The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated. Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.
Candidates can apply for the post either on the prescribed Application (OFF-LINE) or submit the application ON-LINE followed up by sending a printout (hardcopy) of the online application to the Board’s office.
The ON-LINE applications can be submitted till 11.59 P.M. on November 8, 2010 after which the link will be disabled.
APPLICATION FEE (NON-REFUNDABLE) : Rs.100/- (Rupees one hundred only). No fee is payable by SC/ST/PWD candidates. Fee is payable by Demand Draft favouring Reserve Bank of India and payable at Mumbai only. However, candidates from un-banked areas may pay fee by crossed Indian Postal Orders in favour of Reserve Bank of India payable at GPO, Mumbai. Candidates should write their Name and Address on the reverse of the Demand Draft and in the space provided for the purpose on the Postal Orders (if fee is payable) and enclose them to the application with a pin (should not be stapled). Fees sent separately not accompanied with proper application or payment in any other manner will not be accepted. Fees once paid will not be refunded under any circumstances.
Age (as on 01-10-2010) : Between 21 and 30 years (candidates must have been born not earlier than 02/10/1980 and not later than 01/10/1989). For candidates possessing M.Phil. and Ph.D. qualification, upper age limit will be 31 and 33 years respectively. For candidates having experience as an officer in Commercial Bank/Financial Institution in Public Sector, upper age limit is relaxed to the extent of number of years of such experience subject to a maximum of three years. For such candidates, upper age limit should not exceed 33 years including experience. For experience, probationary period will not be reckoned. Refer item 4 below for relaxation in upper age limit for specified categories.
Educational Qualifications (as on 01-10 -2010): i) A First Class Bachelor’s Degree with a minimum of 60% marks or an equivalent grade OR ii) A Second Class Master’s Degree with a minimum of 55% marks or an equivalent grade OR iii) A Doctorate Degree with 50% marks in Master’s Degree or equivalent grade OR iv) Chartered/Cost Accountant/Company Secretary (ACS) with a Bachelor’s Degree OR v) A Post Graduate Diploma in Management / MBA qualification from institutions recognized by Government of India / University Grants Commission, with Graduation / Bachelor’s Degree.
NOTE: SC/ST/HI candidates having second class with a minimum of 50% marks or equivalent grade in Bachelor’s Degree examination OR having a Post-graduate Degree or equivalent recognized qualification, are eligible to apply.
Scheme of Selection :
Selection will be through Written Examinations (WE) and Interview. ‘WE’ will be held in two phases as under:
(I) Phase I (Objective Type Test) : This Paper of 3 hours duration for 200 marks will be held on Sunday, the February 6, 2011. The Paper consists tests of i) General Awareness ii) English Language iii) Quantitative Aptitude and iv) Reasoning. Candidates have to secure minimum marks separately for each test as prescribed by the Board. Candidates who secure minimum marks separately for each Test as prescribed will be shortlisted for Phase II of the ‘WE’ based on the aggregate marks obtained in the Objective Test. The minimum aggregate cut off marks for being shortlisted for Phase II of the WE will be decided by the Board in relation to the number of vacancies. Roll No. of the candidates successful in Phase I of the WE are likely to be published around March/April 2011 in Employment News/ Rozgar Samachar and on the RBI website and a brief notice thereof in leading newspapers.
(II) Phase II (Descriptive Type Test): The Phase II Examination will be conducted in May/ June 2011(tentative) only for those candidates who are successful in Phase I (Objective Type Test). The date and time-table will be intimated to the candidates concerned at the appropriate time. The Examination will consist of three Descriptive Type papers –
(i) Paper I – English (ii) Paper II – Economic and Social Issues and (iii) Paper III – Finance and Management. Each of these papers is of 3 hours duration carrying 100 marks.
NOTE : Phase I (except the test of English) and Papers II and III of Phase II will be set bilingually in Hindi and English. Phase I is Objective Type and only marking the correct choice is required. However, Papers II and III of Phase II can be answered either wholly in Hindi or English at the candidate’s option.
Number of attempts : Candidates belonging to Unreserved Category, who had already appeared four times for ‘WE’ for this post in the past, are not eligible to apply. No such restriction to candidates belonging to SC\ST\OBC\PWD, if the posts are reserved for them.
Pay Scale :
Selected Candidates will draw a starting basic pay of Rs.21,000/- p.m. in the scale of Rs.21000-1000- 30000-EB-1000-32000-1100-36400 applicable to Officers in Grade B and they will also be eligible for Dearness Allowance, Local allowance, House Rent Allowance, Family Allowance as per rules in force from time to time. At present, initial monthly Gross emoluments to direct recruit Grade B Officers are approximately Rs.38,276/-.
OFF-LINE Application or printout of the ON-LINE Application (hard copy), as the case may be, have to be sent by ordinary post to
“The General Manager, Reserve Bank of India Services Board, Post Bag No. 14501, Mumbai Central Post Office, Mumbai-400008”.
The cover should be superscribed “APPLICATION FOR THE POST OF OFFICERS in Gr.B (General) – (DR)”.
OFF-LINE Application or the printout of the ON-LINE Application, as the case may be, should reach the Board’s Office on or before 6.00 P.M. on November 15, 2010.
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