IBPS will be announcing CRP Clerk recruitment in several banks. Unfortunately, there is a lot of misconception about the IBPS Clerk Salary. Therefore, we have broken it down for you, including the salary in hand, pay scale, allowances, job profile, and promotions.
IBPS Clerks are recruited through the Institute of Banking Personnel Selection (IBPS). Therefore, candidates are always curious about the salary, perks, and allowances when the IBPS Clerk Notification is released.
IBPS has been offering high wages to Clerical Cadre postings and various perks, incentives, and advantages, so lakhs of applicants apply for IBPS Clerk Recruitment every year.
Those who aspire to work in a bank must know all about the IBPS Clerk’s salaries and benefits. Basic compensation, in-hand remuneration, job profile, clerk responsibilities, and IBPS Clerk career advancement have all been discussed in this article.
IBPS Salary Clerk Allowances
Other than the base pay, the allowances are as follows. You can get more information on BYJU’S Exam Prep that provides you the detailed job profile, career growth and promotion, etc.
- The Dearness Allowance is a 4% component of the Basic Pay. The DA is based on the CPI and is updated every three months.
- HRA: The HRA is determined by the posting place. It is 8.5% of basic pay for metro cities, 7.5% of basic pay for cities with populations exceeding 5 lakhs, and 6.5 per cent of basic pay for all other cities.
- The bank will reimburse you for your official tours and travels.
- IBPS Clerks are entitled to a medical allowance of INR 2000. Once a year, you will receive a medical allowance.
- This amount is fixed at INR 4118/- for IBPS Clerk candidates.
IBPS Clerk Job Description
IBPS Clerk is an entry-level position that provides many learning opportunities and challenges. The more you study, the more opportunities present, leading to early development.
The following are the functions and responsibilities of an IBPS Clerk:
● Verification of customer-provided papers and proofs
● In charge of bank funds, essential paperwork, and keys, among other things.
● Customers’ permission to make withdrawals
● Keeping track of the bank’s numerous records, such as balance sheets, ledgers, and other financial information.
● Taking care of the consumers’ varied difficulties
● Customer bank accounts, Demand Drafts (DDs), and cash receipts, among other things
● Providing the most up-to-date information on government programs and policies.
● Giving customers advice on a variety of banking issues
● Taking care of the treasury
● Account holders’ passbooks must be updated
● Customers’ questions and concerns are being addressed.
● Various assignments
Promotions in IBPS Clerk
The path of promotions is as follows:
- Officer/Assistant Manager
- Senior Manager
- Chief Manager Asst.
- General Manager
- Deputy General Manager
- General Manager
To be eligible for a promotion, you must have at least two years of service. You can get all the information regarding the IBPS Clerk and salary packages on the BYJU’S Exam Prep. IBPS Clerks are promoted once every two years after working on a specific job role for two years. The following two procedures are used for promotions:
- JAIIB and CAIIB diplomas are not required for candidates promoted through the normal method. Clerks at the IBPS are promoted based on their seniority and working experience, and an internal exam is also held. IBPS Clerks progress to the position of Trainee Officers and eventually Bank Probationary Officers after passing the written exam.
- JAIIB and CAIIB credentials from the Indian Institute of Banking and Finance are required for the Merit-Based Process.
The clerk position is the entry-level position in any bank. As candidates get experience working or their daily routines, they will have numerous opportunities to demonstrate work characteristics that can lead to a promotion and help them advance to a senior position.
Those who enrol through the PO Program will be assigned to the Assistant Manager cadre as soon as they are confirmed as Management Trainees. IBPS Clerk is the most sought-after job for candidates interested in pursuing a career in the banking business, owing to its appealing perks, benefits, and allowances.
BYJU’S Exam Prep will be your partner in preparation for the competitive exams. With BYJU’S Exam Prep, you will be able to take advantage of several sample exams and assignments.