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Reserve Bank of India (RBI) Officers: Salaries and Perks

Updated on July 20, 2015

Salaries at the RBI

The old Reserve Bank of India building in Mumbai.
The old Reserve Bank of India building in Mumbai. | Source

The Reserve Bank of India (RBI) is one of the premier employers of India. As the nation's money market and bank, the RBI offers handsome career options, both in terms of salary, benefits, and quality of life.

Compared to other government jobs, including the Civil Services, employment at the RBI is highly predictable and generally brighter with less bureaucracy and corruption. Reserve Bank employees generally work a five-day week at postings in metros or state capitals. RBI work environments are easily adjustable and the pay packages are the best in the industry pay packages. Let us talk about details.

Note: Information below was last updated in 2013.

RBI Seniority Levels

The Reserve Bank of India regional office in Delhi with the Yakshini sculpture depicting "prosperity through agriculture."
The Reserve Bank of India regional office in Delhi with the Yakshini sculpture depicting "prosperity through agriculture." | Source

Seniority levels for RBI officers are divided six into groups (A to F):

  • Groups A and B are the most junior levels. Officers for these groups are recruited directly almost every year. College graduates and postgraduates are recruited for group B through examinations conducted by the Reserve Bank of India Services Board.
  • Groups C and D are levels requiring more experience. Direct recruitment for these levels occurs almost every year.
  • Group F is the most senior level and includes officers such as Deputy-Governor and Governor. These officers are collectively are called Class-I employees.
  • RBI also has a large number of class-III and class-IV employees, which work as service staff and other subordinate levels. Strangely, there is no class-II level in RBI.

Basic Pay

All salary components are based upon basic pay or base salary. The table below shows the annual increment by which base pay will increase (normally irrespective of performance). As you can see, the starting basic salaries for group B officers are 21000. This is supplemented by the Dearness Allowance (58+%), House Rent Allowance(10+%), etc. making the gross salary well above 40,000 (excluding the sweet little perks).

Cadre Level
Basic Pay at Start of Scale
Annual Increment
Group A
17,100
1,000
Group B
21,000
1,000
Group C
28,350
1,000
Group D
39,850
1,200
Group E
42,300
1,300
Group F
60,600
1,600

Local and Family Allowance

All officers except for those in group F are eligible for local allowance. There is a maximum ceiling for this benefit, which varies by level. Similarly, all officers except those in group F are eligible for family allowance. Refer to the table below for details.

Cadre Level
Local Allowance
L.A. Ceiling
Family Allowance
F.A. Ceiling
Group A
5% of basic
1,300
4% of basic
1,100
Group B
5% of basic
1,300
4% of basic
1,100
Group C
5% of basic
1,300
4% of basic
1,100
Group D
5% of basic
1,600
4% of basic
1,200
Group E
5% of basic
1,600
4% of basic
1,200
Group F
Not eligible
0
Not eligible
0

Grade and Special Allowance

These allowances are given to all officers who are confirmed in their grade. In addition to being confirmed, officers must satisfy the eligibility criteria. See the amounts for these allowances below.

Cadre Level
Grade Allowance
Special Allowance
Group A
1,500
2,500
Group B
2,250
2,500
Group C
4,500
2,500
Group D
6,750
2,500
Group E
9,000
5,500
Group F
10,000
0

Commentary on RBI Salaries and benefits

Monthly Reimbursements: Educational, Household, and Telephone

Employees are also eligible to be reimbursed for education fees, telephone bills, and domestic help wages. See details below.

Cadre Level
Education (Rs)
Household (Rs)
Telephone (calls)
Group A
2,000
2,000
500
Group B
2,000
2,000
800
Group C
2,000
2,000
1,500
Group D
2,000
3,000
2,000
Group E
2,000
3,000
2,000
Group F
2,000
4,000
3,500

Conveyance Expenses

All the employees are eligible for a petrol quota depending upon their city and grade. Those living in Mumbai, New Delhi, Chennai, Hyderabad, or Bangalore get an extra 30 litres above their group quota. Those who don't own a car are given cash instead of petrol. However, the cash payment is less than the petrol value and car owners also receive monthly vehicle maintenance allowances. See the table below for details.

