Grade - B Officer
Reserve Bank of India (RBI)
Recruitment Process
Details
Reserve Bank of India is hiring for the position of Grade - B officer!
About:
The Reserve Bank of India (RBI) has shared its annual Grade B Notification 2023, announcing 291 vacancies for Grade B officers under General, Department of Economic & Policy Research (DEPR), and Department for Statistics and Information Management (DSIM) posts.
RBI is India’s central bank and regulatory body and is a coveted organization to work for, offering individuals a chance to impact the way the country’s economy functions. Consequently, RBI receives thousands of applications every year and the Grade B examination is naturally, quite competitive.
For this year, RBI has announced the following vacancies:
- Officers in Grade B (DR) General PY-2023: 222
- Officers in Grade B (DR) DEPR PY-2023: 38
- Officers in Grade B (DR) DSIM PY-2023: 31
Requirements:
- Applicants in the general category aged between 21 to 30 can apply for the Grade B Exam. Applicants from the SC/ST category, OBC category and Physically Handicapped category receive a relaxation of 5, 3 and 10 years, respectively. Applicants holding Ph.D or M.Phil. qualifications also receive a relaxation of 4 and 2 years, respectively.
- Additionally, applicants need to be Indian citizens or a subject of Nepal or Bhutan or a Tibetan Refugee who came to India before January 1, 1962, and intends to permanently settle in India.
- A person of Indian origin migrated from Pakistan, Burma, Sri Lanka, East African countries of Kenya, the United Republic of Tanzania (formerly Tanganyika and Zanzibar), Uganda, Zambia, Malawi, Zaire, Ethiopia and Vietnam with the intention of permanently settling in India is also eligible to apply
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Posts |
Minimum Educational Qualifications |
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Officers in Grade 'B' (DR) - (General) |
Graduation in any discipline /Equivalent technical or professional qualification with minimum 60% marks (50% for SC/ST/PwBD applicants) or Post-Graduation in any discipline / Equivalent technical or professional qualification with minimum 55% marks (pass marks for SC/ST/PwBD applicants) in aggregate of all semesters / years. Note: Graduation Level: Any such course from a recognised University / Institute that is taken after Class XII and is at least of 3 years’ duration/ candidates possessing professional or technical qualifications which are recognised by the Government as equivalent to professional or technical graduation will be eligible for admission to the examination, subject to obtaining minimum marks prescribed above. Post-Graduation Level: Any such course from a recognised University / Institute that is taken after Graduation and is at least of 2 years’ duration / recognised by the Government as equivalent to professional or technical Post-graduation will be eligible for admission to the examination, subject to obtaining minimum marks prescribed above. |
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Officers in Grade 'B' (DR) - DEPR |
• Essential: a. A Master's Degree in Economics (or any other master's degree where "Economics" is the principal constituent* of the curriculum/syllabus, namely MA / MSc in Quantitative Economics, Mathematical Economics, Financial Economics, Business Economics, Agricultural Economics, Industrial Economics) OR b. A Master's Degree in Finance (or any other master's degree where "Finance" is theprincipal constituent* of the curriculum / syllabus, namely MA / MSc in Quantitative Finance, Mathematical Finance, Quantitative Techniques, International Finance, Business Finance, Banking and Trade Finance, International and Trade Finance, Project and Infrastructure Finance, Agri Business Finance) For a) and b) above, minimum 55% marks or an equivalent grade is required in aggregate of all semesters / years from a recognized Indian or foreign University / Institute. * "Principal constituent" with respect to syllabus / curriculum means half or more of the total courses / electives / credits must be in Economics or Finance. Note I: For SC, ST and PwBD candidates, the minimum marks required in Master's Degree as in items (a) and (b) above is 50% marks or an equivalent grade in aggregate of all semesters / years. Desirable: A Doctorate Degree in Economics, or research or teaching experience in economics, or publication in the field/area of Economics in standard journals. |
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Officers in Grade 'B' (DR) - DSIM |
