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IBPS has finally released the much-awaited IBPS RRB 2024 Notification in its official website ibps.in. The notification is released for Recruitment of Officers (Scale-I, II & III) and Office Assistant in Regional Rural Banks (RRBs) – CRP RRBs IX. Applicants are always keen about the Pay-Scale, In-hand Salary, Perks & Allowances that the post will offer them. Salary is one of the major driving factors for Government job aspirants. Therefore, in this article, we will discuss the IBPS RRB PO Salary 2024.
Candidates who have successfully filled their IBPS RRB Online application form and started their IBPS RRB Preparation can now check the Complete Details about IBPS RRB office assistant job profile and IBPS RRB PO salary with their duties.
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| IBPS Bank PO Salary Structure in India | |
| 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 | INR 1552 |
| Learning Allowance | INR 600 |
| Prof Tax | INR 200 |
| Cont to NPS | INR 4459 |
| Gross Salary | INR 57,289 |
| NET Salary after deduction of INR 4659 | INR 52,630 |
IBPS PO Salary In-hand
When you get hired as an IBPS Probationary Officer, your starting IBPS PO Salary 2024 package is between Rs. 52,000 to 55,000. This includes various components like dearness allowances, special allowances, house rent allowance (HRA), and other additional benefits. Your gross salary before any deductions is around Rs. 57,000. After taking out the necessary deductions, your actual in-hand salary will be around Rs. 52,000 to 55,000, which is the amount you’ll receive in your bank account.
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IBPS PO Salary 2024 Job Profile
1: What does the acronym "ATM" stand for in banking?
Probationary Officer in the banking sector has a good reputation and is the most wanted position among graduates. Many banking aspirants are curious about the functions and responsibilities of the PO employee. We have defined the work profile, responsibilities, and tasks that a Probationary Officer must handle after being selected in this section.
- During their probation period, newly selected candidates undergo training to handle various day-to-day banking tasks like finance, accounting, billing, investments, and revenue collection.
- A PO is responsible for assisting and resolving customer queries.
- The PO is in charge of overseeing and managing activities at their assigned branch.
- As a PO, they need to identify and explore new business opportunities for the branch.
- POs handle the supervision of daily transactions and loan-related activities.
- Maintaining good public relations with customers is a crucial part of their role, and they also need to report customer issues and grievances to higher bank authorities.
This sums up the key responsibilities of a Probationary Officer in the banking sector.
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IBPS PO Salary 2024 Perks & Allowances
Check the below table for quick overview of IBPS PO Salary 2024 Perks & Allowances:
| IBPS PO Allowances | |
| IBPS PO Basic Pay | Rs 36,000/- ( Increment in 4 stages) |
| House Rent Allowances | 7%-9% of the basic pay |
| Dearness Allowance | 23.87% of the Basic Pay (Varies based on inflation rates) |
| City Compensatory Allowance (CCA) | 3% or 4%(depending on the place of posting) |
| Special Allowance | 7.75% of the basic pay |
IBPS PO House Rent Allowance (HRA): The HRA is a part of the IBPS PO Salary 2024 that varies depending on the city where the PO is posted. It can be 9.0%, 8.0%, or 7.0% of the basic salary, depending on whether it’s a metro city, a big city, or another location.
IBPS PO Dearness Allowance (DA): DA is an allowance given as a percentage of the basic salary. It is revised every three months based on the inflation rate, which is measured by the All India Consumer Price Index Data published by the Government of India.
IBPS PO Special Allowance (SA): Approximately 7.75% of the base pay is made up by this allowance, which was increased during the most recent wage adjustment. It became active in November 2017.
IBPS PO City Compensatory Allowance (CCA): CCA varies based on the type of city. It can be 0%, 3%, or 4% of the basic salary.
In addition to these allowances, an IBPS PO also enjoys other benefits like Learning Allowance, Travelling Allowance, Newspaper Reimbursement, Medical Aid, and benefits under the New Pension Scheme. When we add all these together, the total IBPS PO Salary 2024 may amount to around Rs. 52,000 or more.
Participating Bank For IBPS PO 2024
The banks that will be taking part in the IBPS PO 2024 are listed below. The list for Participating Banks will be updated whenever the notification is received.
| Participating Bank For IBPS PO 2024 | |
| S. No. | Bank Name |
| 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 |
The benefits of the IBPS PO RRB Officer Scale-I (PO) post are abundant. Stress and work pressure are comparatively less in comparison to commercial banks. Employees have a good work-life balance. The cost of living is also reduced as the employees get posted in rural areas. Employees are eligible for 100% D.A. Employees can be deputed to other departments in Govt. sector under exchange programs.
We hope that you found the content provided in this blog “IBPS RRB PO Salary 2024″ useful. Keep visiting this blog for further updates.
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FAQ’s
Q1. What is the basic salary for an IBPS PO?
Ans. The basic salary for an IBPS PO is Rs. 36,000. Moreover, check out the above article for detailed information on IBPS PO Salary 2024.
Q2. Has the Dearness Allowance been revised under the 11th Bipartite Agreement?
Ans. Yes, the Dearness Allowance has been revised, and it is now reduced to 23.87%. Moreover, check out the above article for detailed information on IBPS PO Salary 2024.
Q3. How much House Rent Allowance does an IBPS PO receive?
Ans. The House Rent Allowance for an IBPS PO can range from 7% to 9% of the basic salary, depending on where they are posted. Moreover, check out the above article for detailed information on IBPS PO Salary 2024.