Cadre Level
Petrol (Ltrs)
Reimbursement for Non-Car Owners
Car Maintenance Allowance
Driver Allowance
Group A
120
4,000*
0
0
Group B
120
4,000*
0
0
Group C
150
5,000*
1,000
5,500
Group D
180
6,000*
2,500
5,500
Group E
210
6,000*
2,500
7,000
Group F
270
6,000*
2,500
7,000
*Revised periodically

Official Car and House A/C

Officers in grades E and F are eligible for car and home air conditioning. The maximum price of car and AC is Rs. 8,00,000 and 20,000 respectively. An additional 200 units of free electricity is provided by the employer for paying AC costs. A condition is that upon retirement the officer will buy the car for Rs. 50,000 or the actual depreciated value of car, whichever is higher.

Annual Reimbursements: Medical, Book Grant and Briefcase

Apart from monthly reimbursements, there are other allowances reimbursed annually. These are eligible upon presentation of receipts or bills. The maximum permissible amount for medical, book grant, and briefcase allowances are below.

Cadre Level
Medical
Book Grant
Briefcase
Group A
4,000
4,000
5,000
Group B
4,000
4,500
7,000
Group C
4,000
5,000
7,000
Group D
5,500
6,000
9,000
Group E
5,500
6,000
9,000
Group D
5,500
7,000
9,000

Easy Loans for Car,Bike, or PC Purchase

Concessional loans are available to all employees planning to purchase either a car, bike, or PC/laptop. The quantum of advance, interest rates, and conditions are in the table below. New loans can be taken out once an old loan is paid off and a period of time has passed (four years for a car, one year for a bike, and five years for a computer.)

Item
Loan Eligible
Interest Rate
Conditions
Car
7,00,000
7%
Maximum limit = 90% of cost
Motor Bike
75,000
6%
Maximum limit = 90% of cost
Computer
50,000
6%
Maximum limit = 90% of cost

Wasn't That Exhaustive? Well There's More

There is a bagful of other allowances and reimbursements which I will list down in short:

Furnishing of Residence: All officers are eligible to furnish their residence periodically. This furnishing allowance can be availed once every five years.

JAIB/CAIIB Allowance: To reimburse those who take CAIIB or JAIB courses at the Indian Institute of Banking and Finance, a banking college with an MoU with RBI. These courses can be taken while on job.

Special Functional Allowance: For those who work as private secretaries in grades A or B.

Provident Fund, Gratuity and Retirement: Though PF is included in basic pay, retirement is a true asset.

Leave Fare Concessions: AC 2nd Class for all employees with basic pay Rs. 33,200 or less and airfare for those with basic pay above 33,200.

Deputation Allowance: Up to 7.75% of basic pay is allowed in addition to existing pay for those working on deputation in RBI.

Furnishing Allowance

Cadre Level
Amount Permissable
Group A
70,000
Group B
70,000
Group C
90,000
Group D
1,10,000
Group E
1,50,000
Group F
2,00,000

Intangible Benefits

That is about all of the tangible benefits of a job with RBI, but there are other, intangible, benefits as well. RBI provides a safety net through life insurance, medical insurance, OPD expense reimbursements, education leave, and more. While the cost of these benefits is borne by the employer, the actual gain can never be overlooked.

Beyond Salary and Perks

Even if we forget the CTC, jobs at RBI offer handsome prospects for learning and growth within the organisation. RBI has become a be-all-end-all institution for budding graduates, who can dream of becoming Deputy Governors before retirement, provided that they land a position at right age. Others use these jobs as a launch pad for other international organizations. They move to World Bank, IMF, ADB, and the like. Some others move to high profile jobs in investment banks.

Before venturing deep into the future, perform a reality check. Getting recruited to RBI is as tough as it is easy to like the salaries. Around 40,000 aspirants apply for a meagre 200-300 entry level jobs every year. There will always be those who make the cut in the end because they passionately wanted the job.

Good luck!

