RBI Grade B Job Profile and Salary

The Reserve Bank of India (RBI) is an apex body established in the year 1935. This body of financial operations is governed by the central government of India. The head office of Reserve of Bank of India is shifted to Mumbai from Kolkata in 1937. RBI serves various essential functions for this country from managing the commercial banks to helping the government of India deal with financial issues in the given fiscal year. Most of the banking policies for the general public and international affairs are guided or set up by the RBI. Thus, RBI plays a great and pivotal role in dealing with the maintenance of economic stability throughout the country. It releases a various number of vacancies every year to give pretty opportunities to the people to become its part. According to the notification released by RBI related to the Grade B examination 2021, it mentions recruiting 630 employees for Grade B post in India. The Grade B employees are recruited for the posts of DR, DSIM and DEPR in Common Seniority Group (CSG). Following are the details for the RBI Grade B examination.

• It is the national level competitive examination organized by RBI for various job profiles.
• This examination is held once a year.
• The application form for the RBI Grade B examination is available on the online mode.
• The examination is conducted in three stages to choose the best out of all the aspirants for Grade B prestigious job profiles.
• These three stages include Preliminary, Mains and the Interview also known as Phase – 1 and Phase – 2 of the examination.

Highlights of RBI Grade B

Grade B jobs produced by RBI are extremely respectable and honourable positions aspired and admired by many youths. Every year it opens up the opportunities for the people to work in the banking sector of the country and directly participate in the decision making and policy execution in the nation. The Grade B jobs of RBI provides great perks to the employees in terms of fame, grandeur, monetary benefits along with various allowances and pensions to be continued even after the retirement.

RBI Grade B Salary Scale

The basic salary for the RBI Grade B employees is around Rs. 67,933/- including all the allowances provided by the government of India. Although, after the reduction of the allowances, the cash in hand comes down to about Rs. 35,150/-. After the imposition of the certain pay scales by the government of India, the salary of these Grade B employees keeps on increasing.

Following are the types of allowances that are provided along with the salary by the Central Government of India to the Grade B employees of RBI.

• Medical Allowance: It is an allowance provided to the employee and his / her liabilities for up to Rs. 4000/-.
• Dearness Allowance: DA is provided to the employee which constitute 113 % of the specific salary.
• Mobile Allowance: An employee can claim up to Rs. 1500/- as a mobile allowance in any case.
• HRA Allowance: This is the house rent allowance which leads to the provision of 2BHK or 3BHK flat to the RBI Grade B employees. It also provides with the choice to the employees if he/she wants to claim the flat or Rs. 70,000/- as rent allowance of the house.
• Education Allowance: Rs. 4000/- is given to the RBI Grade B employees as the education allowance on the monthly basis.
• Fuel Allowance: It gives the benefit to avail 150 litres of fuel every month.
• Spectacles Allowance: Allowance of about Rs. 7000 /- can be claimed under this by the employee of the RBI Grade B or it could also be claimed for their spouse.
• Sodexo Coupon: This is a coupon for grocery shopping which have the value of Rs. 2000 /- provided by the RBI to its Grade B employees.
• Briefcase Allowance: It provides with the benefit of Rs. 7000 /- once in every three years.
• Leave Fare Concession Travel: It assures the monetary benefit of Rs. 10000 /- once in every two years by the Grade B employees of the RBI and their liabilities.

The RBI also provides for the increment in salary of the Grade B employees.

• RBI allows for the yearly increment in the salary of the Grade B employees by about Rs. 1750/- for up to the next nine years.
• In the executive band, the salary is Rs. 50900 /- with the yearly increment of Rs. 1750 /- for the next two years.
• Then the salary comes up to Rs. 54400 /- and yearly increment of Rs 2000 /-.

The maximum basic pay for the Grade B employees of the RBI is Rs. 62400/. Although, this could be changed as per the promotions given to the employees of the Grade B. RBI gives a lot of opportunities to the employees for the promotion and for rising their positions along with several other perks. Promotions are given to the Grade B employees to various new designations like the manager, assistant manager, general manager, deputy general manager, assistant general manager, principal chief general manager, executive director, deputy governor and governor of the RBI. Although, all these different designations have distinct eligibility and perks.

RBI Grade B Job Profile

Following are the job profiles for the Grade B officers.

• Issuing currency: All the notes and coins except Rs. 1 is issued by the RBI. Thus, the Grade B employees function in the circulation and smooth transaction of these currencies to and within the commercial banks registered under Reserve Bank of India.
• Financial stability: It is one of the great duties of the RBI Grade B officers to ensure financial stability in the market carefully looking through the factors leading to inflation and deflation.
• Awareness: These Grade B employees are responsible for making the general public of the country aware of all the new measures and technologies introduced by the RBI to benefit the fiscal transaction by the public.
• Government adviser: They tend to extend support to the government of India in case of any financial assistance. Government works on the financial advice provided by the officers of the RBI.

RBI Grade B jobs are one of the prestigious jobs available in the government sector of the country. It generally attracts the people towards it due to the high amount of fame and honour associated with it. Not only the values it provides but also the monetary pay scales are beneficial for the candidates once they qualify the examination and attain the position of the RBI Grade B employee.

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