Post by Mr.Tarun Banerjee...State Bank of India

In Government organizations there are some inherent benefits that are assumed and confirmed with a job, for e.g., pension, medical benefits, LTA and DA. Usually no performance allowance is there, so people look for what is the basic pay or you can say cash in hand component. Definitely having the variable component related with performance will bring in more efficiency into the system. However in SBI, we have performance bonus, largely introduced to handle competition from the private sector banks. These are lucrative for attracting and retaining talent. Some other important benefits include loans at lower rates (can’t be disclosed), medical facilities and subsidized food.

Tarun Banerjee
Chief General Manager
State Bank of India
Ballygunge Branch
Kolkata