAA grade. Infomerics has reiterated its IVR AAA/Stable long-term rating on the Bank of India's (BOI) Basel HI Compliant Tier-II Bond Program.With a 73.38% interest as of June 30, 2026, GOI remains BOI's largest shareholder, offering substantial comfort in terms of ownership and prospective support.  

Net profit rose by almost 14% to Rs 10,527 crore from Rs 9,219 crore, while operating profit improved by around 4% year over year to Rs 17,049 crore in FY26 from Rs 16,412 crore in FY25. A decrease in provisions before tax of about 22% to Rs 3,103 crore, which reflected ongoing improvements in asset quality and lower credit costs, bolstered the increase in profitability.

The domestic NIM remained comparatively stronger at around 2.78% as on March 31, 2026. Management indicated that it intends to support margins through higher-yielding RAM and MCLR-linked advances, increased mid-corporate lending and reduction in the cost of deposits. The earnings momentum strengthened further in Q1FY27, with operating profit increasing by around 26% y-o-y to Rs 5,051 crore and net profit increasing by around 36% to Rs 3,068 crore.

ROA improved to 1.01% from 0.82% in Q1FY26, while the cost-to-income ratio improved significantly to 46.33% from 51.31%. Credit cost also moderated to 0.15% from 0.17%. However, NIM remained at 2.52%, reflecting continued margin pressure. Management has guided for global NIM of 2.55%-2.60% and ROA of 1% or above in FY27, with cost-to-income expected to remain around 48%-49% on a sustainable basis.

BOI has a well-diversified loan portfolio, with RAM accounting for around 59% of domestic advances as on March 31, 2026, supporting granular credit growth. Domestic gross advances grew 16% y-o-y in FY26, led by Retail, Agriculture and MSME growth of 21%, 18% and 18%, respectively, and the momentum strengthened in Q1FY27, with domestic advances and RAM growing 19% and 20% y-o-y, respectively. Retail, Agriculture and MSME advances grew by 21%, 19% and 19%, respectively, making RAM the key growth driver.

CASA moderated to 37.64% in FY26 from 40.29%, and further to 36.68% in Q1FY27, despite absolute CASA rising to Rs 3,00,765 crore from Rs 2,80,316 crore, reflecting changing customer savings preferences and higher reliance on Rs 3-25 crore and selective bulk deposits to support credit growth. Nevertheless, funding costs improved, with cost of deposits declining to 4.69% from 4.85% and cost of funds to 4.45% from 4.66% in Q1FY27, aided by deposit optimisation.

As on March 31, 2026, the bank had 5,535 domestic branches, 7,685 ATMs & CRAs, 25,053 Business Correspondents and 38,273 customer touch points, compared with 5,328 branches, 8,003 ATMs & CRAs, 23,281 Business Correspondents and 36,612 customer touch points as on March 31, 2025. 

The bank also has a well-established international presence across 15 countries and five continents, including major financial centres. During FY26, overseas deposits increased to around Rs 1.27 lakh crore, while overseas advances increased to around Rs 1.17 lakh crore, supporting the overall growth in the bank’s global business.

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Indian Overseas Bank(IOB) Local Bank Officer(LBO) Recruitment 2026

Indian Overseas Bank has released notification for recruitment of candidates to the post of LBO (Local Bank Officer).

Particular	Details
Organization	Indian Overseas Bank (IOB)
Post Name	Local Bank Officer (LBO)
Grade	JMGS-I / Scale-I
Advertisement No.	HRDD/RECT/02/2026-27
Total Vacancies	250
Application Mode	Online
Application Start Date	08 August 2026
Last Date to Apply	24 August 2026
Selection Process	Online Exam, LPT & Personal Interview

Indian Overseas Bank LBO Recruitment 2026 Important Dates

Important Events	Dates
Commencement of online registration of application	08/08/2026
Closure of registration of application	24/08/2026
Closure for editing application details	24/08/2026
Last date for printing your application	08/09/2026
Online Fee Payment	08/08/2026 to 24/08/2026

Click here to Download Notification

Click here to Apply Online

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Bank of Baroda(BoB) Vacancy Out for Specialist Officers

Bank of Baroda(BoB) has released vacancies for recruitment of candidates for the post of Specialist Officers. Candidates can apply for Scale I, II, III and IV posts on regular basis. There are a total of 206 vacancies. Last date to apply is 26 Aug 2026. Candidates can apply for vacancies in following departments: Digital Banking, Facility Management, Information Security, Security, Enterprise Data Management Office, Corporate Accounts & Taxation Planning.

