IBPS PO Salary 2024 The candidates chosen to fill the IBPS PO post is assigned to Junior Management Grade Scale (JMGS-I) post. At the beginning you will earn the IBPS PO salary is around 36000 rupees and includes other allowances. The applicants can go through all pay scales for the IBPS PO details on this page. It will allow them to decide if the position meets their needs.
The amount of compensation IBPS PO receives is determined by the Bipartite Agreement signed between IBPS and the Indian Banks’ Association alongside Bank employees. The most recent version, known as known as the 12th Bipartite Settlement, was approved by both organizations on the 12th of March, 2024. According to the agreement there will be increases of 17% on basic pay of the Basis Pay for banks who have bank PO. Furthermore, other elements of compensation will see adjustments that are in the same manner as this increase.
IBPS PO Salary & Allowances An Overview
| Recruitment Agency | Institute of Banking Personnel Selection (IBPS) |
| Post Name | Probationary Officer (Bank PO) |
| Starting Basic Pay | Rs 36000 (per month) |
| Allowances | DA, HRA, CCA, LTC, etc |
| Official Website | ibps.in |
IBPS Salaries Structure for Probationary Officers
The pay package of IBPS PO includes a variety of elements which can be reduced or increased in the total amount. This framework of compensation covers various details, including that of the basic salary the Special Allowance as well as Dearness Allowance (DA), House Rent Allowance (HRA), City Compensatory Allowance (CCA) and Learning Allowance and many more. Check out the following table for more details.
| Specifics | Amount (INR) | Actuals (INR) |
|---|---|---|
| Basic pay | 36000 | 36, 000 |
| HRA | 7-9% of the basic pay | 3240 |
| DA | 23.87 percent of Basic Pay | 8593 |
| Special Allowance | 7.75 percent of the basic pay | 5904 |
| CCA/LOC A | 3or 4 percent (depending on the location of posting) | 1400 |
| DA Others | 1552 | 1552 |
| Learning Allowance | 600 | 600 |
| NPS Contribution | 4459 | -4459 |
| Professional Tax | 200 | -200 |
| Gross Salary | 57289 | 52630 |
| Salary In-Hand | 52630 | 52630 |
IBPS PO Career Progression and Promotion Opportunities
Career advancement based on performance is a standard in public sector banks, following the standard promotion rules that are set through the Finance Ministry. Promotions typically occur through two methods that are direct merit and normal advancement. The progression for those who start into the ranks of IBPS Probationary officers in the Junior Management Grade Scale I usually attain the level of Manager in the middle of the Management Grade Scale-2 and Senior Manager in the Middle Management Grade Scale-3. The roles are later opened for more senior positions including Chief Manager AGM, DGM, General Manager, etc.
IBPS PO Job Profile
The essential responsibilities of the Probationary Officer (PO) of the Institute of Banking Personnel Selection (IBPS) cover a wide array of duties required to effectively manage banks. When they begin their training, POs are equipped with the skills and knowledge required to oversee different banking operations, including but not limiting themselves to financial, accounting, investment as well as the administration of billing and revenue. They are essential in solving issues with customers, directing the operations of their branch and in ensuring that it runs smoothly. A part of their responsibilities includes:
Be sure to address any concerns or complaints to the authorities in charge.
Attracting new businesses.
Monitoring daily transactions and loan procedures.
Maintaining a positive relationship with the bank’s clients.