The Reserve Bank of India has announced the recruitment notification for Grade B officers for 2020-21. A total of 322 vacancies for various posts have been notified. This is one of the biggest news of 2021 for aspirants preparing for bank jobs. All the candidates who want to apply for these posts may find the notification below.
RBI Grade B 2021 Vacancy
The Reserve Bank of India Services Board (Board) invites applications from eligible candidates for the post mentioned below in Reserve Bank of India (RBI/Bank):
| Posts | Number of Vacancies | |||||
| Unreserved i.e., General (GEN/UR) | Scheduled Castes (SC) | Scheduled Tribes (ST) | Other Backward Classes (OBC) $ | EWSs@ | TOTAL | |
| 1. Officers in Grade ‘B’(DR)- General | 108 | 49 | 27 | 59 | 27 | 270^ |
| 2. Officers in Grade ‘B’(DR)- DEPR | 13 | 5 | 3 | 6 | 2 | 29^^ |
| 3. Officers in Grade ‘B’(DR)- DSIM | 9 | 5 | 5# | 3 | 1 | 23^^^ |
Download Official Notification
RBI Grade B 2021: Mode of Application:
Candidates are required to apply ONLINE only through the Bank's website www.rbi.org.in. No other mode for submission of application is available. Brief Instructions for filling up the "Online Application Form" are given in Appendix-I: (i) Online applications for Gr B – (DR) – GENERAL/DEPR/DSIM – 2021
RBI Grade B 2021: Important Dates
The RBI Grade B recruitment advertisement also released the important dates for the various posts under it. The students must mark these dates in their calendar for future reference.
| Events | Important Dates** | |
| Website Link Open For Online Registration of Applications and Payment of Fees/Intimation Charges | January 28, 2021 to February 15, 2021 | |
| 1. Officers in Gr B (DR)- General | Phase-I – Online Examination | March 6, 2021$ |
| Phase-II – Paper I, II & III Online Examination | April 1, 2021 | |
| 2. Officers in Gr B (DR) – DEPR* | Phase I - Paper - I - Online Examination | March 6, 2021 |
| Phase II - Paper - II & III Online/Written Examination | March 31, 2021£ (To be confirmed in Admit cards) | |
| 3. Officers in Gr B (DR)- DSIM@ | Phase I - Paper - I - Online Examination | March 6, 2021 |
| Phase II - Paper - II & III Online/Written Examination | March 31, 2021£ (To be confirmed in Admit cards) | |
| *Department of Economic and Policy Research, @ Department of Statistics and Information Management ** The Board reserves the right to make any change in these dates. $ Candidate will have to appear in only one shift of Phase-I examination. £ Candidate will have to appear in all the shifts of Phase ll / Paper II & Ill examination. | ||
RBI Grade B 2021 Salary
Pay Scale: Selected Candidates will draw a starting basic pay of ₹35,150/-p.m. in the pay scale of Rs. 35150-1750(9)-50900-EB-1750 (2) - 54400-2000(4)-62400 (16 years) applicable to Officers in Grade B and they will also be eligible for Dearness Allowance, Local Allowance, House Rent Allowance, Family allowance and Grade Allowance as per rules in force from time to time. At present, initial monthly gross emoluments are ₹83254/- (approx) The House Allowance of 15% of Basic Pay will be paid, if accommodation is not provided by the Bank.
A candidate must have attained the age of 21 years and must not have attained the age of 30 years on the 1st of January 2021 i.e., he/she must have been born not earlier than 2nd January 1991 and not later than 1st January 2000. For candidates possessing M.Phil. and Ph.D. qualification, upper age limit will be 32 and 34 years respectively.