Essential: a. A Master's Degree in Statistics/ Mathematical Statistics/ Mathematical Economics/ Econometrics/ Statistics & Informatics/ Applied Statistics & Informatics with a minimum of 55% marks or equivalent grade in aggregate of all semesters / years; OR b. Master's Degree in Mathematics with a minimum of 55% marks or an equivalent grade in aggregate of all semesters / years and one year postgraduate diploma in Statistics or related subjects from an Institute of repute; OR c. Master’s degree course in Data Science/ Artificial Intelligence/ Machine Learning/ Big Data Analytics, with a minimum of 55% marks or equivalent grade in aggregate of all semesters/ years from a recognized University/ Institute, an institute of national importance, UGC/ AICTE approved programme; OR d. Four-year Bachelor’s degree with a minimum of 60% marks or equivalent grade in aggregate of all semesters/ years in Data Science/ AI/ ML/ Big Data Analytics from a recognized University/ Institute, an institute of national importance, UGC/ AICTE approved programme; OR e. Two years Post Graduate Diploma in Business Analytics (PGDBA) with a minimum of 55% marks or equivalent grade in aggregate of all semesters/years from a recognized University/ Institute, an institute of national importance, UGC/ AICTE approved programme. |
- Some Universities/Institutes/Boards do not award Class or percentage of marks and allot Aggregate Grade Points (e.g., CGPA/OGPA/CPI, etc.). In case University/Institute/Board defines criteria for conversion of Aggregate Grade Point into percentage of marks, the same will be accepted. However, where the University/Institute/ Board does not define criteria for conversion of Aggregate Grade Point into percentage of marks, in the degree/passing certificates, the undefined parameter(s) would be worked out as under:
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Equivalent CGPA/OGPA/CPI or similar terminologies allotted on a 10-point scale |
Aggregate Percentage of Marks |
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6.75 |
60% |
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6.25 |
55% |
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5.75 |
50% |
- Selection Process:
- The country-wide exam for RBI Grade B has a three-phase selection process - preliminary examination (Phase I), followed by main examination (Phase II) and then, a final interview process. The preliminary examination is objective in nature while the main examination comprises objective as well as descriptive tests.
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RBI Grade-B Exams |
Dates |
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Officers in Gr B (DR)- General |
Phase-I – Online Examination |
July 09, 2023 |
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Phase-II – Paper I, II & III Online Examination |
July 30, 2023 |
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Officers in Gr B (DR) – DEPR |
Phase I - Paper - I - Online Examination |
July 16, 2023 |
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Phase II - Paper - II & III Online/Written Examination |
September 02, 2023 |
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Officers in Gr B (DR)- DSIM |
Phase I - Paper - I - Online Examination |
July 16, 2023 |
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Phase II - Paper - II & III Online/Written Examination |
August 19, 2023 |
Note:
- Selected candidates will draw a starting basic pay of INR 55,200 per month. Additionally, officers in Grade B will also be eligible for Special Allowance, Grade Allowance, Dearness Allowance, Local Compensatory Allowance, Special Grade Allowance, Learning Allowance, House Rent Allowance as per rules in force from time to time.
- At present, initial monthly gross emoluments (without HRA) are INR 1,16,914 (approximately) The House Rent Allowance of 15% of Basic Pay will be paid, if accommodation is not provided by the Bank
- Interested candidates need to apply online on the RBI website. Online registration will begin on May 09, 2023, and last till June 09, 2023 (6 pm)
- The application fee for general category applicants is INR 850 and for SC/SCT and PH candidates is INR 100
- Candidates who wish to apply for both Gr B (DR)-General and Gr B (DR) DEPR or DSIM (as the case may be) need to apply separately for both and pay the fees for both
- Here’s the detailed application process
- Candidates need to register at the IBPS portal and fill up the form
- Candidates have to enter their basic details and upload the photograph, signature, left thumb impression and a hand-written declaration in the online application form
- Once the form is completed, candidates need to pay the fee online
- The candidates need to print and keep a hard copy of the application form for future reference
Important dates & deadlines?
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16 Jun'23, 12:00 AM IST Registration Deadline
Additional Information
Job Location(s)
Delhi
Salary
Salary: Not Disclosed
Work Detail
Working Days: 5 Days
Job Type/Timing
Job Type: In Office
Job Timing: Full Time
About Reserve Bank of India (RBI)
India’s Central Banking Institution, The Reserve Bank of India, controls Indian Rupee’s issuance and supply. The RBI also controlled the Monetary Policy in India, until 2016 when the Monetary Policy Committee was established. In accordance with the Reserve Bank of India Act of 1934, RBI was established, and it commenced its operations on 1st April 1935 with the share capital initially owned entirely by private investors and divided into shares of 100 each fully paid. Soon after India’s independence in 1947, the RBI was nationalized on 1st January 1949.
