IBPS PO 2018 No. of Posts and Salary Packages

Last Updated - February 27 2018

IBPS PO 2018 appointment notification will be announced for the post of Probationary Officer (PO), by Institute of Banking Personnel Selection. Almost 20 Lac candidates compete for jobs in various banks.

  • This year, there is a change in IBPS PO Exam Format as notified by IBPS. Similar to SBI PO, IBPS has introduced a descriptive paper in the Mains examination for selection.
  • The exam is organized into two tiers, prelims and mains
  • The exam will be organized on 7th, 8th, 14th and 15th of October for 3562 vacancies in different participating banks for post of probationary officer
  • This year Appointment for IBPS PO will be done by only 9 banks out of 20 participating colleges. These banks are Andhra Bank, Allahabad Bank, Bank of Maharashtra, Bank of India, Canara Bank, Central Bank of India, Corporation Bank, UCO Bank and Union Bank of India
  • Vacancy for PO or management trainees is expected to witness an increase as 4 banks have not yet reported their appointment status

IBPS PO is a national level competitive exam by IBPS (Institute of Banking Personnel Selection) for appointing Probationary Officers and Management Trainees in different public sector banks.

IBPS PO 2018 Participating Banks

Different banks participate in IBPS PO Selection procedure. Some of these banks are:

Andhra BankCanara Bank
Allahabad BankCentral Bank of India
Bank of BarodaCorporation Bank
Bank of IndiaDena Bank
Bank of MaharashtraIDBI Bank
Indian BankOriental Bank of Commerce
Indian Overseas BankPunjab National Bank
Punjab Sind BankUnion Bank of India

The salary of an IBPS PO differs after appointing in various IBPS PO Participating banks according to the bank policy. Average total salary of IBPS PO is almost 5 to 6 Lacs per annum.

Bank Wise Vacancy

There is total number of 3562 vacancies in various banks. The number of vacancies varies according to participating organization and category of the aspirant. Out of the total number of vacancies available for appointment, maximum is in Canara Bank (1350) followed by Andhra Bank (625) and UCO Bank (530).

NOTE Corporation Bank has no vacancies reserved for OBC category

Bank NameSCSTOBCGenTotalOut of Which PwD
      HIOCVIID
Allahabad Bank36196411623516232
Andhra Bank93461683186250898
Bank of India3015541012002222
Bank of Maharashtra15727511000310
Canara Bank203108364675135018181817
Central Bank of India15828491001111
Corporation Bank28220501001111
UCO Bank7526178251530406105
Union Bank of India8334781273221431311
Total5782859611738356292445846

Bank-wise vacancies are mentioned as follows:

NOTE Bank of Baroda, Dena Bank, IDBI Bank, Indian Overseas Bank, Vijaya Bank are among some banks that have yet not announced the number of vacancies. Meracollege will update the list as soon the notification for these banks will be announced.

IBPS PO 2018 Job Profile

IBPS PO Job has a vast profile, hence it is important for IBPS PO officer to be a multi-tasker. The probationary officer required to work in more than one department, thus have to be skilled enough to serve the required of all departments efficiently.

Some of the departments in which IBPS PO need to work are:

  • ATM and Internet Banking
  • Fixed Deposit
  • Loans & Advances
  • Payment and Cheque completeness
  • Pensions
  • Deposits
  • Clearing

There are different duties that IBPS PO have to perform. Some of these duties are:

