Jobs in Reserve Bank Of India (RBI)

The Reserve Bank Of India is India’s financial institution which controls the issue and supply of Indian rupee. RBI is the regulator of the entire banking system in India. It is the leader of the banking industry and therefore the securities industry. It regulates finances and credit within the country.

Working in an exceeding bank of such high supremacy, where the environment is favorable for achieving excellence, where the advantages of a Government Jobs are up-leveled than all other banks, is an accomplishment in itself, who wouldn’t aspire to work with them and for them. But still, thinking about how to get there?

Here mentioned are two posts that you need to know about that will provide you the entry in RBI.

Every year RBI releases vacancy for these posts for various aspirants. Below mentioned is all that you need to know about them.

GRADE B OFFICER

Role of grade B officer

As per the roles and responsibilities grade B officer has to do the following tasks

• -Design guidelines for the public sector banks
• -Manage government and central bank accounts
• -Assisting RBI in the role of being a banker to the banks
• -Proper eyeing on the circulation of coins and currencies

Eligibility

• The candidate needs to graduate with at least 60% marks(General/OBC) or 50% marks (SC/ST) are considered eligible.
• Candidate must have attained the age of 21. Candidates between 21-30 are eligible in the general category. Age relaxation criteria are valid for reserved classes and PWD candidates. OBC ( 3years), SC/ST ( 5years), PWD GEN ( 10 years), PWD OBC ( 13years), PWD ST/SC ( 15years).

Exam pattern & Selection process

Since RBI provides immense benefits to its employees it is obvious that the selection process would be tougher than all other banking exams. The process involves three steps; The preliminary exam, the mains exam, and the interview round.

Preliminary exam

If the candidate meets the eligibility criteria then he/she is eligible for the preliminary exam. The exam is of 200 marks and is of 2 hours duration. The exam consists of questions from subjects like English Language, Numerical Ability, Reasoning Ability, and General Awareness. The exam is objective type and 0.25marks are deducted for each wrong answer. In order to qualify for the mains, the candidate needs to score above the cut-off marks.

Mains exam

After passing the preliminary exam, the candidate is eligible for the mains exam. The mains exam is of 300 marks with 4hour30minutes duration. The exam consists of three papers; Paper1- Economic and social issues (objective) Paper2- English writing skills (descriptive) and Paper3- Finance and management (objective). 0.25 marks are deducted for each wrong answer and in order to get selected for the interview round the candidate needs to score above the cut-off marks.

Interview round

After passing the mains exam, the candidate is eligible for the Interview round. The final selection is based on the performance of the candidate in the interview round.

Number of attempts

Candidate from the General category cannot appear for more than 6 attempts. However no as such limitations for the other categories.

Benefits and Remuneration

In RBI, with a Basic salary of INR 35,150 per month and a gross salary of around INR 67,000 per month, it also offers many more benefits to its employees such as Residence Allowance, Medical Allowance, Travel Allowance, etc.

Promotions

Being a Grade B Officer in Reserve Bank of India, you’ll have a good chance to reach the level of Deputy Governor until the time of your retirement. With the presence of Promotional Exams, you will be given every chance to attain higher positions.

RESEARCH POSITION IN GRADE B (for PhD. holders)

RBI conducts several interviews throughout the year for appointing various Ph.D. candidates and experienced professionals. Those who completed their Ph.D. in the related streams or are working as experienced professionals in any department can get a job in RBI based on their qualifications and experience.

Role of the researcher’s

The PhD. candidate is responsible to do research works like:-

• -Research in monetary economics
• -Central banking
• -Corporate Finance
• -Financial Markets
• -Financial Regulation
• -Financial Stability
• -Household Finance
• -Liquidity and Payment Systems
• -And research to assist RBI in economic policy formulation.

Eligibility

• Candidates who have completed their Ph.D. from reputed universities in Economics or Finance are eligible to get a job in the Reserve Bank of India.
• The applicant should be below 34 years of age. Age relaxation criteria are valid for reserved categories OBC (3years), ST/SC (5years), PWD GEN (10years), PWD OBC(10years), PWD ST/SC(10years)

Selection process

To get recruited on Research Positions, Ph.D. candidates will have to go through interviews conducted by the Screening Committee of the Reserve Bank of India.

Benefits and Remuneration

With a basic salary of INR 42,150 per month and a gross salary of INR 82,745 per month, the Research position is the highest paid job in RBI. Apart from the salary benefits, the researcher will also be eligible for Dearness Allowance, Local Compensatory Allowance, House Rent Allowance, Special Allowance, and Grade Allowance offered by the Organization.

A job with such salary and benefits is surely a dream for many candidates who want to get a job in RBI India after completing their Ph.D. in Economics or Finance.