RBI Grade B Salary 2023 | Check Pay Scale, Career Growth, and Job Profile

RBI Grade B Salary: If you are looking for a highly respected job, good salary, allowance as well as a secured future through pension, then becoming an RBI grade b aspirant might lead you to that path. 

The RBI Grade B salary after the 7th Pay Commission is around Rs. 77,000, presently. There are many perks of being an RBI Grade B officer, be it the salary or the other allowances provided to them. In this article, we will discuss more about the RBI grade b officer, their perks, allowances, RBI wage revision 2023, and everything else one needs to know.

Important: RBI Grade B Salary Per Annum 2023

RBI grade b salary 2023 7^th Pay Commission talks about how RBI or Reserve Bank of India is carrying out RBI grade b Recruitment for filling up 322 vacancies. The recruitment will be carried out through a selection process of two phases of exams and interviews.

Phase 1 will be an online objective exam and phase 2 will be an online objective as well as a descriptive exam. All those who qualify for the recruitment process will be recruited as RBI Grade B officers and provided with a great salary, allowances, and perks.

For 2021, there are different vacancies for many posts.

• 270 vacancies for Grade b (DR) – General.
• 29 vacancies for Grade b (DR) – DEPR.
• 23 vacancies for Grade b (DR) – DSIM.

Basic monthly pay	Rs. 35,150
Gross monthly emoluments	Rs. 83,254 (Approx.)

Exclusive RBI Grade B Salary Increment

All the RBI Grade B officers will be paid Rs. 12 to 14 Lakhs annually. The employees are paid on the scale 35150-1750(9)-50900-EB-1750(2)-54400-2000(4)-62400.

RBI Grade b Basic Pay	Rs. 35,150
RBI Grade b Basic Pay Scale	-1750(9)-50900-EB-1750(2)-54400-2000(4)-62400
RBI Grade b Grade Pay	NA
RBI Grade b Net Salary Including All Allowances	Rs. 77,208 (not in hand) Rs. 53,000, approx. (in hand)

It means the basic pay will be Rs. 35,150 with an increment of Rs. 1750 after 9 years of service. After the completion of your 9-year tenure, the basic pay will increase to Rs. 50,900. In the next 2 years, there will be another increment of Rs. 1750. For the next 4 years, there will be an increment of Rs. 20,000 and the basic pay will be Rs. 62,400.

The RBI Grade B Officer’s in-hand salary will be Rs. 53,740 per month.

RBI Grade B Salary – Promotion [ Carrer Growth]

There is a list of promotions of RBI Grade B officers mentioned below.

• Assistant Manager
• Manager
• Assistant General Manager
• Deputy General Manager
• General Manager
• Chief General Manager
• Principal Chief General Manager
• Executive Director
• Deputy Governor
• Governor

1. If an RBI Grade B officer works sincerely and hard work, then he or she can reach up to the level of Executive Director or ED and some may even become Deputy Governors or DG.
2. On the boards of every Public Sector Bank, there is an RBI representative at the post of CGM level officer in RBI.
3. With an extraordinary performance, an officer can also go on deputation to foreign institutions such as the World Bank, IMF, Home Ministry, Finance Ministry, etc.

Must-Read RBI Grade B Job Profile

After the selection of the candidate under RBI Grade B recruitment, he or she will be on a probation period of at least 2 years which will include a training period of 15 weeks. The job profile is somewhat similar to a desk job, but it’s not limited to just that.

There may come times when the officer has to communicate with the State and Central government departments as well as various RBI regional offices.

The job profile of an RBI grade b officer can vary from post to post based on the locations to which one has been posted. Below the job profile of an RBI grade b officer has been mentioned.

• An RBI Grade B officer is responsible for maintaining the circulation of currency and coins. They also look for the smooth functioning of the currency.
• They manage and control the supply of liquidity in the market. The officers play an important role in the process of decision-making and managing liquidity in the market through various policies.
• The officers have to manage the government and central bank accounts. They mostly manage bank accounts of various government sectors.

Know RBI Grade B Salary – Allowances and Perks

1. HRA Allowance:

   The RBI Grade B employees are provided with 2BHK or 3BHK flats by the Reserve Bank of India and if not, they can claim for rent allowance up to Rs. 70,000.

2. Dearness Allowance:

   The officers will receive a Dearness Allowance or DA of 113% of their basic salary.

3. Education Allowance:

   RBI offers education allowance to its employees based on different parameters. They can have a monthly education allowance of Rs. 4000.

4. Medical Allowance:

   All the employees can claim a medical allowance up to Rs. 4000. Even their dependents are also allowed to do so.

5. Leave Fare Concession Travel or LFC:

   Under the LFC Travel allowance, an employee can avail of LFC for themselves, their spouse as well as their dependents once every two years. Under this allowance, the employees will be offered around Rs. 1,00,000 by the Reserve Bank of India.

6. Fuel Allowance:

   If an RBI Grade b Employee owns a vehicle in his or her name, they can monthly claim for 150 liters of fuel.

7. Bank loans:

   An employee of the RBI can get loans at cheaper rates for housing, vehicle and more.

8. Sodexo coupons:

   For food and groceries, RBI provides their employees Sodexo coupons worth Rs. 2000.

9. Briefcase Allowance:

   An RBI Grade B officer can avail of Rs. 7000 under the Briefcase Allowance. Also, they can reimburse this amount once every three years.

10. Maid Allowance:

    Every RBI employee is offered Rs. 3000 under the maid allowance.

Know RBI Grade B Exam Preparations Tips

• Know your exam well:

Before making a preparation plan, start gathering information about the exam. Read all the articles related to the RBI Grade B examination and know all the necessary information.

This will include the exam syllabus and pattern, eligibility criteria, marks distribution as well as the difficulty level of the exam.

• Division of topics:

Start by dividing the subjects into categories of easy and difficult or strong and weak. Start with the easy ones as they will take less time to finish. Then you can move on to the difficult ones with plenty of time.

• Build the base:

Always begin with NCERTs and clear your concepts. When you are done with that, only then move to help books.

• Help from additional Books:

Help books will enhance your practical knowledge so never skip them. Practice the unsolved question papers once you are done with understanding the topics.

• Note-making is a must thing:

Make short and to-the-point notes, highlight the important parts, and revise them.

 

• Revision is sorely needed:

You cannot remember everything you’ve studied, so never stop the revision process. Brush up all the concepts again and again before you appear for the RBI Grade B exam.

• Practice previous years’ question papers and mock tests:

RBI Grade B Previous years’ question papers will help you in knowing a lot about the exam, as its pattern, marking scheme, important fields of subject, etc.

After this, appear for mock tests and check how much you’ve grown as well as how much more you need to build yourself. Focus on the weakest portions and work hard on them.

• Keep yourself updated:

Gather as much information as you can from books, magazines, televisions, and newspapers. Keep yourself very updated.

If you have any queries related to the RBI Grade B exam, then you can ask in the comment section.

FAQs on RBI Grade B Salary