Anangsha PatraDeputy Manager – Editorial
RBI Grade B Salary 2024: The Reserve Bank of India offers a lucrative RBI Grade B salary to the post of Gr B (DR-General, DEPR & DSIM). The central bank not only offers a good salary, but the Grade B Officers recruited in RBI are also entitled to allowances and perks. In 2022, the salary of RBI Grade B was revised. After the revision, candidates selected through RBI Grade B 2024 exam will receive a gross salary of INR 1,08, 404 (Approximately). The basic RBI Grade B salary is INR 55,200 per month. The details related to the salary are mentioned in the RBI Grade B notification.
RBI provides security, respect, and a prestigious job profile. RBI also offers a plethora of growth opportunities and career. RBI Grade B Officer salary encourages aspirants to stay motivated to get a job in RBI. In this article, we have discussed RBI Grade B salary, pay scale, in-hand salary, job profile, and career growth.
Q: What perks are given to a Grade B Officer apart from the RBI Grade B Salary?
RBI Grade B Officers are entitled to the following perks and allowances: Back Accommodation Medical Allowance Leave Fare Concession Furnishing of Residence Miscellaneous Allowance (Fuel, Furniture, etc. ) The gross monthly emoluments of RBI Grade B is INR 1,08,404. This is including the perks and benefits offered to candidates. The allowances of RBI Grade B that candidates are entitled to along with the salary are given below:
- Dearness Allowance
- Local Allowance
- House Rent Allowance
- Family Allowance
- Grade Allowance
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Q: What is the career growth of an RBI Grade B Officer?
Upvote Q: What are the factors to become an RBI grade B officer?
Upvote RBI Grade B Salary
RBI Grade B officer is one of the most prestigious jobs in the country. Every year more than one lakh candidates appear for RBI Grade B exam. RBI offers a handsome pay package to the Officers. RBI Grade B salary package is around INR 14-16 lakh in metro cities such as Mumbai, Delhi, etc. Candidates are paid INR 55,200 per month as RBI Grade B salary. The pay scale is INR 55,200-2850(9)-80,850-EB-2850 (2)-86,550-3300(4)-99,750 (16 years). Candidates are eligible for Dearness Allowance, Local Allowance, House Rent Allowance, Family Allowance, and Grade Allowance. Initial monthly gross emoluments are INR 1,08,404 (approx). The House Allowance of 15 per cent of basic pay will be paid, if accommodation is not provided by the Bank.
Also Read:
RBI Grade B Application Form 2024
RBI Grade B Salary After 7th Pay Commission
The table below contains the revised salary structure of RBI Grade B 2024:
| Parameters | RBI Grade B Salary (In INR) (Previous) | RBI Grade B Salary (In INR) (Revised) |
|---|---|---|
| Basic pay | 35,150 | 55,200 |
| Payscale | 35150-1750 (9)-50900-EB-1750 (2)-54400-2000 (4)-62400 | 55200-2850(9)-80850-EB-2850 (2) - 86550-3300(4)-99750 (16 years) |
| Gross emoluments | 77, 208 | 1,08,404 |
RBI Grade B Salary: Know the Gross Deductions
The gross deductions from the RBI Grade B salary for different parameters are given below.
| Deductions | Amount |
|---|---|
| EE NPS Contribution Amount |
INR 6509 |
| Prof Tax-split period |
INR 200 |
| BF EE NPS Monthly Contribution |
INR 13,018 |
| House Rent Recovery |
INR 620 |
| Meal Coupon Deduction |
INR 400 |
| MAF |
INR 300 |
| RBI Officers Association |
INR 40 |
| Sports Club Membership |
INR 30 |
| Income Fax |
INR 5319 |
| Total Deductions |
INR 26,436 |
Q: What is RBI Grade B salary?
Upvote Q: What is the salary structure of RBI Grade B?
