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’s personal growth and subsequently leading 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 2021 Notification is out announcing 322 vacancies in total. Let’s go on and analyse all the components of the RBI Grade B Salary 2021 along with Job Profile, Career Prospects, Perks, and Allowances that RBI extends to its Grade B officers.
- RBI Grade B Salary 2021
- 1. RBI Grade B Salary 2021 – Details
- 2. RBI Grade B Officer Salary Increments
- 3. RBI Grade B Salary Slip
- 4. RBI Grade B Officer Benefits, Perks, and Allowances
- 5. RBI Grade B Salary – Perquisites
- 6. RBI Grade B Career Prospects 2021
- 7. RBI Grade B Future Avenues 2021 (Career Path/Career Progression)
- 8. Various Departments in RBI
- 9. RBI Grade B FAQs
- 10. RBI Grade B Online Course 2021 by Oliveboard
RBI Grade B Salary 2021
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 of the country. RBI conducts the 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 2021” will give you enough motivation to apply for the post and study rigorously for it. So, read along.
1. RBI Grade B Salary 2021 – Details
As per 2021 Official Notification, RBI Grade B Salary – Basic Pay is Rs 35,150/- per month on the scale of Rs. 35150-1750 (9)-50900-EB-1750 (2)-54400-2000 (4)-62400 and the Gross Monthly Emoluments are Rs 83254/- approximately.
RBI Grade B Salary 2021 is Rs 83,254/- (approx).
|RBI Grade B Salary|
|RBI Grade B Salary – Basic Pay||Rs 35,150/- p.m.|
|RBI Grade B Salary – Scale||Rs. 35150-1750(9)-50900-EB-1750 (2) – 54400-2000(4)-62400 (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 2021 – Gross Monthly Emoluments||Rs 83,254/- (approx)|
Note: The House Allowance of 15% of Basic Pay will be paid, if accommodation is not provided by the Bank.
2. RBI Grade B Officer Salary Increments
The new pay scale of RBI Grade-B Officers is 35150-1750(9)-50900-EB-1750(2)-54400-2000(4)-62400.
This means, your initial basic pay will be Rs.35,150 and you will receive an increment of Rs.1750 for up to 9 years of your service.
After the tenure of 9 years is over, your basic pay will rise to Rs.50,900 and you will again receive an increment of Rs.1750 for the next 2 years.
Further increment of Rs.2000 for the next 4 years will finally leave you with basic pay of Rs.62,400.
3. RBI Grade B Salary Slip
3.1. RBI Grade B In Hand Salary 2021
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.
|Allowances, Perks & Benefits|
|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.
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 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, Vehicle, Education, Consumer Articles, Personal Computer, 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. Facility for securing residential accommodation on lease, however, exists at all centers.
6. RBI Grade B Career Prospects 2021
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 qualification/ 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 2021 (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).
Principal Chief General Manager
Chief 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 CGM level Officer in RBI.
3. A few officers who perform extraordinarily could also get a chance to go on deputation on foreign institutions like IMF, World Bank, foreign country’s central bank, Finance Ministry, Home Ministry, etc.
8. Various Departments in RBI
This is the list of departments in which an RBI Grade B officer gets a chance to work. Read top know better.
|List of Department Reserve Bank of India|
|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|
9. RBI Grade B FAQs
9.1. What is the current in-hand salary of an RBI Grade B officer (Manager)?
At present, the gross monthly emoluments as per the notification 2021 are Rs 83,254/- (approx).
It might vary as per the place of posting and deductions (Tax cut, PF contribution, etc).
9.2. How can I join RBI?
9.3. Is RBI Grade B Tough?
It would not be tough if you follow a structured time table for your studies and get the right guidance and study material for your preparation.
This is all from us in this blog of RBI Grade B Salary 2021. We hope that you like the information provided here.
Owing to such a great Job Profile, Career Prospects, Future Avenues in addition to an attractive pay scale and countless other benefits, lakhs of candidates appear for RBI Grade-B Officer exams every year.
To get through each phase of the examination, your preparation needs to be top-notch. To help you do just that we have come up with an online course covering all aspects of your RBI Grade B Preparation.
10. RBI Grade B Online Course 2021 by Oliveboard
Do join for your RBI Grade B 2021 exhaustive preparation.
Oliveboard’s RBI Grade B Online Course 2021 will be your one-stop destination for all your preparation needs
1. Course Details
RBI Grade B Cracker is designed to cover the complete syllabus for the 3 most important subjects: GA for Phase 1 and Objective + Descriptive portions of ESI + F&M for Phase 2 exam.
Not just that, it also includes Mock Tests & Live Strategy Sessions for English, Quant & Reasoning for Phase 1. The course aims to complete your preparation in time for the release of the official notification.
RBI Grade B 2021
Crash Course Offerings
Video Lessons & Study Notes
*We will get your ESI & FM descriptive answers evaluated!
1.2. How to enroll for the RBI Grade B Online Course 2021?
Sign up or log in using the link given below. You will be redirected to the payments page. Read the course offerings and subscribe to RBI Grade B 2021 Crash Course.
Now that you are aware of the RBI Grade B Online Classes, why wait?
Get Started with RBI Grade B 2021 Online Course comprising Video Lessons, Detailed Study Notes & All-India Mock Tests for Phase-1 & Phase-2.
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