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IBPS PO 2018 NEWS

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IBPS PO 2018 Vacancies and Salary Packages

Last Updated - January 23, 2018

IBPS PO 2018 recruitment notification will be released for post of Probationary Officer (PO), by Institute of Banking Personnel selection. Nearly 20 Lac aspirants compete for jobs in different banks.

This year the preliminary exam will be conducted on 13th, 14th, 20th and 21st of October for 3562 vacancies in various participating banks. The IBPS PO Main Exam will be held on November 18, 2018.

  • This year Recruitment 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 recruitment status
  • This year, there is a change in IBPS PO Exam Pattern as notified by IBPS. Similar to SBI PO, IBPS has introduced a descriptive paper in the Mains examination for selection.

Check IBPS PO Mains Preparation Tips

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

IBPS PO 2018 Expected Prelims Cut offIBPS PO 2018 Expected Mains Cut offIBPS PO 2018 Expected Overall Cut off

IBPS PO Participating Banks

Various banks participate in IBPS PO Selection process. 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 differ after recruiting in various IBPS PO Participating banks according to the bank policy. Average total salary of IBPS PO is nearly 5 to 6 Lacs per annum.

Bank Wise Vacancy

There are total number of 3562 vacancies in different banks. The number of vacancies vary according to participating organisation and category of candidate. Out of the total number of vacancies available for recruitment, maximum are in Canara Bank (1350) followed by Andhra Bank (625) and UCO Bank (530).

NOTE Corporation Bank has no vacancies reserved for OBC category

Bank wise vacancies are mentioned in the following table:

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

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


IBPS PO Job Profile

IBPS PO Job has a vast profile, hence it is important for IBPS PO officer to be a multi-tasker. Probationary officers need to work in more than one department. Thus, they have to be skilled enough to cater to the needs of all departments efficiently.

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

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

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

  • Customer service –The Probationary officer is required to know how to deal with the customers/public in a polite and organized way. It can be related to any of banking service like account statement, required of any of another document such as forms and issuing cheque books. The officer will be required to solve the queries and doubts of customers in best of the possibilities.
  • Account Related – They can be asked to  handle account related job like Account Opening, Closure of dead accounts, print account statement when needed, issuing Cheque books to the client, arrange depositing slips, bank passbook entry and many of others account related services. They are also supposed to impart knowledge about account features, benefits, etc.to new customers.
  • Cash handling – This job is basically meant for an IBPS Clerk, but there might be a possibility, due to 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.
  • Payment Clearance – This profile also falls under the responsibilities of a probationary officer in the bank. The profile includes managing all clearance system of payments for Inward clearing and outward clearing. Cheque clearing by fetching actual data of client is also done by PO as per requirement. One might also has to process 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 complete knowledge about the product.
  • Generate New Business – Bringing business to bank, it is another feature of IBPS Bank PO Job Profile. They will have to manage various activities like promoting banking products, New Account opening, selling Insurance, loans, etc.
  • 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 required.

Check IBPS PO Salary, Job Profile and Career Prospects


IBPS PO Salary Structure

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

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

A complete 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 Perks of IBPS PO 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.
  • 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
  • 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.
  • Conveyance allowance – It is pay for commuting between home and office.

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

  • 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 offer official bank accommodation/ bank quarters instead of leased housing.
  • Travelling Allowance – Most of the banks give a fixed Traveling Allowance and reimbursement of petrol bills.
  • Medical Aid – An amount also attached for your medical needs (Revised price is INR 8000/- p.a.)
  • Newspaper Reimbursement: A fixed monthly amount is pay towards the cost of one newspaper
  • Coverage under New Pension Scheme

Check IBPS PO Benefits, Exam Pattern and Preparation Tips


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