IBPS Clerk : Salary, Allowances and Promotions
IBPS has started the recruitment drive for the post of IBPS Clerk 2017. This year, there are a total of 7,883 vacancies across 19 participating banks. The Clerk post is an important part of any bank and therefore, this is an opportunity for anyone who dreams of a career in the banking sector. The last date to apply for IBPS Clerk 2017 is 3rd October. But, before applying, it is important to be familiar with the salary, allowances and promotion path for an IBPS Clerk.
Salary and Allowances
A bank clerk receives a dignified salary along with other allowances such as Dearness Allowance (DA), House Rent Allowance (HRA), Transport Allowance (TA) etc. Some aspects of the salary will vary based on factors like post location, bank etc.
This is the general salary structure for an IBPS Clerk:-
A few points to note:-
- The Basic Pay Scale of IBPS Clerk is Rs 11,765 – Rs 42,020. For a fresher, the basic pay is Rs. 11, 765.
- The Dearness Allowance (DA) is revised quarterly and is based on CPI as declared by the banks.
- The House Rent Allowance (HRA) varies according to Clerk’s place of posting. And it can be 8.50%, 7.50% and 6.50% for metros, big cities, and other locations respectively.
- Medical Allowance is paid annually. For a clerk, it is fixed at Rs. 2000.
- So, factoring in all the allowances, the in-hand salary of an IBPS Clerk will be Rs. 19589.
Duties of an IBPS Clerk
It is important to know the duties to be performed by an IBPS Clerk. Knowing this in advance will help you in visualising yourself at the job.
These are the duties expected to be done by an IBPS Clerk:-
- Handling deposits and cash withdrawals
- Taking charge of the receipt of cheques, drafts, dividend warrants and pay orders
- Ensuring payment clearances
- Maintaining a daily record of balance
- Maintaining ledger, balance tally, data entry, ESI stamps
- Typing necessary information about bank
- Issuing cheque books
- Marketing of financial products of the Bank such as loans, mutual funds, deposits, schemes, etc.
Banks under IBPS ensures the promotion of their employees from clerical cadre to officers within a year on the basis of their performance. Appearing for Exams like the JAIIB & CAIIB will also help you in climbing the promotion ladder!
This is the promotion path for an IBPS Clerk.
Officer/ Assistant Manager
Asst. General Manager
Deputy General Manager
In short, grabbing the IBPS Clerk post is a good way to start your banking career. And the best way to crack the exam is to prepare along with Bank Naukri. Let Bank Naukri’s vastly experienced team of experts help you achieve your dreams. Visit www.banknaukri.co for free study material and detailed courses.