RBI Grade B 2021 Minimum Educational Qualification
The following minimum educational qualifications are prescribed for the posts:
| Posts | Minimum Educational Qualifications (as on 1st of January 2021): |
| 1. Officers in Grade 'B' (DR) - (General) | • Graduation in any discipline /Equivalent technical or professional qualification with minimum 60% marks (50% for SC/ST/PwBD applicants) or Post-Graduation / Equivalent technical qualification with minimum 55% marks (pass marks for SC/ST/PwBD applicants) in aggregate of all semesters / years. |
| Note: | |
| • Any such full-time course from a recognised University / Institute that is taken after Class XIIth and is at least of 3 years’ duration/ candidates possessing professional and technical qualifications which are recognised by the Government as equivalent to professional and technical graduation will be eligible for admission to the examination. | |
| • Candidates who have passed the Final Examination for Membership of the Institute of Chartered Accountants of India may also apply for the post. | |
| OR | |
| • Any such full-time course from a recognised University / Institute that is taken after graduation and is at least of 2 years’ duration / recognised by the Government as equivalent to post graduation will be eligible for admission to the examination. | |
| 2. Officers in Grade 'B' (DR) - DEPR | Essential: |
| a. A Master's Degree in Economics / Econometrics / Quantitative Economics / Mathematical Economics / Integrated Economics Course/ Finance, with a minimum of 55% marks or an equivalent grade in aggregate of all semesters /years from a recognised Indian or Foreign University /Institute; OR | |
| b. PGDM/ MBA Finance with a minimum of 55% marks or an equivalent grade in aggregate of all semesters /years from a recognised Indian or Foreign University /Institute; OR | |
| c. Master’s Degree in Economics in any of the sub-categories of economics i.e. agricultural/ business/ developmental/ applied, etc., with a minimum of 55% marks or an equivalent grade in aggregate of all semesters /years from a recognised Indian or Foreign University /Institute. | |
| Note: SC, ST and PwBD candidates having second class with a minimum of 50% marks or equivalent grade in aggregate of all semesters / years in Master's Degree examination or equivalent recognized qualifications are eligible to apply. | |
| Desirable: A Doctorate Degree in Economics or research or teaching experience in Economics or publications in standard journals would be considered as an additional qualification. | |
| Candidates having M.Phil. Degree and Doctorate Degree from a recognized Indian/Foreign University/Institute in the specified subjects will be eligible for relaxation in the upper age limit by 2 years and 4 years respectively. | |
| d. (i) Candidates having Master's Degree with Research/Teaching experience at a recognized Indian/Foreign University/ Institute will be eligible for relaxation in upper age limit to the extent of number of years of such experience subject to a maximum of three years. For experience, probationary period will not be reckoned. | |
| (ii) The above age relaxations will not be cumulatively available with age relaxations available to various categories as mentioned in Para 3 II (b) above. | |
| 3. Officers in Grade 'B' (DR) - DSIM | Essential: |
| a. A Master's Degree in Statistics/ Mathematical Statistics/ Mathematical Economics/ Econometrics/ Statistics & Informatics from IIT-Kharagpur/ Applied Statistics & Informatics from IIT-Bombay with a minimum of 55% marks or equivalent grade in aggregate of all semesters / years; OR | |
| b. Master's Degree in Mathematics with a minimum of 55% marks or an equivalent grade in aggregate of all semesters / years and one year post graduate diploma in Statistics or related subjects from an Institute of repute; OR | |
| c. M. Stat. Degree of Indian Statistical Institute with a minimum of 55% marks in aggregate of all semesters / years; OR | |
| d. Post Graduate Diploma in Business Analytics (PGDBA) jointly offered by ISI Kolkata, IIT Kharagpur and IIM Calcutta with a minimum of 55% marks or equivalent grade in aggregate of all semesters/years. | |
| Note: For SC, ST and PwBD candidates, the minimum marks required in Master’s Degree as in items (a), (b), (c) and (d) above is 50% or an equivalent grade in aggregate of all semesters/ years. | |
| Desirable: (i) Candidates with a Doctorate in topics related to above subjects will be given preference. (ii) Research or teaching experience and publication in standard journals will be considered as an additional qualification. | |
| Note: (i) Candidates possessing M.Phil. and Ph.D qualification in the specified subjects will be eligible for relaxation in upper age limit by 2 years and 4 years respectively. | |
