RBI Grade B 2024 Exam: Eligibility, Salary, Job Profile, Selection Process

As the RBI Grade B Exam 2024 draws near, only a few months are left to prepare for this prestigious exam. So, if you are thinking of appearing this year, then you must have the details that we have discussed on this page. It is always beneficial to understand the process before getting into it real-time. So, here we have gathered every kind of information. So, spare some time and thoroughly read this page.

What is the RBI Grade B Exam?

As we all know the Reserve Bank of India (RBI) is the Central Bank of India which regulates and looks after the financial health of the country and it stands as a pillar of stability and progress in our economy. Working with RBI is in itself very empowering. So, to provide this opportunity, RBI conducts the annual RBI Grade ‘B’ Exam for General/DEPR/DSIM posts.

The RBI Grade B Examination consists of 3 stages: Phase I, Phase II, and Interview and the exam is completely computer-based which means that you will have to mark/type answers on the computer screen. The questions asked in the exam are both objective type and descriptive (Phase 1 is entirely objective and Phase 2 is both). The merit list will be prepared based on the marks obtained in Phase II and Interview.

Now, the question arises, Who Can Appear for the RBI Grade B Exam? Well, we have discussed the eligibility criteria in detail below. But to give you an overview, anybody with Graduation (60% marks) and within the age limit of 21-30 years can apply. It is notable that, freshers can also apply for these posts. Read about detailed Eligibility, Exam Pattern, Phase-wise Cut off, and other details below.

RBI Grade B 2024- Major Highlights

Through the introduction given above, you must have gotten an idea by now about the exam. It is actually that one exam for which aspirants to the level of both UPSC and Banking are eager to appear as it offers a great job opportunity, salary, and promotional prospects, and working with an organization like RBI, the center of all banks, is a wholesome opportunity.

RBI Grade B Notification 2024 Latest Updates

RBI announces the latest vacancy for a Grade B post through a detailed official notification PDF which is released on the official website @rbi.org.in. For the year 2024-25, the RBI Grade B 2024 Notification will be delayed a little bit this year because of Lok Sabha Elections. So, it is expected roughly to be released by the end of May 2024. Once, the notification is released, the cutdown begins and the whole process will be completed within 6 months. So, we would advise you to not wait till the release of the official notification and start preparing seriously.

RBI Grade ‘B’ 2024 Post Details

The RBI Grade B Exam is mainly conducted for 3 posts as listed below:

1. RBI Grade B DR- General
2. RBI Grade B DR- Department of Economic and Policy Research
3. RBI Grade B DR- Department of Statistics and Information Management

For a General post, anybody can apply but for a DEPR/DSIM Post, candidates need to have specific qualification like Masters’s Degree in Economics, Statistics, Mathematics, MBA, etc. Don’t worry we have shared the post-wise qualification in detail below. RBI Grade B Officers conduct research and analysis on various economic and financial issues, contributing to the formulation of policy recommendations and strategic initiatives.

RBI Grade B Vacancy 2024

The RBI Grade B Vacancy 2024 is usually notified along with the official notification. Every year, RBI announces 250+ vacancies (as shown in the table below). This year also, we are expecting vacancies above this number. Also, note that the vacancy is divided according to post and among categories as per reservation policy. The vacancy details will be updated here after the announcement.

How to Apply for RBI Grade B 2024?

To appear for the RBI Grade B 2024 Examination, Candidates need to fill out the application form online as no other modes of application will be accepted. You are required to fill out the application form with utmost care and mindfulness because any mistake can lead to disqualification.

The Application process for RBI Grade progressed in the following stages:

Registration

⇓

Application form Fill Out (Uploading of photo & signature and details fill up)

⇓

Upload of Left Hand Thumb Impression and Handwritten declaration

⇓

Application Fee Payment

⇓

Submit the application form

You will have to provide essential details like phone number, email id, parents’ details, number of attempts, CIBIL Score, Category (if any), academic qualification, experience (not mandatory), selection of exam center, etc. Also, the last stage is to pay the application fee which is mentioned below.

RBI Grade B Application fee

The RBI Grade B Application Fee can be paid online through a debit/credit card, or any other payment gateway as mentioned by RBI. This application fee is non-refundable.

