NABARD Grade A Salary: CTC, In-Hand, Allowances, & Perks

Have you ever noticed how a job’s salary and perks greatly impact our decision to prepare for its exam? If you are planning to take the NABARD Grade A exam soon, you must also be curious about the salary you will get once you clear the exam. In this article, I will discuss everything you need to know about the salary of NABARD Grade A officer in detail.

Below, I have broken down the NABARD Grade A officer salary into various components, including the CTC, allowances, perks, benefits, and more. I’ll also compare the NABARD Grade A salary with those of IAS, RBI Grade B, SEBI Grade A officer, IBPS PO, and SBI PO.

All this information will help you determine if the post of the NABARD Grade A officer aligns with your financial needs and career goals. However, if you’re already preparing for the exam, the salary, allowances, and other benefits the NABARD Grade A officer gets, will motivate you further and help you stay focused on your goal.

CTC of NABARD Grade A Officer

Let’s start by looking at the CTC.

Based on the latest updates, the current CTC of the NABARD Assistant Manager is around ₹21 lakhs per annum, making it one of the most lucrative packages available to government employees.

Now let’s discuss the salary structure of a NABARD Grade A officer in detail.

NABARD Grade A Salary Structure

Now that you know a NABARD officer’s CTC, let’s have a look at the detailed salary breakdown.

The starting basic pay of NABARD Grade A officers is ₹44,500 per month. Allowances like house rent allowance (HRA), dearness allowance (DA), etc., are added to this amount to form the gross salary a NABARD Grade A officer makes.

NABARD Grade A Gross Salary

Important Note: DA is given as % of NABARD Grade A basic pay which keeps on varying.

As per the latest notification, the monthly gross emoluments for NABARD Grade A officers are around ₹1,00,000, which adds up to ₹12 lakh per annum.

Now, is this all you are getting? No, there is so much more in the form of several monthly and yearly allowances that are added to this amount.

So, Let’s discuss all that in this article.

NABARD Grade A Salary Allowances

In addition to the salary, as an NABARD Grade A officer, you’ll get various allowances.

A NABARD Grade A officer gets some monthly allowances that sum up to around ₹8 lakhs per annum and some annual and biennial (given every two years) allowances, which add up to around ₹1 lakh per annum.

NABARD Grade A Salary: Monthly Allowances

Here I have listed all the monthly allowances you will get as a Grade A officer:

Fuel Allowance for NABARD Grade A Manager

NABARD Grade A managers are also eligible for a monthly allowance to cover their fuel expenses incurred when travelling between the office and their residence. The allowance amount is around ₹21,000, which varies with location. 

• As a base allowance, you are entitled to reimbursement for 150 litres of fuel.
• However, if you’re working in metro cities like Delhi, Bangalore, etc., this allowance increases to 180 litres (30 litres extra).
• Finally, for officers in Mumbai, this allowance covers up to 200 litres of fuel (50 litres extra).

Household Allowance for NABARD Grade A Officer

Employees get a household allowance of ₹5,000 per month.

Internet and Newspaper Allowance for NABARD Grade A

NABARD offers you ₹1,500 per month for internet and ₹800 per month for newspapers.

Equipment Maintenance Allowance for NABARD Officer

Officers receive ₹500 per month to cover maintenance expenses for various equipment they may use during their duties.

HRA (House Rent Allowance) for NABARD Grade A

NABARD provides housing accommodation to its officers. However, if Grade A officers are unable to obtain housing through NABARD due to a lack of available units, they are entitled to receive an HRA allowance of around ₹25,000.

Children Education Allowance for NABARD Grade A

NABARD offers an allowance of ₹7,000 per month per child, up to a maximum of two children. 

Sodexo Coupon for NABARD Grade A Manager

NABARD provides ₹3,600 monthly in Sodexo coupons. These coupons can be redeemed for food purchases in the canteen or designated stores like Big Bazaar. 

Mobile Allowance for NABARD Grade A Manager

To ensure their employees are reachable if and when needed, monthly mobile calls and data charges of up to ₹1,100 are given.

All these monthly allowances amount to approximately ₹65,500 per month, offering a boost to the overall salary of NABARD Grade A officers. 

I have summarized this information in the table below.

Apart from monthly allowances, NABARD Grade A officers are also entitled to annual allowances.

NABARD Grade A Salary: Annual Allowances

Below, I have mentioned the list of various annual allowances you’ll receive as a NABARD Grade A officer:

Book Grant Allowance

Employees receive a book grant of ₹7,000 annually, intended to support their professional development through acquiring books or related educational materials.

Medical on Declaration

Amounting to ₹13,000 annually, it covers medical expenses based on employee declarations. 

Briefcase Allowance

A NABARD Grade A manager receives an annual briefcase allowance of ₹4,000 to support work-related organization and mobility.

Furniture Allowance

The furniture allowance amounts to ₹55,000 and is disbursed once every 5 years to support the purchase or maintenance of furniture to furnish their living quarters.

