IBPS RRB PO Salary 2024, Officer Scale 1 Salary Structure

IBPS RRB PO Salary: The Institute of Banking Personnel Selection (IBPS) has issued the notification for recruiting Probationary Officers (POs) in 11 participating banks. The examination process will consist of three phases i.e. prelims, mains, and interview. The candidates who will qualify for the prelims examination will be called for the mains examination. As per the reports, the salary of the candidates selected for PO posts will get in hand pay of Rs 52,000- Rs 59,000.

IBPS RRB PO Salary 2024

IBPS RRB PO Salary 2024: Candidates selected for the PO post will receive a salary ranging from Rs 52,000 to Rs 59,000, while those securing the SO post can expect a salary between Rs 36,000 to Rs 39,000. As you gain experience, your pay can grow from Rs. 36,000 to Rs. 42,020. But that’s not all, you also get extras like housing and travel allowances. These boost your total earnings nicely.

IBPS RRB PO Salary

The Institute of Banking Personnel Selection (IBPS) has announced the notification for hiring POs in 11 participating banks. The registration process will be open until 27th June 2024. Candidates who want to become a PO in these banks need to fill out the application form for the Common Recruitment Process of POS-XIII. With dedicated effort, candidates have a good chance of advancing in their careers and securing promotions.

IBPS RRB PO 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.

Type of Pay	Amount (in Rs.)
Basic Pay	36000
Special Allowances	5900
Dearness Allowances	8500
City Compensatory Allowances	1400
House Rent Allowance	3200
Learning Allowance	600
Other Allowances	1500
Gross with HRA	57100
Deduction	4500
Net Salary	52600

IBPS RRB PO Salary Slip 2024

The salary slip for an Assistant Manager in Branch Operations for April 2024 shows gross earnings of ₹66,342.69, which includes basic pay of ₹36,000, dearness allowance of ₹17,464, special allowance of ₹5,904, house rent allowance of ₹2,520, and other allowances totaling ₹4,455.09. Deductions amount to ₹8,312, covering professional tax (₹200), National Pension Scheme (₹5,346), income tax (₹2,566), and association fees (₹200). The net payable amount is ₹58,030.69.

IBPS RRB PO Job Profile

In addition to the IBPS RRB PO Salary 2024, we have also detailed the job profile for this role. Upon appointment, an IBPS RRB PO undergoes a 2-year probation period, during which they receive a fixed salary that is typically lower than the standard pay scale. The primary responsibilities of an RRB PO include:

Job Responsibility	Description
Managing daily banking operations	Overseeing routine banking tasks and services
Disbursing loans and rating credit portfolios	Managing loan distribution and assessing credit risk
Handling single window operations or serving as a teller	Assisting customers with transactions at a single counter
Focusing on agricultural schemes and rural market policies	Implementing and promoting agricultural policies in rural areas
Preparing audit reports and recovering NPAs	Creating audit documents and handling non-performing assets recovery

IBPS RRB PO Salary After 5, 10 Years

The IBPS RRB PO Salary 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

This table shows the increment and basic salary structure for SBI POs over the years, highlighting the potential for salary growth.

Time	Increment	Basic Salary
First 7 years	Rs. 1490	Rs. 36,000
Next 2 years	Rs. 1740	Rs. 46,430
Another 7 years	Rs. 1990	Rs. 63,840

IBPS RRB PO Salary After 10 Years

Here’s the table for the salary structure of an IBPS RRB PO after 10 years of service:

IBPS RRB PO Salary Structure (After 10 Years)

Salary Range (per month)

Rs. 72,000 to Rs. 80,000, including allowances and benefits

Factors Affecting Salary

– Promotions received

– Individual performance

– Bank policies

– Periodic revisions in salary increments and allowances as per industry standards and government regulations

After 10 years of service, an IBPS RRB PO can expect their salary to reflect their experience and expertise, with the exact amount depending on performance and promotions.

