RBI Grade B 2024 - Eligibility Criteria - Seats - Salary - Exam Pattern - All Explained

Reserve Bank of India (RBI) has released notification for recruitment of Grade B officers or Managers on 18th July 2024. The form filling has started since 25th July 2024.

There are three types of posts:
1. Grade B (General) - General Management.
2. Grade B (DEPR) - Economics.
3. Grade B (DSIM) - Statistics.

All these posts have same level of salary, but they differ in nature of work and qualification requirements. Here in this blog, I have explained all the details in brief.

Important Dates:

Application Starts: 25th July 2024
Application Ends: 16th August 2024 (6:00 PM)

Expected Exam Date for Grade B (General):
1. Phase-1: 8th September 2024
2. Phase-2: 19th October 2024

Expected Exam Date for Grade B (DEPR):
1. Phase-1: 14th September 2024
2. Phase-2: 26th October 2024

Expected Exam Date for Grade B (DSIM):
1. Phase-1: 14th September 2024
2. Phase-2: 26th October 2024


Application Fees:
1. For General/EWS/OBC: ₹850 + 18% GST
2. For SC/ST/PwBD: ₹100 + 18% GST
3. For RBI Staff: ₹0 (Nil)


Brief Information about Job Profile:

1. Grade B (General):
• Work nature is similar to that of a Section Officer (of SSC CGL)
• Involves analysis, policy drafting and records/accounts maintaining work, with less/no field work.
• Involves a range of responsibilities, including managing the country's monetary policy, regulating and supervising financial institutions, and managing foreign exchange operations.

2. Grade B (DEPR - Department of Economics and Policy Research):
• Mostly research and analysis work.
• The primary nature of work of this cadre is to carry out research and analysis on various macroeconomic aspects of Indian (and also international) economy, and publish various RBI reports (like annual reports, monetary policy report, etc).

3. Grade B (DSIM - Department of Statistics and Information Management)
• Work is mostly analytical in nature.
• Responsible for collecting, analyzing, and disseminating statistical data and information related to various aspects of the Indian economy.
• The data provided by DSIM is useful for DEPR to carry out economic research and analysis and publishing RBI reports.


Salary and Perks:

Salary:
Pay Scale: ₹55200-2850(9)-80850-EB-2850(2) -86550-3300(4)-99750(16 years)
Basic Pay: ₹55,200
Gross Pay (without HRA): ₹1,22,717
In-hand salary (without HRA): approx ₹1,08,000

*HRA (House Rent Allowance) of 15% will be given only to those officers, who don't get accommodation in RBI quarters.

Note: For candidates possessing very high academic or professional qualification / experience of significant value to the Bank, the Bank may, at its sole discretion, consider granting up to four advance increments (i.e., basic pay can go up to 2850x4 + 55,200 = ₹66,600)


Perks:
1. Vehicle maintenance (only for official use)
2. Accommodation (if available, otherwise 15% HRA will be given)
3. Newspaper allowance
4. Book grant allowance
5. Telephone charges allowance
6. Allowance for furnishing of residence
7. Free dispensary
8. Reimbursement of medical expenses
9. Interest free festival advance
10. Leave Fare Concession (once in two years for self, spouse and eligible dependents)
11. Loans and advances at concessional rates of interest for Housing, Vehicle, Education, Consumer Articles, Personal Computer, etc.


Career growth:
• In 7 years: Grade-B to Grade-C (Assistant General Manager).
• In next 5 years: Grade-C to Grade-D (Deputy General Manager).
• In next 5-6 years: Grade-D to Grade-E (General Manager).
• In next 5-6 years: Grade-E to Grade-F (Chief General Manager - heads an entire zone of RBI).
(Most people retire here).
• A few may get a chance to become "Executive Director (ED) of RBI".
• A rare of the rarest may get the chance to get promoted from ED and become "Deputy Governor of RBI" (mostly filled by IAS).
• But you cannot become Governor of RBI (it is filled by IAS and economists only).


Vacancy:
This year, vacancy is lesser than previous years. Every year, RBI used to notify 250+ vacancies for Grade B. But this year, it's only 94.

• Grade B (General):
(UR: 27, EWS: 06, OBC: 19, SC: 10, ST: 04)
(Total = 66 seats).

• Grade B (DEPR):
(UR: 08, EWS: 01, OBC: 05, SC: 01, ST: 06)
(Total = 21 seats).

• Grade B (DSIM):
(UR: 02, EWS: 00, OBC: 00, SC: 01, ST: 04)
(Total = 07 seats).

Grand Total = 66 + 21 + 07 = 94 seats only.


Educational Qualification (as on 01.07.2024):

1. For Grade B (General):
Graduation in any stream with minimum 60% marks from a UGC recognised university (50% for SC/ST/PwBD applicants).

OR (If you don't have 60% in Graduation);

Postgraduate in any stream with 55% in aggregate in all semesters from a UGC recognised university (pass marks for SC/ST/PwBD applicants).

2. For Grade B (DEPR):
Master Degree in Economics (MA Economics, or, MA/MSc in Quantitative Economics, Mathematical Economics, Financial Economics, Business Economics, Agricultural Economics, Industrial Economics), with minimum 55% marks aggregate in all semesters from a UGC recognised university (50% marks for SC/ST/PwBD applicants).

OR,

Master Degree in Finance (MA Finance, or, 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, AgriBusiness Finance), with minimum 55% marks aggregate in all semesters from a UGC recognised university (50% marks for SC/ST/PwBD applicants).

OR,

PGDM/ MBA Finance with a minimum of 55% marks or an equivalent grade in aggregate of all semesters /years from a recognized Indian or Foreign University /Institute (50% marks for SC/ST/PwBD applicants).