Selection Process

The selection process may comprise Application Scrutiny, online test, psychometric test or any other test deemed suitable for further selection process followed by Group Discussion and/or Interview of candidates.

Click here to Apply Online

Click here to Download Notification

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Financial Results of PSU and Private Banks for Q1FY27

  

The public sector and private sector banks have released the financial results for Q1FY27. 

Public Sector Bank

Bank	Results
Bank of India (BoI)	Click Here
Punjab & Sind Bank	Click Here
Central Bank of India	Click Here
Union Bank of India	Click Here
Indian Overseas Bank	Click Here
Bank of Maharashtra	Click Here
State Bank of India (SBI)	Click Here
Punjab National Bank (PNB)	Click Here
Bank of Baroda (BoB)	Click Here
Canara Bank	Click Here
Indian Bank	Click Here
UCO Bank	Click Here

Private Banks

Bank	Results
IDBI Bank	Click Here
Kotak Mahindra Bank	Click Here
IDFC First Bank	Click Here
HDFC Bank	Click Here
ICICI Bank	Click Here
Indusind Bank	Click Here
Axis Bank	Click Here

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State Bank of India(SBI) Clerk Recruitment Notification Out for 1538 Vacancies

The State Bank of India (SBI) has released notification for recruitment of candidates to the post of Clerk (Junior Associate). All details related to this recruitment are given below. This recruitment is being conducted as a Special Recruitment Drive for SC/ST/OBC backlog vacancies.

Particular	Details
Organization	State Bank of India (SBI)
Post Name	Junior Associate (Customer Support & Sales)
Cadre	Clerical Cadre
Advertisement No.	CRPD/CR/SPLDRIVE/2026-27/16
Total Vacancies	1538
Application Mode	Online
Application Start Date	07 August 2026
Last Date to Apply	27 August 2026
Preliminary Exam	September 2026 (Tentative)
Main Exam	October/November 2026 (Tentative)

SBI Clerk Recruitment 2026 Important Dates

Important Events	Dates
Commencement of online registration of application	07/08/2026
Closure of registration of application	27/08/2026
Closure for editing application details	27/08/2026
Last date for printing your application	11/09/2026
Online Fee Payment	07/08/2026 to 27/08/2026

SBI Clerk Recruitment 2026 Selection Process

The selection process consists of:

1. Preliminary Examination
2. Main Examination
3. Specified Local Language Proficiency Test (LLPT), wherever applicable

Preliminary Examination marks will not be considered for final merit. Candidates will be shortlisted for the Main Examination based on their Preliminary Examination performance. Final merit will be prepared on the basis of marks obtained in the Main Examination, subject to eligibility verification and qualifying the local language test wherever applicable.

Click here to download Notification

Click here to apply Online

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State Bank of India(SBI) Q1 results: Net profit rises 10%

 

For the April–June quarter of FY27, State Bank of India (SBI) reported a 10.2 percent year-over-year increase in net profit to Rs 21,121 crore, exceeding the CNBC–TV18 poll estimate of Rs 19,145 crore. In the same period last year, the biggest lender in the nation earned a net profit of Rs 19,160 crore.

From Rs 40,907 crore to Rs 46,992 crore, net interest income (NII) increased by 15% annually. Additionally, the amount exceeded the CNBC-TV18 poll prediction of Rs 45,800 crore. In contrast to the poll forecast of Rs 30,004 crore, pre-provisioning operating profit (PPoP) for the quarter was Rs 33,530 crore.