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    • profile image

      Pooja .S. Swain 2 months ago

      Sir, i am B.Com , i want to give an exam of RBI Bank sales department or any post alse at ankleshwar ...plz reply soon.

      Pooja Swain

    • profile image

      Satish 3 months ago

      Hello, what is the salary and how is the life style and future ( I. E promotion) of assistant manager security in RBI??

    • profile image

      Ankit 4 months ago

      Is AMIE(section A and B cleared) graduate eligible for RBI B grade exam?

    • profile image

      Ankit Dwiwedi 5 months ago

      I request you to kindly present the final salary (approx) for various Groups(A-F) in tabular form. Thanks again

    • profile image

      vivek saxena 7 months ago

      does rbi give home loan to his employees?

    • profile image

      MEENA 9 months ago

      Sir,

      who is Sneha Joshi Abraham?

      she is working the RBI

    • profile image

      Gourab Majumder 11 months ago

      Is RBI GRADE B officer 2nd best job after upsc or 3rd best job after upsc and state psc ???

    • profile image

      Yogesh Gabani 11 months ago

      Hi Gurpreet, Are we eligible for perks and benefits during probation period?

    • profile image

      Raj Tripathi 13 months ago

      What about the growth and promotion policy followed to Technical Manager-B Civil/Electrical officers? Up to what rank can they rise in their Career with RBI till retirement?

    • profile image

      dev 13 months ago

      grade A officer in rbi comes under which class of government job group a/b/c

      ?

    • profile image

      Manoj 21 months ago

      Hello Gurpreet,

      Thank for providing the valuable information on the subject matter.

      The aspirants of this domain would be benefited. I wanted to to know about the lateral hiring/direct recruitment in grade C/D in RBI.

      If you have such any information ( earlier data would also help), please provide the web link.

      For the information of the aspirants, almost every perk and benefits other than the core salary have been revised during 2013- 14.

      So the total in hand salary is much more higher than the portrayed here.

    • profile image

      girish kumar 21 months ago

      When RBI wage revision will happen .

    • profile image

      Anil 23 months ago

      Hallo sir

      Gurupreet sir there is any process to apply for directly to grade E and F officer level post .I have to get these post .please suggesh me better way to follow herarchy of RBI posts

    • profile image

      Aniket 24 months ago

      Hi, is it possible to move to investment banking or private equity after working a few years at rbi? If yes, which departments should one work at? Thanks in advance!

    • profile image

      Upendra prasad 24 months ago

      Pl tell me regarding change in pension payment of RBI retired officers

    • profile image

      ProudIndian405 2 years ago

      Hi all! Good to see so many aspirants here. I'm preparing for civil services exam. I'm also interested in taking up grade B exam. I wanted to know whether one gets sufficient time to prepare for civil services once he/she takes up the job as grade B officer. What will be the nature of work for a grade B officer? Will it be hectic or does one find sufficient free time so that they can prepare for other exams?

    • profile image

      Arun 2 years ago

      Hi ,

      I am confused about preparing for the RBI exam . I am working in a PSU , where my gross salary is approx 44k , travel allowance approx 20 k in a year , another allowance of the same amount , plus medical coverage .

      I want a job in North India , where my home is . I am looking for a a government job which is of same level or better than my current job and most important factor is location . So , if anyone could clarify me on this . Thank you .

    • profile image

      rbi 2 years ago

      Leased accommodation is only given if there are no flats available in the colony, usually happens in Mumbai and for a very small number of people in Delhi.

      Housing loans for staff are cheap, very cheap as they are given at Simple Interest and at low EMIs!

    • profile image

      pritam 2 years ago

      Does anybody know ,is leased accomadation facility thier in RBI.and is concessional housing loan is thier if yes, then what is the intrest rate...

    • profile image

      sanjay 2 years ago

      Gurpreet Dear is busy somewhere.

    • profile image

      Amrita Shukla 2 years ago

      Can you please update on RBI pay revision. How much % of hike is expeced

    • profile image

      aarzoo 2 years ago

      hi. actually i want to know that how i prepare for rbi grade b officer exam

      please suggest me some importent and useful books for preparation .

      and i also want to know about the monthly sallary of a grade b officer in case included all the perks and allowences.

      thanks.