RBI Grade B salary structure is decided including several allowances, perks and benefits. The gross salary is INR 1,08,404 incluiding allowances, perks and benefits. The pay scale of RBI Grade B is INR 55,200-2850 (9)-80850-EB-2850 (2)-86550-3300 (4)-99750 (16 years). RBI Grade B Salary structure is given below.
| Parameters | RBI Grade B Salary (In INR) |
|---|---|
Basic Pay | 55,200 |
Grade Allowances | 6,800 |
Dearness Allowances | 23,144 |
Housing Allowance | 5273 |
CVPS Incentives | 827 |
Special Prerequisite Allowances | 1465 |
Special Allowances- Direct Recruit | 1800 |
Local Compensatory Allowances | 3664 |
Meal Allowance | 160 |
Gross Pay | 1,08,404 |
Note:
- For candidates having high academic educational qualifications, RBI at its own discretion considers granting up to four advance increments
- The bank, at its own discretion, shall consider requests for higher emoluments because of higher qualification/special experience at the interview stage only
- The number of increments will be a maximum of four
- RBI will not entertain any request received after the interview
Upvote Q: What is the pay scale of an RBI Grade B Officer?
Upvote RBI Grade B Salary: Important Points to remember
Some of the important points related to RBI Grade B 2024 are given below:
- In the case where there is a limited number of residential quarters, candidates can avail of residential accommodation on lease
- Candidates will be on probation for a period of two years. This can be extended up to a maximum period of four years
- There are reasonable prospects for promotion to higher grades
- Selected candidates are liable to be posted and transferred anywhere in India
Also Read:
RBI Grade B 2024 Preparation Tips
Perks Offered to RBI Grade B Officers
Candidates are offered the following perks:
- Bank's accommodation (subject to availability)
- Reimbursement of expenses for maintenance of vehicle for official purpose
- Newspaper
- Telephone charges
- Book Grant,
- 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)
- Loans and advances at concessional rates of interest for purchasing a house, vehicle, education, consumer articles, personal computer, etc.
- Candidates will be enrolled under the defined contribution New Pension Scheme (NPS) in addition to the benefit of Gratuity
Q: Which career path is better RBI Grade B officer or a MBA?
Upvote Q: What is the number of increments given to RBI Grade B Officers?
Upvote Q: What are the factors to become an RBI grade B officer?
Upvote RBI Grade B Job Profile
After training, the departments that are allotted to candidates are financial markets, banking supervision, banking regulation, currency-issuing, public debt office, foreign exchange, HRD, etc. RBI Grade B job profile vary in different departments. Grade B Officers are involved in planning and policy decisions.
What is increment offered to RBI Grade B Officers?
The increment given to candidates selected to the post of Grade B Officers is summarised below:
- The basic pay is INR 55,200
- Candidates receive an increment of INR 2850 upto nine years
- After nine years, the basic pay increases to 80,850. The increment for the next two years is INR 2850
- Further increment of 3300 for the next four years, the basic pay increases to 86,550
- After 16 years, the maximum basic pay will be INR 99,750
Also Read:
Career Growth of RBI Grade B Officers
The job profile of RBI Grade B Officer includes the proper circulation of currency, controlling the supply of liquidity in the market, and most importantly managing government and central bank accounts. Candidates are eligible for promotions within the organisation. The posts to which candidates are promoted are given below:
- Assistant Manager
- Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Chief General Manager
- Executive Director
- Deputy Governor
Q: How can RBI Grade B get a promotion?
Upvote Q: What is the job profile of RBI Grade B Officer?
Upvote Q: What is the life of a RBI B grade officer?
Upvote RBI Grade B Selection Process
RBI Grade B selection process comprises prelims exam, mains exam, and interview. The marks obtained in the prelims exam are not counted for the final merit list. Candidates qualifying the prelims exam are called for the mains exam. Those who qualify the mains exam are called for interview as per RBI Grade B selection process. The final merit list is prepared based on the mains exam and interview.
RBI Grade B Salary 2024 FAQs
Candidates can check below RBI Grade B salary FAQs.
Q: What is RBI Grade B selection process?
Upvote Q: How can I prepare for RBI grade B officers exam?
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Anything you would want to ask experts?Answered 2 months ago
RBI Grade B Phase 1 result was announced on September 20, 2024 by RBI. The result was made available in PDF form and comprises the roll numbers of qualified candidates. The scorecard and cut off marks are released few days after the declaration of the result. Candidates can download their scorecards
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Contributor-Level 10
When RBI Grade B Phase 1 result was announced?