IBPS RRB PO offers an appealing salary package along with benefits and allowances, making it a highly desirable position for those pursuing a career in rural banking. In this article we have discussed the salary structure, allowances, job profile, and career growth opportunities for an IBPS RRB PO.
IBPS RRB PO Salary 2024
A newly appointed IBPS RRB PO receives a basic salary, supplemented with various allowances, resulting in an attractive gross and net pay. The details are provided below:
|
Component |
Amount (in INR) |
|
Basic Salary |
48,480.00 |
|
Special Allowance |
5,904.00 |
|
Dearness Allowance (DA) (15.73%) |
7,625.90 |
|
House Rent Allowance (HRA) |
2,520.00 |
|
City Compensatory Allowance (CCA) |
– |
|
New Pension Scheme Employer Contribution (NPSE) |
5,346.00 |
|
Gross Pay |
69,875.90 |
|
Total Deductions |
10,692.00 |
|
Net Pay (In-Hand Salary) |
59,184.00 |
Here Special Allowance is an additional allowance specific to the banking sector, calculated at 7.75% of the basic pay. Dearness Allowance (DA) adjusted periodically, DA is 15.73% of the basic pay to cover inflation and cost-of-living adjustments. House Rent Allowance (HRA) varies by location. New Pension Scheme (NPS) Contribution deducted as a retirement fund component.
Deductions in IBPS RRB PO Salary
Deductions primarily include contributions to the National Pension Scheme and Provident Fund. The detailed deduction breakdown is as follows:
|
Deduction |
Amount (in INR) |
|
National Pension Scheme (NPS) |
5,346.00 |
|
NPS Employer Contribution (NPS EE) |
5,346.00 |
|
Provident Fund (PF) |
– |
|
Professional Tax (PT) |
– |
|
Total Deductions |
10,692 |
IBPS RRB PO Annual Package
The IBPS RRB PO annual salary package is competitive, estimated around INR 7.2 lakh, factoring in the base salary and additional allowances. The role also provides substantial growth and job security, making it an ideal choice for a career in the banking sector.
Perks and Benefits of IBPS RRB PO
In addition to the core salary, an IBPS RRB PO receives various perks and allowances, which enhance the job’s attractiveness.
|
Allowance/Perk |
Details |
|
Dearness Allowance |
15.73% of the basic pay |
|
House Rent Allowance |
5-10% of the basic pay based on location |
|
Special Allowance |
7.75% of the basic pay |
|
Travel Allowances |
Covers travel expenses for official work, including reimbursement for fuel expenses |
|
Leased Accommodation |
Bank provides either bank quarters or reimburses rent for a leased house |
|
Medical Reimbursement |
Covers medical expenses as per bank policies |
|
Newspaper Allowance |
Monthly reimbursement for newspapers |
|
Overtime Allowance |
Additional payment for extra work hours |
IBPS RRB PO Job Profile and Responsibilities
IBPS RRB PO is a versatile role that requires managing various aspects of rural banking. A candidate appointed as a PO in RRB undergoes a two-year probation period, where they receive training on essential banking operations.
- Daily Banking Operations: Managing daily bank transactions and customer interactions.
- Loan Processing: Handling loan disbursement, documentation, and credit portfolio rating.
- Teller Services: Managing single-window operations, including cash handling and account inquiries.
- Rural Development: Focusing on implementing agricultural and rural development schemes.
- Audit Reports and NPA Recovery: Preparing reports and working on non-performing assets (NPA) recovery.
- Staff Supervision: Overseeing clerical staff and other in-house employees.
Career Growth and Promotion Path for IBPS RRB PO
IBPS RRB PO role offers a structured career path, with promotional opportunities based on performance and experience.
|
Position |
Description |
|
Probationary Officer (PO) |
Entry-level position |
|
Assistant Manager |
After completion of probation |
|
Deputy Manager |
Subsequent promotion |
|
Branch Manager |
In charge of branch operations |
|
Senior Branch Manager |
Manages multiple branches |
|
Chief Manager |
Oversees larger regional branches |
|
Assistant General Manager (AGM) |
Senior management role |
|
Deputy General Manager (DGM) |
Higher executive level |
|
General Manager (GM) |
Top executive position in RRB |
|
Related Important Links |
IBPS RRB PO Salary 2024: FAQs
What is the salary of IBPS RRB PO in 2024?
The in-hand salary for an IBPS RRB PO in 2024 is approximately ₹59,184 per month.
What is the salary growth of RRB PO?
Salary growth includes annual increments, additional allowances, and promotions, potentially reaching up to ₹7.2 lakh per annum.
What is the next promotion for RRB PO?
After the probationary period, the next promotion for an RRB PO is typically to Assistant Manager.
What is the basic pay of IBPS RRB PO in 2024?
The basic pay for an IBPS RRB PO in 2024 is ₹48,480 per month.
Explore our Books: https://apnipathshala.com/product-category/books/
Explore Our test Series: https://tests.apnipathshala.com/
