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IBPS PO Salary 2024, In-Hand Salary, Salary Slip, and Perks

IBPS PO Salary 2024

The Institute of Banking Personnel Selection has laid down the IBPS PO Salary 2024 in detail. As per official data, an IBPS PO gets a handsome salary along with a dozen of perks and benefits which in turn tempts the government job aspirants to apply for this job. The IBPS PO Salary 2024 is one of the main driving forces for candidates appearing for the post. The IBPS PO salary is one of the major reasons for candidates to get into the banking domain apart from security, lucrative perks, and allowances.

The basic pay for IBPS Probationary Officers (PO) in 2024 is Rs. 36,000, with a gross salary of Rs. 57,289.70 and a net salary of Rs. 52,630.38 after deductions. The candidates who are preparing for the IBPS PO 2024 must be curious about the IBPS PO Salary 2024. Check all the details about IBPS PO Salary, Job Profile, Career Growth, and Promotion Policy of  IBPS PO.

IBPS PO Salary Structure 2024

The IBPS Probationary Officer’s salary in 2024 includes a basic pay of Rs. 36,000, special allowances of Rs. 5,904, dearness allowances of Rs. 8,593.20, city compensatory allowances of Rs. 1,400, house rent allowance of Rs. 3,240, learning allowance of Rs. 600, and other allowances of Rs. 1,552.50. After deductions, the net salary is Rs. 52,630.38.

Type of Pay Amount
Basic Pay Rs 36,000/-
Special Allowances Rs. 5,904
Dearness Allowances Rs. 8,593.20
City Compensatory Allowances Rs. 1,400
House Rent Allowance Rs. 3,240
Learning Allowance Rs. 600
Other Allowances Rs, 1552.50
Gross with HRA Rs 57,289.70/-
Deduction Rs. 4,659.32
Net Salary Rs. 52,630.38/-

IBPS Calendar 2024 Out – Click Here To Download

IBPS PO Pay Scale

The salary for the IBPS Probationary Officer is Rs. 36000/- along with some other additional allowances and some deductions. The net In-hand IBPS PO Salary 2024 is estimated to be Rs. 52,630/-. Check the IBPS PO Salary in India after Bipartite Settlement below.

IBPS PO Salary In India After Bipartite Settlement

Wage revision in public sector banks is held place every five years. The 11th bipartite settlement has been effective from November 1, 2017. The revised IBPS PO Salary is based on the revisions made to the bipartite settlement. Therefore, for IBPS PO 2024, the salary has been decided based on the 11th Bipartite Agreement.

IBPS PO Salary Slip

Candidates searching for the IBPS PO Salary Slip can check the salary slip below. Here we have shown the salary slip of an employee for the IBPS PO Post having the details distribution of salary.

IBPS PO Salary 2024, In-Hand Salary, Salary Slip, and Perks_40.1

IBPS PO Perks And Allowances 2024

As said earlier, it is not just the salary that is the tempting force, but it is also the Perks and Allowances that one receives as an IBPS PO. The following are the perks that are enjoyed by an IBPS PO:

  1. Leased Accommodation – This benefit is dependent upon the place of posting and is available to the bank officers. Some banks provide official bank accommodation/bank quarters instead of leased housing.
  2. Travelling Allowance – Most banks provide a fixed Traveling Allowance and reimbursement of petrol bills.
  3. Medical Aid – Revised price is Rs 8000/- p.a. This is the amount for the medical needs of the employee.
  4. Newspaper Reimbursement: A fixed monthly amount for newspaper service.
  5. Coverage under New Pension Scheme

IBPS PO Job Profile

IBPS PO is one of the reputed jobs in the banking sector and provides many lucrative offers to employees. Probationary Officer is trained for multiple operations such as finance, accounting, billing, investment, revenue collection, etc. during his/ her probation period to acquaint them with the banking procedure.

1. Resolving customer queries at the branch

2. Maintaining and supervising regular branch activities

3. Public relations and addressing issues and grievances of customers

4. Directing daily transactions of customers and processing loan(s) detail

5. Bringing new businesses to the bank branch

IBPS PO Salary, IBPS PO Promotion

The public sector banks follow uniform guidelines issued by the Ministry of Finance, Government of India, regarding promotion policy matters. The stages of promotion for an IBPS PO are given below.

  1. Middle Manager – Middle Management Grade Scale 2
  2. Senior Manager – Middle Management Grade Scale 3
  3. Chief Manager – Senior Management Grade Scale 4
  4. Assistant General Manager – Senior Management Grade Scale 5
  5. Deputy General Manager – Top Management Grade Scale 6
  6. General Manager – Top Management Grade Scale 7
  7. Executive Director
  8. Chairman and Managing Director

Participating Bank For IBPS PO 2024

The participating banks for the IBPS PO 2023 are given below. For IBPS PO 2024, the list will be updated with the notification

Banks Participating In IBPS PO 2023
1. Bank of Baroda
2. Bank of India
3. Bank of Maharashtra
4 Canara Bank
5. Central Bank of India
6. Indian Bank
7. Indian Overseas Bank
8. Punjab National Bank
9. Punjab & Sind Bank
10. UCO Bank
11. Union Bank of India

Also, Check, 

IBPS PO Syllabus IBPS PO Exam Pattern
IBPS PO Previous Year Question Paper IBPS PO Cut Off (Previous Year)
IBPS PO Selection Process 

 

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FAQs

What is the basic pay for an IBPS PO?

Ans. The basic pay of a Probationary Officer is Rs.36,000.

What are the perks of an IBPS PO?

Ans. As an IBPS PO, the employee is entitled to get medical facility, newspaper allowance, Travel Allowances, HRA, DA, and other allowances.

What is the highest post at which a person becomes as an IBPS PO?

As an IBPS PO, the employee may get promoted to the rank of Chairman and Managing Director.

How many times does the IBPS PO Exam take place?

Ans. IBPS PO Exam is held annually.

What is the Selection Procedure of IBPS PO Exam?

The Selection Procedure of IBPS PO Exam is Prelims, Mains And Interview.

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1 Comment

  1. jayannpol@gmail.com
    Compared to central govt jobs officers in banks are loaded with large number of multiple job assignments, with huge financial responsibilities. Also pay for a bank officers are inferior to peer Group B officers in central Governments….. It has been a total injustice in banks since 2006 onwards

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