    • profile image

      2 years ago

      can one do mba after RBI GRADE B like in ias??

    • profile image

      Anmol 2 years ago

      I complete my 12 th class so what i do for joining rbi in group f

    • profile image

      Anon 2 years ago

      Apart from the perks above, there is the provision to travel abroad (Europe, USA, S.E. Asia etc) every 2 years as part of LTC. Housing loan til Rs. 30 lakh (likely to increase to Rs. 50-60 lakh) at cheap rates (5%-9%, Simple Interest!)

    • profile image

      rohan 2 years ago

      I am assistant commandant in crpf and there is option to shift my job in RBI as security manager MMG scale 2. Plz comment the gross salary after joining.Regards.

    • profile image

      PUNKS 2 years ago

      GURPREET SIR

      would like to know if there is any internal promotion exam from GRADE B officer to higher designation or grade...

      Regards

    • profile image

      divyesh 2 years ago

      I have doubt in salary of assistant in rbi.

      So, please inform me what is the basic salary of rbi assistant and after added all allowances it will become how many approximately.

    • profile image

      Sindhu 2 years ago

      Great insight into RBI jobs... Thank you very much for this

    • profile image

      shivam 3 years ago

      My DOB is 15th june 1994 . Will I be eligible for 2015 grade b recruitment considering the fact that this year lower age limit was 21 years on 1st june 1993. Plz reply soon.

    • dhimanreena profile image

      Reena Dhiman 3 years ago

      It is a great hub and I want to congratulate you on that. RBI is the apex bank in India. Every year, many students do preparation in order to get a job in this central bank. I am sure your hub would be of great help to such people.

    • naved007 profile image

      naved007 3 years ago

      THANKS FOR THE GOOD HUB

    • profile image

      ghani 3 years ago

      Hi Gurupreet Ji,

      It's really very informative for RBI grade B aspirants. I am one of the aspirant looked for such type of information to have a clear plot for preparation. Presently, I am working in PSB as a Assistant Manager with a service of 2 years. I hope this will add up to my preparation for Grade B exam.

    • profile image

      manoj 3 years ago

      Hi Gurpreet, first of all let me congratulate you and at the same time thank you for this wonderful page. I can understand the kind of commitment you have 2words it. Gr8! man. If you could get some info on the Assistants exam, their perks n allowances, promotional prospets etc it would be of immense help to many aspirants like me. I am sure you can and will do some work and come out with useful info. Thanking in anticipation. N may God bless you..

    • profile image

      Raghvendra 3 years ago

      Sir I wants to do job in RBI I am studying b.com economics from Bhopal school of social sciences now I am in second year and I will get graduate in 2016 so what are the job opportunities in RBI by 2016

    • profile image

      vrun 3 years ago

      sir who is an assistant in RBI? are they hold the position of a clerk?

    • profile image

      Saroj 3 years ago

      Hi gurpreet,

      I missed the registration for grade b officer examination for RBI.

      I'm an engineer from a decent university and have a job right now.

      Would You advise me to try for assistant post in RBI?

    • profile image

      Sohel Rana Alam 3 years ago

      Hi,

      Gurpreet Sir, First of all i would like to thank you to make a Blog like this. It's really helpful to everybody. I would also like to know something about you.

      My question is that , I am pursuing MBA Finance from Sikkim Manipal University (Distance), I completed BBA (Finance) through Punjab Technical University (Distance) with 63.75% Marks. If I clear the written exam of RBI is there any chances to get selected as an RBI Grade B officer? My Graduation & Masters both are Distance degree, So will they give me same value like other students or they may give priority to other Regular students???

      Currently I am working in a Govt School as an Admin Clerk. I have experience of 2 Years in BPO sector & 2 Months in a Pvt Bank as an Officer.

    • profile image

      ranjane 3 years ago

      Hi Gurpreet,

      I'm an engineering graduate just now completed in May 2014 with 70%.

      How should I start to prepare for the RBI exam. How long does it takes for the preparation? And in which grade im eligible?

