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RBI GRADE B Salary Structure, Pay Scale, Allowances & Benefits 2021

Updated On -

Mar 6, 2021

Reserve Bank of India offers job security, respect, and prestigious designation, which many wish to attain. RBI Grade B in-hand salary will lead the aspirants to keep themselves motivated so that they can secure a job under RBI. This year, RBI aims at filling 322 vacancies for RBI Grade B officers position. To get into the organization, the aspirants have to qualify for the RBI Grade B phase I, II, and interview rounds.

RBI Grade B officers are provided a lot of benefits like:

  1. A high-esteemed job profile
  2. A decent pay scale
  3. Other allowance and benefit from RBI

There are a total of three-phases for RBI Grade B examination which are:

  • Phase I
  • Phase II
  • Interview
Grade B Salary

RBI Grade B Salary Structure

  1. RBI Grade B Salary(Basic Pay) - Rs 35,150/- per month
  2. RBI Grade B Salary Scale - Rs. 35150-1750 (9)-50900-EB-1750 (2)-54400-2000 (4)-62400 (16 years)
  3. RBI Grade B Salary(Allowances Given) - i) Dearness Allowance,ii) Local allowance,iii) House Rent Allowance,iv) Family allowance and v) Grade Allowance
  4. RBI Grade B Salary (Gross Monthly Emoluments)- Rs ₹83254/- (Approx)

If the aspirants possess very high professional or academic qualifications or if they have higher professional experience, which is significant to the bank value, then they may be granted up to four advance increments.

Grade B Salary 2021

RBI Grade B Salary Increment (After 5 Years)

  1. Receive an increment of - Rs.1750 (up to 9 years )
  2. After 9 years is over, your basic pay is: Receive an increment of - Rs.50,900: Rs.1750 (for the next 2 years)
  3. Further increment of - Rs.2000 ( for the next 4 years) / then basic pay is = RS 54400
  4. After 16 years, the maximum basic pay will be Rs. 62400.

Given below are some quick reference links related to RBI Grade B preparation. For the detailed RBI Grade B Salary structure, please scroll down.

Salary Slip

RBI Grade B Salary Slip

Pay and Allowances RS. Deductions RS
Basic Pay 35150.00 EE NPS Contrib Amount 6509.00
Grade Allowance 6800.00 Prof Tax-split period 200.00
Dearness Allow. 23144.00 BF EE NPS Monthly Contrib 13018.00
House Allowance 5273.00 House Rent Recovery 620.00
COPS Incentive 2720.00 Meal Coupon Deduction 400.00
Spl Perquisite Allowance 1465.00 MAF 300.00
Spl Allow-Direct Recruit 1800.00 RBI Officers Association 40.00
Local Compensatory Allows 3664.00 Sports Club Membership 30.00
Meal allowance 160.00 Income Fax 5319.00
Gross Pay 80,176.00 Total Deductions 26,436.00
Grade B Allowances

RBI Grade B Salary and Perks, Benefits, Allowances Details

  1. Dearness Allowance(D.A) - 113% of the basic pay that previously accounted for D.A. has now been revised to 125%
  2. House Rent Allowance(H.R.A) - H.R.A. is provided to those employees who are posted out of their hometowns./Accommodation is also provided to RBI employees./Usually one gets a 2 BHK flat. for those employees who had not got any flat, RBI offers them an amount of 70,000 for settlement in metro cities like Mumbai.
  3. Conveyance Allowance(C.A) - Basically, it is paid on the basis of your declaration. ( in Mumbai CA is paid 14,000 in hand amount )
  4. Medical Allowance(M.A) - RBI employees get medical allowance worth Rs.4500 and other facilities too.
  5. Education Allowance - Get education allowance for their children/The annual reimbursement amount for approximately Rs 4000 per month
  6. Leave Fare Concession & Leave Travel Concession - LFC/LTC is offered to the employee and his/her family once every two years./RBI provides Rs.10,7000 (approx.) to each one.
  7. Loan Facility - RBI officers can avail loans at cheaper rates for a vehicle.housing,
  8. Fuel Allowance: If the RBI Grade B employees own a vehicle in their names, they can claim up to 150 liters of fuel every month.
  9. Maid allowance: The RBI Grade B employees can claim Rs. 3000 in each month for maid allowance.
  10. Sodexo coupons: The Reserve Bank of India provides its subordinates a coupon worth Rs. 2000 every month, which can be spent on food/ groceries every month.
  11. Mobile Allowance: RBI grade B employees are able to claim Rs. 1500 as mobile allowance every month.
  12. The employees will be enrolled under the New Pension Scheme (NPS). Additionally, they are eligible to receive the benefits of Gratuity.
Career Prospects

RBI Grade B Career Prospects 2021

  • The aspirants will get the first appointment on probation for two years.
  • As per Bank’s discretion, the probation period may be increased from 2 years to 4 years.
  • Once the aspirants are selected, they will get their posting or can get transfer anywhere across India.
  • To get promotion for higher grades, there are some reasonable prospects, which will be considered.
  • If the candidates will have high academic qualifications or if they are professionally advanced, or if they have relevant/ significant experience in the banking sector, then they will be considered for four advance increments.

After completing the probation period, the aspirants will get promotion. Career prospects of the RBI Grade B officers -

  • Assistant manager
  • Manager
  • Assistant general manager
  • Deputy general manager
  • General manager
  • Executive director
  • Deputy governor
Grade B FAQs

FAQs

Ques. What is the current in-hand salary of the RBI Grade B Manager?

Ans. According to the current notification, the basic salary of the RBI Grade B officer is Rs. 77208 (approximately). This pay scale may vary from the place of posting and also on deductions (that is PF, Tax cut etc).

Ques. What is the best way to join RBI?

Ans. If the eligibility criteria for appearing the RBI Grade B recruitment exam match, then the aspirants can sit for the exam. Only when they clear the final round exam, they will be recruited and joined the RBI.

*The article might have information for the previous academic years, please refer the official website of the exam.

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