The Reserve Bank of India is the central bank for the country and conducts exams annually for the recruitment to various posts in RBI. The RBI Grade B exam is conducted by RBI for the recruitment of officers.RBI Grade B Officer exam is a very popular exam for those seeking a career in the finance sector, with the RBI Grade B Officer Recruitment notification being highly anticipated by most of the bank job aspirants in India. RBI is the National Bank of the country and the various advantages offered by RBI Grade B post other than the rumored occupation makes it the most looked for after employment among students in a massive number. RBI Grade B Official Notification will be published for a variety of posts including- Officers in Grade ‘B’ (DR) – (General), Officers in Grade ‘B’ (DR) – DEPR and Officers in Grade ‘B’ (DR) – DSIM
RBI Grade B Officers Work Profile
Being an Officer in the Reserve Bank of India is indeed a privilege. You will be working with intelligent minds and will be handling our country’s finances directly! Therefore, read below to know about the work profile of RBI Grade B Officer.
You should be well informed about the economic state of the country in terms of the inflation rate, deflation, GDP growth, GNP, etc.
Design Guidelines for various PSB’s (Public Sector Banks)
You will also be responsible to manage certain Government & Central Bank accounts.
Your job will be to make sure that the circulation of coins & currencies in the system works smoothly and properly.
RBI Grade B Officer Job Role & Responsibilities
Enlisted below are few of the major RBI Grade B Role & responsibilities.
Ensuring Nation’s Financial Stability – The RBI Grade B Officers need to work towards keeping the inflation under check and ensure that an adequate supply of liquidity of the productive sector is taken care off.
Currency Issue & Circulation – RBI Grade B Officers are responsible for the circulation of currency & coins to the various nationalized banks under the ambit of RBI. They are responsible for the smooth functioning of the currency to the subordinate units of RBI and take note of the same.
Management of Government Accounts – They are also entitled to manage the state and central government accounts by performing various merchant banking functions for them.
Candidates preparing for the RBI Grade B exam need to follow certain eligibility criteria in order to apply for the exam. The eligibility criteria have been briefly described below:
Nationality: Candidate must be a citizen of India, subject of Nepal or Bhutan or a Tibetan refugee permanently settled in India.
Age limits: Candidate must have attained a minimum age of 21 years and must not be more than 30 years in age. However, there are certain age relaxations for candidates belonging to certain categories.
Educational Qualification: The educational qualification differs for candidates applying for General, DERP and DSIM specialisations.
RBI Grade B Eligibility Criteria
RBI Grade B Officer (General)
A minimum of 60% marks in Bachelor’s degree as well as in 12th and 10th Standard examinations
RBI Grade B Officer (Department of Economic and Policy Research)
A Master’s Degree in Economics or Finance, with a minimum of 55% marks from a
recognised Indian or Foreign University
RBI Grade B (Department of Statistics and Information Management)
A Master’s Degree in Statistics or Mathematical Statistics/ Mathematical with a minimum of 55% marks
The number of attempts is restricted to six for candidates belonging to the General category. No such restrictions are there for candidates belonging to other categories.
RBI GRADE B – EXAM PATTERN
The first step of a fruitful prep for this exam is to become familiar with its pattern. The recruitment of RBI Grade B officers takes place in two stages, which are followed by the interview. Let’s have a look at the RBI Grade B officer exam pattern for the initial three stages: Phase I examination Phase II examinationInterviewRBI Grade B is one of the toughest exams in India, especially in the banking sector. Aspirants can also check details of IAS Exam, which has some overlap with the pattern and syllabus of RBI Grade B.
RBI Grade B Officer Exam Pattern for Phase – I
Name of Subject
No. of Questions
RBI Grade B Officer Exam Pattern for Phase – II
Economic and Social Issues
Descriptive (Answers need to be typed with a keyboard)
Finance and Management
RBI GRADE B – SELECTION PROCESS
RBI GRADE B – SALARY, PERKS, & EMOULMENTS
RBI Grade B Officer job is a standout amongst the most well-known job in the public sector of India. Consistently in excess of 1 lakh, people vie for around 150-200 posts in a three-organize process. RBI is exceptionally liberal in paying RBI Grade B Officer Salary, Perks and Emoluments for even the smallest of expenses. The total cost to company (CTC) pays package accounts to be around 13 lacs in metro cities like Mumbai, Delhi, etc. Now, let us know the RBI Grade B officer salary, perks, and allowances and understand how much salary you can draw as an RBI Grade B officer.
The salary of RBI Grade B Officer is Rs. 35,150/ – p.m. in the size of Rs. 35150-17 50(9)- 50900-EB-17 50(2)- 54400-2000(4)- 62400 (16 years) applicable to Officers in Grade B and they will likewise be qualified for Dearness Allowance, Local recompense, House Rent Allowance, Family Allowance, and Grade Allowance according to rules in drive every once in a while.
At present, the initial RBI Grade B Salary and perks are approximately Rs. 77,208/- (Gross monthly)
Including a few advantages like fuel recompense (150 Litre), housekeeper remuneration of 3000 every month, telephone stipend have additionally been given.
Moreover, in RBI Grade B Officer, Highly qualified people can likewise apply for advance increments in the interview bio-data form. Likewise one can get two extra additions for clearing JAIIB and CAIIB exam, one for each.
Dearness allowances (DA):
DA of 113% of the normal salary of each employee. DA is revised to 125% after the 7 central pay commissions.
House Rent Allowances (HRA):
HRA is given to the officers who are living in different towns or urban areas and not in the place where they grew up. A Grade B Officer most likely large gets 2/3 BHK level contingent upon the accessibility in the city. In some cases, if someone has been not allocated a flat, RBI gives approx. Rs. 70000 for that in Mumbai and likewise in different urban areas.
Conveyance allowance (CA):
Conveyance allowance is paid on the basis of the declaration by you. At the Mumbai center, the amount is an additional 14000 in hand. Note:- 30 liters of extra petrol for all those living in Mumbai, Delhi, Chennai or Bangalore.
Medical allowances (MA):
Hospital expenses if proclaimed can be repaid. This stipend is legal for the trustable and true of the employee too. The Annual repayments of Medical approx-Rs 4000. and additionally free dispensary office other than repayment of medicinal costs for OPD treatment/hospitalization according to qualification.
Not all, but selected officers will receive education allowances for their family. The Annual reimbursements of education allowances are up to Rs. 4000/per month.
Leave Fare Concession Travel (LFC):
One of the best perks of RBI is the LFC Travel allowance. Once in two years for self, spouse and eligible dependents. Bank provides around Rs 107000 per person for this.
Bank Loan Facility:
According to an ongoing 7th central pay commission revision, RBI has announced arrangements for advances in a united way. Officers can get credits and advances at a substantially less expensive rate for Housing, Vehicle, and Computers and so on and according to the bank’s policies.
BA is drawn by Grade A and B level officers. The Annual reimbursement of Briefcase is approx Rs- 7000/-. They can reimburse the price of the briefcase in every three years.
2250 for Grade B officer starts after confirmation (end of probation).
2500 for Grade B officer starts after confirmation (end of probation). RBI also provides Food/Grocery Sodexo Coupons to its employees ~ Rs. 2000/-
Pension is a very common thing that every government employee draws after retirement.
RBI also provides employees with Sodexo meal
Apart from the given perks, there is an Interest-free festival advance, Newspaper, telephone charges, book grant, Furnishing of Residence Allowance, Life Insurance Coverage, Medical Insurance, and Educational Leaves, etc. as per eligibility.