Last updated on March 17th, 2023 at 01:47 am
Aspiring candidates who intend to apply for the NABARD Grade A position in 2023 must be acquainted with the fundamental information pertaining to the job profile and NABARD Grade A Salary. The official notification for the recruitment of various positions, including NABARD Grade A, will be published on the organization’s website. The position of NABARD Grade A falls under the purview of the Central Government, and hence the selected candidates can enjoy the benefits extended to all Central Government employees. It is also advisable for the candidates to have a clear understanding of the job responsibilities that come with the NABARD Grade A position in 2023.
This article provides an elaborate overview of the NABARD Grade A Salary and perks, allowances, benefits, and job responsibilities that the NABARD Grade A position entails.
NABARD Grade A Salary: Overview
The NABARD Grade A Salary 2023 is a crucial aspect that aspirants must be aware of while applying for the position. The salary structure for the NABARD Grade A position is in line with the central government’s pay scale.
The NABARD Grade A Salary is given in the below table.
| Salary Component | Amount |
|---|---|
| Basic Pay | Rs. 28,150/- per month |
| Pay Scale | 28150-1550(4) -34350-1750(7) – 46600 –EB – 1750(4)- 53600-2000(1)-55600 |
| Monthly Gross Emoluments | Approximately Rs. 62,600/- |
NABARD Grade A Salary: Salary Incrementation with Experience
The NABARD Grade A salary structure comes with significant salary incrementation with experience. The salary incrementation for the position is based on the pay scale structure, which consists of four stages.
| Experience Level | Basic Pay (INR) | Increment (INR) |
|---|---|---|
| First 4 years | 28,150 | 1,550 |
| After 5 years | 34,350 | 1,750 |
| Next 4 years | 46,600 | 1,750 |
| After 15 years | Varies based on performance and promotions | Vary based on performance and promotions |
NABARD Grade A Salary: Perks Offered
Apart from the basic pay and increments, the NABARD Grade A position also comes with several perks and benefits. Some of the NABARD Grade A Salary and perks offered to employees in this position include
- Dearness Allowance (DA): The employees are entitled to receive DA, which is revised twice a year based on the Consumer Price Index (CPI) and inflation rate. It is 17% of the basic pay.
- House Rent Allowance (HRA): The employees receive HRA, which is based on their location of posting. The HRA ranges from 7.5% to 9% of the basic pay.
- Medical Benefits: The employees and their families are eligible for medical benefits, including health insurance, hospitalization, and reimbursement of medical expenses.
- Leave Travel Concession (LTC): The employees are entitled to travel allowances for their annual leave, which they can use to travel within India or abroad.
- Contributory Provident Fund (CPF): The employees are eligible for CPF, which is a retirement benefits scheme.
- Gratuity: The employees are entitled to gratuity, which is a lump-sum amount paid to them at the time of retirement or resignation.
NABARD Grade A Salary: Additional Benefits
In addition to the perks mentioned earlier, the NABARD Grade A position also offers several other benefits to its employees, which are as follows:
- Performance-based Incentives: The employees are eligible for performance-based incentives, which are paid based on their annual performance review. These incentives can range from a few thousand to lakhs of rupees, depending on their performance.
- Car Loan: The employees can avail of car loans at a concessional interest rate, which makes it easier for them to buy a car.
- Housing Loan: The employees are also eligible for housing loans at a concessional interest rate, which helps them to buy or construct a house.
- Education Loan: The employees can avail of education loans at a lower interest rate to fund their children’s education.
- Personal Loan: The employees can also avail of personal loans at a lower interest rate to meet their financial requirements.
- Professional Development: The employees are provided with opportunities for professional development, including training programs, workshops, and seminars.
NABARD Grade A Salary: Career Growth
The NABARD Grade A position also offers several opportunities for career growth and advancement. The employees can get promoted to higher positions based on their performance and experience. The career growth opportunities in NABARD are as follows:
- Assistant Manager: The starting position in NABARD is Assistant Manager, which is a Grade A position. The employees can get promoted to higher positions based on their experience and performance.
- Manager: After completing a few years in the Assistant Manager position, the employees can get promoted to the Manager position, which is a Grade B position.
- Assistant General Manager: The next level of promotion is the Assistant General Manager position, which is a Grade C position.
- Deputy General Manager: The employees can get promoted to the Deputy General Manager position, which is a Grade D position.
- General Manager: The highest level of promotion in NABARD is the General Manager position, which is Grade E position.
Check the latest updates below-
NABARD Grade A Salary: Promotion
The NABARD Grade A position provides various opportunities for promotion, based on the employee’s performance and experience. The promotions in NABARD are primarily based on the following criteria:
- Performance: The employee’s performance is a critical factor for promotion in NABARD. The performance is evaluated based on various factors, such as work efficiency, productivity, innovation, leadership, and teamwork.
- Seniority: Seniority is another factor considered for promotion in NABARD. Employees who have been working for a longer duration in the organization have a higher chance of getting promoted.
- Education: Education is also considered for promotion in NABARD. The employees who have completed relevant courses, and certifications, or have higher education degrees are given preference for promotion.
The promotions in NABARD Grade A position are as follows:
- Assistant Manager (Grade A): This is the entry-level position in NABARD, and the candidates who clear the recruitment process and fulfil the eligibility criteria are selected for this position.
- Manager (Grade B): After a few years of experience as an Assistant Manager, the employees are promoted to the Manager position.
- Assistant General Manager (Grade C): After working as a Manager, the employees can get promoted to the Assistant General Manager position.
- Deputy General Manager (Grade D): The next level of promotion is the Deputy General Manager position, which is a higher position than the Assistant General Manager.
- General Manager (Grade E): The General Manager position is the highest level of promotion in NABARD Grade A position.
NABARD Grade A Salary: FAQs
The basic pay for the NABARD Grade A position is INR 28,150 per month.
A: The salary structure for the NABARD Grade A position is based on the 7th pay commission, and it ranges from INR 28,150 to INR 55,600 per month, depending on the employee’s experience and designation.
Apart from the salary, the NABARD Grade A employees also receive additional benefits such as Dearness Allowance, House Rent Allowance, etc. For more details, kindly check the above article!
The employees can get promoted to higher positions based on their performance and experience, such as Assistant Manager, Manager, etc. For more details, kindly check the above article!
The promotion criteria for the NABARD Grade A position are based on the employee’s performance, seniority, etc. For more details, kindly check the above article!