RBI Grade B Officer Salary 2024 Pays scale, Allowances & Benefits

The basic RBI grade B officer salary is Rs 55,200. The RBI grade B officer exam is conducted by the Reserve Bank of India (RBI full form). The exam selects candidates for the grade B position – DR, DSIM, DEPR in the Community Seniority Group (CSG).

The RBI grade B phase II exam for 2024 will be held on 2nd July 2024. The RBI grade B exam for 2023 will be announced on the official website of the  RBI (Reserve Bank of India). The candidates must prepare well by covering the entire RBI grade B test syllabus to do well in the exam. This is a prestigious job profile, and many candidates apply for some limited seats.

This article will discuss the salary of RBI grade B officer recruitment 2024 in detail. It will also compare this job with other banking jobs.

RBI Grade B Officer Salary Structure

The RBI officer grade B salary has different components. Let’s look at them in detail.

Salary components	Salary amount
Basic pay	Rs 55,200
House Rent allowance	Rs 5,273
Dearness allowance	Rs 23,144
Grade allowance	Rs 6,800
Special requisite allowance	Rs 1,465
CVPS incentives	Rs 827
Special allowance – Direct recruit	Rs 1800
Meal allowance	Rs 160
Local compensatory allowance	Rs 3,664
Total pay	Rs 1,08,404

The RBI officer grade B in-hand salary in hand be after standard deductions as per government regulations.

Let’s understand the deductions in detail.

Deduction components	Amount
EE NPS contribution	Rs 6509
Prof tax-split period	Rs 200
BF EE NPS monthly contribution	Rs 13,018
House rent recovery	Rs 620
Meal coupon distribution	Rs 400
MAF	Rs 300
RBI Office’s association	Rs 40
Sports club membership	Rs 30
Income tax	Rs 5,319
Total deductions	Rs 26,436
Final in-hand salary	Rs 81,968

RBI Grade B Officer Perks & Benefits

The RBI grade B officer has several benefits along with the salary. Some of the major benefits are

• House rent allowance – RBI allocates houses for their employees. For the employees, when RBI cannot provide accommodation, RBI provides them with an amount to compensate for the rent.
• Dearness allowance – This is 12.5% of the basic pay.
• Conveyance allowance – This is based on the employee’s declaration. In metro cities, extra 30 liters of petrol are provided.
• Medical allowance – They have a monthly medical allowance of Rs 4500.
• Education allowance – They are provided with a monthly allowance of Rs 4000 for their children.
• Maid allowance – The RBI grade B officer can avail of up to Rs 3000 as maid allowance.
• Briefcase allowance – They are entitled to Rs 7000 every three years to purchase a new suitcase.
• Spectacles allowance – They are entitled to Rs 7000 to purchase spectacles for themselves or their spouses.
• Mobile allowance – They are entitled to a Rs 1500 mobile allowance every month.

RBI Grade B Officer Salary Perks

• Leave Travel Concession (LTC) – RBI provides an LTC facility to all their employees every two years.
• Sodexo coupons – The RBI grade B officer can avail of the Sodexo coupons of Rs 2000 to buy groceries and food every month.
• Accommodation – RBI provides accommodation to their employees in the city of posting. If not, they provide the required HRA to compensate for it.
• Fuel allowance – The employees are provided with 150 liters of petrol every month if they have a vehicle. They are provided with vehicle maintenance if used for official purposes.
• Loan facility – The RBI grade B officers can get loans at a cheaper rate and easily.
• They would benefit from gratuity and come under the National Pension Scheme.
• They are provided with free telephone facilities and allowances to purchase books and newspapers.
• They can avail of free dispensary facilities besides medical reimbursements.
• Advance interest-free payment on festivals.
• Pension– The RBI grade B officer is entitled to a pension after retirement, just like other government employees.

RBI Grade B Officer Comparison: Salary with Other Bank Post

Comparison of salary of RBI grade B officer vs SBI PO salary

Terms	RBI grade B officer	SBI PO
Nature of bank	It is the center of all banks.	It is the best public sector bank. It has a presence in India and international locations.
Exam conducting body	RBI	SBI
Posts	Grade B officer	Probationary Officer
Basic Pay	Rs 55,200	Rs 41,960
Posting	Only in the capital cities of India	Anywhere in India
For latest information and details	Click here	Click here

RBI grade B officer vs clerks in public sector banks

Terms	RBI grade B officer	PO in Nationalized banks
Nature of bank	It is the centre of all banks.	All the nationalized banks.
Exam conducting body	RBI	IBPS
Posts	Grade B officer	Probationary Officer
Basic Pay	Rs 55,200	Rs 23,700
Posting	Only in the capital cities of India	Anywhere in India

RBI grade B officer vs private sector banks

Terms	RBI grade B officer	Private banks
Nature of bank	It is the center of all banks.	All the national private banks
Exam conducting body	RBI	All banks have their round of selection
Posts	Grade B officer	Depends on the requirement
Basic Pay	Rs 55,200	Depends on the position
Posting	Only in the capital cities of India	Anywhere in India

RBI Grade B Officer Salary Factors

There are different factors affecting the RBI officer grade B salary. Let’s look at them in detail.

• Job location – The cost of living in metro and non-metro cities is different. So, the final in-hand salary may differ per the officer’s posting. There may be some inclusions regarding fuel and others to compensate for the officers living in metro cities.
• Role and responsibilities – The salary of RBI grade B officers depends on their roles and responsibilities. There are different roles in RBI, like handling the currency issue and their circulation, handling central and government banks, and maintaining the financial stability of the nation. So, according to their roles, the salaries may differ.
• Experience – This is an important criterion that affects the salary of RBI grade B officers. The candidates are given a higher salary if they have more experience in banking service.

RBI Grade B Officer Career Growth Opportunities

Apart from the lucrative RBI officer grade B salary and allowances, there are other benefits. The officer would get timely promotions to help them in their professional careers.

Once the probation period is over, the candidate becomes permanent. The probation period is two years. they may extend up to four years. After completing probation and serving some years at RBI, they are eligible for the promotion.

Let’s look at the RBI grade B officer career growth.

• Assistant Manager
• Manager
• Assistant General Manager
• Deputy General Manager
• General Manager
• Chief General Manager
• Executive Manager
• Deputy Governor

Pursuing a career with the Reserve Bank of India as a Grade B officer unfolds a journey of financial stability and growth, complemented by a comprehensive benefits package that rivals and often surpasses those in the banking sector.

With competitive salaries, extensive allowances, and a clear pathway for advancement, this role not only offers a prestigious position within India’s financial nucleus but also a fulfilling career that promises both professional and personal development.

As such, the RBI Grade B officer position stands out as a beacon for aspiring banking professionals, showcasing the blend of reward, responsibility, and recognition that defines a truly remarkable career choice. For more official information and updates visit: Reserve Bank of India (rbi.org.in)

Recommended reading:

NABARD Grade A 2024 Notification, Exam pattern, Eligibility, News

RBI Assistant 2024: Notification, Exam Pattern, News, and Syllabus

Frequently Answered Questions (FAQs)