The Reserve Bank of India Act of 1935 empowered the Reserve Bank of India (RBI) to perform the role of general superintendence and control of India’s banking system. The operational backbone of RBI in India’s Monetary system is the officers’ cadre. The Officer Grades in RBI are from ‘A’ to ‘F’, where Grade ‘A’ is for Assistant Managers and Grade ‘F’ is for Executive Director.
Once if RBI Assistants clear an internal promotion exam, they are appointed as Officers in Grade ‘A’ and join as Assistant Managers. Before they can give the internal exam, one must serve at least for three years as Assistants . After clearing RBI Grade ‘B’ (Direct Recruitment) Exam, Grade ‘B’ officers, join as Managers in RBI. The only direct officer level entry into Reserve Bank of India (RBI) is Grade ‘B’ officer. The following are the RBI Grade B roles and responsibilities.
RBI Grade B Officer Work Profile:
Being an Officer in the Reserve Bank of India is indeed a privilege. Officer will be working with the intelligent minds and will be handling our country’s finances directly!
You should be well informed about the economic state of the country in terms of inflation rate, deflation, GDP growth, GNP, etc.
Design Guidelines for various PSB’s (Public Sector Banks)
You will also be responsible to manage certain Government & Central Bank accounts.
Your job will be to make sure that the circulation of coins & currencies in the system works smoothly and properly.
RBI Grade B Officer Role and Responsibilities: 1. Ensuring Nation’s Financial Stability:
The RBI Grade B Officers need to work towards keeping the inflation under check and ensure that adequate supply of liquidity of the productive sector is taken care off. This is an important factor to maintain the financial stability of the country and the RBI officers are responsible for the smooth functioning of the same. The officers are entitled with enhancing the confidence of the public in the financial system of the country and make them use the cost effective and new technology services provided by the bank to its customers. 2. Currency Issue and circulation:
RBI issues the coins and currency and the RBI Grade B Officers are responsible for its circulation to the various nationalized banks under the ambit of RBI. They are responsible for the smooth functioning of the currency to the subordinate units of RBI and take note of the same. 3. Management of Government accounts:
They are also entitled with managing the state and central government accounts by performing various merchant banking functions for them.