RBI Grade B 2024 Notification: Eligibility, Exam Pattern, and Latest Updates
The Reserve Bank of India (RBI) is set to release the notification for the RBI Grade B 2024 recruitment. This highly anticipated announcement will be available in newspapers starting from July 18, 2024, and will include detailed information about eligibility criteria, the selection process, syllabus, salary, and job profiles. Aspiring candidates should start preparing immediately to ensure ample time for study and revision.
Notification Overview
The official notification for the RBI Grade B 2024 will be released on July 18, 2024, on the RBI’s official website. The selection process for the recruitment will be conducted in three stages: prelims, mains, and interview. Candidates must hold a graduation degree in any discipline with a minimum of 60% marks. Post recruitment, candidates will undergo a training period of 15 weeks followed by a probation period of 2 years.
Important Dates
The notification will be released on July 18, 2024, and the Phase 1 examination is scheduled for the last week of August 2024 or the first week of September/October 2024. The entire recruitment process is expected to be completed within six months.
Eligibility Criteria
Age Limit
Candidates must be at least 21 years old as of January 1, 2024, with a maximum age limit of 30 years.
Educational Qualifications
- General: A graduation/post-graduation degree in any discipline or an equivalent technical/professional qualification with a minimum of 60% marks (50% for SC/ST/PwBD applicants). For post-graduation, a minimum of 55% marks (pass marks for SC/ST/PwBD applicants).
- DEPR (Department of Economic and Policy Research): A Master’s Degree in Economics or Finance with a minimum of 55% marks or an equivalent grade.
- DSIM (Department of Statistics and Information Management): A Master’s Degree in Statistics/Mathematical Statistics/Mathematical Economics/Econometrics/Statistics & Informatics/Applied Statistics & Informatics with a minimum of 55% marks or equivalent grade.
Selection Process
The selection process consists of three stages:
- Phase I (Preliminary Exam): This stage includes objective-type questions on English language, quantitative aptitude, reasoning, and general awareness. The exam is online and qualifying in nature, meaning the marks will not be added to the final merit list.
- Phase II (Mains Exam): Candidates who qualify for Phase I will take the Phase II exam, which is divided into three papers covering economic and social issues, English writing skills, and finance and management.
- Interview: Candidates who clear Phase II are called for an interview, which carries 75 marks.
Exam Pattern
Phase I Exam
The Phase I exam is worth 200 marks and has a duration of 120 minutes. It includes four main sections: General Awareness, Quantitative Aptitude, English Language, and Reasoning.
Phase II Exam
For General posts, the Phase II exam includes three separate papers: Economic & Social Issues, English Writing Skills, and Finance & Management. Papers I and III are 50% objective and 50% descriptive, while Paper II is entirely descriptive.
- Paper I: Economic & Social Issues (Objective: 30 minutes, 50 marks; Descriptive: 90 minutes, 50 marks)
- Paper II: English (Writing Skills) (Descriptive: 90 minutes, 100 marks)
- Paper III: Finance and Management (Objective: 30 minutes, 50 marks; Descriptive: 90 minutes, 50 marks)
Syllabus
Phase I Syllabus
- General Awareness: Banking and financial sector, current affairs of national and international importance, acquisitions and mergers.
- Quantitative Aptitude, Reasoning, and English Language: Topics similar to those in the main bank exams.
Phase II Syllabus
- Economic and Social Issues: Growth and development, Indian economy, globalization, social structure.
- Finance and Management: Financial system, financial markets, management, ethics at the workplace, accounts.
- English Descriptive: Essay, precis writing.
Application Process
The application process is conducted online and involves several steps:
- Registration: Candidates must register on the official RBI website.
- Application Form: Fill out the application form with required details and upload necessary documents such as a photo, signature, left-hand thumb impression, and handwritten declaration.
- Application Fee: Pay the application fee using online payment options.
- Submission: Review the details carefully and submit the application form.
Application Fee
- SC/ST/PWD: Rs. 100 plus GST
- Gen/OBC/EWS: Rs. 850 plus GST
- RBI Staff: Nil
Salary and Job Profile
The salary for an RBI Grade B officer is highly attractive, with a gross monthly salary of approximately Rs. 1,16,914. The pay scale is Rs. 55,200-2850(9)-80850-EB-2850(2)-86550-3300(4)-99750. This includes various increments and allowances such as house rent allowance and fuel reimbursement.
Job Profile
RBI Grade B officers are responsible for managing designated departments, collecting and analyzing data, and contributing to policy recommendations and strategic initiatives. Their duties include currency management, administrative tasks, and preparation of reports. They may be posted and transferred anywhere in India.
Preparation Tips
- Review the syllabus and previous year question papers to understand the exam pattern and types of questions asked.
- Focus on key subjects such as Economic and Social Issues, Finance and Management, and English descriptive writing.
- Stay updated with current affairs, government schemes, RBI reports, and indices.
- Practice regularly for Quantitative Aptitude, Reasoning, English, and General Awareness.
- Join mock test series to assess your preparation and improve time-management skills.
Previous Year Cut Off
Phase I Cut Off Marks
- 2023: General Awareness: 12, Reasoning: 9, English Language: 4.5, Quantitative Aptitude: 4.5, Overall: 54.25
- 2022: General Awareness: 12, Reasoning: 9, English Language: 4.5, Quantitative Aptitude: 4.5, Overall: 63.75
- 2021: General Awareness: 16, Reasoning: 12, English Language: 6, Quantitative Aptitude: 6, Overall: 66.75
Phase II Cut Off Marks
- 2023: Aggregate Written Exam: 169, Total Marks: 229
- 2022: Aggregate Written Exam: 171.25, Total Marks: 234.5
- 2021: Aggregate Written Exam: 187.75, Total Marks: 252.25
Exam Centers
The exam will be conducted at various centers across India, including major cities such as Delhi, Mumbai, Kolkata, Chennai, and others. Candidates can choose their preferred exam centers during the application process.
Conclusion
The RBI Grade B 2024 recruitment process is an excellent opportunity for aspirants aiming to work with the Reserve Bank of India. With a detailed understanding of the eligibility criteria, selection process, exam pattern, and syllabus, candidates can prepare effectively and increase their chances of success. Starting preparation early, staying updated with current affairs, and practicing regularly are key to cracking this prestigious exam.