Bank officers are not covered by the 11th Bipartite Settlement. They are covered by the 8th Joint Note, dated 11 November 2020, which fixed officer pay scales and allowances for 1 November 2017 to 31 October 2022. For how joint notes and bipartite settlements fit together, see the Bipartite Settlement guide.
Updated 4 October 2026 · Figures checked against the joint note as implemented by banks
Both documents come out of the same negotiation with the Indian Banks’ Association and were signed on the same day, effective from the same date. But the Bipartite Settlement is the instrument for workmen, meaning clerical and subordinate staff, while officers in Scale I to Scale VII are governed by the Joint Note. The pay scales are different, the house rent allowance percentages are different, and several allowances exist for one cadre and not the other.
This page is the officer side of that settlement: every scale, every allowance, with the figures as they were actually payable, and a worked example showing what a Scale I officer took home.
8th Joint Note at a glance
- Document: 8th Joint Note, the officers’ instrument, signed with the 11th Bipartite Settlement for workmen
- Effective from: 1 November 2017
- Signed on: 11 November 2020
- Period: to 31 October 2022, superseded by the 9th Joint Note signed 8 March 2024
- Scales covered: Scale I to Scale VII, ₹36,000 to ₹1,29,000
- Dearness allowance merged: 47.80 per cent, at CPI-IW 6352 points, plus 2.50 per cent loading
Officer scales, grades and designations
The same officer is called three different things depending on who is speaking. Circulars use the grade code, pay scales use the scale number, and the branch uses the designation. They map like this.
| Scale | Grade code | Usual designation |
|---|---|---|
| Scale I | JMGS-I | Assistant Manager or Probationary Officer |
| Scale II | MMGS-II | Manager |
| Scale III | MMGS-III | Senior Manager |
| Scale IV | SMGS-IV | Chief Manager |
| Scale V | SMGS-V | Assistant General Manager |
| Scale VI | TEGS-VI | Deputy General Manager |
| Scale VII | TEGS-VII | General Manager |
JMGS is Junior Management Grade Scale, MMGS is Middle Management Grade Scale, SMGS is Senior Management Grade Scale and TEGS is Top Executive Grade Scale. Designations vary a little between banks, particularly at Scale IV and above.
Officer pay scales under the 8th Joint Note
| Scale | First stage | Scale maximum |
|---|---|---|
| Scale I (JMGS-I) | ₹36,000 | ₹63,840 |
| Scale II (MMGS-II) | ₹48,170 | ₹69,810 |
| Scale III (MMGS-III) | ₹63,840 | ₹78,230 |
| Scale IV (SMGS-IV) | ₹76,010 | ₹89,890 |
| Scale V (SMGS-V) | ₹89,890 | ₹1,00,350 |
| Scale VI (TEGS-VI) | ₹1,04,240 | ₹1,16,120 |
| Scale VII (TEGS-VII) | ₹1,16,120 | ₹1,29,000 |
The scales overlap deliberately. Scale I ends at ₹63,840, which is exactly where Scale III begins, so an officer promoted into a higher scale is fitted at the next stage above present basic pay rather than dropping to the bottom of the new scale.
Scale I (JMGS-I) stage by stage
Notation: 36000 - 1490/7 - 46430 - 1740/2 - 49910 - 1990/7 - 63840
| Stage | Basic pay | Next increment |
|---|---|---|
| 1 | ₹36,000 | ₹1,490 |
| 2 | ₹37,490 | ₹1,490 |
| 3 | ₹38,980 | ₹1,490 |
| 4 | ₹40,470 | ₹1,490 |
| 5 | ₹41,960 | ₹1,490 |
| 6 | ₹43,450 | ₹1,490 |
| 7 | ₹44,940 | ₹1,490 |
| 8 | ₹46,430 | ₹1,740 |
