What is the typical starting salary, basic pay, and key allowances for a Probationary Officer (PO) recruited through IBPS CRP-PO/MT?

The Probationary Officer (PO) is placed in the Junior Management Grade Scale-I (JMGS-I) in Public Sector Banks, with a revised basic pay as per the latest Bipartite Settlement.

• Pay Level: Junior Management Grade Scale-I (JMGS-I).
• Starting Basic Pay (Approximate): ₹48,480/- (as per the latest Bipartite Settlement, subject to official notification).
• Major Allowances (Variable):

Dearness Allowance (DA): Revised quarterly, based on the Consumer Price Index (CPI).
House Rent Allowance (HRA): Varies based on the place of posting (X, Y, or Z category cities), typically ranging from 7% to 9% of Basic Pay.
City Compensatory Allowance (CCA): Varies by city, granted in X and Y category cities.
Special Allowance (SA): A fixed percentage of the Basic Pay.
* Other Perks: Medical Aid, Newspaper Allowance, Travelling Allowance, and options for Leased Accommodation (depending on the bank).

• Clarification: The Gross Salary is significantly higher than the Basic Pay (approx. ₹74,000/- to ₹76,000/- per month), and the 'in-hand' salary is determined after mandatory deductions like NPS contributions.