SBI also reported a sequential improvement in asset quality. Gross non-performing assets (NPAs) declined to 1.47 percent from 1.49 percent in the preceding quarter, while the net NPA ratio eased to 0.38 percent from 0.39 percent.

Provisions rose to Rs 5,047 crore during the quarter from Rs 2,872 crore in the preceding quarter and Rs 4,759 crore in the year-ago period. However, credit cost remained unchanged sequentially at 0.27 percent and declined from 0.47 percent a year earlier.

Domestic net interest margin (NIM) stood at 3 percent during the quarter, while whole-bank NIM improved by 5 basis points sequentially to 2.86 percent.

Gross advances grew 18.6 percent year-on-year and 2.3 percent sequentially during the quarter. Slippages increased to Rs 7,359 crore from Rs 5,548 crore in the preceding quarter. The slippage ratio rose to 0.57 percent from 0.47 percent sequentially.

SBI's return on assets (ROA) stood at 1.11 percent for the quarter, while return on equity (ROE) was 17.87 percent.

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Bank of India(BOI) Officer Brutally Assaulted Inside Branch in Rajasthan; Staff Safety Under Spotlight

At the Bagru Branch in Jaipur, a Bank of India officer was viciously attacked while carrying out his professional duties. On August 4, Deepak Gajraj, a loan officer from the Bank of India's Bagru branch, called a borrower and requested that he deposit money into his loan account. A female consumer had the account. 

A man claimed to be the customer's husband when he answered the phone. Additionally, he declined to put the funds into the loan account. As the situation worsened, he and a few others entered the bank and mistreated and intimidated the loan officer. The loan borrower tore his clothes, beat the bank employee, and physically stopped him from carrying out his official responsibilities.The officer suffered severe injuries.

AIBOC Rajasthan State Unit supported the officer following the event and brought up the issue with the police authorities. In a meeting with the Jaipur Police Commissioner, a delegation made up of AIBOC Rajasthan State Secretary Ramavtar Singh Jakhar, Senior Vice President Rajesh R Jain, Bank of India Officers' Association State General Secretary Mahesh Meena, SBIOA Jaipur Circle Deputy General Secretary Saroj Mishra, and Bank of India Officers' Association State President Rameshwar Ola submitted a memorandum calling for strict legal action.

An FIR bearing No. 0309/2026 has been registered at Police Station Bagru, Jaipur West, under Sections 132, 121(1), 352, 351(2), 3(5) and 333 of the Bharatiya Nyaya Sanhita, 2023.

AIBOC has demanded the immediate arrest of all persons involved, a fair and time-bound investigation and speedy filing of the charge sheet.

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5-Day Banking Latest News: Bank Unions Announce Nationwide Demonstrations on 12 August

The United Forum of Bank Unions (UFBU) has called for coordinated protests on August 12, 2026, to call for the early adoption of five-day banking. All state capitals as well as other significant cities and locations around the nation will host the protests after business hours.

The need for five-day banking hasn't been met in over two years. In January 2026, bank workers staged a one-day walkout in support of the demand, but no decision was made about the introduction of five-day banking.

In its circular dated 4 August 2026, UFBU said that after the successful strike on 27 January 2026, bank employees and officers were expecting a positive response from the Government on the 5-day banking demand.

According to UFBU, the Indian Banks’ Association (IBA) had agreed to 5-day banking in the MOU as well as the Settlement/Joint Note, and the matter was recommended to the Government. However, a final decision is still awaited.

According to UFBU, the government has requested that banks begin preparing for the upcoming wage adjustment settlement, which is scheduled for November 2027. The unions, however, stated that a decision on the outstanding matter of implementing five-day banking had yet to be made. As a result, the unions have made the decision to bring up the issue once more and ask the government for an early ruling. 

On August 12, 2026, after business hours, UFBU has agreed to hold coordinated protests in all state capitals as well as other significant towns and locations. It has been requested that all bank employees and member unions fully participate in the program. According to UFBU, the unions will convene soon to choose their next line of action, which may include going on strike.However, no new strike date has been announced yet.

The circular has been signed by leaders of AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBOC and INBEF.

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