There is a saying that an employee with high potential is a worker who has the potential to become great. RBI knows that very well. That is the reason why RBI looks for potential officers through the RBI Grade B Exam and offers one of the best salary packages in the country. It promises not just a well-paid salary but a highly respectable position, allowances, and assured future through its pension plan.
In this article, we’ll focus on all the details regarding RBI Grade B PayScale, like:
- In-hand Salary
- Perks, Increments
- Allowances and benefits
Rule of the Game
Reserve Bank of India (RBI) has released a total of 320 vacancies for various posts this year. Grade B 2021 exam consists of three phases for the selection of candidates, namely, Phase-I, Phase-II, and the Interview. Candidates who will get selected after Phase-I & Phase-II of the exam will be called for the final interview process.
A Golden Opportunity
This is going to be a golden opportunity to be a part of the public sector and enjoy the perks offered by it. Read on to find out how you can get lucky after becoming an RBI Grade B Officer.
RBI Grade B Salary Structure
As per the latest notification of RBI, the starting salary of RBI Grade B Salary in hand will be Rs 35,150/-. Given below are the main details of the RBI Grade B Salary:
|RBI Grade B Basic Pay||Rs 35,150/-|
|RBI Grade B Pay Scale||35150 – 1750(9)– 50900-EB-1750(2)-54400-2000(4)-624000|
|RBI Grade B Grade Pay||Not applicable|
|RBI Grade B Salary: NET Salary Including All Allowances||Rs 67,933/-|
RBI Grade B Salary Allowances
Apart from the Basic Salary, RBI also promises several emoluments. These emoluments include:
- Dearness Allowance
- House Rent Allowance
- Family Allowance
- Telephone Allowance
- Conveyance Allowance
Take a look at the table to get more details regarding the allowances RBI offers to the Grade B officers:
|Allowances & Coupon||Details|
|Dearness Allowance (DA)||RBI Grade B Officer can get DA of 113% of the basic salary.|
|HRA Allowance||RBI Grade B Officer can get a 2BHK/3BHK flat as RBI Grade B employees. In case, the employees are not allocated flats, then they can claim up to Rs 70,000 as rent allowance.|
|Education Allowance||RBI Grade B Officer can get Rs. 4000/- under education allowance every month.|
|Fuel Allowance||RBI Grade B officer can claim 150 liters of fuel per month.|
|Medical Allowance||RBI Grade B can get Medical allowances up to 4000 Rupees. These allowances are also valid for the dependents, like immediate family members, etc. of the employees.|
|Maid Allowance||RBI Grade B officer can get Rs 3000/- under the maid allowance.|
|Mobile Allowance||RBI Grade B officer can claim up to Rs 1500/- as a mobile allowance.|
|Sodexo Coupons||RBI provides the Officers with Sodexo coupons worth Rs 2000/- which can be spent on food/groceries.|
|Leave Fare Concession Travel (LFC)||RBI Grade B officer can get Rs100000 under LFC allowance. This can be availed once in two years, by the employee and his dependents.|
|Briefcase allowance||RBI Grade B Officer can get Rs.7000 under briefcase allowance. This amount can be reimbursed once every three years.|
|Spectacles allowances||RBI Grade B can claim Spectacles allowance of Rs 7000/- (Can be claimed by either the RBI Grade B officer or his/her spouse).|
At present, initial monthly Gross emoluments are approximately Rs. 75,831/-(approx.). For such allowances and in-hand salary, you must prepare for the exam with proper knowledge of concepts as per the latest syllabus prescribed by RBI. Hence, you must equip yourself with RBI Grade B notes and take Mock-Test as much as you can.
RBI Grade B Salary Increments 2021
In all, an Officer selected through RBI Grade B 2021 Exam will be liable to receive an annual salary range of 12-14 Lacs. They will be given not just the CTC, but many other emoluments & allowances.
As per the official website of RBI, the PayScale for the RBI Grade B Officer is Rs. 35,150-1750(9)-50,900-EB-1750(2)-5,4400-2000(4)-62,400. To explain it further:
- They can get an Initial Basic Pay of Rs 35,150, with a yearly increment of Rs 1,750 for 9 years
- They can get Rs 50,900 and a yearly increment of Rs 1,750 for the next two years in the executive band
- They can get Rs 54,400 and a yearly increment of Rs 2,000 for the next four years
- They can get Rs 62,400, which is the maximum Basic Pay
Thus, the RBI Grade B Officer can fetch a basic salary of Rs. 62,400/- (Maximum). This is when the employee does not take any promotion.
RBI Grade B Promotion
One more benefit of becoming an RBI Grade B Officer is that, as the officer gets promoted and goes up the RBI ladder his or her salary increases. So, the candidates employed as RBI Grade B Officers can get promoted as:
- Assistant Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Chief General Manager
- Principal Chief General Manager
- Executive Director
- Deputy Governor
As the deadline for completing the syllabus is getting shorter and shorter with every passing day, you need to get through the syllabus pretty swiftly and attempt mock tests, as much as you can, to speed up your preparation. Be confident. Make short notes in a diary for a better last week’s revision. Smart work combined with hard work always gets paid!
Best of luck for the upcoming exam!