| 9 | ₹48,170 | ₹1,740 |
| 10 | ₹49,910 | ₹1,990 |
| 11 | ₹51,900 | ₹1,990 |
| 12 | ₹53,890 | ₹1,990 |
| 13 | ₹55,880 | ₹1,990 |
| 14 | ₹57,870 | ₹1,990 |
| 15 | ₹59,860 | ₹1,990 |
| 16 | ₹61,850 | ₹1,990 |
| 17 | ₹63,840 | — |
Scale II (MMGS-II) stage by stage
Notation: 48170 - 1740/1 - 49910 - 1990/10 - 69810
| Stage | Basic pay | Next increment |
|---|---|---|
| 1 | ₹48,170 | ₹1,740 |
| 2 | ₹49,910 | ₹1,990 |
| 3 | ₹51,900 | ₹1,990 |
| 4 | ₹53,890 | ₹1,990 |
| 5 | ₹55,880 | ₹1,990 |
| 6 | ₹57,870 | ₹1,990 |
| 7 | ₹59,860 | ₹1,990 |
| 8 | ₹61,850 | ₹1,990 |
| 9 | ₹63,840 | ₹1,990 |
| 10 | ₹65,830 | ₹1,990 |
| 11 | ₹67,820 | ₹1,990 |
| 12 | ₹69,810 | — |
Scale III (MMGS-III) stage by stage
Notation: 63840 - 1990/5 - 73790 - 2220/2 - 78230
| Stage | Basic pay | Next increment |
|---|---|---|
| 1 | ₹63,840 | ₹1,990 |
| 2 | ₹65,830 | ₹1,990 |
| 3 | ₹67,820 | ₹1,990 |
| 4 | ₹69,810 | ₹1,990 |
| 5 | ₹71,800 | ₹1,990 |
| 6 | ₹73,790 | ₹2,220 |
| 7 | ₹76,010 | ₹2,220 |
| 8 | ₹78,230 | — |
Scale IV (SMGS-IV) stage by stage
Notation: 76010 - 2220/4 - 84890 - 2500/2 - 89890
| Stage | Basic pay | Next increment |
|---|---|---|
| 1 | ₹76,010 | ₹2,220 |
| 2 | ₹78,230 | ₹2,220 |
| 3 | ₹80,450 | ₹2,220 |
| 4 | ₹82,670 | ₹2,220 |
| 5 | ₹84,890 | ₹2,500 |
| 6 | ₹87,390 | ₹2,500 |
| 7 | ₹89,890 | — |
Scale V (SMGS-V) stage by stage
Notation: 89890 - 2500/2 - 94890 - 2730/2 - 100350
| Stage | Basic pay | Next increment |
|---|---|---|
| 1 | ₹89,890 | ₹2,500 |
| 2 | ₹92,390 | ₹2,500 |
| 3 | ₹94,890 | ₹2,730 |
| 4 | ₹97,620 | ₹2,730 |
| 5 | ₹1,00,350 | — |
Scale VI (TEGS-VI) stage by stage
Notation: 104240 - 2970/4 - 116120
| Stage | Basic pay | Next increment |
|---|---|---|
| 1 | ₹1,04,240 | ₹2,970 |
| 2 | ₹1,07,210 | ₹2,970 |
| 3 | ₹1,10,180 | ₹2,970 |
| 4 | ₹1,13,150 | ₹2,970 |
| 5 | ₹1,16,120 | — |
Scale VII (TEGS-VII) stage by stage
Notation: 116120 - 3220/4 - 129000
| Stage | Basic pay | Next increment |
|---|---|---|
| 1 | ₹1,16,120 | ₹3,220 |
| 2 | ₹1,19,340 | ₹3,220 |
| 3 | ₹1,22,560 | ₹3,220 |
| 4 | ₹1,25,780 | ₹3,220 |
| 5 | ₹1,29,000 | — |
Stagnation increments for officers
Reaching the top of a scale does not stop basic pay. Scale I and Scale II officers first move onto the stages of the next higher scale after reaching their own maximum, under Regulation 5(b) of the officers’ service regulations, and their stagnation increments start only at the top of that higher scale. Officers in Scale III and above draw stagnation increments from the top of their own scale.
| Scale | Stagnation increments | Basic pay after them |
|---|---|---|
| Scale I | Scale II stages to ₹69,810, then 2 × ₹1,990 + 3 × ₹2,220 | ₹80,450 |
| Scale II | Scale III stages to ₹78,230, then 5 × ₹2,220 | ₹89,330 |
| Scale III | 4 × ₹2,220 + 2 × ₹2,500 | ₹92,110 |
| Scale IV | 1 × ₹2,500 + 1 × ₹2,730 | ₹95,120 |
| Scale V | 1 × ₹2,970 | ₹1,03,320 |
| Scale VI | None | ₹1,16,120 |
| Scale VII | None | ₹1,29,000 |
What a Scale I officer actually took home
Every reference page lists the components. Almost none of them adds the components up, which is the thing officers are actually trying to find out. Here is the full arithmetic for an officer at the first stage of Scale I, in a Major A class city, on the dearness allowance rate for the final quarter of the settlement: August to October 2022, 526 slabs, 36.82 per cent.
