Employee motivation is one of the most important factors in any organization. Motivated employees create a positive working environment, thereby giving their best performances. This inevitably leads to employee personal development and subsequently leads to the company’s overall growth. It is widely believed that employee compensation in the form of a salary is the best way to maintain a motivated workforce. Well, the Reserve Bank of India knows all this and much more! The compensation package that it offers to its employees is one best in the banking industry.
RBI Grade B Notification clearly mentions the gross salary given to the Grade B officers. Let’s go on and analyze all the components of the RBI Grade B Salary 2023 along with the job profile, career prospects, perks, and allowances that RBI extends to its Grade B officers.
Table of Contents
- Latest Salary Slip for RBI Grade B 2023
- RBI Grade B Salary 2023
- FREE Ebooks on General Awareness, ESI, FM & Miscellaneous Topics for all Regulatory Exams: IRDAI, RBI, NABARD, SIDBI, SEBI, IFSCA – Download
- Download FREE Ebooks on Government Schemes for all Regulatory Exams: IRDAI, RBI, NABARD, SIDBI, SEBI, IFSCA
- Download FREE Ebooks on QRE (Quantitative Aptitude, Reasoning, English) for all Regulatory Exams: IRDAI, RBI, NABARD, SIDBI, SEBI, IFSCA
- Frequently Asked Questions (FAQ)
Latest Salary Slip for RBI Grade B 2023
Just click on the image below to get the details on the Latest Salary Slip for RBI Grade B 2023.
RBI Grade B Salary 2023
The Reserve Bank of India (RBI), which is also known as the central bank authority of India (Established on 1st April 1935), is one of the most reputable institutions in the country. RBI conducts Direct Recruitment for the post of RBI Grade B Officer– which comes with a high-esteemed job profile, excellent pay scale, and numerous other perks and benefits.
Recruitment of candidates for Grade B posts of the RBI occurs through an online examination conducted in three phases viz. Phase 1, Phase 2 & Interviews. Candidates who are looking forward to the Grade B post must be aware of the Current Pay Scale, Perks & Allowances, Career Prospects & RBI Grade B Job Profile. Reading the blog “RBI Grade B Salary 2023” will give you enough motivation to apply for the post and study rigorously for it. So, read along.
Have a Look at the RBI Grade B 2023 Complete Course
1. RBI Grade B Salary 2023 – Complete Details
RBI Grade B Salary – Basic Pay is Rs 55,200/ per month on the scale of Rs. 55200-2850(9)-80850-EB-2850 (2) – 86550-3300(4)-99750 (16 years) and the Gross Monthly Emoluments are Rs 1,08,404/- approximately.
The RBI Grade B in-hand salary is Rs 80,000/- (approximately).
| RBI Grade B Salary – Basic Pay | Rs 55,200/-p.m. |
| RBI Grade B Salary – Scale | Rs. 55200-2850(9)-80850-EB-2850 (2) – 86550-3300(4)-99750 (16 years) |
| RBI Grade B Salary – Allowances Given | i. Dearness Allowance, ii. Local allowance, iii. House Rent Allowance, iv. Family allowance and v. Grade Allowance |
| RBI Grade B Salary 2022 – Gross Monthly Emoluments | Rs 1,08,404/- approximately |
2. RBI Grade B Officer Salary Increments
The new pay scale for RBI Grade-B Officers is Rs. 55200-2850(9)-80850-EB-2850 (2) – 86550-3300(4)-99750 (16 years)
This means, your initial basic pay will be Rs 55,200/- per month and you will receive an increment of Rs. 2850 for up to 9 years of your service.
After the tenure of 9 years is over, your basic pay will rise to Rs. 80,850 per month and you will again receive an increment of Rs. 2850 for the next 2 years.
After the tenure of 2 years is over, your basic pay will rise to Rs. 86,550 per month and you will again receive an increment of Rs. 3300 for the next 4 years.
Your basic pay would be 99750 for the next 16 years.
3. RBI Grade B Salary Slip
3.1. RBI Grade B In Hand Salary
The RBI Grade B in-hand salary is Rs 80,000/- (approximately).
