As NABARD was a part of RBI before 1982, it shares the same work culture as RBI, and the salary structure for every grade of officers was fixed.
Thus, there is a fixed amount assigned as the NABARD Grade A salary & perks as well, meaning a certain level of perks and allowances are the entitlements of Grade A Officers.
That said since this is one of the highest paying government jobs in the country. I will be writing down every pay scale in a very simple language to help you out understand the pay scale.
The Gross monthly salary after you become a NABARD Grade A officer is 70,000 /-. It doesn’t mean that the in-hand salary is 70,000/- (there are deductions such as PF, Income Tax, etc.).
You must be wondering. What is it then?
The basic NABARD Grade A Salary is Rs. 28,150/ – p.m. in the starting.
NABARD Grade A Officer Salary Allowances
NABARD provides a lot of allowances to all the Grade A officers which have been mentioned below.
Another thing to note is that all these allowances and salary statements are given to you at the end of every month in the form of a NABARD Grade A salary slip.
House Rent Allowance (HRA):
I know the pain of going out of your hometown to some other area to work. Going away from your parents is difficult but NABARD tries to help you out by providing you a home.
HRA is given to the officers who couldn’t get accommodation from NABARD because the number of flats is limited.
Conveyance Allowance (CA):
Conveyance Allowance is basically the transportation cost paid to each and every NABARD Grade A officer from your home to the office every single day. It depends upon the declaration by you.
Medical Allowance:
You get a Medical Allowance too in your NABARD Grade A salary slip every month. Is it for real? These allowances are also valid for the dependents of the employees.
Leave Fare Concession Travel (LFC):
You will get the LFC allowance. This can be availed once in two years, by the employee and his dependents to go anywhere in the world.
Bank Loan Facility:
Loans are given at very low rates of interest for Housing, Car, Education of children, Consumer Articles, Personal computers, etc.
Pension:
Pension is a very common thing that every government employee draws after retirement.
Apart from the given perks, there is an Interest-free festival advance, Newspaper, book grant, Furnishing of Residence Allowance, Life Insurance Coverage, and Educational Leaves, etc. as per eligibility.
I believe that you loved all the allowances. NABARD does care about its employees and knows how to take care of them.
Check out the NABARD Grade A Officer Promotions and career growth
You will be getting higher in the NABARD career ladder, only after going through the departmental exams and interviews.
To know the complete procedure for NABARD Grade A Exam Check here.
I hope this article will help you to choose the right way to prepare for the same.
Thanks!!
Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 5 years of experience in the field of Education.