Spectacles Allowance

Employees are provided ₹9,000 for spectacles every 2 years. It is also extended to their spouse. 

LFC (Leave Fare Concession)The leave fare concession (LFC) allowance provides ₹15,000 per person once every 2 years for a maximum of 4 dependent individuals. This facilitates travel during leave, encouraging relaxation and spending time with family.

The total of these allowances amounts to approximately ₹1,03,000 per year. These allowances collectively contribute to the NABARD Grade A officers’ compensation beyond their regular salary.

I have mentioned the above details summarized in the table below.

Adding all these components, i.e., the salary of ₹12 lakhs per year, monthly allowances of ₹8 lakhs per year, and annual allowances of ₹1 lakh per year, the salary of NABARD Grade A officer is approximately ₹21 lakhs per annum. 

Find out what makes the NABARD Grade A Officer Lifestyle so balanced and rewarding.

Now that you have understood the total salary of a newly recruited NABARD officer, it is time to understand the in-hand salary of an NABARD assistant manager. 

In Hand Salary of NABARD Grade A Officer

As per the official NABARD Grade A notification, the total gross salary of a Grade A officer is approximately ₹100,000. However, there is a deduction of around ₹19,000 to this amount. 

Important Points: 

• Whatever the deduction in NPS, NABARD will contribute an equal amount to your NPS account.
• The salary deduction can vary from officer to officer depending on the variations in allowances and claims.

The latest in-hand salary of an NABARD Grade A officer after all deductions is as follows:

After NPS contribution and tax deduction, a NABARD Grade A officer draws approximately ₹9-10 lakhs per annum.

NABARD Grade A Officer Salary: Additional Perks and Benefits

Shared below is the list of additional perks that a NABARD Grade A assistant manager gets:

1. Loans at Concessional Rates

NABARD Grade A officers can take up loans for multiple purposes (children’s education, house, car, personal computer, and more) at extremely affordable interest rates of around 5.5% per annum.

2. Medical Reimbursement for Family

As a NABARD Grade A manager, you can get reimbursed for your family’s medical expenses.

3. Reimbursement for Higher Studies

If you plan to pursue higher studies, even at the most prestigious institutions, NABARD will bear your educational expenses. However, to enjoy this perk, you must complete your probation and choose a course that aligns with the organization (NABARD) in some way.

4. Group Term Insurance

NABARD offers a group term insurance to NABARD Grade A officers. This offers the necessary financial support to the officer’s family should anything unfortunate happen.

After understanding the perks of working as a Grade A officer in NABARD, let’s understand the leave policy.

Leaves for NABARD Grade A Officer

A newly recruited NABARD Grade A officer has the same leave quota as that of a serving officer after their probation period.

Ordinary Leave

You get 1 ordinary leave for every 11 days, which you can accumulate for a maximum period of up to 10 months.

Casual Leave (CL)

As a NABARD Grade A officer, you get 15 days of casual leave in 1 calendar year, which you can accumulate for up to 3 years.

Medical/Sick Leave

NABARD Grade A officers get 1 sick leave per month, which can be accumulated for as long as you want. A Sick Leave can also be taken by forgoing half of the average pay or taking 2 days of Sick Leave at full pay.

Study Leave

Study leave is a special type of leave that only gets confirmed once the officer meets certain terms and conditions.

NABARD keeps updating these rules as per the latest developments in terms of service.

Find out the responsibilities and opportunities that come with the NABARD Grade A job profile.

Annual Increment in NABARD Grade A Officer Salary

The official NABARD notification states that the pay scale for a NABARD Grade A Officer is ₹44500 – 2500(4) – 54500 – 2850 (7) – 74450 – EB – 2850 (4) – 85850 – 3300 (1) – 89150 (17 Years). Here is a detailed explanation of the annual increment:

• NABARD Grade A officers start with a monthly basic pay of ₹44,500.
• They receive annual increments of ₹2,500 for the first 4 years.
• After 4 years, their basic pay increases to ₹54,500, and further increments of ₹2,850 per year continue for the next 7 years.
• After 11 years, the basic pay reaches ₹74,450, and annual increments of ₹2,850 per year continue for the following 4 years.
• After 15 years, the salary reaches ₹85,850, and an annual increment of ₹3,300 continues for the next 1 year.
• After the completion of 16 years, the maximum basic pay reaches ₹89,150.

Important Note: We have mentioned the annual increment on the basic salary as it is a fixed component for all the NABARD Grade A officers. Besides this, you are also eligible to get allowances, which can vary from person to person. 

I have summarized the above information in the table given below.

NABARD Grade A Officer Salary After 5, 10, 15, 20, & 25 Years

Here is the average salary of a NABARD Grade A officer after 5, 10, 15, 20, and 25 years:

Important Note: This is just the basic salary (without allowances). 

Now let’s learn about the promotions.

NABARD Grade A Officer Promotions

NABARD offers ample promotion and career growth opportunities for the NABARD Grade A managers. Here’s an overview of the promotion hierarchy:

Important Note: Cracking the NABARD Grade A exam offers a fast-track career path. You’ll join as an assistant manager, which will put you a step ahead in the NABARD hierarchy.

