RBI Assistant Salary 2023: The Reserve Bank of India pays a juicy salary to its employees which has been discussed here as per the previous RBI Assistant Notification. A job with RBI is considered prestigious as it offers a great salary package along with a number of perks and other incentives. Knowing the salary structure, perks, and allowances given will help the candidates to stay motivated and work harder to achieve their dream job as an RBI Assistant.
Reserve Bank of India gives a no. of perks and incentives to its employees and with salary, it provides work-life balance to its employees. RBI has revised the RBI Assistant Salary as detailed in the RBI Assistant Notification 2023. In this article, we have discussed the revised RBI Assistant Salary, check details here.
Table of Contents
RBI Assistant Salary 2023:Overview
|Conducting By||Reserve Bank of India|
|Vacancy No.||To be released soon|
|Category||Salary Structure & Perks|
|Basic Pay||Rs.20,700/- per month|
|Selection Process||Prelims, Mains and Language Proficiency Test|
RBI Assistant Salary Structure
The initial basic pay of RBI Assistant is Rs. 20,700/- per month (as per revised salary) with a pay scale of Rs. 20700 – 1200 (3) – 24300 – 1440 (4) – 30060 – 1920 (6) – 41580 – 2080 (2) – 45740 – 2370 (3) – 52850 – 2850 – 55700 (20 years) salary structure given below is on the pay scale details. The revised gross salary of an RBI Assistant is Rs. 45,050/- per month including Dearness Allowance, House Rent Allowance, City Compensatory Allowance, Transport Allowance etc. In case, the employees are not staying the apartments, they will be paid with House Allowance- 15% of Pay additionally.
The candidates interested in the RBI Assistant 2023 must note the benefits of this job and prepare for the same using all their best efforts. The candidates can have a look at the table below for RBI Assistant Net Pay or the in-hand salary distribution.
|Basic Pay||Rs. 20,700/-|
|Grade Allowance||Rs. 2200/-|
|Dearness Allowance||Rs. 12,587/-|
|Transport Allowance||Rs. 1000/-|
|House Rent Allowance||Rs. 2238/-|
|Special Allowance||Rs. 2040/-|
|Local Compensatory Allowance||Rs. 1743/-|
|Gross pay||Rs. 45,050/-|
|Net Pay||Rs.40,000/- (approx)|
RBI Assistant Salary Deductions
An amount of Rs. 3375 is deducted from the net gross pay of an RBI Assistant which has been elaborated in the below table-
|RBI Assistant Salary Deductions|
|EE NPS Contrib Amount||Rs. 2,970/-|
|Prof Tax- split period||Rs. 200/-|
|Meal Coupon Deduction||Rs. 160/-|
|All India RBI Employee||Rs. 10/-|
|Sports Club Membership||Rs. 10/-|
|Total||Rs. 3,375/- (approx)|
RBI Assistant Salary- Perks & Allowances
Apart from the monthly salary offered to an RBI Assistant, the eligible candidate will be entitled to the following allowances:
- Dearness Allowance
- House Rent Allowance (if accommodation is not provided)
- Compensatory Allowance
- Transport Allowance
House Rent Allowance(HRA) will not be paid to the employee if Bank’s accommodation is provided and the license fee will be recovered from her/him @ 0.3% of pay at the starting stage of the pay scale of Class III.
Having a bank job has its own benefits. Along with good basic pay, the candidates do get to enjoy several perquisites.
RBI Assistant Salary includes the following Perks:
- 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
- Dispensary facility besides reimbursement of medical expenses for OPD treatment or hospitalization as per eligibility.
- Interest-free Festival Advance
- Leave Fare Concession
- Loans and Advances at concessional rates of interest for Housing, Car, Education, Consumer Articles, Personal Computer, etc. It will be available to regular employees who will put in at least two years of service.
- The recruits will be governed by the Defined Contribution New Pension Scheme, in addition to the benefit of Gratuity.
RBI Assistant Job Profile
RBI, being the apex bank of India would provide you with an ample amount of job growth. Job Profile/ Work that he/she is to perform are as follows:
- The foremost job would be to maintain files, collect receipts, balance tally, maintain the ledger, etc.