A member bank of the Asian Clearing Union, the RBI plays an important role in the development strategy designed by the Government of India. The Governance of the general superintendence of the RBI is entrusted with the 21-member central board of directors. This Central Board of Directors includes four directors to represent local boards headquartered at Mumbai, Kolkata, Chennai and the capital New Delhi, ten government-nominated directors to represent important elements of India's economy, two finance ministry representatives, four deputy governors, and a Governor.
Organization Structure:
Functions:
- Monetary Authority:
- Formulates, implements and monitors the monetary policy.
- Objective: managing price balance while pursuing the purpose of growth.
- Regulator and supervisor of the financial system:
- Directs broad parameters of banking processes within which the nation's financial system and banking functions.
- Objective: sustain public trust in the system, provide cost-effective banking services to the public and protect depositors' interest.
- Manager of Foreign Exchange
- Manages the Foreign Exchange Management Act, 1999.
- Objective: to promote outside trade and payment and support systematic development and preservation of the foreign exchange market in the Nation.
- The issuer of the currency:
- Issues and transfers or terminates (not fit for circulation) currency and coins.
- Objective: to give the public an adequate quantity of supplies of currency notes and coins and in good quality.
- Developmental role
- Initiates a broad range of promotional functions to support national objectives.
- Regulator and Supervisor of Payment and Settlement Systems:
- Proposes and enhances reliable and effective modes of payment methods in the nation to meet the demands of the people at large.
- Objective: sustain public trust in settlement and payment system
- Related Functions
- Banker to the Government: offers merchant banking services for the central and the state governments of India thereby also acting as their banker.
- Banker to banks: accounts of all scheduled banks managed by the RBI
Departments:
- Consumer Education and Protection Department
- Corporate Strategy and Budget Department
- Department of Banking Regulation
- Department of Banking Supervision
- Department of Communication
- Department of Cooperative Bank Regulation
- Department of Cooperative Bank Supervision
- Department of Corporate Services
- Department of Currency Management
- Department of Economic and Policy Research
- Department of External Investments and Operations
- Department of Government and Bank Accounts
- Department of Information Technology
- Department of Non-Banking Regulation
- Department of Non-Banking Supervision
- Department of Payment and Settlement Systems
- Department of Statistics and Information Management
- Enforcement Department
- Financial Inclusion and Development Department
- Financial Markets Operation Department
- Financial Markets Regulation Department
- Financial Stability Unit
- Foreign Exchange Department
- Human Resource Management Department
- Inspection Department
- Internal Debt Management Department
- International Department
- Legal Department
- Monetary Policy Department
- Premises Department
- Rajbhasha Department
- Risk Monitoring Department
- Secretary's Department
- Central Vigilance Cell
Subsidiaries:
- Deposit Insurance and Credit Guarantee Corporation of India
- Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL),
- Reserve Bank Information Technology Private Limited (ReBIT)
Key People:
- Shri Shaktikanta Das: A retired IAS and the former Secretary, Department of Revenue and Department of Economic Affairs, Ministry of Finance, Government of India, Shri Shaktikanta Das assumed the role of the 25th RBI Governor effective December 12, 2018. He attended the St. Stephen’s College, University of Delhi for his Post Graduation.
- Shri N.S. Vishwanathan: Re-appointed by the Government of India as RBI Deputy Governor, Shri N.S. Vishwanathan has been appointed for a further period of one year beyond his currently notified period of appointment of three years that expires on July 3, 2019, i.e., till July 3, 2020.
- Viral V. Acharya: Appointed as the Deputy Governor of RBI by the Government of India, Dr. Viral V. Acharya previously served as the C.V. Starr Economics Professor in the Department of Finance of Stern School of Business- New York University.
Mint Street Memos:
MSM or Mint Street Memos is a series of documents that are in the form of brief reports and analysis on contemporary topics, prepared by the staff of RBI and Centre for Advanced Financial Research and Learning or scripted from one of the recent statements of the Bank.