(155 kb)
Date : Jul 20, 2017
PhDs in Grade ‘B’ for Research Positions – 2017


1. Candidates to ensure their eligibility for the posts:

Before applying, candidates should ensure that they fulfill the eligibility criteria for the advertised posts in the Reserve Bank of India (RBI / Bank). The Reserve Bank of India Services Board, hereinafter referred to as ‘Board’, would admit to the interviews all the candidates applying for this post with the requisite fee/intimation charges (wherever applicable) on the basis of the information furnished in the ON-LINE application and shall determine their eligibility only at the final stage i.e. interview stage. If at that stage, it is found that any information furnished in the ON-LINE application is false/ incorrect or if according to the Board, the candidate does not satisfy the eligibility criteria for the post, his/ her candidature will be cancelled and he/she will not be allowed to appear for interview.

2. Mode of application:

Candidates are required to apply only ON-LINE through the Bank’s website www.rbi.org.in. No other mode for submission of application is available.

Instructions for filling up the "Online Application Form" are given in Appendix-I.

3. Important Dates:

Events Important Dates
Website Link Open – For On-Line Registration of Applications and Payment of Fees/Intimation Charges July 24, 2017 to Aug 11, 2017
Last date for receipt of online Applications with prescribed fee Aug 11, 2017

4. Help Facility: In case of any problem in filling up the form, payment of fee/intimation charges, or in downloading of Admission Letter, queries may be made through the link http://cgrs.ibps.in

Do not forget to mention the correct recruitment / post applied for in the subject of the email.

5. Corrigendum: Please note that Corrigendum, if any, issued on the above advertisement, will be published only on the Bank’s website www.rbi.org.in.


1. The Reserve Bank of India Services Board (Board) invites applications from eligible candidates for the posts mentioned below in Reserve Bank of India (RBI/Bank):

Post Number of Vacancies
Unreserved i.e., General (GEN/UR) Other Backward Classes (OBC)# Scheduled Castes (SC) Scheduled Tribes (ST) TOTAL
PhDs in Grade ‘B’ for Research Positions 01 01* 01 - 03 $
# Candidates belonging to OBC category but coming in the 'Creamy Layer' are not entitled to OBC reservation. They should indicate their category as 'General (GEN)’.
$ No vacancies are reserved for PWD candidates. However, PWD candidates belonging to any of the three categories of the disability may apply for these posts, subject to their suitability for these posts. Persons with Disability may belong to any category - GEN/SC/ST/OBC.
* Backlog vacancy

Note for PWD candidates:

(1) The degree of disability should be (i) Minimum 40% in case of Orthopedically Handicapped persons, (ii) Minimum 40% in case of Hearing Impaired- sense of hearing is non-functional for ordinary purposes of life; do not hear, understand sounds at all even with amplified speech; hearing loss more than 60 decibels in the better ear (profound impairment) or total loss of hearing in both ears, and (iii) For Visually Handicapped candidate either of the following conditions should be fulfilled:

  1. Total absence of sight.

  2. With visual acuity not exceeding 6/60 or 20/200 (Snellen) in the better eye with correcting lenses.

  3. With limitation of the field of vision subtending an angle of 20 degrees or worse.

(2) PWD candidates should possess a latest certificate to this effect issued by an authorized Government of India/ State Government Department/ Hospital.

(3) Within the overall notified total vacancies, PWD candidates belonging to any of the three categories of disability will be considered for selection, subject to their suitability, over and above the vacancies, notified for PWD in this advertisement, in order to clear the backlog of PWD vacancies.

(4) Backlog vacancies reserved for PWD would be filled by a person with disability in the respective category. If no suitable person from that category is available such backlog vacancies would be filled up by interchange among other eligible PWD categories.

(5) PWD candidates may belong to any category (i.e. General/SC/ST/OBC). Reservation for PWD is horizontal and within the overall vacancies for the post.

