written by | July 28, 2022

IBPS RRB PO Salary, Allowances and Benefits in 2022

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IBPS RRB 2022 Exams are held each year by the Institute of Banking Personnel Selection (IBPS) for Indian Financial Institutions. The major reason that individuals apply each year for Officers Grades and Associate postings is the lucrative income that RRB gives to its employees, with various benefits and incentives.  Financial Service applicants who are interested in pursuing a profession in local banks could get all the relevant data about payscale, reimbursements, job profiles, and promotional offers from the article below.

Did you know? The starting pay for an IBPS RRB PO during training is between ₹10,000 and ₹15,000, and it may change after hiring, depending on bank policy. IBPS RRB positions offer a good remuneration structure, even though the pay varies by grade.

IBPS RRB PO Salary and Benefits

IBPS RRB PO gets lucrative benefits and perks for all the grades of clerks and officers. This plays a role in candidates being interested in applying for this role. Therefore, it is important that candidates know the details of salary and benefits. Here is a list of the IBPS RRB PO salary and benefits.

Dearness Allowance

46.5% of the basic pay.

House Rent Allowance

For Rural Areas: 5% of the basic pay

For Semi-urban Areas: 7.5% of the basic pay

For Urban Areas: 10% of the basic pay

Special Allowances

7.75% of the basic pay.

Along with these concessions, the bank offers the following benefits:

  • Offers leasing space. This is given as a “Bank Quarter” by the employer to the candidate.
  • Covers the candidate's lease and other housing-related costs.
  • The IBPS RRB PO salary offers significant benefits for travellers.
  • Handles any fees paid for gas, fuel, or transit to and from work.
  • Healthcare repayments cover any costs associated with medical crises or health public pensions that the employee has designated.
  • If necessary, overtime compensation
  • Newspaper stipends
  • Miscellaneous additional reimbursements.

Also read: What is Bank Manager Salary in India?

Salary by Post for IBPS RRB in 2022:

The table below describes the in-hand salaries for different Group A and B jobs under the IBPS RRB Exam.

IBPS RRB Posts

In-hand Salary

Officer Scale 1 (Probationary Officer or PO)

51,000/- to 58,000/- 

Officer Scale 2 (Generalist & Specialist)

33,000/- to 39,000/-

Officer Scale 3

38,000/- to 44,000/-

Office Assistant or Clerk (Multipurpose)

15,000/- to 19,000/-

The in-hand pay may differ depending on the location of the assignment and other factors. Additionally, under the National Pension Scheme, a contribution of 10% is made from Basic Income.

Salary for IBPS RRB PO (Officer Scale 1)

The pay range for the IBPS RRB Probation period officer (Scale 1) is from ₹51,000 to ₹58,000. The positions provide regular wage increases. The table below shows the IBPS RRB PO Salary's yearly increases.

Period of Service

Annual Increments

First 7 Years of Service

980/- 

Next 2 Years of Service

1,145/-

Next 7 Years of Service

1,310/-

The probationary officers further earn yearly raises by the most recent pay commission modifications. Additionally, the income is raised in cases of promotions or postings to higher-level cities.

Probationary Pay for IBPS RRB Clerk

The compensation for the six-month IBPS RRB clerk probationary term will be a set amount. Meanwhile, an IBPS RRB Clerk probationary period pay will be determined by the board and may differ from the standard IBPS RRB Clerical Wage 2022. The probation period is like a trial or training period where the performance and work ability is analysed. The salary set by the board is comparatively less than the actual pay during this period. In June 2022, IBPS RRB employee wages ranged from ₹20,000 to ₹25,000. The IBPS RRB clerk's probationary period salary only lasts for six months. Candidates will earn competitive compensation, extra allowances, and perks after obtaining the IBPS RRB clerk probationary term wage.

IBPS RRB Clerk Salary (Office Assistant)

IBPS Officer Assistant or Clerk salaries range from ₹21,000 to ₹23,000. IBPS RRB employee (Office Assistant)  annual increments are as given below.

Period of Service

Annual Increments

First 3 Years of Service

400/-

Next 3 Years of Service

500/-

Next 4 Years of Service

600/-

Next 7 Years of Service

700/-

Next Year

1,300/-

Next Year

800/-

Also read: Salary of an IAS Officer - Learn About Facilities & Perks of an IAS Officer

Allowances & Benefits for IBPS RRB 2022

The officers chosen in the IBPS RRB exams get various bonuses. After such reductions, the total of all the IBPS RRB Officers' basic pay and benefits makes up their ultimate in-hand compensation.

As per their base pay, RRB officers get cost-of-living reimbursements, Housing Rent Allowance, and Special Reimbursements. In addition, certain allowances are discretionary rather than set.  The specifics of these allowances are listed below.

  • Travel Allowances

The bank offers its employees full travel entitlements or repayment for any fuel expenses.

  • Leased Housing

This is also called Housing Rent Allowance (HRA). Here the banks either give the employees a home to reside in, or permit them to rent a home that is paid for.