  • Account Related – They can be asked to handle account concerned job like Account Opening, Closure of dead accounts, print account statement when required, issuing Cheque books to the client, arrange depositing slips, bank passbook entry and many of others account concerned services. They are also supposed to impart knowledge about account features, benefits, etc.to new customers.
  • Generate New Business – Bringing business to the bank, it is another feature of IBPS Bank PO Job Profile. They will have to manage different activities like promoting banking products, New Account opening, selling Insurance, loans, etc.
  • Payment Compliance – This profile also falls under the responsibilities of a probationary officer in the bank. The profile comprises managing all compliance system of payments for Inward completing and outward completing. Cheque completing by fetching actual data of client is also done by PO as per requirement. One might also have to procedure all types of transactions like Demand Draft (DD), Cheques, NEFT, RTGS and other payment methods.
  • Loan Processing – Probationary officers are assigned to work in loan and Insurance department of a bank at the start of their job. The department trains them for things like- how to sell and what to sell and how to convince customer and giving clear knowledge about the product.
  • Reporting and Verification – Other daily reporting works of transactions and accounts are also assigned to the bank PO. They have to manually verify each transaction and records of accounts on a daily basis if need.
  • Customer service –The Probationary officer needs to know how to deal with the customers/public in a polite and conducted way. It can be concerned with any of banking service like account statement, need of any of another document such as forms and issuing checkbooks. The officer will need to solve the queries and doubts of customers in best of the possibilities.
  • Cash handling – This job is basically meant for an IBPS Clerk, but there might be a possibility, due to the overburden of work a PO will have to handle it. This job involves handling of cash transactions, managing all types of deposition and withdrawal of cash etc. It is a temporary work in IBPS PO job profile.

IBPS PO 2018 Salary Structure

The salary of an IBPS PO differs after appointing in various IBPS PO Participating banks according to the bank policy. Average total salary of IBPS PO is almost 5 to 6 Lacs per annum.

Hike in the salary of an IBPS PO is the allowances provided to them other than the basic pay. The PO will be given medical allowances, canteen, newspaper, entertainment allowances and many more benefits.

A clear salary structure of a Probationary officer, in general, is mentioned below.

DescriptionSalary
Basic Pay23700.00
Other Allowances1836.75
DA10163.63
CCA870
Total amount without HRA36570.38
HRA2133.00
Total with HRA38703.38
Entertainment allowances500
Newspaper300
Medical allowances8000
Petrol3000
Telephone400
Canteen400
Pension contribution2500
Total Annual income5,57,640.52

IBPS PO – Location wise Salary

CriteriaMetro CitiesState CapitalDistrict Level and Rural
Basic Pay23700.0023700.0023700.00
Special Allowance1836.751836.751836.75
DA10163.6310163.6310163.63
CCA870 600– 
Total (without HRA)36570.3836300.3835700.38
HRA 2133.001896.001659.00
Gross with HRA38703.3838196.3837359.38

Benefits and Facilities of IBPS PO 2018 Job

The basic benefits and perks that a PO will receive on a monthly basis as part of the salary of IBPS PO are given below:

  • Dearness Allowance (DA) – It is a cost of living adjustment allowance paid to all government and public sector Probationary officers. It is revised on a quarterly basis and based on Consumer Price Index (CPI). Calculation of DA depends on inflation. DA can go up with higher inflation and also come down if the inflation rate is in negative.
  • Conveyance allowance – It is paid for commuting between home and office.
  • CCA – This also depends on the place of posting and can be either 4% (maximum INR 870) or 3% (Maximum INR 600/) or none at all.
  • HRA – This depends on the place of posting, and it can be either 9.0% or 8.0% or 7.0% depending on the place of posting.
  • Special Allowance – This will add in 10th BPS and for Scale,  7.75% on which DA is also payable

There are other benefits applied to IBPS PO officers. It may differ in every bank.

  • Coverage under New Pension Scheme
  • Newspaper Reimbursement: A fixed monthly amount is pay towards the cost of one newspaper
  • Travelling Allowance – Most of the banks give a fixed Traveling Allowance and reimbursement of petrol bills.
  • Leased Accommodation – This service is available to Bank officers instead of HRA. It also varies from bank to bank and depends on upon the place of posting. Some banks may provide official bank accommodation/ bank quarters instead of leased housing.
  • Medical Aid – An amount also attached to your medical required (Revised price is INR 8000/- p.a.)

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