Reserve Bank of India is central banking institution of the Country whose activities’ impact is extended throughout all aspects of the economy of our country. Apart from printing rupees, its functions involve regulating banks, managing foreign exchange, maintain price stability while keeping in mind the objective of growth through monetary policy, facilitate payment and settlement system and many other activities.
There are various departments to do these functions like Monetary Policy Department, Department of Cooperative Bank Regulation, Department of Currency Management, Financial Inclusion and Development Department etc. All these departments are engaged in the overall financial and economic development of our country.
See more: RBI Grade B notification
Working with RBI
Being working with RBI is not just like any another career. Here, you will be involved in activities which will have an impact on the way the economy and the financial sector in the country evolve. Further, RBI offers you work in the whole range of functions and you can be part of the activity of your interest. It also provides scholarships to acquire higher qualifications, facility to pursue your own research, deputation to other institutions, participation in national and international level conferences and seminars and sabbatical.
In RBI not only you will be provided with enough of opportunities where you can use your skillset but will also be provided with an attractive compensation package which includes various perk & facilities like independent accommodation in prime localities; medical facilities; LTC etc.
About Officer Grade B post
The general hierarchy in RBI look like this
By getting selected as RBI grade B you will be joining as Manager
You may be promoted to the level of Deputy Governor. Further, as staying with RBI will give you enough exposure and concrete experience in finance /economics, it will open window of opportunities to get into not only in various multilateral development bank like World Bank ADB etc. but also in investment banking and earn a hefty salary. If you want to pursue higher study, it will definitely give you an edge in pursuing P.HD. etc. from the world top university. In fact, in RBI you can take Sabbatical of two years without losing your seniority.
Further, if you are from the non-finance/economic background (non-MBA) it is the perfect platform which can launch you into the finance industry without doing any MBA or Finance course.
See also: Departments and Roles for RBI Grade B and RBI assistant
Other Miscellaneous detail
Working Hours: 5-days a week; 9 to 5 job ( it may be different if you are directly involved in banks operations like NEFT or RTGS etc.)
Probation period of 2 years can be extended to 4 years
Posting Locations: The RBI has 30 Offices – most of them in state capitals. Its Central Office is in Mumbai. It also has two training establishments – one each in Chennai and Pune. You could be located at any of these centers during your career. Either in headquartered at Mumbai and other regional offices most of them are in state capital or metros city. You may be posted
See also: Online coaching for RBI Grade B
Scheme for Recruitment Exam for Grade B
RBI Grade b recruitment process consists of three phases.
RBI Grade ‘B’ Recruitment Analysis
|1.||Total Number of vacancies||163 (as per 2019)|
|2.||Aspirants cleared Phase 1 = Aspirant appeared in Phase II*||3234|
|3.||Shortlisted for interview||~680|
|4.||Success Ratio ( Passed/ Appeared in Phase II) (3÷2)||~ 21%
(almost 1 cleared in 5 aspirants)
|5.||Ratio (shortlisted: Vacancy) (3÷1)||~4 : 1|
Just to add that there are approximately 2 lacs students giving RBI phase 1 paper. So there is 1.5% success ratio for that stage as well.
RBI Grade B Phase 1 :
It is same as any other IBPS banking exam and consist of the following sections:
Syllabus for RBI Grade B Phase 1 is same as of other banking exams, but on the difficulty scale, it is little tougher especially Quantitative Aptitude and English.
Exam duration is 2 hours
There is usually 15 days window between Phase 1 and Phase 2 exam. So exam preparation for Phase 1 and Phase 2 exam should be done simultaneously. Initially, major focus should be on Phase 2 and then the focus should shift to Phase 1 prior to 2-month of Phase 1 Examination.
RBI grade B Exam Pattern for Phase-II Paper is as under.
Preparation tips for RBI Grade B Economics and Social Issues
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