RBI Grade B 2023 Revised In Hand Salary

RBI Grade B 2023 recruitment notification has been released today featuring a total of 291 vacancies. Those who were eagerly waiting for the notification to come may now feel relaxed and must start applying as the online application for RBI Grade B 2023 starts today. However, before applying, candidates should ensure that they fulfill the eligibility criteria for the advertised posts. The online application has started and the last date to complete the online application is June  9, 2023. So, candidates have a complete 1 month to do so, but still the process is to be completed on time rather than waiting for the last day. Many aspirants who wish to apply for this reputed job, but are confused because they may not know the salaries and the job profile etc. In this article we will be discussing the RBI Grade B 2023 Revised In hand Salary which makes it even more lucrative.

RBI Grade B 2023 Revised In hand Salary

The RBI Grade B Notification is out today on 9 May 2023 and the in hand salary of course is one of the major motivating factors to take up this job or not. As far as the detailed salary structure is concerned it is mentioned there in the notification for RBI Grade B Examination. The RBI Grade B Salary is around Rs. 1,16,914/- (approximately) without HRA. When we talk about salary there are several other components that are included in RBI Grade B salary in the form of allowances such as dearness allowance, house rent allowance, Special allowance, etc. These allowances when added to the basic salary makes the salary of an RBI Grade B officer quite lucrative and attractive.

RBI Grade B 2023 FREE MOCK TEST

RBI Grade B Salary Structure 2023

This is one of the most reputed and a highly valued job profiles and moreover, RBI offers various emoluments to the RBI Grade B officers. In this article we have covered all the aspects of RBI Grade B 2023 revised in hand salary.

The salary structure is mentioned in the RBI Grade B recruitment notification and is Rs. 55,200-2850(9)-80850-EB-2850(2)-86550-3300(4)-99750(16 years). 

• Basic Salary – Rs. 55,200
• Gross salary is Rs. 1,16,914/- (approximately)

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This salary, if we talk about, is the best in the banking sector. Moreover, the candidates can check the detailed salary structure mentioned below:

RBI Grade B Particulars	Amount
Basic Pay	Rs. 55,200
Grade Allowances	Rs. 11,500
Dearness Allowances	Rs. 23,986
CVPS Incentives + Other Allowances	Rs.8,510
Special Prerequisite Allowances	Rs. 1,465
Special Allowances- Direct Recruit	Rs. 9,750
Local Compensatory Allowances	Rs. 5,468
Learning Allowance	Rs. 2,500
Gross Pay	Rs. 1,16,914/- (approx)

RBI Grade B 2023 FREE MOCK TEST

If we talk about the exact in-hand salary it may vary from person to person depending upon the conditions of recruitment and allowances added to the basic salary. As per RBI Grade B Notification the gross salary without HRA for the initial month is Rs. 1,16,914/- (approx)

RBI Grade B 2023 FREE MOCK TEST

RBI Grade B Salary 2023 Perks & Allowances

Apart from an attractive salary an RBI Grade B officer gets a lot of perks, allowances and other benefits. These allowances are paid over and above the basic pay which factors in the rent, cost of living, expenditure incurred for official purposes, and travel expenses etc. Mentioned below are some extra perks and benefits:

• Dearness allowance- Dearness allowance is given by the government to its employees to offset the impact of inflation. As per the 7th pay commission, DA is 43% of the basic salary.
• Grade allowance- A grade allowance of Rs. 11,500 will be given to RBI Grade B officers.
• Conveyance allowance- This allowance is paid on the basis of the declaration filed in this regard
• Bank loan facility- RBI Grade B officers can also avail of the bank loan facility to get house loans, and car loans as per the bank’s policies
• House rent allowance-  The HRA is 15% of the basic salary and it is generally given when you don’t take the government quarter.
• Education allowance- RBI Grade B officers are also entitled to receive Annual reimbursements of educational allowance of around 4000 rupees per month
• Briefcase allowance- RBI Grade B officers are also entitled to receive a Briefcase allowance of rupees 7000, once in three years

RBI Grade B 2023 FREE MOCK TEST

Now coming to the job profile. Many aspirants may get confused about the job profile and their  roles and responsibilities as an RBI Grade B officer. Mentioning below are few responsibilities that an RBI Grade B officer will have to overtake:

• They may have to do regular audits of various banks, financial schemes, and operations in the banking sector.
• Functioning of the banking industry is to be looked by them through regular account analysis etc
• As an RBI Grade B officer you will have to play a role in complex calculations for monetary policy tools and other rates decided by RBI.

Major Changes Listed in RBI Grade B 2023 Notification

1. Social Structure in India – Multiculturalism – Demographic Trends – Urbanisation and Migration – Gender Issues – Social Justice

If we refer to the last year’s syllabus, sub-topics under “Social Justice” have been omitted this time. However, social justice, in general, is an umbrella term for ensuring welfare in the health, education, and societal parameters such as the upliftment of the marginalized sections. So, covering these topics under social justice (taken from last year’s syllabus) is advisable.

Social Justice: Positive Discrimination in favour of the under privileged – Social Movements – Indian Political System – Human Development – Social Sectors in India, Health and Education.

General Finance: Major Changes

2. Recent Developments in Global Financial System and its impact on Indian Financial System

Earlier, the scope of global financial markets in the RBI Grade B syllabus was limited to the financial crisis of 2008 and its aftermath. Now, the topic has become broader. We need to learn about the recent developments too.

3. Role of Information Technology in Banking and Finance

In the last year’s syllabus, “FinTech” was a separate sub-topic. This time, we are required to inculcate a deeper understanding of what IT potentially does to make us adapt to the ever-changing banking and financial sector.

4. Financial Risk Management

Earlier, we had “risk management in the banking sector” in the syllabus. This time we are required to learn about risk management in the whole financial sector.

5. Basics of Accounting and Financial Statements – Balance Sheet, Profit and Loss, Cash Flow Statements, Ratio Analysis (such as Debt to Equity, Debtor Days, Creditor Days, Inventory Turnover, Return on Assets, Return on Equity, etc.)

RBI Grade B 2023 FREE MOCK TEST

This brings us to the end of the article.  Start applying for RBI Grade B and attempt RBI Grade B 2023 FREE MOCK TEST to know your exam preparation level.

RBI Grade B 2023 Recruiment Notification