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IBPS has relesed an official notification for the post of PO 2020 on its official website @ ibps.in. The candidates can check the exam dates, eligibility criteria, age limit, and more from the IBPS PO 2020 Notification provided below. IBPS PO 2020 Notification released in the 04-August-2020 with 1167 Vacancies. The online application form will be available from 5-08-2020 to 26 -08-2020.
Salary of IBPS PO
In the majority of the public sector banks, the Salary of the PO is more or less the same. The latest revision of Bank PO’s salary as per the 10th Bipartite settlement took place on Nov 2012; nonetheless, the final agreement was signed in May 2015. According to which the revised salary of Bank PO will come into effect from 1st January 2016.
The revised basic pay of PO thus becomes –
23700 – (980 x 7) – 30560 – (1145 x 2) – 32850 – (1310 x 7) – 42020
Here Rs. 23700 is the revised basic pay of Bank PO as applicable on 1st January 2016. Thus the new entrant in a Bank as PO is liable to get Rs. 23,700 as basic pay.
Rs. 980 is the annual increment that a Bank PO will get and it will be applicable for a period of 7 years.
Allowances
Besides the basic pay, candidates are also entitled to House Rent Allowance (HRA), Dearness Allowance (DA), Special Allowance (SA) and Compensatory Allowance. For details, candidates can check below:
| Components | Details |
|---|---|
| HRA | This varies according to place of posting. It can be 9.0% or 8.0% or 7.0% of the basic salary. |
| Dearness Allowance (DA) | DA is given to the employees as a percentage of their basic salary. This is revised every three months based on the All India Consumer Price Index Data published by the Ministry of Statistics and Program Implementation, Government of India. |
| Special Allowance (SA) | It is about 7.75% of the basic pay. |
| Compensatory allowance | It might be 0%, 3% or 4% based on the type of scity. |
Perks
Candidates also get lease accommodation, travelling allowance, newspaper reimbursement, medical aid, benefits under New Pension Scheme.
