The Reserve Bank of India (RBI) is one of the most prestigious organisations in the country. A job at the central bank of India is a commitment to serve the nation. It is the place where your decisions impact the entire economy and plays a role in how the financial sector of our country evolves. The RBI invites applications for RBI Legal Officer Recruitment 2023 every year. Read on to know more about the RBI Law Officer Recruitment (Grade B).
This Blog Includes:
- Why Work at the RBI?
- Important Dates for RBI Law Officer Recruitment
- Application Procedure for RBI Legal Officer
- Exam Pattern of RBI Legal Officer Recruitment 2023
- Syllabus for RBI Legal Officer Recruitment 2023
- Eligibility Criteria to Become RBI Legal Officer
- Application Fees
- Selection Procedure for RBI Legal Officer
- Job Requirements of an RBI Law Officer
- Number of Vacancies
- Salary Structure
The Reserve Bank of India (RBI) is the central banking institution of India, established in 1935. It serves as the country’s monetary authority and regulator of the banking system. The RBI formulates and implements monetary policies to maintain price stability and control inflation. It issues and manages the Indian rupee, the nation’s currency, and manages foreign exchange reserves. The RBI supervises and regulates commercial banks, financial institutions, and non-banking financial companies to ensure their soundness and stability. It plays a crucial role in fostering economic growth, maintaining financial stability, and promoting financial inclusion in India through various policy measures and initiatives.
Why Work at the RBI?
A job at the Reserve Bank of India can turn out to be a dream opportunity for you. Here’s why:
- You become a central banker: The most important perk of a job at RBI is that you are a mile ahead of your peers in the financial world. You are part of the organisation that governs the entire banking industry of the country.
- Decent Salary and Perks: RBI provides decent pay and additional perks. From a decent initial salary to perks such as festival, grade and transport allowances, book and briefcase grants, loans at concessional rates, and so much more! The overall CTC of this job touches around Rs 15 lakh per annum if you consider all the perquisites.
- You get posted in metro cities: RBI has offices only in the country’s state capitals and metro cities. You get accommodation in quarters maintained by RBI in posh areas of the cities.
- Work and life balance: This is because RBI follows a five-day week, i.e. all the Saturdays and Sundays are off, unlike other commercial banks where you get off only on the second and fourth Saturdays of the month only. There is significantly less work-related stress in the organisation.
- Career growth: If you are a person who wants to get a degree even after joining a profession, RBI might be the job for you. You can ask for study leaves and enrol in courses even sponsored by the bank. After completing such a course, you are likely to be considered for a higher role within the organisation. You may get deputation in the World Bank, IMF, or World Economic Forum anytime in your career depending on your knowledge and performance.
Important Dates for RBI Law Officer Recruitment
|RBI Various Post Recruitment 2023|
|Recruitment release date||May 29, 2023|
|Starting date to apply||May 29, 2023|
|Last date to apply||June 20, 2023|
|Exam date (expect for Assistant Librarian in Grade A)||July 23, 2023|
Application Procedure for RBI Legal Officer
- Candidates should apply online for the RBI Law Officer Recruitment only through the official website www.rbi.org.in.
- Go to www.rbi.org.in >Opportunities@RBI>Current Vacancies>Vacancies and click on “Online Application Form”.
- Enter their basic details and upload the photograph, signature, left thumb impression and a hand-written declaration as per the specifications given.
- To register the application, choose the tab “Click here for New Registration” and enter your Name, Contact details and Email-id. A Provisional Registration Number and Password will be generated by the system.
- Fill in the necessary details
- Validate your details and Save your application.
- Upload Photo & Signature as per the specifications given in the Guidelines for Scanning and Upload of Photograph and Signature.
- Fill in other details of the Application Form.
- Click on the Preview Tab to preview and verify the application form before FINAL submission. Modify details, if required, and click on ‘FINAL SUBMIT’ ONLY after verifying and ensuring that the photograph, signature uploaded and other details filled are correct.
- Click on the ‘Payment’ Tab and proceed with payment.
- Click on the ‘Submit’ button.
Exam Pattern of RBI Legal Officer Recruitment 2023
Selection for RBI Law Officer takes place through Online and Offline Examinations plus Interviews. The examinations consist of objective and descriptive-type question papers as below:
|Paper I – General Knowledge of Law|
|Objective Type||30||Three Hours|
|Paper-II – English -Descriptive Type||100||Three Hours|
Question Paper I (General Knowledge of Law) is set in Hindi and English. The paper can be answered in either Hindi or English. Candidates may appear for the interview in Hindi or English at their option.
For the Syllabus of the Paper I & Paper II examination, check out Appendix-II A, which is available on the RBI’s website.
Syllabus for RBI Legal Officer Recruitment 2023
- Constitutional Law
- Administrative Law
- Principles of Statutory Interpretation
- Law of Evidence
- Contract Act,1872
- Transfer of Property Act,1882
- Negotiable Instruments Act,1881
- Registration Act,1908
- Code of Civil Procedure,1908
- Companies Act
- RBI Act
- Banking Regulation
- Labour Law
- Foreign Exchange Management Act
- Precis Writing
- Comprehension and Business/Office Correspondence
Eligibility Criteria to Become RBI Legal Officer
The RBI Law Officer Recruitment demands specific educational and experience requirements as mentioned below:
Educational Qualifications (as of February 01, 2023)
- Essential qualification: Bachelor’s Degree in Law from any College/University//Institution, recognised by UGC and the Bar Council of India at least 50% marks (or equivalent) aggregate of all semesters/years.
