IPPB Salary 2023: The pay of the IPPB is stated in the announcement. Salary varies depending on the position. Applicants are eligible for a dearness allowance, a city compensating allowance, and other benefits in addition to the basic pay. Applicants are also eligible for payment based on their performance.
The India Post Payments Bank, headquartered in Delhi, was founded in 2017. The government owns the entire India Post Payments Bank. The India Post Payments Bank was established with the goal of increasing financial inclusion in India. The bank is geared for small business owners who want to expand their operations.
It supplies them with services that ensure a lower transaction cost. The bank is looking for Assistant Managers, Clerks, IPPB POs, and a variety of other positions.
Table of Contents
IPPB Salary for IV, V & VI in Corporate Office
| Scale | Pay Scale | Approximately Monthly CTC |
|---|---|---|
| TEGS-VI | Rs 68,680 – Rs 76,520 | Rs 2,18,294 |
| SMGS – V | Rs 59,170 – Rs 66,070 | Rs 1,76,664 |
| SMGS – IV | Rs 50,030 – Rs 59,170 | Rs 1,44,250 |
IPPB Salary for Scale IV & V (Circle Positions)
| Scale | Pay Scale | Approximately Monthly CTC |
|---|---|---|
| SMGS – V | Rs 59,170 – Rs 66,070 | Rs 1,76,664 |
| SMGS – IV | Rs 50,030 – Rs 59,170 | Rs 1,44,250 |
IPPB Salary for Scale II, III, IV & V
| Scale | Pay Scale | Approximately Monthly CTC |
|---|---|---|
| TEGS-VI | Rs 68,680 – Rs 76,520 | Rs 2,18,294 |
| SMGS – V | Rs 59,170 – Rs 66,070 | Rs 1,76,664 |
| SMGS – IV | Rs 50,030 – Rs 59,170 | Rs 1,44,250 |
| MMGS – III | Rs 42,020- Rs 51,490 | Rs 1,06,000.00 |
| MMGS – II | Rs 31,705-Rs 45,950 | Rs 83,000 |
Allowance and Benefits
- House rent allowance
| Classification of place | Rate |
|---|---|
| Major ‘A” category cities (population with more than 45 lacs) | 9% of pay |
| “A” category cities ( population over 12 lacs and below 45 lacs) | 8% of pay |
| All other places (population over 5 lacs and below 12 lacs) | 7% pay |
- Special Allowance- Scale I and II – 7.75% OF BASIC PAY +applicable Dearness Allowance
- Fixed Personal Pay- Scale I and II – 1,453
- Bouquet of Allowances
It includes half of the basic pay, which is deducted from the salary. Officers usually inform HR about the allowances they will choose in the coming year once a year, in the month of April. And the overall value of this package of benefits should not exceed 50% of the base salary. The allotted bouquet must include the following items.
- Furniture allowance
- Club membership
- Newspaper allowance
- Petrol (not applicable for scale VI and scale VII officers)
- House cleaning allowance
- Casual labor
- Leave travel concession
- Entertainment allowance
- Children education allowance
- Reimbursement of a mobile allowance
Other benefits include a halting allowance and reimbursement of travel expenses, which vary depending on the scale and location of the visit. The duty-specific allowance, which is given as – is another sort of payment.
- Project area compensatory allowance
- Special area allowance
- Hill and fuel allowance
- Mid academic year transfer allowance
- Split duty allowance
IPPB Probation Period
From the date of their hire, the selected individuals will be on probation for a year. Confirmation will take place in accordance with the IPPB (Officers) Service Rule.
IPPB Posting, Transfer and Job Rotation
From time to time, the qualified applicants will be assigned to various IPPB offices.
IPPB Salary 2023 FAQ’S
Probation is for a term of two years. The probationary officers receive extensive training during this time.
Yes, SC/ST applicants are given a 5-year age relaxation, OBC applicants are given a 3-year age relaxation, physically handicapped applicants are given a 10-year age relaxation, physically handicapped plus OBC applicants are given a 13-year age relaxation, and SC/ST applicants who are also physically handicapped are given 15-year age relaxation.
Salary tends to rise as a result of promotions or as the pay scale rises.
The India Post Payments Bank is entirely run by the government.
The age range is set between 20 and 40 years old as of September 1 of each year. For example, the applicant must be 20 years old by September 1 of the year in question.