Your Salary and Perks as RBI Grade B Officer From the lens of ex-CGM RBI

candidates appearing for the exam who have the perks in mind they should be happy about it that you know practically so many aspects I would say all your bills are taken care of mhm MH so your salary becomes a good saving there's education allowance for your child exam [Music] hello everyone welcome back to the expert sessions that we are doing with Dr Sharma uh welcome back sir thank you thank you so much and again once again uh thank you so much sir for taking out time so we have done few sessions with Dr Sharma already in the past we have discussed with him uh about the RBI Grade B job what are the different profiles different departments in rbii what are the learning opportunities uh for you as a as a Grade B officer both inside RBI and outside and today we will further the discussion on some very very interesting points so uh sir uh your sessions have been very very helpful we've received lot of uh uh appreciation and also questions from the students side for the kind of insights you have been providing I'm happy that you know these sessions given insight to these young aspirants to understand the organization before they join and they're lucky that they have this opportunity YouTube is there experts are there in our days we didn't have anything of this kind so it's nice to interact with them actually and share yes that's the idea that you know we can provide as much as information so so today we are going to talk about one of the most uh frequently asked questions that have come in and queries that have come in from the student side uh which relates to uh the perks and the benefits that uh uh they may get as RBI Grade B officers and as they progress in the organization so uh so that's what we would like to delve in a little more in detail apart from what is already known from the notification so what we do know from the notification is that they fall in the basic pay scale of 55,00 per month which when you add on the other allowances uh to the basic pay uh rounds up to something around 1.2 lakh per month is excluding the uh house benefit the housing uh allowance so uh and what we understand is if you add the other kinds of different benefits one may also end up uh making it up to almost 2 lakh per month so what are these others uh benefits that they can get yes uh yes I guess you know any organization you join today public sector in particular you have a host of uh benefits which come as PKS to us and they add on to the salary so when we add those your salary TR becomes very large so um of course they vary from organization to organization RBI you was talking about accommodation for example so one of the best works that we get is accommodation no doubt in all the centers major centers we have Banks colonies the very well located for example in Delhi you will have colony in ban vhar for great B officers and you also have in house cars both are very very upm Market areas and for senior officers you have a few Flats in uh rabindra nagar which is next to Khan Market another Prime spot then uh in Kolkata a place like alipore you know it's one of the Prime areas where you have fantastic accommodation huge Flats not all flats are huge of course has you know some flats are very B because they old British time Flats of the 1930s Bombay has uh colonies from beginning from bomb Central to malot okay so in that sense uh depending on your grade as great be obviously you stay a little far away in a place like Bombay because Bombay is a different city but if you leave Bombay aside then in most or the centers we not very far from The Reserve Bank and commuting is not a problem with accommodation in case bank is not able to provide you with accommodation of its own then there are lease flats and good limits are there so you can get a respectable good lease flat in a very good area the bank takes care of so accommodation is a big BK right and actually that's the one of the biggest costs also so uh if that is solved it solves a big problem places like prad in Bombay low parade cuff parade they are expensive areas and getting a house there is if you take a Le flat it is expensive so the banks colonies here provide you very good accomodation of course I would add here that CF parade is for senior officers Bank house which is located near mantal there Al for the senior officers so what I can understand right from Grade B when you join uh till you know as you keep progressing in the organization uh accommodation is taken care of to a never a problem never a problem right right and so so for example if you know later on a person even wants to build their house of their own so is there any kind of support in form of a you know housing loan or uh any any concessions on that aspect yeah housing loan is available to us uh which is almost you know they give you 90% of the cost of your uh property okay uh a or it has a limit 100 times your basic or some such thing you know it goes there's a range 100 120 or 130 times your basic whichever is higher you will get that much uh loan and you know you pay over a long period of time so practically everybody in the bank AWS of the housing loan which the interest rates are much lower than what you get in the market and uh at young age you are able to make your own house that's a very good uh perk also right right and uh I think uh housing loan limits would go up to one and a half CR right okay in these days our days was different you know it varies you know but today it's much higher because the houses are also more expensive more expensive true true right so basically we can say that in line with what the market trend is what the cost of living is that's in mind yeah it's not like a you know very old fixed limit which is continuing they they keep rationalizing Dynamic it's