The ESI means Economics and Social Issues for RBI Grade B mains or phase 2 can be completed with the help of the books given below. These books will help to cover almost all topics for preparation and will make good grip on ESI part. If Economic and Social Issues was a part during graduation, then there is no need to study the basics concepts of Economy or Social Issues. If the subjects were different then start with fundamentals of Economy or Social Issues and start reading about the NCERT textbooks from 8th -to- 12th standard. Read selective and important concepts only. Learn Economic concepts in static part. Study about social reforms, schemes, census, etc. Read about schemes, their full names and abbreviated name. In exam only abbreviated form questions will be asked, so it’s important to know the full-forms and sub-schemes of the schemes.

Study material recommended for ESI for RBI Grade B-

Questions asked in Economics and Social Issues are mostly related to the current affairs. So it’s not much useful to purchase and read bulky books during preparation. This section (current affairs) can be covered form day to day information grabbed from reading newspapers, listing news daily and reading magazines related to finance and economic issues. Along with this one has to cover some basic books for learning basic concepts. The list is only indicative not exhaustive. Following is list of topics which should be covered for the preparation of Economic and Social Issues (ESI).

1. Growth and Development – Measurement of growth
a. National Income and per capita income
b. Poverty Alleviation and Employment Generation in India
c. Sustainable Development and Environmental issues

2. Economic Reforms in India
a. Industrial and Labour Policy
b. Monetary and Fiscal Policy
c. Privatization
d. Role of Economic Planning

3. Globalization
a. Opening up of the Indian Economy
b. Balance of Payments

4. Export-Import Policy
5. Regional Economic Cooperation
6. Social Structure in India
a. Multiculturalism
b. Demographic Trends
c. Urbanization and Migration
d. Gender Issues

7. Social Justice
a. Positive Discrimination in favor of the under privileged
b. Social Movements
c. Indian Political System
d. Human Development .
e. Social Sectors in India, Health and Education.

8. General Topics
a. Risk Management in Banking Sector
b. Basics of Derivatives: Forward, Futures and Swap
c. Changing Landscape of Banking sector
d. Recent Developments in the Financial Sector, Portfolio Investment, Public Sector Reforms, Disinvestments
e. Financial Inclusion- use of technology
f. Alternate source of finance, private and social cost-benefit, Public Private Partnership
g. Corporate Governance in Banking Sector, role of e-governance in addressing the issues of corruption and inefficiency in the government sector.
h. The Union Budget – Direct and Indirect taxes; Non-tax sources of Revenue, GST, 13th Finance Commission and GST, Finance Commission, Fiscal Policy, Fiscal Responsibility and Budget Management Act (FRBM)
i. Inflation: Definition, trends, estimates, consequences, and remedies (control): WPI, CPI - components and trends.

Along with the above topics there are some other topics which have equal emphases as of above such as: Nature of Indian Economy, Opening up of Indian Economy – LPG, Indian Planning, Poverty, Alleviation, Employment Generation, Population, Agriculture, Industry and Labor, IMF (Indian Monetary Fund), World Bank, WTO (world Trade Organization), Regional Economic Cooperation, Social Structure in India, Urbanization, Migration, Gender Issues, Education, Health, SC/ST/OBC issues and schemes, Social movement, Indian Political system, Human development, Current affairs, etc.

Suggested reference material:

Books

• An introduction to Economics – A W Stonier and D C Hauge- This book provides a general introduction of Economics theory. Go through the book systematically as some parts of book are more useful for advanced study. The book concentrates on developments in macro-economic theory.
• Monetary Theory and Public Policy – Kenneth Kurihara- This book deals with the public policy, monetary theory, money, relation with public policy and control measures. This book also provides implications of monetary theory for public policy. For better understanding current economic problems, the concepts are described in easy way or format as the concepts apply particularly to problems of banking and money.
• Indian Economy- Performance and Policies- Uma Kapila.(Series of Books) or Mishra and Puri. (Latest Edition)- Entire history of Indian economy is covered in this book after independence. It is helpful not only in Phase II of RBI Grade B but is also helpful in Interviews.
• Indian Economy – R. Dutt and KPM Sundaram- Comprehensive survey of Indian Economy is presented in this book. GDP growth, investments, savings and developments in the sectors of agriculture, industry and services etc. are surveyed. This book also presents the economic scenarios, which have been changing at both national and global levels continuously.
• NCERT books on Indian Economy- NCERT will clear lots of basic things related to the history of the Indian economy.
• Economic Growth and Development – Mayer and Baldwin- This book defines growth theory which provides rich and versatile analytical framework and examines fundamental questions of economic development, structural transformation, and macroeconomic development, a model how to presents dynamic dual economy approach in more rigorous, quantifiable, and explicitly to development, Common microeconomic its foundation and notation.
• Public Finance – K K Andley and Sundaram
• Financial Management – Prasanna Chandra
• Growth And Development: Devraj Ray
• Sociology: C.N. Shankar Rao

News Papers: The Economic Times, The Hindu, Business Standard Weekly or Monthly Magazines or Bulletins, Major economic newspapers and Economic and Political Weekly

Reports: Economic and Political Weekly, Southern Economist, Yojana and Business India Yojana and Kurukshetra

RBI Bulletins Reports: Economic Survey and World Development Report of India, Union Budget and various government schemes, speeches, circulars, and notifications.