- The eligible employee would be responsible to verify all the documents.
- He/She would be entitled to issue and circulate a new currency
- He/She will have to reply to e-mails and maintain a record of emails sent and received
- As an RBI Assistant, he has to ensure financial stability.
- Note that the Working Days are 5 (five) days a week, with gazetted holidays.
RBI Assistant Salary- Promotion
There are reasonable prospects of Promotion in RBI Assistant to higher grades. There will be internal examinations conducted regularly on which he/she will be promoted. With each promotion, the salary will increase as well as the roles and responsibilities of the employee.
Owing to an excellent pay scale and numerous benefits, a large no. of candidates appear for the exam every year. And with cut-throat competition, the examination is bound to be tough. So, interested candidates must ensure that they prepare for the examination with full dedication and sincerity. Keep solving mock test papers to improve your timing in each section.
The RBI Assistant gets promoted from
- Scale 1: Assitant Manager, Grade A
- Scale 2: Manager, Grade B
- Scale 3: Senior Manager, Grade C
- Scale 4: Chief Manager, Grade D
Benefits of being an RBI assistant
Salaries for government employees have increased dramatically since the 7th pay commission. Aside from that, an RBI assistant has a lot of advantages. The following are some of the advantages:
- Accommodation facility: Transfers are common in government jobs. As a result, wherever the employee is transferred, they will be accommodated. They won’t have to worry about finding a place to live because the RBI will provide them with housing.
- Work-life balance: The RBI assistant works five days a week and does not work on weekends. In addition, the job lasts 8 hours per day, from 9:15 a.m. to 5:15 p.m., giving the employee personal time after work hours. This position, when compared to other jobs and the private sector, allows the employee to maintain a work-life balance.
- Work: In comparison, there is less work pressure. As a result, the employee is able to perform to their full potential while remaining stress-free.
- Public dealing: This position is purely administrative and does not require any interaction with the public.
- Posting: Because the RBI does not have a branch in rural areas, employees are assigned to work in cities. Postings are both in urban and rural areas when compared to other banks.
- Housing loan: Employees of the RBI are eligible for a housing loan of up to Rs.30 lakhs at nominal interest rates.
- Education loan: The RBI offers employees’ children education loans up to Rs.20 lakhs at a very low interest rate. Scholarships are also given to the children.
- Medical benefits: The RBI not only covers the employee’s medical expenses, but also those of their family members. This is a huge relief because many of the facilities are either free or charge a very low fee.
- There are chances for advancement. The employee must pass departmental promotional examinations in order to be promoted to the position of Assistant Manager.
- Brand: RBI is the pinnacle of banking because it is India’s central bank, and it oversees all banks, public and private. There is nothing better in terms of a career than being a part of RBI.
- Leaves: When compared to other banking jobs, there are more leaves. An RBI employee has a greater number of vacation days and paid holidays than other employees.
Check RBI Assistant 2023 Important Links
|RBI Assistant Notification 2023||RBI Assistant Syllabus||RBI Assistant Previous Year Paper PDF Free Download|
|RBI Assistant Admit Card Out||RBI Assistant Exam Date||RBI Assistant Exam Study Material PDF|
RBI Assistant Salary 2023 FAQ
Q.What is the job profile of an RBI Assistant?
Ans: An RBI Assistant is in charge of maintaining files, verifying documents, ensuring proper currency circulation, and keeping track of the ledger.
Q. What is the in-hand salary of an RBI Assistant?
Ans: The in-hand salary of an RBI Assistant is around Rs.40,000/- per month.
Q.Apart from the RBI Assistant salary, what other perks and allowances are given to an employee?
Ans: The following are the various benefits and allowances that an RBI Assistant receives:
House Rent Allowance
Miscellaneous Benefits (Allowance for fuel, newspaper, etc.)
Q.Is there a scope of career growth as an Assistant in RBI?
Ans: Yes, the RBI conducts regular interviews and internal examinations to promote employees to higher positions. After a few years of experience, RBI Assistants are also eligible for promotions.