Dynamic you know Dam it changes yes I remember when I took my first housing loan I limit upper limit was I think 1.75 m because then houses were much cheaper you could get a house in about two lakhs right right two two bedroom house in city like Amad true true now things have changed so it's a dynamic uh limit and so what about the vehicle any kind of vehicle facility or loan or any kind of vehicles yes you can aware of vehicle uh at loan also M and uh you get see owning a vehicle is one thing but driving the vehicle is the critical part so you do get from depending on your grade it could be from 50 L to about 300 L of reimbursement of petrol M or a petrol allance petrol reimbursement was earlier you had to produce vouchers now I think in declaration and um so depending on your grade 150 200 uh 300 odd again this is dynamic so know it can change it will change it only improves with time because the petrol prices keep getting higher costlier the petrol gets costlier and cities expand and travel distance also increases so that's a very good per right and you can take a loan and buy a car buy a car and at senior levels when you know by the time you can change your car after every 3 years and by the time you retire you know the last car that you have you know it's given to you at a discounted uh price right so we can as a Grade B one can start with allowances for Petra expenses and later on plan to have a vehicle where also some kind of concessions are provided in help that great so so um driver also I think at a certain at a certain grade maybe at senior levels grade D onwards you are also given a driver allowance okay depending on the city in which you are in so obviously Bombay the Metros would have a higher allowance and the smaller centers would have a th true true true right so as Grade B officers if you say yes you get certain allowances to meet your transportation expenses and as you progress as you move up the ladder those kind of uh allowances become even more Diversified uh for you great so um you know once we start um working there are certain other kinds of savings or Investments or insurances that one thinks of so how is the insurance policy like what kind of benefits do uh Grade B officers get uh as part of that yes the bank has a group Insurance scheme and again the limits keep changing today I think in modern day today's uh uh scenario it should be around uh 50 lakhs you know uh it's taken by the bank and then you can always add on to it so supposing the bank is paying 50 lakhs and then for that that's the limit and you can add on up to one CR so that Advantage is there and insurance is taken care of so life and medical insurance is taken uh into account medical insurance also there and we have good medical facilities for the matter actually within the bank we have a dispensary we have BOS called the bank's medical officers so every Center the big centers have a big dispensary and they have a couple of three or four BOS and for your normal day-to-day ailments you know the standard of cold pain headache Etc you can Avail of the bank go to the he'll give you prescribed medicine which is available in the dispensary free of cost and in case the medicine is not there in the dispensary they give you a credit slip so you can go and take medicine on credit and the bank pays the money for that also so that's a very good facility in fact actually and um similarly then you have for hospitalization so this is you know uh within the bank then if you have a serious illness if you need surgery then depending on your grade again you are entitled to a good amount which takes care of your surger um expenses towards surgery or any other uh uh disease that you may have so there's a big schedule and you know there individually they give for dentists they have an x amount for i y amount and depending on the grade of course you know so though though the pain experienced I mean if you have to get a tooth extracted at Grade B level and I have to get a tooth extracted at grade F level Ian you'll be given different amounts though the pain will be the same and the effort would be the same but it is the perk ultimately yeah so so I think our uh candidates appearing for the exam who have the perks in mind they should be happy about it that you know practically so many aspects I would say all your bills are taken care of MH so your salary becomes a good saving there's education allows for your child example you you get I think 13,500 rupees or so I'll interrupt you a little in between here and come back to the medical part uh in this medical facilities like you suggested you know there's a dispensary where the medicines for know daily kind of uh ailments can be provided and for surgeries also there are certain limits of course there is Medical Group Insurance that you are a part of uh does any support come in this is only for the officer himself or for parents and family they also included in these benefits the benefits are for the family per se so if you have your wife and your children are also entitled to similar benefits and dependent parents dependent parents so uh I I'm not very sure whether it continues now but there were some parents who were not dependent on you they were like retired officers but medically they were dependent on you okay so they would get the medical facility for uh when you get admitted to a hospital right but not the bank facility of uh dispensary that is limited to your family also or dependent parents staying with you and they don't have income you know so so they would you can show them as dependence and then they would also take it care right so as I understand as s was saying you know uh lot of expenses are well taken care of and the that is should not be one of the worries for anybody who's looking to join okay so you you touched upon uh the kids