      Kindly inform that which book should I study to clear the exam?

      Thanks

    • profile image

      Anjali bb 3 years ago

      Thanks to all. It's really an informative site. Special gratitude to Sir Gurpreet.

      I'm an RBI aspirant too.I will be a frequent visitor from now on :). Those who are trying hard for RBI grade B post, may your dream come true.

    • profile image

      Vineet 3 years ago

      HI Gurmeet,

      I am a new visitor to your site and found this to be of immense help. Could you please help me with couple of queries:

      1. My total work experience is 7 years into large private financial institutions. Is there any age relaxation for people having relevant prior experience? Will my experience of MNC be considered as a relevant one?

      2. Does RBi also conduct exams for GRADE 'C' ?

      THanks

      vineet

    • profile image

      chintan 3 years ago

      Hii Gurmeet,

      Thanks for this valuable information. Can u help me out with two questions please ?

      1. If we get selected , then does it provide a chance to give 3 months notice to the organization we currently working in ?

      2. Do we get a chance to select a city of work?

    • profile image

      Guru 3 years ago

      I read Ramesh Singh for Indian Economy, Dutt Sundaram was way too much academic for me. Should I re-read Indian economy by Dutt Sundaram ?

    • profile image

      kishor 3 years ago

      anywhere.

    • profile image

      gurmeet 3 years ago

      Hi,

      I'm currently doing m.s.q.e. from I.s.i delhi.

      Can you tel me which gateway is better to enter rbi-general or depr.

      also is there any scope for rbi funded doctoral studies or any other policy related courses .

    • profile image

      veena 3 years ago

      Does Code of conduct denies new vacancy and recruitment till election is over

    • profile image

      shruti 3 years ago

      hi..

      i have done BCA from nalanda open university . it is a state distance educational university.. my percentage is 79.40 %. Am i eligible for the post of rbi grade b officer ???

      plz rply.. thnx

    • profile image

      yashwant 3 years ago

      Sir,

      i have cleared rbi assistant and IBPS PO which is better... i am ex Indian Navy .. if rbi is giving pay protection then i have to surrender DA on pension .. over all loss of 2000.. where to go totally confused.. plz suggest

    • profile image

      Anurag Gupta 3 years ago

      @last yr intrvw and @ anil kesh

      I fully agree, there is sumthing terribly wrong. Even i have faced interviews twice, one last year and one in 2009 panel year. this time I flunked in Phase II. This was my last attempt age wise and attempt wise both. I am not able to comprehend that what must have went wrong. And Anil, there is no concept of reserve list. UPSC maintains it and it also declares it. In last yr interview, they did call one candidate of previous year for final selection, but that was a court case. But otherwise RBI does not maintain any reserve list.

    • profile image

      Anil Kesh 3 years ago

      @last year interview

      Even i m not able to get it. Twice i have cleared phase II and got intervw call. this time, cudn't clear phase II. Really, no clue, what must have went wrong. The whole series of my roll no. is missing. This time i was more confident of my answers. Hey Gurpreet ny idea, does RB I maintain a reserve list/ contingency list like UPSC for past year's intervw faced candidates ?

    • profile image

      last year interview 3 years ago

      phase ii results out...

      didn't get the call...don't have a clue what went wrong..

      what about you Gurpreet?

    • profile image

      Ramith30590 3 years ago

      Hi Gurpreet,

      First of all, thanks a lot for providing so much info regarding RBI exams.

      Could you please let me know when is the next Grade B officers exam called for B,com graduates?

    • profile image

      Anil Kesh 3 years ago

      Hi any idea, when will RBI declare phase II exam results ?

    • profile image

      pavan 3 years ago

      want to known that how much time it will take for a grade B officer to reach grade C or any other higher post next of grade B

    • profile image

      lolzz 3 years ago

      lolz to the "above info"

    • profile image

      Abhijit Singh 3 years ago

      Hi everyone,

      RBI Phase -II results are coming on Monday, 13, Jan. Keep ur fingers crossed !!

    • profile image

      Avinash Ghanti 3 years ago

      Hi Gurpreet,

      I just today looked into this site and was keen to know more about RBI.

