IBPS RRB PO Salary 2024, Pay Scale, Salary Structure

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IBPS RRB PO Salary 2024

IBPS RRB PO Salary 2024: The IBPS RRB PO Salary 2024 will be clearly stated in the official Notification for the IBPS RRB PO Exam. The basic pay scale for IBPS RRB Office Assistants is Rs. 7200-19300. For new joiners, the in-hand salary range is typically Rs. 19,000 – Rs. 22,000 per month. In this article, we will provide comprehensive information regarding the salary structure for IBPS RRB PO 2024.

IBPS RRB PO Salary

The Institute of Banking Personnel Selection (IBPS) will release the official notification for IBPS RRB PO 2024 on its website ahead of the recruitment drive. It is important for candidates to understand the IBPS RRB PO Salary & Job Profile before applying for this post. With dedicated effort, candidates has a good chance of advancing in their careers and securing promotions.

IBPS RRB PO Salary 2024 – Salary Structure

The initial basic pay for a newly selected RRB PO in 2024 is Rs. 36,000. The table provided below outlines the basic pay along with the additional allowances that contribute to the IBPS RRB PO Salary 2024.

EarningsAmount
Basic SalaryRs. 36,000
SPL AllowanceRs. 5,904
DARs. 13,815.75
HRARs. 2,520
CCA
HFA/BFA
Total EarningsRs. 58,239.75

IBPS RRB PO Salary 2024 – IBPS RRB PO Job Profile

  1. Regulatory Oversight of Banking Activities – Responsible for managing and overseeing all functions of a commercial bank, ensuring that activities are conducted timely and according to plan.
  2. Facilitating Loans and Credit Facilities – Promoting loans and credit facilities provided by the Rural Bank to farmers for agricultural development, while transparently explaining the benefits of such credit options.
  3. Credit Assessment – Evaluating the creditworthiness of loan applicants and assessing their ability to repay loans to prevent them from becoming Non-Performing Assets (NPAs), which can negatively impact the economy.
  4. Loan Repayment Management – Maintaining accurate records of loans issued to various entities, reminding borrowers of their repayment obligations, and taking necessary actions, such as property mortgaging, to recover outstanding loans if required.
  5. Public Communication – Engaging with the public and disseminating information about different policies and schemes introduced by the bank to benefit local communities.
  6. Audit and Financial Reporting – Maintaining the bank’s annual balance sheet, reviewing financial reports, and preparing audit reports for the fiscal year, ensuring accurate comparison with previous year’s data to assess profitability.
  7. Scheme Implementation – Effectively implementing government schemes aimed at rural area development and managing the allocation of funds provided by the central government to beneficiaries.

IBPS RRB PO Salary 2024 – IBPS RRB PO Salary After 5, 10 Years

The salary of an IBPS RRB PO increases gradually over the years as they gain experience and move up the career ladder. Here is an overview of the expected IBPS RRB PO salary after 5 and 10 years:

IBPS RRB PO Salary After 5 Years

After 5 years of service, an IBPS RRB PO can expect a substantial increase in their salary. The salary structure may vary based on several factors, including the bank’s policies and the employee’s performance. However, on average, the approximate salary of an IBPS RRB PO after 5 years could range from:

  • Rs. 50,000 to Rs. 60,000 per month, including various allowances and benefits.

IBPS RRB PO Salary After 10 Years

After completing 10 years of service as an IBPS RRB PO, the salary further increases, reflecting the employee’s experience and expertise. The exact salary will depend on individual performance and promotions received. On average, the IBPS RRB PO salary after 10 years may range from:

  • Rs. 70,000 to Rs. 80,000 per month, including allowances and other benefits.

It’s important to note that these figures are approximate and can vary based on various factors, including:

  • Promotions received
  • Individual performance
  • Bank policies
  • Periodic revisions in salary increments and allowances as per industry standards and government regulations.

IBPS RRB PO Salary 2024 – In-Hand Salary

The in-hand salary of an IBPS RRB PO in 2024 includes various components such as the basic pay, allowances, and deductions. Here is an approximate breakdown of the IBPS RRB PO in-hand salary for 2024:

IBPS RRB PostsIn-hand Salary
Officer Scale 1 (Probationary Officer or PO)Rs. 51,000/- to 58,000/-
Officer Scale 2 (Generalist & Specialist)Rs. 33,000/- to 39,000/-
Officer Scale 3Rs. 38000/- to 44,000/-
Office Assistant or Clerk (Multipurpose)Rs.15,000/- to 19,000/-

IBPS RRB PO Salary 2024 – Other Allowances

In addition to the basic pay, Dearness Allowance (DA), and House Rent Allowance (HRA), IBPS RRB POs are eligible for various other allowances as part of their salary package in 2024. These allowances may vary depending on the bank’s policies and can include:

Allowances2023
Dearness Allowance46.5% of basic pay.
House Rent AllowanceRural Areas: 5% of basic pay
Semi-urban Areas: 7.5% of basic pay
Urban Areas: 10% of basic pay
Special Allowances7.75% of basic pay.

Apart from the allowances given above, the following perks listed below are also given to IBPS RRB PO:

  • Household Cleaning Expenses
  • Medical Reimbursement
  • National Pension Scheme: All IBPS RRB Probationary Officers have a secure post-retirement through the National Pension Scheme.
  • House Rent Allowance / Leased Accommodation: RRBs provide accommodation or official residence to stay in, in case the banks cannot provide accommodation there’s an option to lease a house for which the Bank will reimburse the rent.
  • Newspaper allowance
  • Traveling Allowance
  • Overtime Allowance
  • Furniture Allowance
  • Leave Travel Concession
  • Leave Encashment
  • Conveyance allowance
  • Hill Station Allowance
  • Dearness Allowance
  • Special Allowance

Also Check, IBPS RRB PO NotificationIBPS RRB PO Syllabus and IBPS RRB PO Eligibility Criteria

IBPS RRB PO Career Progression

The probation period is two years, and after successful completion, the bank promotes the Manager Trainee to Assistant Manager. The career growth path for an IBPS RRB Officer Scale I is as follows:

  • IBPS RRB Officer Scale I (Probationary Officer)
  • Assistant Manager
  • Deputy Manager
  • Branch Manager
  • Senior Branch Manager
  • Chief Manager
  • Assistant General Manager
  • Deputy General Manager
  • General Manager
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So, an IBPS RRB Officer Scale I starts as a Manager Trainee and can progress up to the level of General Manager based on performance and experience.

IBPS RRB PO Salary – FAQs

Q1. What is the annual salary of IBPS RRB PO?

Ans. The annual salary of IBPS RRB PO is approximately Rs. 3,48,000 – 3,96,000/-.

Q2. What is the In-hand salary of IBPS RRB PO?

Ans. The In-hand salary of IBPS RRB PO is between 29,000 – 33,000.

Q3. What components are included in the salary structure of an IBPS RRB PO?

Ans. The salary structure of an IBPS RRB PO includes basic pay, allowances, and benefits, making the overall compensation more attractive.

Q4. Does IBPS offer lucrative salaries to applicants for different jobs?

Ans. Yes, the IBPS Banking authority pays highly lucrative salaries to applicants for different jobs, including Probationary Officers.




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