NABARD Grade A Officer (Assistant Manager)

Probation Period: Typically, there is a 2-year probation period for a NABARD Grade A officer, which can extend up to 1 year at the bank’s discretion.

Promotion: After completing 4 years, you directly become eligible for the role of a Grade B officer (Manager), as this promotion is not based on the available vacancies. 

NABARD Grade B Officer (Manager)

After completing at least 5 years as a Grade B officer, you will become eligible to apply for the post of the NABARD Grade C officer, provided there is a vacancy. This promotion involves an interview but no written test of any type.

NABARD Grade C Officer (Assitant General Manager)

After completing at least 4-5 years as a Grade C officer, you become eligible for the post of Grade D officer. This promotion involves both an interview and a written test.

NABARD Grade D Officer (Deputy General Manager)

After serving as a Grade D officer for at least 4 years, you become eligible to apply for the post of the NABARD Grade E officer. This promotion is not vacancy-based and involves an interview.

NABARD Grade E Officer (General Manager)

After completing around 4-5 years as a Grade E officer, you become eligible for the post of Grade F officer. Whether you will get promoted as a Grade F officer entirely depends on your performance and career profile at NABARD.

NABARD Grade F Officer (Chief General Manager)

There is no set duration for which you must serve as a Grade F officer to get promoted to Deputy Managing Director. Also, no written test is involved. The government of India directly appoints the Deputy Managing Director at NABARD.

Deputy Managing Director

Once you are the Deputy Managing Director, you’re just one step from reaching the highest post in NABARD: Chairperson. However, it’s completely in the hands of the government to appoint the Chairperson.

Chairperson

The Chairperson’s post is the highest you can reach at NABARD. 

I have summarized all the information discussed above in the table below.

Post-Retirement Benefits for NABARD Grade A Officers

NABARD officers receives various benefits even after the completion of their services. Here are the post-retirement benefits NABARD officers get:

Pension in Accordance to the National Pension Scheme

NABARD Grade A officers are entitled to a pension post-retirement:

• Officers who joined after the implementation of the National Pension System (NPS) will receive their pension under the NPS. 

• Officers who opted for the earlier pension scheme will receive a fixed monthly pension based on their salary at the time of retirement. 

Gratuity

NABARD Grade A officers get a gratuity (lump sum) when they retire as a reward for their service. Not every NABARD Grade A officer will receive the same gratuity. The actual amount usually depends on the employee’s last salary, tenure, etc.

Leave Encashment

Upon retirement, you can encash (exchange your leaves for cash) your unutilized leaves at NABARD.

Now, let’s compare the salary of a NABARD Grade A officer with that of other government services and organizations.

Crack the exam with an effective, practical NABARD Grade A Preparation Strategy.

IAS Vs NABARD Grade A Salary

Here is the comparison between the salary of an IAS officer and a NABARD Grade A officer:

NABARD Grade A Vs RBI Grade B Salary

Have a look at the comparison between the salary of a NABARD Grade A officer and RBI Grade B officer:

SEBI Grade A Vs NABARD Grade A Salary

Shared below is the comparison between the salary of a SEBI Grade A officer and a NABARD Grade A officer:

Bank PO Vs NABARD Grade A Salary

Look at the comparison between the salary of Bank PO and NABARD Grade A officer:

*A regular SBI PO receives a basic pay of ₹36,000 per month. However, an SBI PO (recruited through the SBI PO exam) gets appointed with 4 advance increments, effectively increasing their starting basic pay to ₹41,960 per month. These advance increments are not actual promotions. They only provide a head start in terms of basic salary.

Life as a NABARD Grade A Officer

Here’s what the life of a NABARD Grade A officer generally looks like:

Primary Responsibilities

A NABARD Grade A officer’s primary role is to help improve the lives of agrarian communities in India by implementing and monitoring different government policies, schemes, and programs. You get to execute various state and central government programs related to agriculture and rural development and work with liaisons from banking institutes.

Work-Life Balance

While the workload can be demanding, NABARD Grade A officers follow a gracious 9-5 work schedule. The bank values work-life balance and understands the importance of employee well-being.

Postings and Transfers

NABARD Grade A officers usually serve their probation period (2 years) in a city away from their home state. Grade A officers are posted in tier-1 and tier-2 cities, generally confined to state capitals, once their probation comes to an end. So, you can contribute to improving the lives of people in rural areas while enjoying the perks of city life.

Once you have served at a particular location for a set duration, you become eligible for transfer. You can choose from multiple zones (South, East, West, North, North East, Andaman, and Jammu and Kashmir and then select a state within that zone. 

Note. The transfers are subject to the availability of vacancies.

Conclusion

The NABARD Grade A officer’s position comes with a lucrative salary package at around ₹21 lakhs per annum, making it an attractive career choice for aspirants. In addition to a respectable salary, NABARD Grade A officers get many allowances, including reimbursements for health and higher education, term insurance, and regular increments & promotions.