  • Medical Allowance

The bank provides a certain sum to cover the employees' and their families' medical costs. The image below shows the total salary structure. 

A sample salary slip of a probationary officer selected by the PNB from the IBPS RRB PO recruitment.

Details of Allowances for an IBPS RRB PO

The table below contains further details about the IBPS RRB reimbursements and benefits.

IBPS RRB Allowances

Value of the Allowances

Dearness Allowance (DA)

75.9% of the Base Salary

House Rental Allowance (HRA)

Rural Regions: 5% of the Basic Salary

a semi-urban setting 7.5% of Base Pay in Urban Areas 10% of the Basic Salary

Special Allowances

7.75% of Basic Salary

Travel Allowances (TA)

TA is paid to the employees during the move.

Medical Expenses

Additionally, the bank covers all medical costs for the employee and any members of their family.

Gratuity on Retirement

Employees gets fuel reimbursements based on how far they are from the workplace.

Petrol / Fuel Reimbursement

Employees are also reimbursed for fuel based on their distance from the workplace.

Miscellaneous

IBPS officers get other additional allowances and benefits. 

Duties for IBPS RRB PO Job Profile

RRB PO Job Description

The PO candidate must complete training or a two-year probationary period before being hired. During the training or probationary period the applicant earns a predetermined monthly amount which is often less than the actual salary. Once they complete the above-specified period successfully, they will receive the actual salary amount. 

The following describes the job description for the applicant chosen for the PO:

  • To oversee daily financial activities.
  • Credit portfolio education and loan distribution.
  • Becoming an accountant or doing single-window procedures.
  • Agriculture programs and policies with a focus on the rural market.

Also read: Know About the RBI Assistant Salary Structure and Job Profile

RRB Clerk Job Description

During the probationary period of 6 months as a Clerk, an employee gets familiar with the tasks they will be performing. The following information represents the job description for the clerical applicant:

  • An IBPS RRB Clerk receives and acknowledges cheques, money, drafts, pay cards, every month. 
  • Passing and disbursing cash in exchange for withdrawal forms, checks, etc.
  • Accepting incoming mail, organising outgoing mail, and overseeing cheque book delivery.

Career Growth for IBPS RRB PO

  1. There is a lot of room for professional advancement in the IBPS RRB Probation Officer role. The IBPS RRB PO salaries are between ₹29,000 and ₹33,000.

The IBPS RRB PO career progression is shown below.:

  1. Scale-I Officer (PO) 
  2. Assistant Manager
  3. Deputy Manager 
  4. Branch Manager 
  5. Senior Branch Manager 
  6. Chief Manager
  7. Assistant General Manager 
  8. Deputy General Manager
  9. General Manager

Career Development for IBPS RRB Clerk

There are various opportunities for advancement as a bank clerk, depending on efforts and commitment to the bank. Before seeking a promotion, the clerk must have served for at least two to three years in that role at any bank branch. There are two procedures to determine the promotion:

  • Seniority/Normal process.
  • Fast track/merit-based process.

Career Advancements at IBPS

  • In contrast to financial institutions, RRB offers job security, and with dedication and hard work, and the employee can swiftly move up to the director role.
  • Some applicants are given the wonderful opportunity to join exchanges, which enables people to work in other government agencies and use their skills.
  • RRBs interact with applicants from all backgrounds and help them with their finances.

Also read: SBI Clerk Salary: Pay Scale, Job Profile, & Perks in 2022

Conclusion

The Institute of Banking Personnel Selection (IBPS) is a self-governing organisation. It was created to develop and execute top-notch methods for evaluating candidates and making recruitment decisions. The IBPS serves state-owned enterprises and rural banks. By holding exams for various positions in various banks and preparing candidates by offering to coach, the IBPS offers a wonderful chance to aspirants in the financial sector.
Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting.

FAQs

Q: What would the 2022 net IBPS RRB PO salary be?

Ans:

The net IBPS RRB PO salary in 2022 may roughly vary between ₹ 29,000 to ₹ 33,000 per month after deductions.

Q: What does an IBPS RRB Manager Scale 1 position entail?

Ans:

The following is a list of some duties that IBPS RRB PO may have:

  • Either be a banker or in charge of the single-screen procedures.
  • Analyse agricultural programs and disseminate knowledge about them.
  • Regulations for the rural sector should be prioritised in addition to programs. 
  • Ensure the audit reports are prepared.

One of the selected applicant's main responsibilities for the IBPS RRB Manager Scale 1 worker is to prepare for the NPA recovery.

Q: What is Officer Scale 1's IBPS RRB PO salary for 2022?

Ans:

In addition to the benefits, an applicant hired as an IBPS RRB Operator Scale 1 would get an IBPS RRB PO salary ranging from ₹29,000 to ₹33,000.

Q: What is the IBPS RRB PO pay scale?

Ans:

IBPS RRB Officer Scale 1 pay scale details are as follows: 

23700 – 980/7 – 30560 – 1145/2 – 32850 – 1310/7 – 42021. The IBPS RRB PO pay would see a significant raise after five years with all the added benefits.

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Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.