Being an Officer with the RBI or Reserve Bank of India is itself a privilege. You will be working with the country’s most intelligent minds and will be handling the country’s finances directly! Read below to know what work a RBI Grade B Officer does….!! In this article you will know in detail about the Job Profile, Pay Scale, Work Hours, Benefits, Exam pattern, Future Career Progression of RBI Grade B Officer.
- Currency Issue and Circulation: Being a part of RBI Grade B officer you will have to maintain the circulation of currency and coins issued by RBI is managed by this department in which you are working with a team of assistants and officers.
- Maintaining Financial Stability: In this department work is very interesting as you have to continuously check on the inflation and have to control the supply of liquidity in the market. You will be working with the energetic team where you will play an important role in decision making and managing liquidity in marked by various policies.
- Management of Government Accounts: As we all know RBI is bankers bank so same in this department your role going to be. You will have to manage various government and central bank accounts and need to perform all the banking functions of RBI. You will be going to manage various government sector’s bank account.
- The Pay Scale for RBI Grade B Officer has been recently revised and the revised Salary Structure is as 35150-17 50(9)-50900-EB-17 50(2) – 54400-2000(4)-62400 (16 years).
- Basic Pay – 35,150/- pm
- Initial monthly Gross emoluments are approx. Total – 67,933/- pm which includes Dearness Allowance, Local Allowance, House Rent Allowance, and Family Allowance as per rules in force from time to time.
Benefits & Perks:
- After being appointed as the RBI Grade B Officer, you can reside in RBI Residence. It is generally a 2BHK in the city you will be posted.
- You will also be given a Fuel Allowance – approx.150 litres. (If the car is in your name.)
- Your Annual Medical Allowance will be -> Rs. 4,500/- on declaration.
- Monthly Maid Allowance -> Rs. 3000/-
- RBI also provides Food/Grocery Sodexo Coupons to its employees -> Rs. 2000/-
- LTC/LFC Tour Allowance -> every 2 years along with dependent Family Members.
- Loans are cheaper for employees of the RBI. They provide lesser interest rates!
One can also take benefits of Telephone charges, Newspaper, book grant, Spectacles, Furnishing of Residence Allowance, Life Insurance Coverage, Sodexo meal, Medical Insurance, and Educational Leaves etc. as per eligibility.
- RBI officer works for 5 days a week.
- 9 to 5 typical general job.
- Before being appointed as Grade B officer, you will be joining as a Probation period for 2 years.
- As you have only 5 working days so you would have enough of time to do other works.
Preliminary Exam: Time duration is 2 hours.
No. Of Questions
Name of Test
Paper I – Economic and Social Issues
Paper II – English (Writing Skills)
Paper III – Finance and Management
Interview: Candidates will be shortlisted for the interview, based on aggregate marks obtained in Paper-I, Paper-II and Paper-III of Phase II exam. The interview will carry 50 marks.
- If you join young, you are most likely to reach to the position of Deputy Governor of the RBI until you retire!
- There are a lot of Departmental Exams within RBI for Officers to speed up their Promotions.
- With so much experience in the RBI, even if you do not continue with the RBI, lots of other banks will willingly invite you to fill their Executive positions & pay you hefty salaries!
Out of the 4 Deputy Governors, 2 are selected from within the RBI ranks and these are those who joined as Grade B Officer Level. Most of the Grade B direct recruite’s can reach to CGM (Chief General Manger) level before retirement. After CGM promotions avenues are limited to Executive Director and DG and that depends on age and other factors at that time. Also, there are examinations to get promotion and reach to next level.
For more information on RBI profile like RBI Assistant can visit Examin blogs…!!!