RBI Grade B 2024 Eligibility Criteria

Here, comes the most important part before the online application process which decides whether you can appear for the exam or not. You need to fulfill the mentioned requirements to be able to apply online for the RBI Grade B Exam. The RBI Grade B Eligibility mainly revolves around Nationality, Age limit, and Qualification.

Nationality

The candidate must be a citizen of India or a subject of Nepal or Bhutan, or a Tibetan refugee who is permanently settled in India before January 1, 1962, or a person of Indian origin who has migrated from either Pakistan, Burma, Sri Lanka, Kenya, Uganda, Tanzania, Zambia, Malawi, Zaire, Ethiopia, or Vietnam intending to reside permanently in India.

Age Limit

The RBI Grade B Minimum and Maximum age limit are as shown below along with the age relaxation for the reserved category candidates.

Minimum age limit: 21 years
Maximum age limit: 30 years

Age Relaxation is as per Govt. norms as given below:

Educational Qualifications

Given below are the educational qualification requirements to join RBI as a Grade B officer as per the vacancies in RBI Grade B Recruitment 2024.

Experience Requirement

To become an RBI Grade B Officer, you don’t need to have any prior experience in any field. It means that fresh out of College candidates can also appear for the exam given that they have passed the Gruduation degree before the RBI notification.

Number of attempts

The RBI has specified the number of attempts for each category. Check the number of attempts category-wise below.

• General Candidates: 6 Attempts,
• SC/ ST/ OBC/ PWD Candidates: No bar on the number of attempts.

RBI Grade B 2024 Selection Process

Right within one month of completion of the online application process, RBI will begin with the selection process stages and those who applied will have to appear for these stages. The RBI Grade B Selection Process consists of three stages –

1. Phase I: It comprises objective-type questions on the English language, quantitative aptitude, reasoning, and general awareness. The total number of Marks is 200 and the mode of examination is online. The questions will be set in both Hindi and English and the questions shall be MCQ-based. Candidates must note that this is qualifying in nature and it will not be added to the final merit list.
2. Phase II: Those who qualify the stage 1, will appear for the Phase II Exam. It is divided into three papers covering economic and social issues, English writing skills, and finance and management. The syllabus and exam pattern of Phase 2 varies for General, DEPR, and DSIM posts.
3. Interview: Finally, candidates who clear Phase II are called for the Interview stage. A thorough understanding of the RBI Grade B selection process can help candidates prepare more effectively and increase their chances of success in the exam.

RBI Grade B 2024 Exam Pattern

In this section, we have discussed the RBI Grade B Exam Pattern. Go through the bullet points and tables which contains the details of the Phase 1 and 2 Exam Pattern.

1. The RBI Grade B Prelims exam will be 200 marks with a total time duration of 120 minutes.
2. There will be a specific sectional duration which will be mentioned in the admission letter.
3. There will be four main sections.

The candidates who qualify for the Prelims will be eligible to appear for the mains exam or Phase 2.

1. There are three separate papers in the main exam.
2. For RBI Grade B Officers in Gr B (DR)- General, candidates have to appear for papers I, II, and III.
3. For RBI Grade B Officers in Gr B (DR)- DEPR & DSIM, candidates have to appear for papers II and III.
4. Paper I & III are 50% Objective & 50 % descriptive while Paper- II is Descriptive only.
5. Each paper will be 100 marks.
6. The English paper is a descriptive test.

Candidates will be shortlisted for the interview, based on aggregate marks obtained in Paper I, Paper II, and Paper III of the Phase II exam. The interview process will carry 75 marks.

RBI Grade B 2024 Syllabus

After learning about the exam pattern, the next step is to go deeper and break the syllabus into small parts to start with your preparation. So, the RBI Grade B Syllabus holds very important to clear the exam stages. The syllabus for the RBI Grade B examination is comprehensive and covers a wide range of topics relevant to the banking, economic, and financial sectors. Most of the subjects included in the syllabus are:

For Phase 1 Exam:

The RBI Grade B Phase 1 Exam consists of the following subjects. The General Awareness section includes related to the Banking & Financial sector, Current Affairs of national and international importance, Acquisition & Mergers, etc. If you are a banking aspirant then you will see that the questions asked from Quantitative Aptitude, Reasoning, and English language are the Mains Exam level of Bank exams.