(6) Only following categories of PWD are eligible to apply for this post:

  1. OH candidates: OA - One arm affected (Right or Left); BL – Both legs affected but not arms; OL – One leg affected (Right or Left),

  2. HI candidates: PD - Partially Deaf; D - Deaf

  3. VH candidates: B - Blind; LV- Low Vision

2. PhDs in Grade ‘B’ for Research Positions

I. Cadre of Recruitment: Recruitment at entry level for the post of Research Position in Grade ‘B’

II. Eligibility Criteria:

a) Age (as on 01/07/2017): The applicant should be below 34 years of age. (For relaxation in upper age, please refer to Para 3 I below).

b) Educational Qualifications (to be completed as on July 01, 2017): Ph.D. in areas of Economics or Finance from reputed universities (Indian or Foreign) is the minimum required educational qualification. The Bank will also look at those with interest and expertise in related areas in econometrics, computational and theoretical economics. High quality research potential and communication skills of international standards are essential.

III. Job Profile: Specific areas of our research interest include Monetary economics, e-banking and financial institutions, central banking, corporate finance, financial markets, financial regulation, financial stability, household finance, liquidity, payment systems and related areas of macro finance such as real‐financial sector linkages and international economics and finance. Candidates will be expected to do policy oriented research to assist in RBI’s economic policy formulation. Candidates should have the ability, background, and motivation to conduct quality research independently and also help develop a vibrant research environment. Candidates will also be expected to conduct high quality original research directed at the top economics and finance journals.

IV. Service conditions:

A. Nature of appointment

Candidates may choose the option regarding appointments i.e. either

(i) On regular appointment (on permanent basis) with a probation period or

(ii) On contract basis.

Choice for the option to be given at the time of interview.

B. Compensation for the post:

a) On Regular appointment (on permanent basis) with a probation period:

i. Pay scale: Selected Candidates will draw a basic pay of Rs.43,900/- p.m. (four advance increments to candidates in the basic pay) in the scale of Rs.35150-1750(9)-50900-EB-1750(2)-54400-2000(4)-62400 applicable to Officers in Grade ‘B’. They will also be eligible for Dearness Allowance, Local Compensatory Allowance, House Rent Allowance, Special Allowance, and Grade Allowance as per rules in force from time to time. At present, initial monthly Gross emoluments are approximately Rs.81,628/-.

ii. Perquisites: Bank’s accommodation subject to availability, reimbursement of expenses for maintenance of vehicle for official purpose, newspaper, telephone charges, book grant, allowance for furnishing of residence, etc. as per eligibility. Free dispensary facility besides reimbursement of medical expenses for OPD treatment/hospitalization as per eligibility. Interest free festival advance, Leave Fare Concession (once in two years for self, spouse and eligible dependents). Personal Advance at concessional rates of interest for Housing, Car, Education, Consumer Articles, Personal Computer, Travel, etc. Selected candidates will be governed by 'the defined contribution New Pension Scheme (NPS)', in addition to the benefit of Gratuity.

iii. At certain centres, limited number of residential quarters is available. Facility for securing residential accommodation on lease, however, exists at all centres.

iv. Initial appointment will be on probation for a period of two years. At Bank’s discretion, the probationary period may be extended up to a maximum period of four years.

v. There are reasonable prospects for promotion to higher grades.

vi. Selected candidates are liable to be posted and transferred anywhere in India.

vii. The selected candidate will be governed by RBI Staff Regulations 1948

b) On Contract appointment: The equivalent annual compensation package on CTC basis will be Rs.17 Lakh plus medical facilities.

V. Selection Procedure: Selection will be through interview only. A preliminary screening of the applications will be carried out for making, if necessary, a short-list of eligible candidates to be called for the interview/s. Preliminary interview of short listed candidates will be carried out by the Screening Committee. If required, candidates will further be short listed for second interview. Final selection will be made in the second round of interview.

Note: For candidates possessing very high academic or professional qualification / experience of significant value to the Bank, the Bank may, at its sole discretion, consider granting up to four advance increments. The Board, at its sole discretion, may consider requests for higher emoluments on account of higher qualification/special experience of value to the Bank at the interview stage only. The number of maximum increments will be four. The Board/Bank will not entertain any request received after the interview.

VI. Staff Candidates: All the full time employees of the Bank can also apply for the position provided they fulfill the eligibility criteria.