4. RBI Grade B Officer Benefits, Perks, and Allowances
Apart from the basic pay, RBI Officers are entitled to receive numerous emoluments like Dearness Allowance, Family Allowance, House Rent Allowance, Conveyance Allowance, Telephone Allowance, Medical Allowance, etc.
| Dearness Allowance (D.A.) | i. 113% of the basic pay that previously accounted for D.A. has now been revised to 125%. |
| House Rent Allowance (H.R.A.) | i. H.R.A. is provided to those employees who are posted out of their hometowns. ii. Accommodation is also provided to RBI employees. Usually one gets a 2 BHK flat. iii. If an employee has not been allotted a flat, RBI offers an estimated amount of Rs 70,000 for accommodation in metro cities such as Mumbai. |
| Conveyance Allowance (C.A.) | i. Based on the declaration provided by you, C.A. is paid. For instance, the additional in-hand amount in Mumbai is Rs 14,000. |
| Medical Allowance (M.A.) | i. Medical Allowance worth Rs 4500 is offered to RBI employees as well as to their dependents. ii. Reimbursement of medical expenses for hospitalization and OPD treatment along with free dispensary facilities are available. |
| Education Allowance | i. Selected RBI Officers get Education Allowance for their children. ii. The annual reimbursement amount accounts for approximately Rs.4000 per month. |
| Leave Fare Concession (LFC) & Leave Travel Concession (LTC) | i. LFC/LTC is offered to the employee and his/her family once every two years. ii. RBI provides Rs 10,7000 (approx.) per head for this purpose. |
| Bank Loan Facility | i. As per the salary revision, RBI Officers can now avail of loans at cheaper rates for a vehicle, housing, computers, etc. |
5. RBI Grade B Salary – Perquisites
i. Bank’s accommodation, subject to availability, reimbursement of expenses for maintenance of vehicle for official purpose, newspaper, telephone charges, book grant, allowance for furnishing of residence, etc. as per eligibility.
ii. Free dispensary facility besides reimbursement of medical expenses for OPD treatment/hospitalization as per eligibility. Interest-free festival advance, Leave Fare Concession (once in two years for self, spouse, and eligible dependents).
iii. Loans and Advances at concessional rates of interest for Housing, vehicles, Education, Consumer Articles, Personal computers, etc. Selected candidates will be governed by ‘the defined contribution New Pension Scheme (NPS)’, in addition to the benefit of Gratuity.
iv. At certain centers, a limited number of residential quarters are available. A facility for securing residential accommodation on lease, however, exists at all centers.
6. RBI Grade B Career Prospects
1. The initial appointment will be on probation for two years.
2. At Bank’s discretion, the probationary period may be extended up to a maximum period of four years.
3. Selected candidates are liable to be posted and transferred anywhere in India.
4. There are reasonable prospects for promotion to higher grades.
5. For candidates possessing very high academic or professional qualifications/ experience of significant value to the Bank, the Bank may, at its sole discretion, consider granting up to four advance increments.
6. The Board, at its sole discretion, may consider requests for higher emoluments on account of higher qualification/special experience of value to the Bank at the interview stage only.
7. Such information may be furnished in the Bio-data Form in the appropriate column. The number of maximum increments will be four. The Board/Bank will not entertain any request received after the interview.
7. RBI Grade B Future Avenues (Career Path/Career Progression)
1. If one continues to work in RBI with sincerity & dedication, then an RBI Grade B Officer can reach up to CGM level post. Few Grade B officers have also managed to reach Executive Director (ED) positions and very few up to Deputy Governors (DG).
Deputy Governor
⇑
Executive Director
⇑
Principal Chief General Manager
⇑
Chief General Manager
⇑
General Manager
⇑
Deputy General Manager
⇑
Asst. General Manager
⇑
Manager (Grade B Officer)
2. On the Boards of every Public Sector Bank, there is an RBI representative who is a CGM-level Officer in RBI.
3. A few officers who perform extraordinarily could also get a chance to go on deputation to foreign institutions like IMF, World Bank, foreign country’s central bank, Finance Ministry, Home Ministry, etc.
