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The Reserve Bank of India is the central bank of India. It was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934 in Kolkata but was permanently moved to Mumbai in 1937. Initially RBI was in private hand but after independence in 1949, Government of India nationalized the Reserve Bank of India. The basic functions of the Reserve Bank is to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage. It has 22 regional offices, most of them in state capitals. Currently D. Subbarao is the Governor of RBI. If you are looking for job in RBI then there is a good news for you as this week, RBI has invited applications from Indian Citizens and others for appointments to Officers in Grade ‘B’.

No. of Posts 79 (UR-39,SC-11,ST-6, OBC-23) (PH-7)
Age Limit : 21-30 years
Pay Scale : Rs.13700-24400
Qualification :
(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 from IIM only.
(SC/ ST/ VH/ 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)

Selection will be through Written Examinations and Interview. Written Examinations will be held in two phases as under. Their Syllabus is very vast

i) Phase I (Objective Type Test): This Paper of 3 hours duration for 200 marks will be held on Sunday, the October 11, 2009. 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. Roll No. of the successful candidates are likely to be published around November 2009 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 early 2010 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 -

1) Paper I – English 2) Paper II – Economic and Social Issues and 3) Paper III – Finance and Management. Each of these papers is of 3 hours duration carrying 100 marks.

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.

iii) Syllabus for Paper I – English: Essay, Précis writing, Comprehension, Business/Office Correspondence.

iv) Syllabus for Paper II – Economic and Social Issues: Growth and Development – Measurement of growth : National Income and per capita income – Poverty Alleviation and Employment Generation in India – Sustainable Development and Environmental issues. Economic Reforms in India – Industrial and Labour Policy – Monetary and Fiscal Policy – Privatisation – Role of Economic Planning. Globalization – Opening up of the Indian Economy – Balance of Payments, Export-Import Policy – International Economic Institutions – IMF and World Bank – WTO – Regional Economic Co-operation. Social Structure in India – Multiculturalism – Demographic Trends – Urbanisation and Migration – Gender Issues – Social Justice : Positive Discrimination in favour of the under privileged – Social Movements – Indian Political System – Human Development – Social Sectors in India, Health and Education.

v) Syllabus for Paper III – Finance and Management:

(i) Finance :The Union Budget – Direct and Indirect taxes; Non-tax sources of revenue; Outlays; New Measures; Financial Sector Reforms; Capital Market, Money Market and Foreign Exchange Market; Stock Exchanges and their Regulation; Capital Market Intermediaries and their Regulation; Role of SEBI; Functions of the Money Market; Growth and Operation of the Money Market; The Foreign Exchange Market; From FERA to FEMA; Exchange Rate Management; Exchange Risk Management; Role of Banks and Financial Institutions in Economic Development; Regulation of Banks and Financial Institutions; Disinvestment in Public Sector Units.

(ii) Management : Management: its nature and scope; The Management Processes; Planning, Organisation, Staffing, Directing and Controlling; The Role of a Manager in an Organisation. Leadership: The Tasks of a Leader; Leadership Styles; Leadership Theories; A successful Leader versus an effective Leader. Human Resource Development: Concept of HRD; Goals of HRD; Performance Appraisal – Potential appraisal and development – Feedback and Performance Counseling – Career Planning – Training and Development – Rewards – Employee Welfare. Motivation, Morale and Incentives: Theories of Motivation; How Managers Motivate; Concept of Morale; Factors determining morale; Role of Incentives in Building up Morale. Communication: Steps in the Communication Process; Communication Channels; Oral versus Written Communication; Verbal versus non-verbal Communication; upward, downward and lateral communication; Barriers to Communication, Role of Information Technology. Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate Governance.

d) Maximum Number of attempts: Candidates belonging to Unreserved Category, who had already appeared four times for Written Examinations for this post in the past, are not eligible to apply. No such restriction to candidates belonging to SC\ST\OBC\PH, if the posts are reserved for them.

Application Fee : Rs.100/- (No fee is payable by SC/ST/PH candidates) payable by Demand Draft favouring Reserve Bank of India and payable at Mumbai only. 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). 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.

How to Apply : Applications in the prescribed format and completd in all respect to be sent to General Manager, Reserve Bank of India Services Board, Post Bag No. 14501, Mumbai Central Post Office, Mumbai-400008 by ordinary post on or before 24/08/2009. (Last date is 31/08/09 for candidates from far-flung areas.)

For more details visit Recruitment Portal of RBI