RBI Grade B Salary & Benefits
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RBI Grade B is one banking exam that is the mother of all exams. And why wouldn’t it be? After all, it is conducted by the Reserve Bank of India. The father of all banks in India. It was established in 1935 and was nationalized in 1949. Now, you would say the bigger the opportunity bigger the competition. Well, friends, the in-hand salary is also huge.  

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Many think SBI PO is the most lucrative job when it comes to banking exams. But RBI Grade B does offer a much better salary and benefits. If you get recruited in RBI via this exam then you will be working in a well-respected position as a beginner.  

Just imagine the feelings you will experience the day you update your job status as an RBI Grade B officer on social media platforms. It will be a true sense of achievement. It is really about what you want for yourself?  

The job of RBI also comes with a good workload. But the quality of work you will do at RBI compared with other banks is surely comparable. The candidates who are selected as RBI Grade B officers are offered the basic pay of Rs. 35,150 in the scale of 35150-1750 (9)-50900-EB-1750 (2)-54400-2000 (4)-62400.  

The in-hand salary by including all the perks, benefits, the allowance will be Rs. 77,208 (approx.) 

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List of all allowances given to an RBI Grade B Officer: 

  1. Local allowance 
  2. Medical allowance 
  3. Family allowance 
  4. House Rent allowance 
  5. Grade allowance
     

As a Grade B officer, you will be kept at the probationary tenure of two years. The period can also be increased up to four years.  

All the perks allotted to an RBI Grade B Officer: 

  1. Fuel allowance 
  2. Bank accommodation 
  3. Leave fare concession 
  4. Reimbursement of expenses for maintenance of vehicle for official purpose 
  5. Furnishing of residence 
  6. Expenses are given for the maintenance of used vehicle for official purposes 

Job Profile of RBI Grade B Officer: 

  • Proper circulation of currency 
  • Controlling the supply of liquidity in the market 
  • Management of central bank accounts 
  • Management of government accounts 
  • Assisting higher officials with various central banking affairs 

As an RBI Grade B officer, you are also eligible for various promotions once you finish your probation period. Unlike any other government, organization promotions are mostly based on a seniority basis.

Here are the possible positions you can secure after the probation period: 

  1. Assistant Manager 
  2. Manager 
  3. Assistant General Manager 
  4. Deputy General Manager 
  5. General Manager 
  6. Chief General Manager 
  7. Executive Director 
  8. Deputy Governor 

Let’s now look at other important aspects of the RBI Grade B exam such as eligibility criteria, syllabus, exam pattern, etc. 

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RBI Grade B Eligibility Criteria 

Age Limit: Graduates with a minimum of age 21 and with the maximum age of 30 

Educational Qualifications: You must be a graduate which means you should have a legit undergraduate degree for appearing in the exam. However, educational requirements and the RBI cut-off for marks for the highest educational qualification can vary as per the department you will choose. 

Number of Attempts: General or unreserved category candidates can give the exam for six attempts.  

Nationality: Indian nationals, subjects of Bhutan and Nepal can apply for the RBI exam. The refugees and migrants can also apply for the RBI Grade B exam if they can produce the necessary document which is a certificate of eligibility issued by the Government of India.  

RBI Grade B Exam Pattern 

Phase I Exam: General Awareness, English language, Quantitative Aptitude, Reasoning Ability 

Phase II Exam: Economic and Social Issues, English Language, Finance and Management/Economics/Statistics 

Phase III Interview: General Awareness and Interpersonal Skills  

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Are Economics & General Awareness key subjects for RBI Grade B preparation? 

Yes, this goes without saying that RBI does focus a lot on economics as a criterion for selection. If you look closely at the exam pattern you will find phase II is dominated by economics along with other subjects such as statistics and finance.  

Reserve Bank of India being a premier bank that controls all the banks in India is an apex body. The workload along with the responsibility of the entire banking system is borne by the RBI. The formulation of economic policies, banking regulations, repo rates, and other technicalities are all overlooked by the RBI. And all of these require extensive and practical knowledge of economics, finance, current affairs, and the banking system. So, it makes sense why RBI focuses so much on economics, financial skills, interpersonal skills, English, etc. Other banking exams repeat the syllabus of Phase I or prelims but in the case of RBI, it’s completely different.  

Conclusion 

RBI Grade B officer exam is one of the most beneficial career options in India. It will require an overall development of a candidate. In order to crack the exam, you can start giving free mock tests right away. There is no success without solving plenty of mock tests when it comes to the RBI Grade B examination. A regular improvement in your all-India rankings indicates you are headed in the right direction. 

Feel free to ask any question in the comments you still wish to be answered.  

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