RBI Grade B Salary 2022: Check in-hand salary, allowance, perks, and other benefits

Safalta Expert Published by: Deepesh Mehra Updated Mon, 16 May 2022 07:06 AM IST

Highlights

Looking for details on RBI Grade B Salary? Check in-hand salary, grade pay, pay scale, benefits, allowances, and much more here at Safalta.com.

Reserve Bank of India conducts the RBI Grade B Exam to recruit eligible and interested candidates to the post of Grade B Officers. Candidates should know all the details about RBI Grade B salary and job profile to understand the nature of the profession better.  RBI Grade B is the Managerial Profile for Officers in Grade B (General) – DR, DEPR, and DSIM in the Common Seniority Group (CSG) that is responsible for the smooth functioning of the member banks in the Reserve Bank of India. The recruitment process for the year 2022 is set to begin soon. The details related to RBI Grade B Salary are as follows:
  • The salary of RBI Grade B Officers is as per the 7th pay commission.
  • Their basic salary on joining is around ₹35,150/- per month
  • The allowances associated with the job are House Rent Allowance, Dearness Allowances, Travelling Allowance, medical allowances, etc.
Working in the central bank is a dream for many. The salary and allowances in the RBI are best in class and working conditions are unmatched by any. This space will cover all the details related to RBI Grade B Salary and Job Profile. If you are preparing for RBI Grade B Exam then download the following free e-books now!
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Table of Contents

1. RBI Grade B Salary 
  i. RBI Grade B In-hand Salary
  ii. RBI Grade B Salary: Payscale
2. RBI Grade B Salary: Allowances
3. RBI Grade B Salary: Perks and Allowances
4. RBI Grade B Salary: Career Growth and Promotion

 

RBI Grade B Salary 2022

RBI Grade B salary is a handsome amount which makes this post very appealing for a lot of candidates. In addition to a good salary, RBI Grade B officers are paid various allowances and benefits. Having knowledge of the salary, allowances and job profile of RBI Grade B officer will help you understand the profession better.

RBI Grade B In-hand Salary

RBI through Grade B offers the best in class salary. Very competitive and lucrative sum as a reward for young talents. The pay scale for RBI Grade B is -Rs. 35150-1750 (9)-50900-EB-1750 (2)-54400-2000 (4)-62400. In-hand salary of an RBI Grade B officer is Rs.  ₹83254/- (approx.). The breakdown of salary is as follows:
 
RBI Grade B Officer Salary
RBI Grade B Officer Salary (Basic Pay)  Rs. 35,150
Pay Scale 35150-1750 (9)-50900-EB-1750 (2)-54400-2000 (4)-62400
Initial Monthly Gross Emoluments Rs. 823254 (approx)

Also, read the following related articles on RBI Grade B Exam:
RBI Grade B Eligibility Criteria RBI Grade B Salary Best Books for RBI Grade B
 

RBI Grade B Salary: Payscale 

The pay scale for RBI Grade B is -Rs. 35150-1750 (9)-50900-EB-1750 (2)-54400-2000 (4)-62400.  Know pay scale and its meaning with reference to RBI Grade B.
 
Initial Basic Pay  Rs. 35150/
For the next 9 years  increment of Rs.1750 for up to 9 years
After 9 years Basic Pay   Rs.50,900- increment  of Rs.1750 for the next 2 years.
 increment of Rs.2000 for the next 4 years 
Final Basic Pay  Rs.62,400.
 

RBI Grade B Salary: Allowances

 
RBI not only gives a handsome in-hand salary. The benefits and allowance that RBI Grade B officers enjoy are second to none. RBI Grade B officers are eligible for a number of allowances as per rules from time to time. Allowance enjoyed are:
  1. Dearness Allowance- Dearness Allowance now for RBI Grade B Officers is 125% of the Basic Pay. It was earlier 113% of the basic pay but it has now been revised and further increased to 125% of basic pay.
  2. Medical Allowance- RBI Grade B Officers are given Free Dispensary Facility and medical allowance amounting to Rs. 4,500. Other than this, officers also get reimbursement of medical expenses for hospitalization and OPD treatment.
  3. House Rent Allowance- House Rent Allowance is given to officers who are posted out of their hometowns. RBI employees get a 2BHK flat. If the recruited candidate gets an allotted accommodation/flat, he/she is given Rs. 70,000 for accommodation in metro cities.
  4. Conveyance Allowance- The candidate has to provide a declaration to receive this allowance.
  5. Educational Allowance-  About Rs. 4000 per month is given to RBI Grade B Officers for educational allowance for their children.
  6. Leave Fare Concession- Approximately Rs. 10,7000 is given under this allowance. LFC/LTC is offered to the officers and his/her family members once every two years.
  7. Briefcase Allowances: BA is drawn by Grade A and B level officers. The Annual reimbursement of Briefcase is approx Rs- 7000/-. They can reimburse the price of the briefcase every three years.
  8. Grade Allowance: 2250 for Grade B officer starts after confirmation (end of probation).
  9. Special Allowance: 2500 for Grade B officer starts after confirmation (end of probation).
  10. For those who do not receive accommodation from the bank, they are eligible for the House Allowance which is  15% of Basic Pay.
The salary details after allowances is as follows:
 