| Component | How it is worked out | Amount |
|---|---|---|
| Basic pay | First stage of Scale I | ₹36,000 |
| Special allowance | 16.40 per cent of basic pay | ₹5,904 |
| Learning allowance | Fixed amount | ₹600 |
| Dearness allowance | 36.82 per cent of basic plus special and learning allowance | ₹15,650 |
| House rent allowance | 9 per cent of pay, Major A class city | ₹3,240 |
| City compensatory allowance | Area I centre, fixed amount, no DA on it | ₹1,400 |
| Gross | Sum of the above | ₹62,794 |
| Less provident fund | 10 per cent of pay, pension optee, no DA in the base | ₹3,600 |
| Net, pension optee | ₹59,194 | |
| Less NPS instead | 10 per cent of pay plus DA on it | ₹4,926 |
| Net, NPS member | ₹57,868 |
Two things in that table catch people out. Dearness allowance runs on special allowance and learning allowance as well as on basic pay, because each of those clauses grants it “with applicable dearness allowance thereon”. And it does not run on city compensatory allowance or location allowance, which are fixed amounts. A Major A class city falls in Area I, so the officer draws city compensatory allowance of ₹1,400; location allowance of ₹700 is only for centres that do not qualify for it. The difference between the two net figures, ₹1,326 a month, is purely whether the officer is a pension optee or an NPS member.
To run the same arithmetic on your own basic pay, scale and quarter, use the 11th BPS salary calculator, which carries every quarter of the settlement period.
Every allowance an officer drew under the 8th Joint Note
Component by component, with the figures as recorded in the joint note.
(1) Dearness allowance
0.07 per cent of pay for every slab of four points above 6352 points in the quarterly average of the All India Average Working Class Consumer Price Index, base 1960=100. It is per slab of four points, not per point. Quarters began in February, May, August and November. The rate ran from 2.66 per cent in the first quarter of the settlement to 36.82 per cent in the last.
(2) Special allowance
| Scale | Special allowance on basic pay |
|---|---|
| Scale I, II and III | 16.40 per cent |
| Scale IV and V | 19.00 per cent |
| Scale VI and VII | 20.00 per cent |
Dearness allowance is payable on special allowance. It is expressly not reckoned for superannuation benefits, which means it is excluded from pension, NPS contribution, provident fund and gratuity.
(3) House rent allowance
| Place of posting | Rate |
|---|---|
| Major A class cities | 9 per cent of pay |
| Other places in Area I | 8 per cent of pay |
| All other places | 7 per cent of pay |
These are the officer rates. Clerical and subordinate staff were on a flat 10.25 per cent at every centre under the 11th Bipartite Settlement, with no area classification at all, so the two cadres are not comparable here. An officer producing a rent receipt could instead claim the actual rent paid above 0.75 per cent of the first stage of the scale, capped at 150 per cent of the rates above.
(4) City compensatory allowance
| Centre | Amount a month |
|---|---|
| Area I and the State of Goa | ₹1,400 |
| Places with population of 5 lakh and above, state capitals, Chandigarh, Puducherry and Port Blair | ₹1,150 |
(5) Location allowance
₹700 a month for officers posted at centres that do not qualify for city compensatory allowance. The two are mutually exclusive. No dearness allowance is payable on location allowance and it does not rank for superannuation.
(6) Learning allowance
₹600 a month, with dearness allowance on it, from 1 November 2017. This allowance exists for officers only. Clerical and subordinate staff instead received a transport allowance of ₹600 a month, also with dearness allowance.
(7) Professional qualification pay
| Qualification | Amount a month |
|---|---|
| JAIIB, or Part I of CAIIB | ₹1,020 |
| On completing both parts of CAIIB | ₹1,020 plus a further ₹2,550 |
For officers it is paid only after reaching the top of the scale: ₹1,020 one year after reaching the maximum, and the further ₹2,550 two years after, for those who have completed both parts of CAIIB. It is part of pay for dearness allowance, house rent allowance and superannuation.
(8) Fixed personal pay
Fixed personal pay is the last increment of the scale, frozen, plus the dearness allowance that was payable on it at the time of fixing. Under the 8th Joint Note it ran from ₹2,043 where the frozen increment was ₹1,990 to ₹3,306 where it was ₹3,220. Only the increment component ranks for superannuation, not the dearness allowance element. It is payable one year after reaching the maximum of the scale, and only to officers who were in service on or before 1 November 1993.
(9) Medical aid
| Scale | Amount a year |
|---|---|
| Scale I, II and III (JMGS and MMGS) | ₹10,300 |
| Scale IV and above (SMGS and TEGS) | ₹12,300 |
(10) Halting allowance and lodging
Halting allowance was paid per day of outstation duty, graded by scale and by the class of centre visited. From 1 November 2020 it ran from ₹1,200 a day for Scale I to III at other places to ₹2,700 a day for Scale VI and above in a metro. Lodging expenses were reimbursed against ceilings set by scale and centre. Both are reimbursements, not salary, and neither carries dearness allowance.