| (ii) Candidates with research / teaching experience at a recognized Indian / Foreign University/Institute will be eligible for relaxation in upper age limit to the extent of number of years of such experience subject to a maximum of three years. For experience, probationary period will not be reckoned. | |
| (iii) The above age relaxations will not be cumulatively available with age relaxations available to various categories as mentioned in Para 3 II (b) above. |
RBI GRADE B 2021 APPLICATION FEE AND INTIMATION CHARGES:
| Sr. No. | Category | Charges | Amount* |
| 1. | SC/ST/PwBD | Intimation Charges only | ₹ 100/- |
| 2. | GEN/OBC/EWSs | Application fee including intimation charges | ₹ 850/- |
| 3. | STAFF@ | Nil | Nil |
| *Bank/Transaction charges are to be borne by the candidate. | |||
RBI Grade B 2021 SCHEME OF SELECTION: Selection for the aforementioned posts will be done through ONLINE examinations in Phase - I and Phase - II and interview. Detailed scheme of selection is given at Appendix - II (Gr. B(DR)-General) / Appendix - Ill (Gr. B (DR)-DEPR) and Gr. B (DR)-DSIM) which are available on the Bank's website www.rbi.org.in. The Centres where the examinations will be held are given below:
(I) Phase-I online Examination (Objective Type): This will comprise a single Paper for 200 marks and will be held on March 6, 2021. Depending on the
number of candidates, the examination may be held in multiple shifts and on some other days also. A
candidate, however, must appear for examination in only one shift on the given day. The date, time
and venue on which a candidate has to appear for examination will be specified in the Admission Letter
(AL) to be downloaded by the candidate from our website (www.rbi.org.in). The ‘corrected-scores’
obtained by each of the candidates in different sessions (if held) will be normalized using equipercentile
method. (If the examination is held in more than one session, the scores across various sessions will
be equated following IBPS’ standard practice to adjust for slight differences in difficulty level of different
test batteries used across sessions.)
a) The Paper will consist tests of
i. General Awareness
ii. English Language
iii. Quantitative Aptitude and;
iv. Reasoning
A total time of 120 minutes will be given for answering. However, separate time will be allotted for each test. Other detailed information regarding the examination will be given in an Information Handout, which will be made available for the candidates to download along with the Admission letter for examination from the RBI website.
Candidates have to secure minimum marks separately for each test as well as in aggregate, as may be prescribed by the Board.
Candidates, who secure minimum marks separately for each Test, as prescribed, will be shortlisted for Phase-II of the examination based on the aggregate marks obtained in Phase-I. The minimum aggregate cut-off marks for being shortlisted for Phase-II of the examination will be decided by the Board in relation to the number of vacancies. Roll No. of the candidates shortlisted for Phase-II examination will be published on RBI web-site, tentatively within a week after Phase-I examination.
(II) Phase-II online Examination: The Phase-II online Examination will be conducted on April 1, 2021
only for the candidates who are shortlisted on the basis of results of Phase-I and based on the
cut-off decided by the Board. The Phase-II examination will be in shifts. Candidates are required
to appear for all shifts. Separate Admission Letters will be issued for each shift. The time-table for
Phase-II will be intimated to the candidates concerned along with Admission Letter for Phase-II.
Phase–II online examination will consist of three papers as under:
(III) Interview: : Candidates will be shortlisted for the interview, based on aggregate of marks obtained
in Phase-II (Paper-I +Paper-II +Paper-III). The minimum aggregate cut off marks for being
shortlisted for Interview will be decided by the Board in relation to the number of vacancies. Roll
No. of the candidates shortlisted for interview will be published on RBI website at appropriate time
and interview call letters will be sent on registered email ID. Interview will be of 75 marks.
Candidate shall be required to undergo Psychometric Test conducted by the Bank before
appearing for the Interview. No marks will be allotted for the same and this will not form part of the
final selection criteria. Candidate may opt for interview either in Hindi or English. Final Selection
will be through merit list which will be prepared by adding marks secured by candidates in Phase
II examination and interview and grace marks as applicable as per extant rules.
