Bank PO gets promotion opportunity faster than any other government job. On an average, every 3 to 4 years a bank PO becomes eligible for promotion.
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IBPS PO Salary: It is necessary for the youth who are thinking of making a career in the banking sector, to have complete information about the job of the bank. Every year lakhs of students prepare for bank exams. The main reason for this is that a bank job is said to be the most comfortable job. Bank PO job is a great option in this.
The job of Bank PO or Probationary Officer is very secure as well as the opportunity for promotion or promotion to Bank PO gets faster than any other government job. On an average, every 3 to 4 years a bank PO becomes eligible for promotion. Here we will give complete information about how to get a job on the post of Bank PO, and how much is the salary for this post.
Functions of Bank PO
It is most important to know what work has to be done in the post of PO in the bank. PO or Probationary Officer is basically an Assistant Manager of Scale-I in a bank. He is a Junior Manager of Grade I Scale and hence called as Scale I Officer. After the selection criteria are met, a Probationary Officer has to undergo intensive training at the Institute of Banking Management, where they get trained.
Selection Process for PO
To become a Bank PO, one has to pass three rounds of examination. Firstly the prelims exam is conducted in bilingual i.e. Hindi and English. After clearing it, candidates get an opportunity to appear in the Mains exam. In this, questions from General Knowledge, Hindi and English and Mathematics are asked. The candidates who qualify it are called for the interview round. After clearing all the three rounds, the final selection is done after document verification and medical test.
Candidates applying for Bank PO should have a degree up to graduation in any stream from any recognized university. For the post of PO in public sector banks, only graduation degree matters, there is no demand for percentage. On the other hand, if we talk about private banks, then there should be at least 55% marks in graduation.
The basic salary of a Bank PO is Rs 23,700 per month. Along with this, apart from dearness allowance, HRA, CCA and special allowance, medical information is also available. In this way, the total salary of 1 month becomes around Rs 38,700 to Rs 42,000. On the other hand, if we talk about SBI Bank PO, then the basic salary of SBI PO is Rs 27620. Gets a basic salary of Rs 30,560 with annual increments of Rs 1,145 for two years. The maximum basic salary is Rs 42,020.
IBPS PO House Rent Allowance (HRA): The house rent allowance varies with the place of posting and is usually 9.0% or 8.0% or 7.0% of the basic pay depending on the type of cities (ie, metros, big cities or other locations).
IBPS PO DA: IBPS PO provides Dearness Allowance (DA) to its officers and it is given as a percentage of the basic pay of the employees (in January 2016, it was around 39.8% of the basic pay). This dearness allowance 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.
IBPS PO Special Allowance (SA): This allowance has recently been added to the salary and it is approximately 7.75% of the basic pay.
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