      I am a B.Com+EMBA graduate and currently working for ANZ, Bangalore in technologies as a Business Analyst in Commercial Lending space. I have overall 8 years of experience and I am 30 years old. If I want to join RBI, at what level or grade will I be joining and what are the eligibility criteria and mode of exams. Please comment and await your prompt response.

      Thanks a lot..

      Avinash

    • profile image

      Rajeshwar Singh 3 years ago

      i want to know abot C.O.T Code

    • profile image

      BRK 3 years ago

      hello sir...can u clarify me regarding salary, promotion, work pressure of RBI Grade b Officer......

    • Binu K Nair profile image

      chandu 3 years ago from surat

      Sir, request ur advice, i want to join join rbi as an assistant and take up departmental exams after 3 years to become assistant manager. How tough is that exam ? is it easier compared to direct Grade B officer exam ?

    • profile image

      shweta 3 years ago

      I am a chartered accountant......I have appeared for Mains of RBI Grade B officer in Nov 2013...can u tell me When will b d result cumng...How should i prepare for Interview n what exactly is d job profile of Officer.

    • profile image

      Anil Kesh 3 years ago

      Hi ao@nia

      I m a direct recruit AAO in LIC. I will never leave LIC for any bank PO. In fact my decision to get into LIC was wrong. Anyway. But many of my colleagues have left LIC for Bank PO. LIC or other general insurance companies like NIA, do have better basic salary but definitely not the perks like banks give to their employees like furniture, petrol allowances etc. Plus the marketing pressure in Insurance companies and unnecessary late sitting culture (especially in LIC) definitely is bad. Moreover the social status a bank employee enjoys is far better than the social status of an insurance employee, even if one is a Divisional Incharge. Another imp thing is the level of exposure. In my 4 years of job in LIC, I have seen the insurance sector employees have very less or little knowledge about other sectors. They do not have much exposure. While a bank PO has better exposure and seems to be a much more learned person than an insurance AAO or AO.

    • profile image

      ao@nia 3 years ago

      hi gurpreet...

      thanq verymuch for nice info..

      I'm an AO @ New India assurance....

      and i know few of my colleagues came to this job by resigning their PO jobs by remitting their bond amount also to their concerned banks...

      I feel AO @ insurance companies is better than PO in PSU banks in all aspects like salary, work load, working days ...

      may I know on wat basis u told po is better than AO...

    • profile image

      saurabh negi 3 years ago

      Vt would be normal expected tenure as assistant manager security to promote to the rank of manager security and further promotion in higher rank.

    • profile image

      Goutam 3 years ago

      Sir can you give me the list of placeswhere an RBI grade B officer can be posted...

    • profile image

      Ashwin K 3 years ago

      Mr. Anand, i want to know whether RBI grade b officers' work include travelling or it is an office job only? As you have already mentioned that Grade B and C officers are district development managers, so just want to know whether the job is at office only or requires travelling in the city or beyond? Plz answer.Thanks in advance.

    • profile image

      sahil 3 years ago

      can you please tell me where can i get/download previous question papers for RBI grade B research officer in DEPR and DISM?I also want info on the standard of the question papers and the pattern

    • profile image

      pooja gupta 3 years ago

      mam i m pursuing ca-ipcc i want 2 join rbi how can i do this 4 getting job in rbi bank help me support plzzzz

    • profile image

      Anand 3 years ago

      @Anil Kesh

      Both RBI and NABARD have Grade 'B'......though huge qualitative difference in work cultures.

      NABARD has cancelled it Grade 'B' exam..........pls confirm from them

    • profile image

      Anand 3 years ago

      @Abhishek

      Do you choose a career on whether you would get good HRA? or the job profile? Make a choice dear....

      Yes, RBI generally provides better than decent accommodation for Grade B officers in places where it has full offices. In new States, where it has recently set up offices, there also they would provide better than decent accommodation.

      So concentrate on the exam rather than worry about accommodation...

    • profile image

      Anand 3 years ago

      @ Abhishek

      The new direct recruits are given orientation in banking and currency management in the probation period and subsequent to their confirmation in RBI service, they are eligible to work in all the work areas of RBI.