1. General Awareness
2. Quantitative Aptitude
3. English Language
4. Reasoning

For Phase II Exam:

Phase 2 is divided into 3 papers as shown in the exam pattern. The subjects that are included in the exam are:

1. Economic and Social Issues: Growth & Development, Indian Economy, Globalisation, Social Structure)
2. Finance and Management: Financial System, Financial Markets, Management, Ethics at workplace, Accounts)
3. English Descriptive (which involves essay, precis writing)

RBI Grade B Previous Year Question Paper

RBI Grade B Previous Year Papers are an essential resource for aspirants preparing for the prestigious RBI Grade B exam. These papers provide insight into the exam pattern and help aspirants familiarize themselves with the types of questions asked. By practicing previous year’s papers, candidates can identify their strengths and weaknesses, and improve their time-management skills. With our comprehensive collection of RBI Grade B Previous Year Papers, candidates can boost their preparation and increase their chances of success in the exam. Start practicing today to ace the RBI Grade B exam!

RBI Grade B Salary and Job Profile

From the viewpoint of banking aspirants, the most attractive point about RBI Grade B Officer post is the RBI Grade B salary that it offers to newcomers. The candidates selected for the post of Officer through the RBI Grade B 2024 Exam will be given a salary of 12-14 Lac annually. The Exact Pay Scale for the RBI Grade B Officer is Rs 55,200-2850(9)-80850-EB-2850(2)-86550-3300(4)-99750. Candidates will have a Basic Pay of Rs. 55,200/- in which he/she will get an increment of Rs. 2850/- till nine years of their service.

After the completion of these nine years, the officers will get into the executive band wherein the basic pay will increase to Rs. 80,850/- and then again for the next two years there will be an increment of Rs. 2850/- and further an increment of Rs. 3300/- for the following 4 years. Thus a candidate will end up with the basic pay of Rs. 99,750/- and this is when he/she doesn’t even go through any promotion.

Apart from the Basic Pay, multiple allowances such as Dearness Allowance, House Rent Allowance, Family Allowance, Telephone Allowance, Conveyance Allowance, etc. are also provided to candidates after they join the post of Officer in RBI.

What are the Duties of an RBI Grade ‘B’ Officer?

The job profile of Grade B Officer is as interesting as its salary. After becoming an grade b officer, candidates will be put into 2 years of probationary period and their performance will be assessed. Here, are some of the duties that the grade b manager is required to perform.

1. They have to assist the central bank in managing the designated departments, collect data and analyse.
2. Selected candidates are liable to be posted and transferred anywhere in India.
3. They are responsible for managing the country’s currency supply, including issuing currency notes and coins, monitoring circulation, and combating counterfeiting activities.
4. They also perform administrative tasks related to their roles, such as preparing reports, conducting meetings, and coordinating with other departments within the RBI.

How to Prepare for RBI Grade B Exam?

Now, you know everything about the RBI Grade B Exam, you last question will be “How to prepare for such a highly coveted exam?” Well, we can help you there as well. At Adda247, we provide comprehension preparation tips and tools to prepare for the exam. Along with that, you will get valuable guidance from our experienced mentors. You can join our mock test series or download the RBI Grade PYPs through link shared above.

So, if you have made up your mind to become an RBI Grade B Officer, then you must follow these steps given below. Only a 1.5 month gap is there between the date of the online application and the Phase I exam generally. Here, are some of the most important points that the candidate should keep in mind while preparing for the exam:

1. Go through the entire RBI Grade B Latest syllabus and the Previous Year Question papers. It will help in giving you an idea of what is asked in the exam.
2. After that, sort out all the chapters that are there in Economic and Social Issues, and Finance & Management. Make a study plan to cover all the chapters thoroughly.
3. Focus on Current Affairs, Government Schemes, RBI Reports and Indices, and other topics important from the exam point of view.
4. Also, keep practicing questions for Quantitative Aptitude, Reasoning, English, and Current Affairs.
5. Join a Mock Test series to assess your preparation on a real-time basis.
6. Have the confidence that you will clear the exam and be consistent with your preparation.

Sharing is caring!