(11) Deputation allowance
Revised from 1 November 2020.
| Where deputed | Rate |
|---|---|
| To an organisation outside the bank | 7.75 per cent of pay, maximum ₹6,000 a month |
| Within the same organisation, or on training duty | 4.00 per cent of pay, maximum ₹3,000 a month |
(12) Compensation on transfer
Revised from 1 November 2020.
| Scale | Lump sum |
|---|---|
| Scale IV and above | ₹30,000 |
| Scale I, II and III | ₹25,000 |
(13) Hill and fuel allowance
| Altitude of the place | Rate and ceiling |
|---|---|
| 1,000 to 1,500 metres | 2 per cent of pay, maximum ₹1,125 |
| 1,500 to 3,000 metres | 2.5 per cent of pay, maximum ₹1,500 |
| Above 3,000 metres | 5 per cent of pay, maximum ₹3,000 |
(14) Project area, split duty and transfer allowances
| Allowance | Amount a month |
|---|---|
| Project area compensatory allowance, Group A | ₹600 |
| Project area compensatory allowance, Group B | ₹525 |
| Split duty allowance | ₹300 |
| Mid academic year transfer allowance, from 1 November 2020 | ₹1,650 |
(15) Provident fund and the National Pension System
| Scheme | Contribution |
|---|---|
| Pension optee, provident fund | Officer 10 per cent of pay, no dearness allowance in the base, and no matching contribution from the bank |
| National Pension System | Officer 10 per cent of pay plus dearness allowance on it; bank 14 per cent of pay and dearness allowance |
The bank’s own NPS contribution was raised from 10 to 14 per cent, approved by the Government in August 2021. These are not the same deduction and should never be described as one figure: on the same pay, the NPS member contributes more, because dearness allowance sits inside the base.
(16) Leave, encashment and family pension
Privilege leave encashment was 5 days a year, or 7 days for an officer aged 55 and above. Family pension was raised to 30 per cent of the deceased employee’s pay with no ceiling, approved by the Government in August 2021, which was one of the larger improvements of this round. Leave travel concession and the permitted mode of travel were graded by scale, with Scale I to III travelling by AC two tier and Scale IV and above by AC first class or by air in economy.
What counts for an officer’s pension and gratuity
This is where officer retirement figures most often go wrong, because the components that swell the gross are the ones excluded from retirement benefits.
| Component | Counts for pension and gratuity? |
|---|---|
| Basic pay including stagnation increments | Yes |
| Professional qualification pay | Yes |
| Officiating pay | Yes |
| Fixed personal pay, increment component only | Yes |
| Special allowance | No |
| Dearness allowance on special allowance | No |
| Learning allowance | No |
| House rent allowance | No |
| City compensatory allowance | No |
| Location allowance | No |
Special allowance alone is 16.40 per cent of basic pay at Scale I and 20 per cent at Scale VII, and it carries dearness allowance on top. Taking a pension or gratuity figure from gross salary therefore overstates it substantially.
How the officer scales were built from the 7th Joint Note
The scales were not invented. The previous officer scales were taken, the dearness allowance payable at 6352 index points was merged into basic pay at 47.80 per cent, and a loading of 2.50 per cent was added on top, a combined factor of about 1.51495.
| Scale | Previous first stage | 8th Joint Note first stage |
|---|---|---|
| Scale I | ₹23,700 | ₹36,000 |
| Scale II | ₹31,705 | ₹48,170 |
| Scale III | ₹42,020 | ₹63,840 |
| Scale IV | ₹50,030 | ₹76,010 |
| Scale V | ₹59,170 | ₹89,890 |
| Scale VI | ₹68,680 | ₹1,04,240 |
| Scale VII | ₹76,520 | ₹1,16,120 |
Applied to the previous scales, that factor reproduces the signed figures to within 0.29 per cent across all seven scales. It is the same method every bank wage revision since the 10th has used, and knowing it is what lets you check a fitment rather than take it on trust.