For SC/ST and PwBD candidates, the minimum mark required as above is 45%.
- Desirable qualification:
- Bachelor’s Degree in Law with 60% marks (or equivalent) the aggregate of all semesters/years or Master’s Degree in Law.
(b) Proficient in computer applications.
Experience (as of February 01, 2023)
- At least two years experience as an:
- Advocate/ Legal Consultant/ Legal Assistant/ Associate in an Advocates’ or Solicitors’ Office or Law firm after being enrolled with the Bar Council; or
- As a Law Officer in the Legal Department of a large bank / financial institution / statutory corporation/company / State / Central Government; or
- As a full-time teacher of law in a Law College / University.
Note: In the case of (a),
- A copy of the Bar Council Registration/Enrollment Certificate, and
- A certificate from the Bar Association where the candidate is a member,
or a certificate issued by the Presiding Officer of a Court before which the candidate has practised for the requisite period must be produced at the time of the interview.
- Remarkable knowledge of Company Law, Banking Law, Labour Law and Constitutional Law
- Experience in drafting pleadings and documents.
Age Requirement for Law Officer Recruitment
For applying for the RBI Law officer recruitment, A candidate must be 21 years and must not have attained 32 years as of February 01, 2023. Hence, candidates must have been born not before 02-02-1989 and not later than 01-02-2000.
The application fees can only be paid through Debit Card, Credit Card, and Net Banking. The exam fee is:
|Gen/ OBC/ EWS||Rs. 600/- (Rupees Six Hundred only)|
|SC/ ST/ Ex-Servicemen/ PWD||Rs. 100/- (Rupees One Hundred Only)|
Selection Procedure for RBI Legal Officer
Selection is made through:
- Written Exam (Paper I and Paper II)
The Board will decide the number of candidates called for interview, based on the marks scored in the examination. The final selection will be based on the performance in Paper I and II and the interview cumulatively.
Job Requirements of an RBI Law Officer
The RBI Law Officer Recruitment 2023 states the following job requirements:
- Dealing with references on legal matters received from various departments of the Reserve Bank and its associate institutions, which are primarily related to the interpretation and study of different statutes such as the Reserve Bank of India Act 1934, Foreign Exchange Management Act 1999, Banking Regulation Act 1949, Companies Act 2013, etc.
- Making first drafts of legislation administered/to be administered by the Bank.
- Drafting pleadings and comprehensive instructions/briefs to counsel in connection with litigation that involves the RBI and its associate institutions.
- Appearing before Labour Courts, Conciliation Officers, Tribunals etc., on behalf of the Bank.
Number of Vacancies
The Reserve Bank of India Services Board (Board) opens to applications from eligible candidates for RBI Law Officer Recruitment Grade B (as per notice dated February 23 2023):
|Post||Unreserved, i.e. General (GEN/UR)||Scheduled Castes (SC)||Scheduled Tribes (ST)||Other Backward Classes (OBC)**||Economically Weaker Sections (EWS) @||TOTAL|
|Legal Officer in Grade ‘B’||5||1||1||3||1||11|
**Candidates belonging to the OBC category but coming in the ‘Creamy Layer; are not entitled to the reservation for OBC. These candidates should indicate their category as ‘General (GEN)’.
Out of the 11 vacancies for RBI Legal Officer Recruitment 2023 (Grade ‘B’), one vacancy has a reservation for Persons with Benchmark Disability (PwBD) candidates under a locomotor disability, including Dwarfism, Cerebral Palsy, Leprosy Cured, Muscular Dystrophy and Acid Attack Victims.
|Legal Officer Basic Pay||₹35,150/- p.m.
(on the scale of ₹35150-1750(9)-50900-EB-1750(2)-54400-2000(4)-62400 applicable to Officers in Grade ‘B’)
|Allowances||Dearness Allowance, House Rent Allowance,
Local Compensatory Allowance, Special Allowance
and Grade Allowance as per rules applicable from time to time.
|Initial Monthly Gross Emoluments||approximately ₹83,202/-|
Ans. Candidates interested in applying for RBI legal officer position can apply on the official website. Candidates have to qualify for the exam and must have a minimum of 2 years of experience.
Ans. The average salary of an RBI legal officer is ₹83,202/-monthly.
Ans. The minimum eligibility criteria for RBI legal officer is a law degree and work experience of 2 years.
Ans. Dealing with legal matters of the Reserve Bank and its associate institutions, the study of Reserve Bank of India Act 1934, Foreign Exchange Management Act 1999, Banking Regulation Act 1949, Companies Act 2013, making drafts of legislation administered, drafting pleadings and comprehensive instructions/briefs to counsel in connection with litigation that involves the RBI and its associate institutions.
This is all you need to know about RBI Law Officer Recruitment 2023. Stay tuned with us to know recent updates on RBI Law Officer recruitment and exam dates. For any study abroad-related queries, feel free to connect with Leverage Edu. We will be happy to help you through the entire process of studying at a foreign university! Contact us Now!