Countless candidates who yearn for a respectable Banking job with a well-paid salary, allowances, a pension plan to secure their future post-retirement, prefer to go for RBI Grade B Exam. Every year, the Reserve Bank of India (RBI) fills hundreds of vacancies for various posts. This year too, RBI will select candidates for Grade B post via three phases, namely, Phase-I & Phase-II & and the interview round. Those candidates who will qualify for the two phases will have to face the final process, which is the interview round.
The RBI Grade B Officer salary, job profile & promotion policy are the major reasons for the attraction of candidates towards this exciting job profile.
RBI Grade B Salary & Perks
As per the official notification for 2021, the basic pay or the starting salary of an RBI Grade B Officer is Rs. 35,150/– per month and the Gross monthly salary is approx. Rs. 83,254/-.
Given below are the details of RBI Grade B Salary 2021:
| RBI Grade B Officer Salary (Basic Pay) | Rs. 35,150 |
| Pay Scale | 35150-1750 (9)-50900-EB-1750 (2)-54400-2000 (4)-62400 |
| Initial Monthly Gross Emoluments | Rs. 77,208 (approx) |
RBI Grade B Salary Increment (After 5 Years)
| Details | Increment |
| For 9 years from the day of assuming the position of Grade B officer | An increment of Rs.1750 |
| After 9 years | An increment of Rs.50,900: Rs.1750 (for the next 2 years) |
| For the next 4 years | An increment of Rs.2000 increasing the basic pay to Rs 54400 |
| After 16 years | the maximum basic pay will be Rs. 62400. |
Note: Along with the RBI Grade B salary, various other allowances are also provided to an Officer.
RBI Grade B Salary Allowances
Apart from the Basic Pay, multiple emoluments such as Dearness Allowance, House Rent Allowance, Family Allowance, Telephone Allowance, Conveyance Allowance, etc. will also be provided.
| Allowance | Details |
| Dearness Allowance (DA | DA of 113% of the basic salary. |
| HRA Allowance | 2BHK/3BHK flat is given to an RBI Grade B employee. In case, the employee is not allocated a flat, he can claim up to Rs 70,000 as rent allowance. |
| Medical Allowance | Medical allowances up to 4000 Rupees can be claimed. This allowance is also valid for the dependents of the employees (Immediate family members). |
| Education Allowance | RBI Grade B officer can take Rs. 4000/- under education allowance every month. |
| Fuel Allowance | He/she can claim 150 liters of fuel per month. |
| Maid Allowance | He/she can receive Rs 3000/- under the maid allowance to keep a maid. |
| Mobile Allowance | He/she can claim up to Rs 1500/- as a mobile allowance. |
| Sodexo Coupons | Sodexo coupons worth Rs 2000/ given to the employees by RBI to spend on food/groceries. |
| Leave Fare Concession Travel (LFC) | RBI employees or their dependents can claim Rs 100000 under LFC allowance once in two years. |
| Briefcase allowance | The officers can avail of Rs.7000 under the briefcase allowance. This amount can be reimbursed once every three years. |
| Spectacles allowances | Spectacles allowance of Rs 7000/- can be claimed for either the RBI Grade B officer or the spouse. |
Pay & Allowances with deductions
| 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 |
RBI Grade B Perks
The perks provided to an RBI Grade B Officer are as mentioned below:
- Bank Accommodation
- Reimbursement of expenses for maintenance of vehicle for official purpose
- Leave Fare Concession
- Loans and Advances at concessional rates
- Furnishing of Residence
- Fuel Allowance
RBI Grade B Job Profile
With a high salary, RBI Grade B Officer has to enjoy a heavy workload. Given below are the job profiles for the Grade B officers:
| Job Profile | Details |
| Issuing currency | RBI is responsible for the issuance of the coins and the currency. The RBI Grade B Officers are responsible for its circulation to the various nationalized banks under RBI. They are responsible for the smooth functioning of the currency to the subordinate units of RBI and take note of the same. |
| Financial stability | RBI Grade B officers ensure financial stability in the market by examining the factors that lead to inflation or 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. |
Career Growth or Promotion
RBI Grade B Career Growth and Promotion
RBI Grade B officers start their career with the post of RBI Assistant or Support Staff. Initially, an RBI Grade B Officer is appointed on probation of two years which may be extended up to 4 years. Once, an employee completes the probation period; he is liable to get promoted to higher posts. The posts to which an RBI Grade B Officer can get promoted to are as follows:
- Assistant Manager
- Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Chief General Manager
- Executive Director
- Deputy Governor
- Governor
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