FREE Ebooks on General Awareness, ESI, FM & Miscellaneous Topics for all Regulatory Exams: IRDAI, RBI, NABARD, SIDBI, SEBI, IFSCA – Download
The syllabus of all the regulatory exams is somewhat similar, so practicing and learning from other exam-specific ebooks are also beneficial in the preparation. Here, we have compiled all the latest ebooks that will help you ace the exam.
Top 50 Banking & Finance CA for all Regulatory Exams (March-April 2023)
RBI Bolt March 2023 Summary FREE Ebook
Top 100 PIB Current Affairs MCQs for RBI Grade B 2023: Part 1 – Download FREE
Top 100 PIB Current Affairs MCQs for RBI Grade B 2023: Part 2 – Download FREE
FREE Ebook on Introduction to Management
FREE Ebook on Indian Agriculture
Insurance Sector in India FREE Ebook
International Economic Institutions FREE Ebook
Top 50 Appointment News for all Regulatory Exams (March-April 2023)
Download FREE Ebooks on Government Schemes for all Regulatory Exams: IRDAI, RBI, NABARD, SIDBI, SEBI, IFSCA
FREE Ebook on Top 10 Govt Schemes from Ministry of Agriculture: Part 1 – Download
FREE Ebook on Top 10 Govt Schemes from Ministry of Agriculture: Part 2 – Download
Download Top 5 Government Schemes From the Ministry of Education
Download the Free Ebook on Top 6 Govt. Schemes from the Ministry of Finance
Ebook on Top 5 Initiatives of NITI Aayog – Download FREE
Download FREE Ebooks on QRE (Quantitative Aptitude, Reasoning, English) for all Regulatory Exams: IRDAI, RBI, NABARD, SIDBI, SEBI, IFSCA
Download all the ebooks for FREE and enhance your preparation.
Ebooks on Quantitative Aptitude
Top 25 Number Series Questions for RBI Grade B 2023 – Download FREE
Ebooks on Reasoning
Top 25 Puzzle Questions for RBI Grade B 2023: Download FREE
Top 25 Syllogism Questions for RBI Grade B 2023: Download FREE
Ebooks on the English Language
FREE Ebook on Top 25 Subject Verb Agreement Questions for RBI Grade B 2023: Download
Ebook on Top 20 Para Jumble Questions for RBI Grade B 2023: Download FREE
Top 100 Idioms & Phrases for RBI Grade B 2023: Download FREE Ebook
Top 135 One Word Substitutions for RBI Grade B 2023: Download FREE Ebook
8. Various Departments in RBI
This is the list of departments in which an RBI Grade B officer gets a chance to work. Read to know better.
| 1. Central Vigilance Cell | 18. Department of Statistics and Information Management |
| 2. Consumer Education and Protection Department | 19. Enforcement Department |
| 3. Corporate Strategy and Budget Department | 20. Financial Inclusion and Development Department |
| 4. Department of Banking Regulation | 21. Financial Markets Operation Department |
| 5. Department of Banking Supervision | 22. Financial Markets Regulation Department |
| 6. Department of Communication | 23. Financial Stability Unit |
| 7. Department of Cooperative Bank Regulation | 24. Foreign Exchange Department |
| 8. Department of Cooperative Bank Supervision | 25. Human Resource Management Department |
| 9. Department of Corporate Services | 26. Inspection Department |
| 10. Department of Currency Management | 27. Internal Debt Management Department |
| 11. Department of Economic and Policy Research | 28. International Department |
| 12. Department of External Investments and Operations | 29. Legal Department |
| 13. Department of Government and Bank Accounts | 30. Monetary Policy Department |
| 14. Department of Information Technology | 31. Premises Department |
| 15. Department of Non-Banking Regulation | 32. Rajbhasha Department |
| 16. Department of Non-Banking Supervision | 33. Risk Monitoring Department |
| 17. Department of Payment and Settlement Systems | 34. Secretary’s Department |
Check out the following blogs for detailed RBI Grade B Preparation Tips & Strategies by our toppers:
- RBI Grade B Topper Strategy by Nikhil Bharate
- RBI Grade B Topper Strategy by Aneesh J
- RBI Grade B Topper Strategy by Vinay Kumar
- RBI Grade B Topper Strategy by Bijapur Pallavi
- RBI Grade B Topper Strategy by Saurabh Gupta
- RBI Grade B Topper Strategy by Veerella Ravichandra
- RBI Grade B Topper Strategy by Samyak Bhandari
8. RBI Grade B Officer Posting & Job Profile
Candidates who successfully pass all three phases of the examination (Prelims, Mains, and Interview) are required to undergo training for the first 15 weeks. After the training period, the employees will be on a 2-year probation period (which can extend up to 4 years). During this time, employees are allotted to various departments. The duties and responsibilities of an RBI Officer involve:
- Issuing and circulating currency to the nationalized banks
- Ensuring the smooth functioning of the financial markets
- Managing Central and Govt. bank accounts
Frequently Asked Questions (FAQ)
A. The gross monthly emoluments of an RBI Gr. B officer is Rs 1,08,404/- approximately. The RBI Grade B in-hand salary is Rs 80,000/- (approximately).
A. The basic pay of an RBI Grade B officer is Rs 55,200/ per month on a scale of Rs. 55200-2850(9)-80850-EB-2850 (2) – 86550-3300(4)-99750 (16 years).
A. The probation period is of 2 years. The officers are given hands-on training during these two years and at the end of two years, they are intimated of having completed their probation period successfully. FYI nobody gets disqualified.
A. The RBI Grade B in-hand salary is Rs 80,000/- (approximately) after all the deductions.
A. Yes, RBI Grade B Salary is high as compared to various other profiles.
This is all from us in this blog of RBI Grade B Salary. We hope that you like the information provided here.
Get Daily FREE Material for RBI Grade B, NABARD Grade A, SEBI Grade A, IFSCA Grade A, and SIDBI Grade A, IRDAI Assistant Manager- Join Oliveboard’s Regulatory Exam Telegram Channel.
Do not forget to check out all the videos for RBI Grade B, NABARD Grade A, SEBI Grade A, IFSCA Grade A, and SIDBI Grade A, IRDAI Assistant Manager- Subscribe to Oliveboard’s Regulatory Exam Youtube Channel
DOWNLOAD THE RBI, NABARD, SEBI Prep App FOR ON-THE-GO EXAM PREPARATION
The app provides comprehensive study material in form of online courses to ace these examinations.
The study material ranges from online LIVE classes, video lectures, study notes, revision sessions, past year papers, topic tests, the objective plus descriptive mock tests, mock interviews, and much more.
List of Exams
1) RBI Grade B Generalist Posts
2) SEBI Grade A Generalist Posts
3) SEBI Grade A IT Officer Posts
4) NABARD Grade A Generalist Posts
5) NABARD Grade A IT Officer Posts
6) NABARD Grade A Agriculture Officer Posts
7) NABARD Grade B Posts
8) SIDBI Grade A Officer Posts
9) FSSAI Recruitment – For Technical officers, Food Safety Officers, and Assistants
Get free video lessons, mock tests, and GK tests to evaluate course content before signing up!
- SSC JHT Eligibility Criteria 2023, Know Age Limit, Qualification
- THDC JET Recruitment 2023 Notification Out for 181 Posts
- SSC JE Exam Date 2023, Know the Important Dates
- TN TRB BEO Syllabus 2023 and Exam Pattern, Check Full Details
- SSC JHT Syllabus 2023, Know Topics and Exam Pattern
Connect with us on
I have been a Government Job aspirant myself but writing was always my passion. Since 2021, I have been writing various blogs on several exams such as Banking, SSC, State PSCs, etc. The ultimate motive is to provide correct and detailed information that the user needs in one place. Apart from writing and marketing, I love to cook.
Oliveboard Live Courses & Mock Test Series