education but before that uh you know when you have kids there's a very important Point uh what are the maternity benefits and in today's time I will say with nuclear families and all even uh boys would want to know the paternity benefits that they can get uh in the organization well these boys are lucky because now bank has introduced paternity leave which was not there in our days but I think two weeks fraternity leave is given to men now and women can Avail in the during the entire career up to a Year's leave roughly towards maternity so which is very good you know right and these days with families being small I think one or two children so you can get six months at a time for example right to take care of your initial care of your child and parents the father also has a responsibility so he has this two weeks to uh run around and wherever he's required to be it's good facility and good hospitals you know for nurse for your delivery and treatment okay so that's that's a uh that's good to know you know many organizations are included and as we know RBI is very Dynamic and you know with the time so they also have the paternity leave introduced uh in their organization with the time so that's that's great and now coming back to so what you were touching upon the kids education um yeah let me also add a caveat here that some of the figures that I'm giving are you know back of the envelope kind of so I mean I don't have the exact figures but broadly what you talk to people and you hear these days what's happening in the bank so you understand that things have improved so much and I'm giving you the broad ranges perhaps you know absolutely so now coming to what was your question on the kids education so kids education yeah that's another thing they have added I was told uh somebody that they get something like 12,000 30,000 rupees a month for the children's education so at least I know that 13,000 may not be enough uh these days schools are expensive private schools are very expensive but it's a kind of a subsidy you can say that you know for you you can add the best from your pocket or some schools don't charge High fee but yeah private schools can charge High fees so it's there 30,500 per child or that's for the kids but also for you as as an officer you can do a part-time course you can do a longdistance course you can do a PhD you can go abroad and study by a weing of scholarship scheme of the bank and you will be given uh funds so a new question is coming to my mind when you mentioned uh about scholarships so in our last session also we were discussing in opportunities that are there now how I'm associating it with is uh when we say uh the support for children's education and your own education there could be uh is there any kind of facility or possibilities that any kind of scholarships for children is also uh given at any level I don't not to my uh understanding I don't remember this that it wasn't there earlier now that they've introduced for children scholarship schemes I I I'm not sure of that okay sure anyways it's a long very long thought process the children come in but yes it just came popped in my head because I was trying to associate uh both the things together okay um so another Point uh that uh we want to the students ask a lot about what is the leaf policy how is the leaf policy in the bank Leaf policy is also very good Raji you know you get uh casual leave uh 11 casual leaves in a year which can be carried over to the next year so you can you know if you you have saved some earlier in good old days it used to lapse so then um people would um try to take leave at the end of the year before it lapses for the sake of taking leave so it's been rationalized and you can carry forward your leave so uh I I think yeah exact number how many days you get casity what did I say 11 days no it's it's you you get 15 days of casualty if I'm not mistaken I'm not very sure of that but yes it's there and carryover Facilities there so you can accumulate and then use it uh to your advantage then you have the ordinary leave which means where you collect leave uh every month you know one and a half days of leave so you at the end of the year you have a good balance or of uh having collect some 22 something of this kind exact figure I don't remember how it works CU yeah but I remember that when I retired I had lot of which leave can be in cash also so so you know maximum you can save is up to 360 days okay of leave then it'll spill over then it won't be saved so then you can encash your leave when you are not able to so you don't want to use it for the sake of using you could inash it and so leave is very good and then there is sick leave so that's from other than the ordinary ordinary Le is earn leave yeah that's what call in RBI they call it so ordinary leave and uh your casual leave in addition you have the sick th of 18 months in a entire career let me add that I was lucky that I did not have to even use it for one day so it's good you don't use your sick Le you know you remain healthy absolutely a lot of perks actually when you say that so uh a lot of perks are actually there they they're good to have but it's good to not want reaching a stage where you have to use them I will say it's good to have absolutely absolutely you know Insurance being one of them uh medical facilities it's good to have as I said for a rainy day but everybody would want that we don't reach that rainy day right right and just because you're getting maternity leave for 360 days that mean you must necessarily have to yes so it's need based yes it's need based absolutely uh so from the leave it also comes what about the LTC travel uh concessions any yes that's there uh leave Travel con session is there and they have something called travel Fair allowance also which was not there earlier I understand