3. For Grade B (DSIM):
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 (50% marks for SC/ST/PwBD applicants).

OR,

Master's Degree in Mathematics with a minimum of 55% marks or an equivalent grade in aggregate of all semesters/years and one year post graduate diploma in Statistics or related subjects from an Institute of repute (50% marks for SC/ST/PwBD applicants).

OR,

Master’s Degree 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 (50% marks for SC/ST/PwBD applicants).

OR,

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 (50% marks for SC/ST/PwBD applicants).

OR,

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 (50% marks for SC/ST/PwBD applicants).


Age Limit (as on 01.07.2024):
Minimum: 21 years
Maximum: 30 years

Age relaxation:
a. 5 years for SC/ST
b. 3 years for OBC
c. 5 years for ex-employees of banking institutions whose services had to be terminated for reasons of economy or because of bank going into liquidation.
d. 5 years in the case of ex-servicemen including Commissioned Officers and Emergency Commissioned Officers (ECOs)/Short Service Commissioned Officers (SSCOs) who have rendered at least five years Military Service as on July 01, 2024 and have been released.
e. 10 years for Gen/EWS PwBD candidates.
f. 13 years for OBC PwBD candidates.
g. 15 years for SC/ST PwBD candidates.
h. 2 years (32 years age) for candidates possessing MPhil qualification.
i. 4 years (34 years age) for candidates possessing PhD qualification.
j. upto 33 years age (including experience) for candidates having upto three years experience (excluding Probation period) in Scheduled Commercial Banks, Public Sector Insurance Companies, EXIM Bank, NABARD, NHB, SIDBI and NaBFID, and also prior experience in RBI.
k. For DEPR/DSIM, Research/Teaching experience at a recognised Indian/Foreign University/Institute will be eligible for relaxation in upper age up to maximum 3 years (33 years age).


Exam Pattern:

A. For Grade B (General)

1. Phase-1: To be held on 8th September 2024 (Computer Based).
Contains questions from:
a. English Language: 30 que/30 marks/25 minutes
b. Numerical Ability: 30 que/30 marks/25 minutes
c. Reasoning Ability: 60 que/60 marks/45 minutes
d. General Awareness: 80 que/80 marks/25 minutes

Total: 200 questions of 200 marks and 120 minutes time duration.
Negative marking: -1/4th (-0.25 marks).

2. Phase-2: To be held on 19th October 2024 (Computer Based).
Contains three papers (conducted on the same day):

a. Paper-1: Economic and Social Issue
• 50% objective type - 30 minutes - 50 marks - 30 questions
• 50% descriptive type - 90 minutes - 50 marks - 6 questions (out of which 4 is to be answered) - to be typed on keyboard.
• Total: 100 marks and 120 minutes.

b. Paper-2: English (Writing Skills)
• Descriptive - to be typed on keyboard.
• 3 questions/90 minutes/100 marks.

c. Paper-3: General Finance and Management
• 50% objective type - 30 minutes - 50 marks - 30 questions
• 50% descriptive type - 90 minutes - 50 marks - 6 questions (out of which 4 is to be answered) - to be typed on keyboard
• Total: 100 marks and 120 minutes.

Grand Total (Phase-2): 300 marks.

3. Interview: Shortlisting based on only Phase-2 marks (out of 300).
• Interview is of 75 marks.

• Final Merit will be prepared on basis of aggregate marks scored in Phase-2 and Interview (375 marks).


B. For Grade-B (DEPR)

1. Phase-1: To be held on 14th September 2024 (Computer Based).
This phase has two papers (both conducted on the same day):

a. Paper-1: Objective Type (on Economics) - 120 minutes - 100 questions - 100 marks - 1/4th negative marking (-0.25 marks).

b. Paper-2: English - Descriptive (To be typed with the help of a keyboard) - 120 minutes - 100 marks.

Grand Total (Phase-1): 200 marks.

2. Phase-2: To be held on 26th October 2024 (Computer Based).
This phase also has two papers (both conducted on the same day):

a. Paper-1: Descriptive Type-1 (on Economics)
• Question paper displayed on computer, answers to be written on paper.
• 100 marks and 120 minutes time.

b. Paper-2: Descriptive Type-2 (on Economics)
• Question paper displayed on computer, answers to be written on paper.
• 100 marks and 120 minutes time.

Grand Total (Phase-2): 200 marks.

3. Interview: Shortlisting based on both Phase-1 and Phase-2 marks (out of 400).
• Interview is of 75 marks.

• Final Merit will be prepared on basis of aggregate marks scored in all Phase-1, Phase-2 and Interview (475 marks).


C. Grade-B (DSIM)

It's written exam has three papers: Paper-1, Paper-2 and Paper-3.

1. Phase-1: To be held on 14th September 2024 (Computer Based).
• It contains only Paper-1.
• Paper-1: Objective Type (on Statistics) - 100 questions - 100 marks - 120 minutes.

2. Phase-2: To be held on 26th October 2024 (Computer Based).
This phase has two papers - Paper-2 and Paper-3 (both conducted on the same day):

a. Paper-2: Descriptive Type (on Statistics)
• Question paper displayed on computer, answers to be written on paper.
• 100 marks and 180 minutes time.

b. Paper-3: English – Descriptive
• To be typed with the help of a keyboard.
• 100 marks and 90 minutes time.

Grand Total (Phase-2): 200 marks.

3. Interview: Shortlisting based on both Phase-1 and Phase-2 marks (out of 300).
• Interview is of 75 marks.

• Final Merit will be prepared on basis of aggregate marks scored in all Phase-1, Phase-2 and Interview (375 marks).

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