The IBPS PO Salary 2024 has been declared through an official notification. The aspirants who will be selected for the post of Probationary Officers, will be entitled to a monthly salary which will range between INR 52,000 to INR 56, 000 per month. This will include all the allowances such as dearness allowance, house rent allowance, medical allowance and other allowances as well. However, the basic pay will be around INR 36,000. The job role will be demanding multiple responsibilities such as handling banking transactions, loan queries, maintaining records, conducting audits and many more tasks. Examine the salary, job profile and in-hand salary specifics closely from the article below.
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IBPS PO Salary 2024
You must gauge the salary specifics thoroughly in order to avoid any errors. There is an in-hand salary with allowances as an entitlement for all the IBPS PO officers. Apart from that, the salary will be according to the 7th Pay Commission. Moreover, the candidates after selection will have to perform several important duties as Institute of Banking Personnel selection Probationary officers. The basic pay band of the IBPS PO will range around INR 36,000 (per month) and rest will be allowances. To know more about the salary, and continue reading the article.
IBPS PO Inhand Salary
The IBPS PO in-hand salary will be an entitlement for all the Probationary Officers. The basic pay will be around INR 36,000. This will also include certain allowances and perks such as dearness allowance, travel allowance and medical allowance etc. This implies that the take home salary will be between INR 52,000 to INR 56,000 per month. Refer to the salary structure below to examine the salary specifics.
| IBPS Bank PO Salary Structure | |
| Basic pay | INR 36,000 |
| DA | 23.87% of the Basic Pay (Varies based on inflation rates) (INR 8593 for basic pay of INR 36,000) |
| HRA | 7%-9% of the basic pay (For Eg: 3240 for the basic pay of INR 36,000) |
| City Compensatory Allowance (CCA)/LOC A | 3% or 4%(depending on the place of posting) (For Eg: INR 1400) |
| Special Allowance | 7.75% of the basic pay (INR 5904 for the basic pay of INR 36,000) |
| DA others | Rs. 1552 |
| Learning Allowance | Rs. 600 |
| Prof Tax | Rs. 200 |
| Cont to NPS | Rs. 4459 |
| Gross Salary | Rs. 57,289 |
| NET Salary after deduction of INR 4659 | Rs. 52,630 |
IBPS PO Allowances
As with any government job, there are numerous benefits associated with an Institute of Banking Personnel Selection PO’s position. An IBPS PO’s salary includes perks that are entitled to be included in the compensation package for employees. A few of them are housing allowances, dearness allowances, pensions, etc. For more information, see the section below.
- Dearness Allowance (DA): This allowance is given out to offset inflation and is updated on a regular basis in accordance with the cost of living index.
- House Rent Allowance (HRA): This amount varies by posting city and is given to pay rental expenses. Whether the posting is in an urban, semi-urban, or rural location will determine the HRA proportion, which can be anything between 8% and 24% of the base pay.
- Medical stipend: To help with medical costs for the Probationary Officers and their family, a set monthly stipend is provided.
- Transport Allowance: This benefit pays for transportation costs and is based on the distance and posting place.
- Allowance for Uniform Maintenance: The department reimburses PO’s to keep their uniforms up to date and in compliance.
- Generous leave entitlements ensure ample time for relaxation.
IBPS PO Job Responsibilities
The IBPS PO position demands extensive determination and multiple tasks from you. As an IBPS Probationary Officer, the job responsibilities include overseeing various banking operations, maintaining customer relations and various other important tasks:
- Handling customer service and account management
- Handle the processing of Loans and financial transactions.
- Promotion of banking products,
- Ensuring compliance with banking regulations, resolving customer queries, and handling administrative duties.
- They play a pivotal role in maintaining branch operations and fostering customer relationships.
- Conducting audits and implementing strategic initiatives
- Their role demands strong analytical skills, leadership abilities, and a thorough understanding of banking practices and financial markets.
IBPS PO Job Growth
The candidates who will qualify the IBPS PO exam can expect a boost in their career growth as the position of a PO is emerging as a promising domain. Initially joining as a Probationary Officer will be an accountable job profile. But gradually you can switch to higher positions through internal exams and performance reviews. With experience and additional qualifications, you can get promotions as an Assistant Manager, Branch Manager, and ultimately reach higher managerial positions like Regional Manager or even Chief Manager in larger banks. The banking sector comprises various opportunities for skill development and specialization in areas such as operations management and customer relations. You will be able to keep a continuous learning and adapt to a new banking technology. You can also look for career advancement options by opting for higher education options for career advancement.
The structured career path in banking will not only provide you with job security but also offers attractive perks and benefits, making it a rewarding career choice.
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| Exam Related Links- | |
| IBPS PO Recruitment 2024 | IBPS PO Syllabus 2024 |
| IBPS PO Eligibility | |
Hopefully, this information was useful for all the aspiring candidates preparing for the government exams. Check DailyExamNews to stay informed about the latest recruitments, tests, vacancies, and developments regarding government exams.