Exam: RBI Assistant Examination
Eligibility:
- Age- 18 to 28 years
- Bachelor’s Degree in any discipline with a minimum of 50% in aggregate and knowledge of word processing on PC.
A job in RBI is very different when compared to jobs in other banks. Most banks that operate in the economy, have to deal with people on a daily basis. However, RBI’s interaction with public at largely in its Currency Division, which is tasked with circulating currency notes and taking back torn notes. So what exactly does working at the RBI entail?
To know more about what do RBI Assistants exactly do, I asked a friend working as an Assistant in Reserve Bank of India (RBI) for a year now. His prompt reply was that RBI is a ‘knowledge institution’. This statement sums up what RBI, the Bankers’ Bank is known for.
What does the RBI do?
RBI’s role is regulatory in nature, which means it gives guidelines on how to implement monetary policies. These policies are formed by RBI itself. Monetary policies help in effective functioning of the banking sector. It also keeps a check on banks when it comes to complying with rules laid down regarding loans, interest rates, and other policy issues.
Your first job at the RBI
One of the positions that RBI offers is in the Clerical Cadre (Class III) as Assistant. The basic task of Assistants is to prepare notes, which can be defined as an internal communication on the basis of which decisions are taken. It is the responsibility of an Assistant to get approvals from officers on those set of communications. RBI also organises training programs on a regular basis so that its employees are able to better understand latest trends in the financial world. An Assistant in RBI is a 9 to 5 job that gives you a certain level of job satisfaction. The RBI works 5 days a week.
Growth in the RBI / Career path in the RBI
The best part about an organisation like the RBI is that your career graph does not stagnate at the clerical cadre. RBI believes in encouraging talent within the organisation. If you are ready to learn on the job, you can become an Assistant General Manager (AGM), a mid-level officer. After three years of service, an Assistant is eligible to give exams for Officers Grade ‘A’ for AGMs (Class II) Thereafter, promotions for higher ranks are given on the basis of an exam and an interview.
If one wants to continue in the Clerical Cadre, the next advancements in career are- Special Assistant and Senior Assistant.
Where will you be working / benefits?
RBI offices are located in metro cities, so the facilities provided are according to standard of living of such cities. RBI Assistants are provided with accommodation facilities in the place of their posting. House Rent Allowances (HRA) and other perks are also offered.
- Basic pay: Rs. 8,860/- per month (i.e. Rs. 8,040/- plus two advance increments admissible to graduates only).
- Pay scale: Rs. 8,040 – 410 – 9270 – 500 – 11,270 – 550 – 13,470 – 650 – 15,420 – 720 – 16,140 – 990 – 20,100 (20 years).
- Allowances: It includes Dearness Allowance, House Rent Allowance, City Compensatory Allowance, Transport Allowance etc., as admissible from time to time.
- Total emoluments are about Rs 2,90,000/-.