Now Find Out What is The Bank Po Salary In India Across Banks here.
The updated IBPS PO salary has been decided on the basis of 11th Bipartite Agreement in November 2020.
- The wage revision for bank employees is held every 5 years.
- The revised IBPS PO Salary has been made effective from November 2020.
- The basic pay has been revised to Rs. 36,000.
- The net salary of IBPS Salary is Rs. 52,630.38.
- Check out the List Of Nationalized Banks In India.
The IBPS PO Salary is lucrative and rewarding, this article will cover all the details related to the IBPS PO Salary.
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Table of Contents
- IBPS PO Salary Structure
- IBPS PO In-hand Salary
- IBPS PO Allowances and Benefits
- IBPS PO Job Profile
- IBPS PO Career Growth
- IBPS PO Salary Slip 2022
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|IBPS PO Salary||Amount|
|Basic Pay||Rs 36,000/-|
|Salary after 1 st Increment||Rs. 32850/-|
|Salary after 2nd Increment||Rs.|
|Special Allowances||Rs. 5,904 (7.75% of the basic pay)|
|Dearness Allowances||Rs. 8,593.20 (23.87% of the Basic Pay (Varies based on inflation rates)|
|City Compensatory Allowances||Rs. 1,400 (3% or 4%(depending on the place of posting)|
|House Rent Allowance||Rs. 3,240 (7%-9% of the basic pay)|
|Gross with HRA||Rs 38, 703.38|
|Medical Aid||Rs 8000|
|Canteen Subsidy||Rs 400|
|Pension Contribution||Rs 25000|
|Gross Annual CTC(with HRA but without leased accommodation)||Rs. 57,289.70|
You may also read:
The initial in-hand salary offered to an IBPS Probationary Officer is Rs. 52,000 to 53,000
The participating banks for the IBPS PO posts are given below:
- Allahabad Bank
- Canara Bank
- Indian Overseas Bank
- Syndicate Bank
- Andhra Bank
- Central Bank of India
- Oriental Bank of Commerce
- UCO Bank
- Bank of Baroda
- Corporation Bank
- Punjab National Bank
- Union Bank of India
- Bank of India
- Indian Bank
- Punjab & Sind Bank
- United Bank of India
- Bank of Maharashtra
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- Dearness Allowance
- House Rent Allowances
- City Compensatory Allowance(CCA)
- Medical Insurance
- Furniture Allowance
- Travelling Allowance
Leave Travel Subsidy
Household Help Allowance
Personal Accident cover
Education loans with subsidized interests
Interest-free advances for the festival
City Compensation Allowance
|Dearness Allowance||40% of the basic pay(Varies based on inflation rates)|
|City Compensatory Allowance(CCA)||3% or 4%(depending on the place of posting)|
|House Rent Allowances||7%-9% of the basic pay|
|Special Allowance||7.75% of the basic pay|
The allowances as a part of IBPS PO salary are as follows:
House Rent Allowance: The 11 th Bipartite Settlement has finalized the rate of HRA that varies on the classification of cities proposed by the government. The detailed calefaction of HRA is mentioned below.
Travelling Allowance: The selected candidates for group X cities will be provided with Rs 3600 transport allowances while the other two will be given an Rs 1800 traveling allowance for compensating their traveling to cities.
Medical Allowance: The reimbursement of all medical expenses of the treatment to the government employee or their family will be done by the government.
Special Security Allowance: This allowance has been included in the last wage revision for the banks. It is about 7.75% of the basic pay. It came into effect from November 2017.
IBPS PO City Compensatory Allowance (CCA): Based on the type of city, it might be 0%, 3% or 4%.
Pension: This is the most attractive benefit of any government job because even after your retirement in your old age you will be provided with a handsome amount every month for your expenses and a part of this will be deducted from your salary every month.
|SBI PO Salary||IBPS RRB PO Salary||SBI Salary|
|ICICI Bank PO Salary||SBI CBO Salary||IBPS RRB Office Assistant Salary|
They verify various documents and proofs submitted by the customers
They are tasked with checking and approving checks.
They are responsible for the bank vault, various important documents, keys and work with core banking solutions.
They sanction the withdrawals by the customers
They give advice on financial matters, help in designing financial products etc.
- Middle Manager – Middle Management Grade Scale 2
- Senior Manager – Middle Management Grade Scale 3
- Chief Manager – Senior Management Grade Scale 4
- Assistant General Manager – Senior Management Grade Scale 5
- Deputy General Manager – Top Management Grade Scale 6
- General Manager – Top Management Grade Scale 7
- Executive Director
- Chairman and Managing Director
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|IBPS Clerk Salary||IBPS Clerk Eligibility||Canara Bank PO Sala|
The following list includes the many duties of an IBPS PO:
- Participating in all banking activities is the main task.
- They occasionally have to assume control over several areas, including finance, accounting, marketing, loans, etc.
- Another important aspect of their business is the processing of loans and document verification.
- Additionally, government tests offer significant employment opportunities, salaries, and designations as well.
You can now have a look at the latest IBPS PO Salary, from an official salary slip paid out to one of the selected candidates. The IBPS PO Salary slip is attached below: