RBI Assistant Salary 2023

RBI Assistant Salary 2023

RBI Assistant Salary 2023: Working in the Reserve Bank of India (RBI) is a dream for every other Bank Exam Aspirant in India. But only the ones who study persistently, ultimately succeed and join the most reputed organizations in the country. Apart from the many advantages like a high-esteemed job profile, great opportunities for career growth and a lavish lifestyle, the post of an RBI Assistant offers you work-life balance and an opportunity to work in your home state. In this blog, we would give you complete information about the salary structure of RBI Assistant, Job Profile, Promotions, Career Growth & Place of Posting as given in the 2023 notification. For your information, the 7th pay commission has no role to play in the RBI Assistant Salary.

RBI Assistant Salary 2023 – Revised Salary 

Service Conditions and Career Prospects – Read Below

I. RBI Assistant Salary 2023 – Pay Scale:

Assistants will draw basic salary on the scale of ₹ 20700 – 1200 (3) – 24300 – 1440 (4) - 30060 – 1920 (6) – 41580 – 2080 (2) – 45740 – 2370 (3) – 52850 – 2850 – 55700 (20 years) and other allowances, viz. Dearness Allowance, House Rent Allowance, City Compensatory Allowance, Transport Allowance, etc., as admissible from time to time.

The gross pay will be around Rs. 45,050 Approx(May vary with the level of experience). The in-hand salary of any RBI Assistant is Rs. 40,000/- per month (Approx).

*House Allowance of 15% of Pay will be paid to employees additionally if they are not staying in Bank's accommodation.

Note: The deduction depends on how much experience and increased scale of an RBI Assistant. The salary may vary according to different zones.

II. RBI Assistant Salary 2023 – Perquisites:

Perquisites: A benefit which one enjoys or is entitled to on account of one's job or position.

• Accommodation – Bank's accommodation subject to availability, reimbursement of expenses for maintenance of vehicle for official purpose, Newspaper, Briefcase, Book Grant, Allowance for furnishing of residence, etc. as per eligibility.
• Medical Facilities – Dispensary facility besides reimbursement of medical expenses for OPD treatment/hospitalization as per eligibility;
• Travel Fare Reimbursements – Interest-free Festival Advance, Leave Fare Concession (once in two years for self, spouse, and eligible dependents).
• The facility of Loans – Loans and Advances at concessional rates of interest for Housing, Car, Education, Consumer Articles, Personal Computer, etc. will be available to regular employees who will put in at least two years of service.
• Pension – The recruits will be governed by the Defined Contribution New Pension Scheme, in addition to the benefit of Gratuity.

III. RBI Assistant Place of Posting

Selected candidates will be initially posted in RBI's office within the Recruitment Zone for which they had applied. However, they are liable to be transferred in administrative exigencies to centers grouped and classified into West, South, North, and East Zone offices as under:

1. West Zone: Ahmedabad, Bhopal (including Raipur), Mumbai (including Belapur, Pune, and Panaji), Nagpur.
2. South Zone: Bengaluru, Chennai, Hyderabad, and Thiruvananthapuram (including Kochi).
3. North Zone: Chandigarh (including Shimla), Jaipur, Jammu / Srinagar, Kanpur, (including Lucknow & Dehradun), New Delhi.
4. East Zone: Bhubaneswar, Guwahati (including all North Eastern states excluding Gangtok), Kolkata (including Gangtok), Patna (including Ranchi).

IV. RBI Assistant 2023– Other Perks and Allowances

The perks of getting a job in the RBI Assistant post are numerous.

• Selected candidates are eligible for House Rent Allowances, Dearness Allowance, Transport Allowance, and City Compensatory Allowance.
• Housing accommodation
• Allowance for furnishing your residence (as per eligibility).
• Book grant, newspaper, and briefcase
• Reimbursement of vehicle maintenance expenses (used for the official purpose)
• Reimbursement of medical expenses for hospitalization and OPD treatment
• Leave Travel Concessions for the employee's family once every two years
• Interest-free Festival Advance
• Advances and loans at concessional interest rates for car, housing, education, personal computer, consumer articles etc.
• The working hours are fixed and comfortable: 5 days a week.

Owing to an excellent pay scale and numerous other perks and benefits, lakhs of candidates take up the RBI Assistant exam every year.