    • profile image

      For Tanya Sehgal 3 years ago

      @Tanya Sehgal, if you have first class graduation in any stream...you can appear for Grade 'B' exam.

      All the best

    • profile image

      Anand 3 years ago

      The attrition rate from RBI is one of the lowest in the world! almost zero....except people getting selected for IAS, most stay for life.

    • profile image

      Anand 3 years ago

      @Chehak, if you want to be the Governor of RBI then better try to became an IAS officer first. The maximum a Grade 'B' DR can reach is the Executive Director level (beyond Grade 'F' officer). Dy Governors and Governor of RBI are Government of India appointees as per RBI Act, 1934

      Section 7. Management - (1) The Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interests. 2) Subject to any such directions, the general superintendence and direction of the affairs and business of the Bank shall be entrusted to a Central Board of Directors which may exercise all powers and do all acts and things which may be exercised or done by the Bank. (3) Save as otherwise provided in regulations made by the Central Board, the Governor and in his absence the Deputy Governor nominated by him in his behalf, shall also have powers of general superintendence and direction of the affairs and the business of the Bank, and may exercised all powers and do all acts and things which may be exercised or done by the Bank. 8. Composition of the Central Board, and term of office of directors - (1) The Central Board shall consist of the following Directors, namely: (a) a Governor and not more than four Deputy Governors to be appointed by the Central Government; (b) four Directors to be nominated by the Central Government, one from each of the four Local Boards as constituted by section 9. (c) ten Directors to be nominated by the Central Government: and (d) one Government official to be nominated by the Central Government. (2) The Governor and Deputy Governors shall devote their whole time to the affairs of the Bank, and shall receive such salaries and allowances as may be determined by the Central Board, with the approval of the Central Government.

      Hope Chehak you are now clear on what is required.

      All the best!

    • profile image

      Anand 3 years ago

      Again about the Gazetted Officer part, Officers of the rank of General Managers in banking systems have certain powers.

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      Anand 3 years ago

      Gurpreet, to correct you on NABARD, it does have district level postings where Officers of Grade 'B' & 'C' are posted as District Development Managers.

      NABARD is a second best option for those thinking of banking careers.

      All the best to you all.

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      chehak 3 years ago

      Hello Sir,

      I am currently doing bcom (hons) from DU, my target is to crack RBI GRADE B exam and my aim is to become governor of RBI so will u please tell me that at what age I have to clear my officer's exam. currently I am in the first year . waiting for your reply! thank you

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      Tanya Sehgal 3 years ago

      Hello Sir,

      I am currently pursuing my 1st year MBA(post graduation), am I eligible to give the RBI Grade B Exam next year. I would be in my second year then. Kindly reply ! Thanks in advance

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      sholanki 3 years ago

      thank you for your help..but i could not understand one thing...i will be highly obiliged if you could tell me that after passing the exams candidates are recruited upto what grade and can they go further than that?and also can you say the total salary p.m.including everything?i will really be grateful...thanks......

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      karthik 3 years ago

      hello,

      pls tel, when the next RBI grade B exam will be conducted. thanks

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      Abhishek 4 years ago

      Also, one more thing I wanted to ask you is what are the profiles that are normally provided to Grade B officers? Few that I believe should be in RBI are macro-economic policies, research, FEMA administration, International Trade. Interest rates, Banking Regulations... Can you tell if the Grade B officers get to work in above profiles?

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      Abhishek 4 years ago

      Hi Gurpreet,

      I have heard from someone, RBI also provide better than decent accommodation for Grade B officers. However, I failed to find the same above. Can you throw any light on their policy on how they provide accommodation to the Grade B Officers? Also, you have mentioned their HRA component is 10% of Basic Pay. I think that is quite low (works out to Rs 2100). Normally it is 40%/50% of basic pay . Can you please check on that as well?

      And I sincerely thank you for explaining those details of RBI Salaries and Benefits.

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      kishore 4 years ago

      sir,

      whether leaving junior asst job in state govt. and joining as a PO a wise decision in the long run ?

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      Gurpreet Seehra 4 years ago from Chandigarh, India

      SBI PO or ITI ...??

      CANT SAY.

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      Gurpreet Seehra 4 years ago from Chandigarh, India

      @Rupali: Oe is counted as attempt.

      As far as NABARD IS concerned, it is definitely a go. NABARD job is civil srvice for bankers. Nabard has big offices in state capitals, I don't think they have rural locations.

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      Gurpreet Seehra 4 years ago from Chandigarh, India

      No, only central/state govt have gazzetted posts. Rbi and other banks don't have gazzetted paosts.

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      Gurpreet Seehra 4 years ago from Chandigarh, India

      I am currently working as inspector income tax at nagpur

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      Gurpreet Seehra 4 years ago from Chandigarh, India

      @Raju: hi, gross salary in rbi will be around the same as your current. In hand will be 5-8k less. However, your accommodation and travel expenses will be taken care of by the bank. So it will reduce the costs.

      Definitely, an iim mba and finance exp will be a sure shot reason to ask for additional increment.

      Career growth can be expected a little slower than private, however will be faster than other govt jpbs. There will be chances to serve in intl postings higher up in the career. Promoions to higher grade may take more than 6-7 years.

      A good book is dutt and sundharam, for mgmtnyou can read your mba basic books or ncert class xii. Most of the topics can be better read online..

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      Rupali Pandit 4 years ago

      Hello Gurpreet,

      I wanted to have small clarification from you, pl help out.

      1. As per latest Rbi notification of Grade B 1st phase is online exam OE....and for Gen category only 4 attempts for written exam....so is OE is a part of WE....if a Gen category candidate appears 4th time phase 1 only....can't he give next time?

      2. Is Nabard Grade B is advisable job if you are working in a public sector bank at officer level already? Is Nabard give postings at rural area only?

      Pl clarify....eagerly waiting. Thanking you in advance

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      ranjeet 4 years ago

      Gurpreet,where r u working now

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      Raju 4 years ago

      Hi Gurpreet,

      I am an MBA from a top 4 IIM, currently working in the financial sector. But I don't ike my job and ctc is also low (9 lacs). So I gave RBI grade B general exam for fun and have cleared round 1. Now I am a bit confused whether this grade B officer will be the right career move for me. I want a career in finance only. If you can clear a few queries I will be highly grateful:

      1) What will be the total salary per month ( including PF, graduity & other cash components that are due? I ask this as I have EMI s on education loan. My current in hand is 51 k per month.

      2) If I clear round 2, will it be prudent to ask for additional increments given my qualification?

      3) What is the typical career prospect ? What is the average time to get promoted to Grade C?

      4) How to prepare for the mains? Can you suggest a few books or online resources ?

      Thanks in advance

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      kamlesh yadav 4 years ago

      Hi Gurpreet

      I am an IT Graduate. I want know to the JOB Opportunities in RBI and other public sector. How can I appear for those exams.

      Thanks

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      Anusha K Murthy 4 years ago

      When can we expect the pre results?

      How much time will we get to prepare for mains after the pre results?

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      Amit 4 years ago

      when can we expect the pre results

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      Gurpreet Seehra 4 years ago from Chandigarh, India

      @akash : will be fine with 85% accuracy.

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      akash 4 years ago

      i solved 141. is it enough

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      Gurpreet Seehra 4 years ago from Chandigarh, India

      @Last_year_interview : Do not worry.The cutoff will be around 115. There wont be many with high marks.

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      Gurpreet Seehra 4 years ago from Chandigarh, India

      @akash : I did 144. Expecting the positive. How was yours?

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      Gurpreet Seehra 4 years ago from Chandigarh, India

      @Garvita : It is not defitine, there were no vacancies last yr. But I heard that from now on it will notify each yr. Lets see. Ga section is commonly economy related. Reading news papers and skimming RBI website content will be a lot.

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      Gurpreet Seehra 4 years ago from Chandigarh, India

      @Amit : I will ever join SBI by leaving my present job, but I wil not give a second thought if selected for RBI.