IBPS Salary Structure 2016 - 17 PO Clerk Pay Scale & Facilities - Sarkari Naukri Career

Friday, 22 July 2016

IBPS Salary Structure 2016 - 17 PO Clerk Pay Scale & Facilities

IBPS Salary Structure 2016 – 17
Dear candidates are you willing to build you
career in banking sector and you are eager to know IBPS Salary Structure 2016 – 17 than you are warm welcome on this page, from here you can check complete details about PO Clerk Pay Scale & Facilities given to the employees who work under Institute of Banking Personnel Selection.

State Bank of India is India’s leading public sector bank and so getting job in the State Bank of India is like a dream come true for most candidates.  From the last year, SBI has begin to conduct online examination for the recruitment of Probationary Officer. This examination happens at three levels – Preliminary, Mains and Interview.

Every year, Institute of Banking Personnel Selection conducts its online(CWE) common written examination for recruitment of Probationary Officers into various public sector banks. Here, we are providing a competitive job comparison between SBI PO and IBPS PO based on salary, job description, career 
growth, perks and benefits and work environment.

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 SBI PO vs IBPS PO – Job Profile Comparison

·      Role of Probationary Officer (PO) in the State Bank of India and any public sector bank is almost same. Bank Probationary Officers hold many significant roles in their departments.

·    In the beginning, Probationary Officers are under probation period of at least 2 years. As Probationary Officers, the candidates undergo training and their actual designation maps to the post of the Assistant Manager.

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 Job Profile of Probationary Officer in Banks

·       Customers Services: Customer service is an important, but broad concept in the banking industry. Banking business depends on the customers only. Therefore, customer service is very important for an officer. In their branches, POs will be asked to look into the concerns of the customers coming for  loans, opening of new accounts, ATM services, deposits, cheque books, credit cards and  online banking etc.

·         Adding New Business: As POs are direct channels of dealing with customers, so as a direct representative of banks, they have the responsibility of promoting various banking products. These products include Recurring Deposits, Fixed Deposits, Insurance policies, Funds, Credit Cards, Loans, etc.  Initially, POs are not under any pressure of selling these products, but as they grow older in their jobs,  they get targets & deadlines for selling these products.    

·      Cash Handling: As a PO, you have to perform cash related activities like cash disbursal & cash collection from cashiers. In time of excessive work pressure, you may be required to perform the clerical duties as well. As an officer, you are also responsible for loading the cash in the ATM machines.

·       Payment Clearances:  As an officer, you need to authorize some payments by way of cheque, DD, NEFT/ RTGS beyond a certain amount.

·        Maintain Reports: To avoid any mismatch, you have to close all the work on a daily basis.  Officers would be assigned to generate reports that may include the deposits, withdrawals, ledger balances, etc.

·         Daily Work Communication: As POs need to interact with the customers, they have the key responsibility of maintaining a track of new developments to improve their product knowledge. As a PO, you will have to send official replies to other departments.

 SBI PO vs IBPS PO – Salary Comparison


37,360 -38,700 per month. (Including HRA)
45,000 per month (HRA depends on place of posting, so salary may vary).

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·         Revised /initial starting basic pay is Rs.23700/- (four additional increments will also apply) in the pay scale of 23700-980/7-30560-1145/2-32850-1310/7-42020 (revised as on 1st June 2015) applicable to Junior Management Grade Scale – I.

·         Basic Pay: Rs. 27620.00

·      Dearness Allowance (DA): Revised DA for the quarter 2015-2016 is 39.80% of the Basic Pay. In Banks, DA is revised quarterly and is based on the CPI data as revealed by Government of India.

·         CCA: This is paid @ 4%, 3% or 0% depending on the place of posting.

·         Special Allowance: For officers it is paid @ rate of  7.75%

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·         In most of the public sector banks, Salary of PO is almost same. Thus, CTC will vary from bank to bank and place of posting. Current, revised basic pay of PO:

·         23700 – (980 x 7) – 30560 – (1145 x 2) – 32850 – (1310 x 7) – 42020

·         Basic Pay: Rs. 23700

·         Annual Increment: Rs. 980 , it will be applicable for a period of 7 years.

·         Dearness Allowance (DA): Revised DA for the quarter 2015-2016 is 39.80% of the Basic Pay. In Banks, DA is revised quarterly and is based on the CPI data as revealed by Government of India.

·         Special Allowance: In the latest revision, a special allowance has been added to the salary structure of Bank PO. In addition, it is 7.75% of the Basic Pay.

·         House Rent Allowance: This varies according to Bank PO’s place of posting and can be 9.0% or 8.0%or 7.0% depending upon metros, big cities and other locations.

·         City Compensatory Allowance: This also depends on the place of posting and can be either 4% or 3 %or 0%.


Nationalized Banks

This facility is available to Bank PO in place of HRA. At some places, banks provide Official Bank Accommodation/Bank Quarter as leased accommodation. The lease amount vary from bank to bank and place of postings.
Leased accommodation range from Rs 8,000/-in ‘C’ category Centers to Rs29,500/- in Mumbai Centre.
Traveling Allowance
Few banks provide fixed Traveling Allowance whereas others allow reimbursement of petrol bills i.e. officer must own scooter / car at the place of posting.
Home Travel Concession/ Leave Fare Concession.
     Medical Aid
A fixed annual amount is paid by most of the banks (Revised amount is Rs 8000/- p.a.).
Medical Aid for self (100%) and for family (75%).

 SBI PO vs IBPS PO– Work Environment Comparison

Both are highly reputed jobs in India’s foremost banking industries. Let us talk about work environment:

SBI – Work Pressure & Environment

·         State bank is one of the largest and oldest administration bank of India. Its branches are accessible all over India and it has numerous ATM counters everywhere.

·         Therefore, it is obvious that the number of customers are higher in SBI than in any other nationalized bank.
·         This increases work pressure in the SBI branches.

·         As it is India’s oldest bank, SBI has customer loyalty and this again increases customer engagement in its departments.

 IBPS PO – Work Pressure & Environment

·         Some nationalized banks are not accessible in rural areas, even we can say, not all over India, and their ATM counters are not everywhere.

·         Therefore, it is obvious that the number of customers in nationalized banks are less than in SBI.

·         This reduces work pressure in their branches.

·         Finally, we can easily conclude that SBI branches have more work pressure than other nationalized banks.

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SBI PO vs IBPS PO– Career Growth and Promotion Comparison

Career Graph in both the banking industries are same that is as follows:

·         Junior Management Grade – Scale I: Officer

·         Middle Management Grade – Scale II: Manager

·         Middle Management Grade – Scale III: Senior Manager

·         Senior Management Grade – Scale IV: Chief Manager

·         Senior Management Grade Scale V: Assistant General Manager

·         Top Management Grade Scale VI: Deputy General Manager

·         Top Management Grade Scale VII: General Manager

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 SBI PO vs IBPS PO– Final Conclusion

We hope that information will surely  help you understand which career option is best for you in banking industries.

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