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What Is the Salary for IBPS Clerk 2022?

One of the main factors that encourage people to pursue a career in banking is the salary of IBPS Clerk 2022. India’s banking industry is expanding at a rapid pace. As a result, the IBPS clerk is a demanding position for the IBPS job aspirants.

The Institute of Banking Personnel Selection holds the IBPS Clerk Recruitment Exam to identify qualified people for clerk positions in various financial institutions. IBPS Clerk Exam Notification is to be released pretty soon.

This blog will be helpful for those who are interested in not only knowing the pay scale for IBPS clerks but also about the various roles and responsibilities. So, continue reading to know more about it.

Job Profile for IBPS Clerk:

Every day, IBPS Clerks are the bank’s face for the public. In addition to a respectable IBPS Clerk Salary, this position provides excellent training in the workings of a bank. A single-window operator, or IBPS Clerk, is a person who works at a single-window counter and handles clients. Basically, the clerks serve as the customer’s point of contact. Visit BYJU’S Exam Prep for more information.

IBPS Clerks work in a wide range of capacities across the bank’s numerous divisions, fulfilling various duties. For example, they serve as loan officers, account managers, data-entry clerks, and office clerks.

IBPS Clerks play a variety of tasks and responsibilities, as outlined below.

IBPS Clerk Roles and Responsibilities:

  • Verification of various customer documentation and proofs
  • Updating account holders’ passbooks
  • The Clerk is in charge of keeping track of the bank’s cash, essential documents, and keys.
  • Issue demand drafts (DDs), cash receipts, bank accounts, etc.
  • Authorising consumer withdrawals
  • Keep track of the bank’s numerous records, such as balance sheets, ledgers, etc.
  • Assisting customers with their problems
  • Disseminating information on the most recent government initiatives and programs
  • Assisting customers with their banking needs.
  • Taking care of treasury matters
  • Resolving consumer concerns and issues
  • Other Various activities

The BYJU’S Exam Prep is a great platform to start your preparation for IBPS Clerk in 2022. Besides, here, you will get to know all the details about filing your application form.

The PayScale for IBPS Clerk in 2022:

Additional benefits such as HRA and TA are also included in the IBPS Clerk Salary Structure. Employees’ pay is affected by the city in which they are employed.

Check out below to learn more about the IBPS Clerk salary structure and breakdown.

  • 11,765/- is the Basic Pay
  • 5,311/- is the DA or Dearness Allowance
  • 425/- is the Travel Allowance
  • 911/- is the Special Allowance
  • 1176/- is the HRA or House Rent Allowance

How are the allowances for IBPS Clerks determined?

All IBPS Clerks receive additional benefits computed based on their location and other considerations. Therefore, the overall IBPS Clerk Salary can be calculated by adding all the allowances mentioned above and components to the Basic Pay.

Here is a brief idea regarding the computation for different allowances:

Special Allowance It is 7.5% of the Basic Salary initially. However, there is an increment of Rs. 400-500 after the completing 1 year of service
Dearness Allowance (DA) It is 4% of Basic Pay for IBPS Clerk. It depends on CPI revised after every 3 months
House Rent Allowance (HRA) This allowance will depend on where you’re posted. It will be 8.5%of the Basic salary if your posting is in the metro cities, 7.5% for cities where the population is over five lakhs, and 6.5% for any other cities (all calculated on Basic Pay).
Travel Allowance All expenses for official travels and tours will be reimbursed by the bank.
Medical Allowance This amount is Rs 2000/- (fixed). It is paid once a year.

The IBPS clerk is a prestigious exam and comes with different attractive perks.  With the help of BYJU’S Exam Prep, you can surely get the guidance to succeed here.

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