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Recruitment of ‘Specialist Adviser (Research) in Grade-F’ for Department of Economic and Policy Research in RBI


The upper age limit for the captioned post has been relaxed from 50 to 55 years. Last date for receipt of application has also been extended till September 12, 2014. For details please visit

1. Applications are invited for one post of ‘Specialist Adviser (Research) in Grade-F’ for Department of Economic and Policy Research in RBI.

  1. There is no reservation for SC/ST/OBC candidates. However, they can apply as General candidates without being eligible for any concession/relaxation.

  2. There is no reservation for Persons with Disabilities (PWD). However the PWD candidates are eligible to apply as a General candidate without any concession except for age relaxation. PWD candidate should submit a latest certificate to this effect issued by an authorized Government of India/State Government Department/Hospital.

2. Eligibility Criteria (as on 01.08.2014):

(i) Age: The applicant should be between 35-50 years of age. In case of PWD candidates, age relaxation as per extant Government of India instructions, will be provided.

(ii) Requisite minimum Educational Qualifications (as on 01.08.2014):

(a) A First Class Post Graduate degree in Economics with a minimum of 60% marks or an equivalent grade, in aggregate of all semesters / years.

(Note: Some Universities/Institutes do not award Class or percentage of marks and allot Aggregate Grade Points (e.g. CGPA/OGPA/CPI, etc.). In case University/Institute defines criteria for conversion of Aggregate Grade Point into Class and/or percentage of marks, the same will be accepted. However, where the University/ Institute does not define criteria for conversion of Aggregate Grade Point into Class and/or percentage of marks, or not stating class in the degree certificates, the undefined parameter(s) would be worked out as under:

Equivalent CGPA/OGPA/CPI or similar terminologies allotted on a 10 point scale

Class / Division

Aggregate Percentage of Marks


I (First)



II (Second)



II (Second)


Aggregate Grade Point or percentage of marks where awarded would mean aggregate over the entire duration of the course. Where the Aggregate Grade Point (CGPA/OGPA/CPI, etc.) is awarded out of a number other than 10, it will be normalized out of 10 and computed as per table given above.)


(b) Ph.D. in Economics from a reputed institution.

(iii) Desired Experience (as on 01.08.2014):

  1. Experience as a researcher in monetary policy area in reputed international/domestic institutions with a portfolio of published research in internationally reputed refereed journals

  2. Track record of sustained contribution to empirical research in macroeconomics and international economics

  3. Capacity to quickly analyse evolving developments in the domestic external sector and global economy and advise policy changes

  4. Strong research background with experience in applying economic analysis to real-world situations

  5. Experience in policy-relevant research gained at a central bank or an international organisation

  6. Exposure to financial statistics and applied Econometrics

3. Service conditions:

(i) Compensation Package: Regular pay scale of Grade ‘F’ officer of the Bank.

  1. Remuneration: The selected candidate will draw a starting basic pay of ` 60,600 p.m. in the scale of ` 60,600-1600(4)-67000 (5 Years), applicable to Officers in Grade-F and he/she will also be eligible for Dearness Allowance, Local allowance, House Rent Allowance, Family allowance and Grade Allowance as per rules in force from time to time. At present, initial monthly Gross emoluments are approximately ` 1,48,525/-.

  2. 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). Loans and Advances at concessional rates of interest for Housing, Car, Education, Consumer Articles, Personal Computer, etc. Selected candidate will be governed by 'the defined contribution New Pension Scheme (NPS)', in addition to the benefit of Gratuity.

(ii) Probation Period: Initial appointment will be on probation for a period of one year. At Bank’s discretion, the probationary period may be extended by one year, if necessary.

(iii) Place of Posting: The position/ place of posting of candidate will ordinarily be Central Office, Mumbai.

(iv) The selected candidate will be governed by RBI Staff Regulation 1948.

(v) Job responsibilities:

  1. Applied Macroeconomic Policy Research in the context of central banking. Contribute to, inter alia, international economics with a focus on trade, balance of payments and exchange rate analysis.

  2. Providing leadership and guiding the preparation of analytical and research-oriented macroeconomic reports for senior management information system.

  3. Monitoring and analysis of development of external sector within and integration across borders.

(vi) Career Progression: This is a newly created Specialist position for Research purposes. Since this is a leadership position, no further career progression is envisaged in the normal course for the position. Associated benefits are on ‘ín-situ’ basis only.

4. 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. Hence, merely fulfilling the minimum requirements laid down for the post would not automatically entitle any candidate for interview. The place and date of interview will be advised to the short-listed candidates in due course.

5. How to apply:

(i) The candidates applying for the post must submit their application by post to “The General Manager, Reserve Bank of India Services Board, IIIrd Floor, RBI Building, Opp. Mumbai Central Railway Station, Byculla, Mumbai - 400008” in the prescribed format (as given below in this advertisement).

(ii) The recent photograph is to be pasted at the appropriate place and application should be signed by the candidate. Incomplete and illegible applications will be rejected.

(iii) The cover containing the application should be super scribed with the name of the post applied for i.e. ‘APPLICATION FOR THE POST OF ‘SPECIALIST ADVISER (RESEARCH) IN GRADE-F’ in DEPR, RBI’.

(iv) The following documents should be submitted along with the application:

  1. Proof of age (copy of passing Secondary/High School/10th standard Certificate or Higher Secondary School /12th Standard Certificate mentioning the DoB.

  2. Copy of Certificate and Mark sheets, indicating the Class, of passing the Final Examination of Post Graduate Degree in Economics.

  3. Copy of Certificate of acquiring Ph. D. in Economics.

  4. Appropriate document(s) in support of desirable experience.

  5. PWD candidates should submit a latest certificate to this effect issued by an authorized Government of India/ State Government Department/ Hospital.

6. General rules/ instructions:

(i) Application format is given at the end. Candidate should apply strictly in conformity with the format as prescribed.

(ii) Candidates should enclose copies of the relevant certificate/s (in support of age, educational qualification) and appropriate documents in support of the experience, with the application. Their candidature will be considered on the strength of the information declared in the application and the copies of certificates/ documents submitted therewith. If at any stage it is found that any information furnished in the application is false/incorrect or if according to the Board, the candidate does not satisfy the eligibility criteria, his/her candidature/appointment is liable to be cancelled/terminated.

(iii) Candidates called for interview, will be reimbursed to and fro actual Economy Class air fare by the shortest route from the place of their residence/place of work to the place of interview whichever is nearer.

(iv) Canvassing in any form will be a disqualification.

(v) 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.

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

(vii) Candidates already in service of Govt./Quasi-Govt. organisations and Public Sector Banks/Undertakings will have to produce discharge certificate from the employer at the time of appointment in RBI.

7. CLOSING DATE: The application, enclosing all prescribed documents should reach the Board’s Office on or before 5.00 P.M. on August 14, 2014. The Board takes no responsibility for any delay in receipt of Application/s or loss thereof in postal transit.