that is LTC in the normal case as it is up to 6,500 kilm one way you know and then back so you subject to income tax of course so if you are using it you there is no tax on it and uh then there is something called the travel Fair allowance which is where only three members can Avail of that okay this is something new which has come which I'm not very uh familiar this okay so maybe so you can really roam around you know you get um to travel all over the country any part of the country you can travel and U make your children take them along with you let expose them to different cultures uh and of course it's always good to take leave a break from your work to maintain a good work life balance as they say so eltc helps in that so I was recently reading a post uh after after the book I think of uh former Governor subar came where it was given example of how before his retirement he was availing that and he traveled from the easternmost point of India to the southernmost point of uh uh India by second class is what it said which which I'm a little surpris you know because I think we have entitled to AC AC yes but he chose to to uh see travel yeah so to travel like that to actually see it also and there were other reasons of course I will not actually it reminded me of G this when I read this passage also it reminded me of Gandhi g sitting in the train you know he wanted to travel all over the country to see the way people were you know during the British days remember his long train journey that he undertook yes and that's where he saw with the train stopped some lady was having a b she didn't have clothes with proper clothes so the kind of things that touched touched him so I think when I read this passage of Dr soar somehow I remember that scene that yeah you know maybe he was doing a selfis discovery self discovery yes so uh you know um in nutshell what I'm driving is uh perks and benefits are sufficient are enough it's on you how you utilize them and uh aail them I think but it's well taken care of is what I am getting the message underlying message yeah there there's a caveat I want to add here that or a disclaimer that the perks alone should not be the driving force for you to join an organization yes the organization takes care of you in a very good way but that cannot be the primary reason that is an add-on reason so I want to work for the Reserve Bank for because I'm interested in working for the Central Bank whatever reasons you have and with that come these benefits so sometimes people say oh I'm going to join Reser because it's taken care of my accommodation and they don't post me there are no rural centers so those cannot be the reasons that that brings me to another question sir in terms of perks only I'm I'm revolving around the perks today more uh so once once you know anybody gets transferred from one office to the other uh is the transfer cost also taken care of or one has to bear that himself yes certainly you know they the bank transfers VI they do take and they ensure that they pay you for the logistics so uh again it changes up to I think 500 or 600 kgs of U luggage by truck vehicle from a standard reputed uh company you can hire them you can get Packers and I can tell you that since the '90s we have been you know using the services of reputed Packers who do an excellent job they charge you the bank is ready to reimburse the amount and all your goods come Ship shap by the time they reach your destination they open it for you they put it in their rooms so you don't have to do much work uh and the bank takes care of the money is enough to pay them and submit the bills this is again submission of bills you have to submit the bills later on to the bank so that's very good and also for every relocation you get um some settling down amount which is something 2 or 3 times your basic depending on your grade I think maybe twice basic so that's extra money that you get so minimum dist you know they know they understand that when you move from one place to another you are kind of being uprooted from one state to another state your children's education um is going to suffer so you have to find for new schools so that's why this to your basic salary is given to you that you have to make payments there it could take care of that and you don't have to worry about getting your packing your staff and so you have good relocators these days they take good care that's a good uh question that you asked okay that's helpful uh very very helpful sir uh I think we did discuss a lot of types of facilities and perks uh that are there as Sir said uh these facilitate and help uh and carrying on with your life in a comfortable manner however these cannot be the major reasons for joining uh the bank we've of course discussed the profile the kind of Institute RBI is the kind of work they are doing and U that that's then that in itself is a very very motivating part for majority of the people uh working and you're well taken care of when it comes to uh the livelihood so uh I think those are the most questions that I got related to uh the perks and the benefits uh I hope you found this interesting and uh useful and keep sending in your queries we'll come up with another session with Dr Sharma to delve into the details of working uh and the life of an RBI Grade B officer thank you sir once again for giving all these insights in detail and we'll be back with another session with more questions and looking for more answers from you thank you nice to be with you here and interact and share and I hope our prospective aspirant make use of these uh videos and uh study hard to get into the bank absolutely thank you sir all the best to them okay bye thank you

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Id: AmZpzwAlaMU

Length: 29min 24sec (1764 seconds)

Published: Wed Jun 05 2024