I. Age Relaxation: The upper age-limit prescribed above will be relaxable:

(i) up to a maximum of five years for candidates belonging to a Scheduled Caste or a Scheduled Tribe if the posts are reserved for them;

(ii) up to a maximum of three years in the case of candidates belonging to Other Backward Classes who are eligible to avail of reservation applicable to such candidates if the posts are reserved for them;

(iii) up to a maximum of five years if a candidate had ordinarily been domiciled in the State of Jammu and Kashmir during the period from the 1st January, 1980 to the 31st day of December, 1989;

(iv) up to a maximum of five years in the case of ex-servicemen including Commissioned Officers and ECOs/SSCOs who have rendered at least five years Military Service as on 1st July, 2017 and have been released;

  1. on completion of assignment (including those whose assignment is due to be completed within one year from 1st July, 2017 otherwise than by way of dismissal or discharge on account of misconduct or inefficiency; or

  2. on account of physical disability attributable to Military Service; or

  3. on invalidment.

(v) up to a maximum of five years in the case of ECOs/SSCOs who have completed an initial period of assignment of five years of Military Service as on 1st July, 2017 and whose assignment has been extended beyond five years and in whose case the Ministry of Defence issues a certificate that they can apply for civil employment and that they will be released on three months’ notice on selection from the date of receipt of offer of appointment.

(vi) up to a maximum of 10 years in the case of Persons with Disabilities.

Note I:-Candidates belonging to the Scheduled Castes and the Scheduled Tribes and the Other Backward Classes who are also covered under any other clauses of 3 (I) above, viz. those coming under the category of Ex-servicemen, persons domiciled in the State of J & K, Persons with Disabilities etc. will be eligible for grant of cumulative age-relaxation under both the categories.

Note II:-The term Ex-servicemen will apply to the persons who are defined as Ex-servicemen in the Ex-servicemen (Re-employment in Civil Services and Posts) Rules, 1979, as amended from time to time.

Note III:-The age concession under 3 (I) (iv) and (v) will not be admissible to Ex-servicemen and Commissioned Officers including ECOs/SSCOs, who are released on own request.

Note IV:-Notwithstanding the provision of age relaxation under 3 (I) (vi) above, a physically disabled candidate will be considered to be eligible for appointment only if he/she (after such physical examination as the Bank, may prescribe) is found to satisfy the requirements of physical and medical standards for the concerned Services/Posts to be allocated to the physically disabled candidates by the Bank.


Sr. No. Category Charges Amount *
1. SC/ST/PWD Intimation Charges only Rs.100/-
2. GEN/OBC Application fee including intimation charges Rs.600/-
3. STAFF@ Nil Nil
* Bank/Transaction charges are to be borne by the candidate.
@ Fee/Intimation charges waiver is only for those employees of RBI (Staff Candidates) who satisfy the eligibility criteria separately stipulated by the Bank vide its circular CO. HRMD. No. G-75/ 5599/ 05.01.01/ 2013-2014 dated December 20, 2013. Their status as staff candidate will be verified at the time of interview. In case they are not eligible to be treated as staff candidates (in terms of above referred HRMD circular), they are advised to indicate themselves as non-staff candidates and pay fees/ intimation charges as applicable to non-staff candidates.

Note I: Applications without the prescribed Fee / Intimation Charges shall be summarily rejected.

Note II: Fee once paid shall not be refunded under any circumstances nor can the fee be held in reserve for any other examination or selection.

Note III: Fee / Intimation Charges are required to be paid only in the manner prescribed in this advertisement.


a. Candidates are required to apply only online using the website www.rbi.org.in. No other means / mode of application will be accepted. Instructions for filling up online applications are available at Appendix –I which is available on the Bank’s website www.rbi.org.in. The applicants are advised to submit only single application; however, if due to any unavoidable situation, if he/she submits another/multiple applications, then he/she must ensure that application with the higher Registration ID (RID) is complete in all respects like applicants’ details, interview centre, photograph, signature, fee etc. The applicants who are submitting multiple applications should note that only the last completed applications with higher RID shall be entertained by the Board and fee paid against one RID shall not be adjusted against any other RID.

b. All candidates, whether already in Government Service, Government owned industrial undertakings or other similar organisations or in private employment should submit their applications direct to the Board. Persons already in Government Service, whether in a permanent or temporary capacity or as work charged employees other than casual or daily rated employees or those serving under the Public Enterprises are however, required to submit an undertaking in the Online application that they have informed in writing to their Head of Office/Department that they have applied for the interviews. Candidates should note that in case a communication is received from their employer by the Board withholding permission to the candidates applying for/appearing at the interviews, their application will be liable to be rejected/candidature will be liable to be cancelled. At the time of joining, the recommended candidates will have to bring proper discharge certificates from their PSU/Government/Quasi –Government employer.