RBI Grade B 2021 SYLLABI (Phase-II) Paper-I - Economic and social Issues:
Growth and Development – Measurement of growth: National Income and per capita income – Poverty Alleviation and Employment Generation in India – Sustainable Development and Environmental issues.
Economic Reforms in India – Industrial and Labour Policy – Monetary and Fiscal Policy – Privatization – Role of Economic Planning.
Globalization – Opening up of the Indian Economy – Balance of Payments, Export-Import Policy – International Economic Institutions – IMF and World Bank – WTO – Regional Economic Co-operation.
Social Structure in India – Multiculturalism – Demographic Trends – Urbanization and Migration – Gender Issues – Social Justice : Positive Discrimination in favor of the under privileged – Social Movements – Indian Political System – Human Development – Social Sectors in India, Health and Education.
Paper-II -English (Writing Skills): The paper on English shall be framed in a manner to assess the writing skills including expression and understanding of the topic.
Paper-III -Finance and Management:
(I) Finance
(a) Financial System
1. Regulators of Banks and Financial Institutions
2. Reserve Bank of India- functions and conduct of monetary policy, Banking System in India, Financial Institutions – SIDBI, EXIM, NABARD, NHB, etc.
(b) Financial Markets
Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), functions, instruments, recent developments.
(c) General Topics
1. Risk Management in Banking Sector
2. Basics of Derivatives: Forward, Futures and Swap
3. Changing Landscape of Banking sector
4. Recent Developments in the Financial Sector, Portfolio Investment, Public Sector Reforms, Disinvestments
5. Financial Inclusion- use of technology
6. Alternate source of finance, private and social cost-benefit, Public-Private Partnership
7. Corporate Governance in Banking Sector, role of e-governance in addressing the issues of corruption and inefficiency in the government sector.
8. The Union Budget – Direct and Indirect taxes; Non-tax sources of Revenue, GST, Thirteenth Finance Commission and GST, Finance Commission, Fiscal Policy, Fiscal Responsibility and Budget Management Act (FRBM),
9. Inflation: Definition, trends, estimates, consequences, and remedies (control): WPI, CPI - components and trends
(II) Management:
Management: its nature and scope; The Management Processes; Planning, Organisation, Staffing, Directing and Controlling; The Role of a Manager in an Organisation. Leadership: The Tasks of a Leader; Leadership Styles; Leadership Theories; A successful Leader versus an effective Leader. Human Resource Development: Concept of HRD; Goals of HRD; Performance Appraisal – Potential appraisal and development – Feedback and Performance Counselling – Career Planning – Training and Development – Rewards – Employee Welfare. Motivation, Morale and Incentives: Theories of Motivation; How Managers Motivate; Concept of Morale; Factors determining morale; Role of Incentives in Building up Morale. Communication: Steps in the Communication Process; Communication Channels; Oral versus Written Communication; Verbal versus non-verbal Communication; upward, downward and lateral communication; Barriers to Communication, Role of Information Technology. Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate Governance.
SCHEME OF SELECTION FOR OFFICERS IN GR B (DR)-DEPR /DSIM:
A. Officers in Grade 'B' (DR) – DEPR-2021- Job Requirement, Scheme of Selection and syllabus
(i) Job Requirements: Primarily to undertake economic analysis and research and contribute to policy
formulation, apart from compilation of data relating to select sectors
ii)Scheme of Selection:
Selection will be through Online/ Written Examination (WE) and interview. There are 3 papers for the
Examination. Paper I Objective Type (on Economics) to be held on March 6, 2021 and Paper II &
III will be held separately on March 31, 2021 (date to be confirmed in admit cards).
(iii) Paper – II and III online/Written Examination: : The Paper II and Paper III Examination will
be conducted on March 31, 2021, only for the candidates who are shortlisted on the basis of
results of Paper-I. The Paper II and Paper III examination will be in shifts. Candidates are
required to appear for all shifts. Separate Admission Letters will be issued for each shift. The
time-table for Paper II and Paper III will be intimated to the candidates concerned along with
Admission Letter for Paper II and Paper III.
