RBI Grade B Job Profile 2023: Check Job Profile & Salary

RBI Grade B Job Profile 2023: The Reserve Bank of India (RBI) conducts the RBI Grade B officer exam every year to select suitable candidates for its branches nationwide. The RBI performs a variety of critical functions for the country, ranging from managing commercial banks to assisting the government of India with financial issues during the fiscal year. RBI Grade B officer is among the most prestigious job profiles for those interested in working in India’s banking sector.

*Steps to attempt mock tests are mentioned below in this article.

RBI Grade B officers begin their careers as RBI Assistants or Support Staff, and their careers progress in the following ways: Executive Director, Deputy Governor, Governor, Assistant Manager, Manager, Assistant General Manager, Deputy General Manager, General Manager, Chief General Manager, Principal Chief General Manager, Executive Director, Deputy Governor, Governor. Check out the article to know more!

RBI Grade B Job Profile: Overview

Let us have a look at the overview of the RBI Grade B examinations before getting into other details.

Grade B jobs created by the RBI are extremely respectable and honourable positions that many young people aspire to and admire. Every year, it creates opportunities for people to work in the country’s banking sector and directly participate in decision-making and policy implementation. RBI Grade B jobs offer great benefits to employees in terms of fame, grandeur, monetary benefits, and various allowances and pensions that can be continued even after retirement.

RBI Grade B Career

The candidate chosen for RBI Grade B will be on probation for two years; it can also be extended to four years based on performance. After their training is completed, candidates may be assigned to various departments. People with extensive finance experience may be assigned to HRD and vice versa. Financial Markets, Banking Supervision, Banking Regulation, Currency Issuing, Public Debt Office, Foreign Exchange, HRD, and other departments may also be assigned to selected candidates.

Work profiles differ from one department to the next. However, candidates will be transferred from one department to another after some time. Some Grade B officers will also be involved in policy and planning decisions. The RBI is a regulator, and numerous opportunities and jobs are available. One thing is certain: the work is not monotonous.

How to Take RBI Grade B Mock Test?

Access unlimited RBI Grade B mock tests at Embibe and boost your confidence to face the examination. Candidates can follow the below-mentioned steps to take the mock test series:

• 1st Step: Visit Embibe’s official website, i.e., embibe.com.
• 2nd Step: Use your mobile number/email to log in.
• 3rd Step: Select your Goal as ‘Banking’ under the Government Job section.
• 4th Step: Click Next and select ‘RBI Grade B Phase – I’.
• 5th Step: Click Next and select your preferred language.
• 6th Step: Once done, you can practice questions and take mock tests.

RBI Grade B Salary

The RBI Grade B officer salary for the selected candidates is ₹55,200/-. The pay scale is ₹55,200/- p.m. on the scale of ₹ 55,200-2850(9)-80,850-EB-2850 (2) – 86,550-3300(4)-99,750 applicable to Officers in Grade B. Initial, the monthly gross emoluments are INR 1,08,404/- at the moment (approximately).

The Central Government of India provides the following types of allowances to RBI Grade B employees in addition to their salary:

• Medical Allowance: This is a stipend paid to the employee and his or her dependents of up to Rs. 4000/-.
• Dearness Allowance (DA): DA is paid to employees in the amount of 113 per cent of their base salary.
• Mobile Allowance: An employee may claim a mobile allowance of up to Rs. 1500/- in any case.
• HRA Allowance: The house rent allowance leads to RBI Grade B employees receiving a 2BHK or 3BHK flat. It also gives employees the option of claiming the flat or Rs. 70,000/- as rent allowance for the house.
• Education Allowance: The RBI Grade B employees receive a monthly education allowance of Rs. 4000/-.
• Fuel Allowance: It entitles candidates to 150 litres of fuel per month.
• Spectacles Allowance: The employee of the RBI Grade B can claim an allowance of approximately Rs. 7000/- under this category, which can also be claimed for their spouse.
• Sodexo Coupon: This is a grocery shopping coupon worth Rs. 2000/- provided by the RBI to its Grade B employees.
• Briefcase Allowance: This benefit is worth Rs. 7000/- every three years.
• Leaving Fare Concession Travel: It ensures that Grade B employees of the RBI and their liabilities receive a monetary benefit of Rs. 10000/- every two years.

The RBI also provides for salary increases for Grade B employees.

• The RBI allows for a yearly salary increase of approximately Rs. 1750/- for Grade B employees for the next nine years.
• The salary in the executive band is Rs. 50900/-, with an increment of Rs.1750/year for the next two years.
• The salary is then increased to Rs. 54400/- with a yearly increment of Rs 2000/-.

The RBI’s maximum basic pay for Grade B employees is Rs. 62400/. This could change depending on the promotions given to Grade B employees. The RBI provides employees with numerous opportunities for advancement, as well as a variety of other benefits. Grade B employees are promoted to new positions such as manager, assistant manager, general manager, deputy general manager, assistant general manager, principal chief general manager, executive director, deputy governor, and governor of the Reserve Bank of India. However, each of these different designations has its own set of qualifications and benefits.

RBI Grade B Officer Job Responsibilities

The job descriptions for RBI Grade B officers are as follows:

The RBI is in charge of issuing currency, with the exception of the Rs. 1 note and coin. Thus, Grade B employees are responsible for the circulation and smooth transaction of these currencies to and within commercial banks registered with the Reserve Bank of India.

• Financial stability: It is one of the RBI Grade B officers’ major responsibilities to ensure market financial stability by carefully examining the factors that lead to inflation and deflation.
• Awareness: These Grade B employees are in charge of informing the general public of the country about all of the new measures and technologies introduced by the RBI to benefit the public’s fiscal transactions.
• Government advisers: They typically provide financial assistance to the government of India. The government relies on the financial advice provided by RBI officers.

RBI Grade B jobs are among the most prestigious positions available in the country’s government sector. People are generally drawn to it because of the high level of fame and honour associated with it. Not only the values it offers but also the monetary pay scales are advantageous to candidates who pass the examination by achieving the minimum cutoff marks and obtaining the position of RBI Grade B employee.

Candidates can also check:

FAQs on RBI Grade B Job Profile

The following are the most frequently asked questions by RBI Grade B aspiring candidates:

We hope this article on RBI Grade B Job Profile helps you. If you have any questions, please check our website or download our app. We will be happy to help you out.

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