RBI Assistant Salary 2023 - In Hand Salary & Allowances

The in-hand salary of any RBI Assistant is Rs. 40,000/- per month (Approx).

RBI Assistant 2023 – Job Profile

RBI Assistant is basically a clerical level post in various regional offices of RBI located in the state capitals (mostly). The job responsibilities of an RBI Assistant include:

1. Maintaining files – It includes a collection of receipts, maintaining of Ledger, Balance tally, etc.
2. Data Entry – Entering of day-to-day transactions (Computer-based working)
3. Replying and maintaining Email logs
4. Responding to RTI Queries
5. Currency Issue & Circulation
6. Verification of Banking Documents
7. Attending to the Government Treasury Work
8. Coordinating with the higher authorities in terms of work.

RBI Assistant 2023– Career Growth Prospects

1. There are reasonable prospects for promotion to higher grades.
2. Once a candidate joins RBI as an assistant, he/she will get multiple chances to get promoted to the higher-level posts.
3. All the candidates who wish to get promoted to the officer level need to apply for the promotion test and appear for the examination and pass it as well.
4. But before that one has to undergo a service period of a minimum of 2 years to become eligible for promotion to Officer Cadre.
5. Promotions are conducted at a period of every 2 years wherein RBI Assistants have the opportunity to be a part of it. There are two processes for an assistant to get promoted to a Grade A officer level:
   • Normal process: The employee has to qualify written exam and on the basis of his experience and seniority in the services of a bank, he/she will be selected as an Officer.
   • Merit basis process: Two-year service (minimum) as a clerk with a JAIIB and CAIIB diploma conducted by the Indian Institute of Banking and Finance (IIBF) is a must with a graduate/post-graduate degree

RBI Assistant Salary 2023 - Increment:

Here is the basic salary of RBI Assistant along with the increment for every year of services.

Scales of RBI Officer Cadre

There are four scales in Officer cadre:

1. Scale 1 – Officer / Assistant Manager (Grade A)
2. Scale 2 – Manager (Grade B)
3. Scale 3 – Senior Manager (Grade C)
4. Scale 4 – Chief Manager (Grade D)

5 Reasons You Should Consider Picking Up RBI Assistant

Here are 5 reasons why you should pursue your career as an RBI Assistant as well.

• Salary
• Allowance
• Easy availability of loans
• Transfer and posting
• Career progression

1. Salary

Assistants will draw a starting basic pay of ₹ 20,700/- per month in the scale of ₹ 20700 – 1200 (3) – 24300 – 1440 (4) - 30060 – 1920 (6) – 41580 – 2080 (2) – 45740 – 2370 (3) – 52850 – 2850 – 55700 (20 years) 

Allowances

Apart from the salary, RBI Assistants also receive periodic allowances to help them through the expenses in their daily life. These employees receive house rent allowance, dearness allowance, transport allowance, city compensatory allowance, and many more. While some of these allowances are received regularly, such as the dearness allowance, others are often handed out after certain intervals of time, such as the city compensatory allowance.

Easy availability of loans

RBI Assistants can easily get loans from banks for a number of reasons. For instance, housing loans, car, and education loans are available at convenient interest rates to RBI employees. This helps in seeking financial assistance if the need arises.

Transfers and postings

RBI Assistants do not get transferred till they complete at least 5 years of their service at one particular branch. This means that people with families have to move a lot lesser than their counterparts employed in other banks. Similarly, since RBI branches are only present in big, metro cities, the postings will always be in urban centers and not in remote villages.

Career progression

RBI Assistants can progress fast up the organizational ladder if they wish. These employees can appear for an internal examination for RBI Officer posts after serving just 2 years as an Assistant. If they manage to clear the examination, they will not only get a pay hike but will also be liable to receive better facilities and perks from the bank.

After completing two years of the service periods as an RBI Assistant, if you qualify for the examination, you will be promoted to be Grade A Officer or the Assistant Manager, which is the lowest grade in the hierarchy of Officer Cadre. After that, if you apply again for the promotion test, you will be promoted to Grade B or Managerial Level, then likewise to Grade C or Assistant General Manager, Grade D or Deputy General Manager, Grade E or General Manager, and finally to Grade F or Deputy Governor