What replaced the 8th Joint Note
The 9th Joint Note, signed on 8 March 2024 alongside the 12th Bipartite Settlement, effective from 1 November 2022. It merged 30.38 per cent dearness allowance and added 3.22 per cent loading, which took Scale I from ₹36,000 to ₹48,480 and Scale VII from ₹1,16,120 to ₹1,56,500. Special allowance rose from 16.40 to 26.50 per cent at Scale I. The first-stage comparison below shows the size of the step at every scale.
| Scale | 8th Joint Note | 9th Joint Note |
|---|---|---|
| Scale I | ₹36,000 | ₹48,480 |
| Scale II | ₹48,170 | ₹64,820 |
| Scale III | ₹63,840 | ₹85,920 |
| Scale IV | ₹76,010 | ₹1,02,300 |
| Scale V | ₹89,890 | ₹1,20,940 |
| Scale VI | ₹1,04,240 | ₹1,40,500 |
| Scale VII | ₹1,16,120 | ₹1,56,500 |
If you are working out current pay rather than a historical figure, the 12th Bipartite Settlement calculator covers the settlement now in force, and the 12th Bipartite Settlement pay scale chart has the full stage by stage scales. The next revision, from 1 November 2027, is modelled in the 13th Bipartite Settlement projection calculator.
8th Joint Note and officer salary FAQs
Are bank officers covered by the 11th Bipartite Settlement?
No. Officers are covered by the 8th Joint Note dated 11 November 2020. The 11th Bipartite Settlement of the same date covers workmen, meaning clerical and subordinate staff. Both come from the same negotiation with the Indian Banks Association and take effect from 1 November 2017, but they are separate documents with different pay scales and different allowance rates.
What is the 8th Joint Note?
The agreement that fixed pay and service conditions for officers in Scale I to Scale VII of public sector banks from 1 November 2017 to 31 October 2022. Officer wage revision is executed as a joint note rather than as a settlement because officers are not workmen under the Industrial Disputes Act.
What was the Scale I basic pay under the 8th Joint Note?
Scale I, or JMGS-I, ran from ₹36,000 to ₹63,840 across 17 stages, written as 36000 - 1490/7 - 46430 - 1740/2 - 49910 - 1990/7 - 63840. After moving onto the Scale II stages and drawing stagnation increments, it reached ₹80,450.
What was an officer’s gross salary at Scale I?
At the first stage of Scale I in a Major A class city, on the final dearness allowance rate of the settlement at 36.82 per cent, gross was about ₹62,794 a month, including city compensatory allowance of ₹1,400. Net was about ₹59,194 for a pension optee and about ₹57,868 for an NPS member, before income tax and professional tax.
What is the special allowance for officers under the 8th Joint Note?
16.40 per cent of basic pay for Scale I, II and III, 19 per cent for Scale IV and V and 20 per cent for Scale VI and VII, with dearness allowance payable on it. It does not count towards pension, provident fund, NPS or gratuity.
What was the HRA for bank officers under the 8th Joint Note?
9 per cent of pay in Major A class cities, 8 per cent at other places in Area I and 7 per cent everywhere else. These differ from the workmen rate, which was a flat 10.25 per cent at every centre.
What is the difference between Scale I and JMGS-I?
Nothing. They are the same grade. Scale I is the pay scale number, JMGS-I is the grade code used in circulars, and the branch designation is usually Assistant Manager or Probationary Officer.
How is dearness allowance calculated for bank officers under the 8th Joint Note?
0.07 per cent of pay for every slab of four points above 6352 points in the quarterly average of the CPI-IW on the 1960=100 base. It is per slab of four points, not per point, and it runs on special allowance and learning allowance as well as on basic pay.
What is learning allowance for bank officers?
600 rupees a month with dearness allowance on it, payable to officers from 1 November 2017. It is an officer only allowance; workmen received a transport allowance of the same amount instead.
Does special allowance count towards an officer pension?
No. The joint note excludes it from superannuation benefits, which covers pension, NPS contribution, provident fund and gratuity. Since it is 16.40 to 20 per cent of basic pay and carries dearness allowance, including it would overstate a retirement figure considerably.
What replaced the 8th Joint Note?
The 9th Joint Note, signed 8 March 2024 and effective from 1 November 2022, alongside the 12th Bipartite Settlement for workmen. Scale I moved from ₹36,000 to ₹48,480.
How were the 8th Joint Note officer scales calculated?
By merging 47.80 per cent dearness allowance into the previous basic pay at 6352 index points, then adding 2.50 per cent loading, a combined factor of about 1.51495. That reproduces the signed scales to within 0.29 per cent.
The 8th Joint Note is closed and its figures are settled history, reproduced here for reference, pension and arrears checks. Individual banks implemented some clauses through their own circulars, so confirm a specific entitlement with your bank’s HR or pension department.
Written by Vishvas Yadav, Senior HR | Payroll & Compliance Professional, Founder of HR Calcy.