Post on @Quora by Alqama Pervez: RBI Grade B Officers are Class I officers of the Reserve Bank of India posted at m…
Post by Alqama Pervez:
RBI Grade B Officers are Class I officers of the Reserve Bank of India posted at managerial level.
The internal hierarchy of the RBI is as follows:
Assistants > Sr/Spcl Assistants > Asst Managers (Grade A) > Managers (Gr B) > Asst General Managers (Gr C) > Dy GM (Gr D) > GM (Gr E) > Chief Gen Managers (Gr F) > Executive Directors > Dy Governors > Governor
Grade B is the highest level at which open recruitment takes place for the RBI.
The work profile of a Manager at RBI depends totally on the department he is posted in. And the diversity of tasks within RBI is huuuuuuge!
The Reserve Bank of India has about 20 odd departments. Each department may have several divisions which may further be sub divided into multiple sections.
For example, I am currently posted in the Foreign Exchange Department, Mumbai. The department is divided into 3 broad divisions – capital account, current account, APRD. The capital account division looks after the Foreign Direct Investments into India, the current account division looks after exports/imports, while the APRD looks after licensing of the authorized dealers of foreign exchange. Each of these is sub divided into sections. A manager is typically given charge of entire division(s) or mutiple sections across divisions.
That was just for FED, Regional Office. The Central Office FED has additional departments for overseeing External Commercial Borrowings, Trade Credits, etc.
If you are in PDO – Public Debt Office, you may be handling the auctioning of government bonds.
If you are in DBS – Dept of Banking Supervision, you may be going on inspection of the banks with your superiors (DGMs and GMs) and sitting across the table with the MDs & CEOs of the commercial banks, discussing the inspection reports.
Similarly, those in Dept of Non Banking Supervision or Dept of Cooperative Banking Supervision go on to inspect the non-banking financial companies (NBFCs) and the Cooperative Banks, respectively.
If you are in Dept of Banking Regulation, Dept of Non Banking Regulation or Dept of Cooperative Banking Regulation, you may be assisting your superiors in framing regulatory policies for banks, NBFC or Co-ops, respectively.
If you are in Dept of Economic Policy & Research or Monetary Policy Dept, your job is of research & data crunching and you/your team often gets to present some analysis or the other to the Governor himself or the newly introduced Monetary Policy Committee.
Oh and I forgot the most important function of the RBI – issuing of currency! If you are in the Issue Department (a child of Dept of Currency Management), you literally hold the keys to the vaults of the nation’s money. Broadly, as managers you’ll be responsible for receiving currency from the printing press and dispatching them to the banks and also receiving the soiled (unusable) notes from the banks and getting them destroyed. These guys were the heroes of demonitization.
Then there are the Financial Markets Operations Dept and the Dept of External Investments and Operations. These guys allegedly intervene in the financial markets whenever there is volatility or adverse movements. You actually need to clear an internal exam to be a dealer.
Then there is the ubiquitous HRMD.
In addition to these, there are several other departments like the Financial Inclusion & Development Dept, Risk Management Dept, Dept of Statistics & Information Management, Banking Ombudsman, Consumer Education & Protection Dept, so on and so forth.
So you see, the diversity (and thus the opportunity to learn) is tremendous.