Decoding Nabard Grade B Salary: All You Need to Know
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Table of Contents
The Grade B position in NABARD is a prominent job in the banking sector. It has a competitive salary and benefits. NABARD admits the candidates per the prerequisites mentioned in an online application form. If you want to pursue a career in this profession, you should also know about the Nabard Grade B salary structure.
Nabard’s Grade B salary knowledge enables you to negotiate your salary during the hiring process. It provides you insights into career growth and advancement opportunities within the organization.
This article will give you information about the NABARD Grade B salary structure.
Let us dive deeper!
NABARD Grade B Salary Structure And Pay Scale
You will start working as a Probationary Assistant Manager while passing the NABARD Grade B examination. As per the central government, initially, employees receive a basic salary of INR 13 LPA. This includes basic pay along with allowances. You can refer to the NABARD Grade B salary structure from the tabular format to learn more about the perks.
| Perks | Details |
| Basic Pay | INR 35,150 per month |
| Pay-Scale | Rs. 35150-1750(9)-50900-EB-1750(2)-54400-2000(4)-62400 (16 years) |
| Allowances | Dearness Allowance, House Rent Allowance, Medical Allowance, Leave Travel Concession, etc. |
| Monthly Emoluments | INR 73,600 per month |
Allowances and Benefits Along with NABARD Grade B Salary
Besides NABARD Grade B basic salary, the employees are also eligible for various allowances. These allowances include dearness allowance, house rent allowance, medical allowance, and others. Some of the major allowances are as follows:
NABARD Grade B Allowances:
• Dearness Allowance (DA):
An employee gets DA allowances to cope with inflation. The amount of DA gets a revision every quarter based on the Consumer Price Index (CPI) data.
• House Rent Allowance (HRA):
NABARD grade B officers also get an HRA allowance to cover the accommodation cost. They get an HRA allowance according to the city of posting, which can range from 8% to 24% of the basic pay.
• City Compensatory Allowance (CCA):
Employees also receive a CCA allowance as per their posting in metro cities. This helps them compensate for the higher cost of living in these cities.
• Medical Allowance:
NABARD provides medical expenses as a sickness benefit to its employee. Moreover, these allowances are also effective for their family members.
• Leave Travel Concession (LTC):
NABARD Grade B officers are eligible for LTC for themselves and their family members. This will allow them to travel to their hometown or any other destination in India once in two years.
Let us further go through the gross monthly pay scale from the NABARD Grade B salary slip given below:
| Description | Amount |
| Basic Salary | 38650.00 |
| Dearness Allow | 24996.00 |
| CCA/Local Allow | 1933.00 |
| Grade Allow | 6800.00 |
| Special Allow | 1800.00 |
| Family Allow | 1546.00 |
| Special Perq Allow | 4058.00 |
| SPA Cess | 122.00 |
| Total Earnings | 79905.00 |
Apart from the allowances, NABARD also offers salary benefits that you must know. This will enable you to make the most of the NABARD benefits. Some of the major benefits are as follows:
NABARD Grade B Benefits
NABARD Grade B employees are eligible for benefits like gratuities, trips, and provident funds. By learning a little bit about it, you can take advantage of these perks. The following are a few NABARD Grade B salary benefits:
Provident Fund (PF):
NABARD Grade B officers are eligible for the provident fund. Both employees and employers contribute in parallel to PF.
Gratuity:
Gratuity is a lump sum payment made to employees during retirement or resignation. NABARD Grade B officers are eligible for gratuity per the Payment of Gratuity Act, 1972.
Pension:
NABARD Grade B officers are eligible for pension under the National Pension System (NPS).
Health Insurance:
The Grade B officers also get life insurance and health insurance benefits in NABARD.
Leave Encashment:
NABARD Grade B officers are eligible for various types of leave, such as casual leave, earned breaks, and medical leave.
Training and Development:
Officers in NABARD get various training and development programs to enhance their skills and knowledge.
Factors Affecting NABARD Grade B Salary and Pay Scale
The officers start with basic pay. The salary increases with the increase in the job profile. But, the NABARD Grade B salary also depends on various other factors. Some of these factors are as follows:
- Experience: Officers with more experience earn higher salaries and get a higher pay scale.
- Job Location: The officers posted in metro cities or urban areas may receive a higher salary.
- Education and Qualification: The officers with higher qualifications may be eligible for better NABARD Grade B salaries. Moreover, certifications can offer them faster career growth.
- Performance: Performance and productivity can also affect the NABARD Grade B salary and pay scale of the officers. Officers who consistently perform well and meet their targets may be eligible for higher wages and faster promotions.
- Inflation: Inflation indeed affects the NABARD Grade B salary and pay scale. The government reviews the salaries and allowances of its employees. Moreover, it makes adjustments based on the prevailing economic conditions.
NABARD Grade B: Job Profile & Responsibilities
NABARD Grade B recruitment comes up with various job profiles followed by a varied NABARD Grade B salary structure. Let us discuss various job profiles along with their responsibilities in tabular format.
| Job Profile | Responsibilities |
| Manager | Responsible for implementing and monitoring various rural development schemes. Finance agricultural projects, and promote financial inclusion in rural areas |
| Assistant General Manager | Supervises and monitors the work of the team. Suggests corrective actions when required. Plan policies related to agriculture and rural development. |
| Deputy General Manager | Participates in the development and implementation of the bank’s strategic plans. Works with senior management to identify growth opportunities, set goals, and develop strategies. Oversees the bank’s risk management program |
| General Manager | Provides strategic leadership to the bank. Works with senior management to develop and install the bank’s strategic plans. Manages the bank’s relationships with stakeholders. |
| Director | Provides guidance and direction to their team to ensure alignment with the bank’s objectives. Builds and maintains strong relationships with customers, government officials, and industry leaders. Also ensures the bank’s continued success. |
Conclusion
The NABARD Grade B salary is attractive and comes with several benefits and allowances. NABARD revises the salary structure to keep pace with inflation. Salaries also get a revision, keeping in mind the other economic factors. Hence a career as a NABARD Grade B officer offers excellent opportunities for growth and learning. It can also make a meaningful contribution to society.