(iv) Question papers for 'WE' will be set in Hindi and in English (except Paper-III on English). Answers for Paper-II may be written either in Hindi or English. Paper-III will have to be answered in English only. Candidates may opt for interview in Hindi or English.
(v) The number of candidates to be called for interview will be decided by the Board.
(vi) Final selection will be on the basis of performance in the 'WE' (Paper I, II and III) and interview taken together.
(vii) Syllabi: (i) Standard of papers on Economics would be that of Master's Degree examination in Economics of any Central University in India. (ii) Syllabus for English: Essay, Précis writing, Comprehension and Business/Office Correspondence.
(viii) Suggested reading material: RBI publications viz., Annual Report, Report on Trend and Progress of Banking in India, Monetary Policy Report and the Financial Stability Report and the Economic Survey published by the Government of India over the previous two years.
Officers in Grade 'B' (DR) – DSIM- 2021- Job Requirement, Scheme of Selection and syllabus
(i) Job Requirements: To undertake collection, compilation, analysis and interpretation of data on banking, corporate and external sectors; Modelling and forecasting of inflation, growth and other important macroeconomics indicators; Analytical studies involving statistical/econometric models in the operational areas of interest to the Reserve Bank; Planning, designing and organizing sample surveys; maintaining technology-driven centralized reporting system and Data warehouse for information management /dissemination; and Development of methodology for the measurement and estimation of variables and improvement of the database of various sectors of the economy.
(ii) Scheme of Selection: Selection will be through Online/ Written Examination (WE) and interview. There are 3 papers for the Examination. Paper I ObjectiveType (on Statistics) to be held on March 6, 2021 and Paper II & III will be held separately on March 31, 2021 (date to be confirmed in admit cards)
(iii) Paper – II and III online/Written Examination: The Paper II and Paper III Examination will be conducted on March 31, 2021, only for the candidates who are shortlisted on the basis of results of Paper-I. The Paper II and Paper III examination will be in shifts. Candidates are required to appear for all shifts. Separate Admission Letters will be issued for each shift. The time-table for Paper II and Paper III will be intimated to the candidates concerned along with Admission Letter for Paper II and Paper III.
(iv) Question papers for 'WE' will be set in Hindi and in English (except Paper-III on English). Answers for Paper-II may be written either in Hindi or English. Paper-III will have to be answered in English only. Candidates may opt for interview in Hindi or English.
(v)The number of candidates to be called for interview will be decided by the Board. (vi) Final selection will be on the basis of performance in the 'WE' (Paper I, II and III) and interview taken together.
Syllabi: Standard of papers would be that of Master's Degree examination of any Central University in India.
Paper-I: Questions would cover Probability: Definition of Probability, Standard distribution, Large and small sample theory, Analysis of Variance, Estimation, Testing of Hypotheses, Multivariate analysis and Stochastic Processes.
Paper-II: Questions would cover (i) Probability and Sampling, (ii) Linear Models and Economic Statistics, (iii) Statistical Inference: Estimation, Testing of hypothesis and Non-parametric Test, (iv) Stochastic Processes, (v) Multivariate analysis and (vi) Numerical Analysis and Basic Computer Techniques. There will be sufficient choice for candidates to attempt the required number of questions from any three or more of the above six groups.
Paper-III: English: Essay, Précis writing, Comprehension and Business/Office Correspondence.
C. Manner of conduct of examinations for GR B (DR)-DEPR /DSIM:
(i) The examination will be conducted on two days i.e. Paper I on March 6, 2021 and Paper II & III will be held separately on March 31, 2021 (date to be confirmed in admit cards).
(ii) Paper – I (Objective type on Economics / Statistics as the case may be) will be conducted online and comprise multiple choice questions.
iii) Paper – II (Economics / Statistics as the case may be) will be a descriptive type pen/paper based examination where the questions will be displayed on computer screen and will be conducted in one session on April 1, 2021.
(iv) Paper – III (English) will be of descriptive type where the candidates will be expected to type out answers on a computer.
(v) The Board reserves the right to modify the exam dates and time entirely at its discretion.
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