IBPS RRB PO In-Hand Salary

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

IBPS RRB Posts	In-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 3	Rs. 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:

Allowances	2024
Dearness Allowance	46.5% of basic pay.
House Rent Allowance	Rural Areas: 5% of basic pay Semi-urban Areas: 7.5% of basic pay Urban Areas: 10% of basic pay
Special Allowances	7.75% 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

IBPS RRB PO Bond Period

Public sector banks in India are opening new branches to expand their business and compete with private sector banks. To reduce employee turnover, these banks now require new employees to sign a service bond. This bond ensures that employees stay with the bank for a minimum of 2 or 3 years. If an employee decides to leave before this period, they must pay a predetermined amount, known as an indemnity bond. The format for these bonds will be provided by the respective bank at the time of joining. Below is the service bond information for various public sector banks:

Bank Name	Time Period	Bond Amount
Andhra Bank	3 yrs	Rs. 2,00,000
Allahabad Bank	3 yrs	Rs. 1,00,000
Bank of India	–	data not available
Bank of Baroda	–	No bond
Bank of Maharashtra	2 yrs	Rs. 1,00,000
Bharatiya Mahila Bank	–	data not available
Canara Bank	2 yrs	Rs. 25,000
Corporation Bank	2 yrs	Rs. 50,000
Central Bank of India	–	not available
Dena Bank	3 yrs	Rs. 1,50,000
Indian Bank	2 yrs	Rs. 1,00,000
IDBI Bank	–	data not available
Indian Overseas Bank	3 yrs	Rs. 1,00,000
Oriental Bank of Commerce	–	not available
Punjab & Sind Bank	3 yrs	Rs. 50,000
Punjab National Bank	3 yrs	Rs. 2,00,000
Syndicate Bank	2 yrs	Rs. 1,00,000
Union Bank of India	3 yrs	Rs. 2,00,000
UCO Bank	2 yrs	Rs. 2,00,000
United Bank of India	3 yrs	Rs. 1,00,000
Vijaya Bank	3 yrs	Rs. 2,00,000
EXIM Bank	–	data not available
ECGC	3 yrs	3 – 5 months salary

Also, IBPS RRB PO Notification, IBPS RRB PO Syllabus, and IBPS RRB PO Eligibility Criteria

IBPS RRB Admit Card 2024 Out	Click here to Check
IBPS RRB PO Prelims Admit Card 2024	Click here to Check
IBPS RRB Clerk Prelims Admit Card 2024	Click here to Check

IBPS RRB PO Career Progression

The career path for an IBPS RRB (Institute of Banking Personnel Selection – Regional Rural Banks) Probationary Officer (PO) offers clear steps for advancement. Here’s a progression:

• Probationary Officer (PO): You start as a PO and undergo a probation period, learning various banking tasks and responsibilities.
• Assistant Manager: After completing your probation successfully, you become an Assistant Manager.
• Branch Manager: With experience and a good track record, you can become a Branch Manager, managing branch operations, customer service, and business growth.
• Senior Manager: As a Senior Manager, you oversee multiple branches or departments within the bank.
• Chief Manager/Assistant General Manager: With good performance and experience, you can advance to Chief Manager or Assistant General Manager, handling strategic decisions and policy-making.
• Deputy General Manager: In this higher role, you manage larger areas of the bank’s operations or specialized functions.
• General Manager: As a General Manager, you take charge of specific departments or functions at a regional or corporate level, playing a key role in managing the bank.
• Executive Director: Some banks have the role of Executive Director, where you make top-level decisions and strategic plans.
• Managing Director/CEO: At the top, as Managing Director or Chief Executive Officer, you are responsible for the bank’s overall performance and direction.

IBPS PO 2024 – Participating Banks

Candidates who are selected for the IBPS PO 2024 will be placed in one of the following banks:

S. No.	Participating Banks
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

IBPS RRB PO Probation Period

Here is a concise table summarizing the probation period for candidates selected under IBPS RRB posts:

Posts	Probation Period
IBPS RRB Posts	2 years

Candidates selected for IBPS RRB posts will undergo a probation period of 2 years.

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