NOTE: Candidates are not required to submit along with their applications any original certificate in support of their claims regarding Age, Educational Qualifications, Scheduled Castes/ Scheduled Tribes/Other Backward Classes and Physically disabled etc. which will be verified at the time of the Interview only. Candidates belonging to the OBC category should have OBC certificate issued on or after 01 July, 2016.The candidates applying for the posts should ensure that they fulfil all the eligibility conditions. Their admission to Interview will be purely provisional, subject to their satisfying the prescribed eligibility conditions. If on verification at any time before or after the Interview, it is found that they do not fulfil any of the eligibility conditions; their candidature for the interview will be cancelled by the Board. If any of their claims is found to be incorrect, they may render themselves liable to disciplinary action by the Board. A candidate who is or has been declared by the Board to be guilty of:

(i) Obtaining support for his/her candidature by the following means, namely:–

  1. offering illegal gratification to, or

  2. applying pressure on, or

  3. blackmailing, or threatening to blackmail any person connected with the conduct of the recruitment process, or

(ii) impersonating, or

(iii) procuring impersonation by any person, or

(iv) submitting fabricated documents or documents which have been tampered with, or

(v) making statements which are incorrect or false or suppressing material information, or

(vi) attempting to commit or as the case may be abetting the Commission of all or any of the acts specified in the foregoing clauses; may in addition to rendering himself/herself liable to criminal prosecution, be liable.

  • to be disqualified by the Board from the interview for which he/she is a candidate and/or

  • to be debarred either permanently or for a specified period (i) by the Board from any examination or selection held by them; (ii) by the Bank from any employment under them; (iii) dismissal from service by the Bank if he / she is already in Bank’s employment; and (iv) if he/she is already in some other service, the Board writing to his/her employer for taking disciplinary action.

Provided that no penalty shall be imposed except after (i) giving the candidate an opportunity of making such representation, in writing as he/she may wish to make in that behalf; and (ii) taking the representation, if any, submitted by the candidate within the period allowed to him/her into consideration.

5. LAST DATE OF RECEIPT OF APPLICATIONS: The Online Applications can be filled up to August 11, 2017 till 12:00 midnight.


a. Board does not assume any responsibility for the candidates not being able to submit their applications within the last date on account of or for any reason beyond the control of the Board.

b. Any canvassing by or on behalf of the candidates or to bring political or other outside influence with regard to their selection/recruitment shall be considered as disqualification.

c. In all matters regarding eligibility, conduct of interviews, assessment, prescribing minimum qualifying standards in interview, in relation to number of vacancies and communication of result, the Board’s decision shall be final and binding on the candidates and no correspondence shall be entertained in this regard.

d. The eligibility for availing reservation against the vacancies reserved for the physically disabled persons shall be the same as prescribed in "The Persons with Disability (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995." Provided further that the physically disabled candidates shall also be required to meet special eligibility criteria in terms of physical requirements/functional classification (abilities/disabilities) consistent with requirements prescribed.

e. A candidate will be eligible to get the benefit of community reservation only in case the particular caste to which the candidates belong is included in the list of reserved communities issued by the Central Government. If a candidate indicates in his/her application form that he/she belongs to General category but subsequently writes to the Board to change his/her category to a reserved one, such request shall not be entertained by the Board. Similar principle will be followed for PWD categories also. In case of a candidate unfortunately becoming physically disabled during the course of the recruitment process, the candidate should produce valid document showing him/her acquiring a disability to the extent of 40% or more as defined under PWD Act, 1995 to enable him/her to get the benefits of PWD reservation. 

f. Candidates seeking reservation/ relaxation benefits available for SC/ST/ OBC/PH/Ex-servicemen must ensure that they are entitled to such reservation/ relaxation as per eligibility prescribed. They should also be in possession of all the requisite certificates in the prescribed format in support of their claim as stipulated for such benefits, and these certificates should be dated earlier than the due date (closing date) of the application.

g. Please note that Corrigendum, if any, issued on the above advertisement, will be published only on the Bank’s website www.rbi.org.in

h. Any resultant dispute arising out of this advertisement shall be subject to the sole jurisdiction of the Courts situated at Mumbai only.