Basic Pay Rs. 55,200
Grade Allowances Rs. 6,800
Dearness Allowances Rs. 23,144
Housing Allowance Rs. 5273
CVPS Incentives  Rs. 827
Special Prerequisite Allowances Rs. 1465
Special Allowances- Direct Recruit Rs. 1800
Local Compensatory Allowances Rs. 3664
Meal Allowance Rs. 160
Gross Pay Rs. 1,08,404
 
Attempt Free Mock Tests- Click Here
 

RBI Grade B Officer Salary: Perks, and Other Benefits

 Perquisites add on to a handsome salary and numerous allowances. RBI Grade B officers enjoy the following perks and other benefits:
  1. Housing Bank's accommodation, subject to availability, 
  2. Reimbursement vehicle maintenance expenses for official purposes,
  3. Recreational Expenses: Interest-free festival advance, Leave Fare Concession (once in two years for self, spouse, and eligible dependents).
  4. Loans and Advances at concessional rates of interest for Housing, Vehicle, Education, Consumer Articles, Personal Computer, etc.
  5. Other Benefits: newspaper, telephone charges, book grant, allowance for furnishing of residence, etc. as per eligibility.
 
If you want to get details about the other Indian government job salaries, you can visit these articles by Safalta.
RBI Assistant Salary   RBI Grade B Eligibility  RBI Assistant Syllabus
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RBI Grade B Salary: Career Growth and Promotion

Candidates who clear the RBI Grade B Exam are recruited at the post of Assistant in RBI. There is a hierarchy of ranks followed in RBI according to which RBI Grade B Officers receive promotions. The hierarchy of ranks in RBI is as follows in ascending order:
  • Assistant Manager
  • Manager
  • Assistant General Manager 
  • Deputy General Manager
  • General Manager
  • Chief General Manager
  • Principal Chief General Manager
  • Executive Director
  • Deputy Governor
  • Governor
 
Thus based on certain criteria followed by RBI, RBI Grade B Officers are given promotion and rise up this rank hierarchy. Along with this, RBI Officers are given study leaves and opportunities to pursue further education. They are also given scholarships. After retiring, RBI Officers can also join Private Banks as board members. Thus RBI Grade B Officer is a very reputed post that offers a lot of opportunities for the recruits and offers a handsome amount of salary along with other perks, benefits, and allowances.

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Are 6 months of current affairs enough for RBI Grade B?

RBI Grade B, SEBI Grade A, NABARD Grade A, or any competitive examination generally requires the students to acquire an opulent knowledge of at least the past 6 months' current affairs. For static portions, detailed videos, PDFs, and mocks have been provided in the course which is sufficient from the exam point of view.
 

Do RBI Grade B officers get a car?

The Officers also receive a Conveyance allowance of 150 liters petrol or Rs. 16504/- per month which is for their spouse and other two dependents. The conveyance allowance is 50 liters more in metro cities.
 

Who earns more IAS or RBI Grade B?

The salary of both RBI Officer and IAS officer is almost the same. If we compare the monthly salary of the RBI Grade B officer and IAS officer then an RBI Grade B officer is offered INR 68,000/-(approx.).
 

Which is better NABARD Grade A or RBI Grade B?

According to most aspirants, the RBI Grade B exam is tougher than the NABARD Grade A exam. The RBI Grade B syllabus and NABARD Grade A Syllabus are almost 60 % the same. ... If you have a thorough knowledge of agriculture or like to read about it then NABARD Grade A might be a good choice for you.
 

What is the highest post in RBI?

The highest position an RBI Grade B officer can rise to is Deputy Governor. With the right career path, the government can appoint Deputy Governors as the Governor of RBI.

What is the in-hand salary of RBI Grade B Officer?

The starting in-hand salary of an RBI Grade B Officer is Rs. 77,000 per month approximately.

What is the CTC of RBI Grade B Officer?

The CTC of an RBI Grade B Officer sums up to Rs. 12 lakhs per annum.

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