Is RBI Grade B a very tough exam?
RBI GRADE B is a prestigious job as compared to other government jobs after IAS/IPS in our country. Each exam has its own toughness levels and marking criteria for qualifying the exam. Being the central bank RBI regulates monetary policies, financial stability, regulates currency and credit system of our country. So the officers in RBI must possess the requited qualification and should be tested accordingly to work with intelligent minds to handle directly finance of our country. Not only RBI Grade B officer’s exam is tough but other government exam if proper practice and study is not completed according to the syllabus. There are three phases of RBI Grade B Officer Exam be selected, Prelims or Phase I, Phase II or Mains, followed with the personal interview.
I Phase or Prelims - This phase consists of four sections (i) Reasoning consists of puzzles, sitting arrangements, order, syllogism etc., which needs regular practice is of 60 marks, (ii) In English clear the basic grammatical concepts, read newspaper editorials to enhance vocabulary and better understanding passage easily is of 30 marks, (iii) Level of Quantitative Aptitude is up to 10th standard which consists of number series, percentage, speed time and distance, trains, boats, profit and loss, average etc., is of 30 marks and (iv) General Knowledge or awareness of 80 which includes current affairs related to each and every field including politics, sports, awards etc., marks, all these section should be completed within 2 hours. Those preparing for insurance or banking exams can crake Phase 1 with ease as they are aware of the topics as they are familiar with the pattern and level of toughness.
Phase II or Mains- This phase consist of three separate papers carrying hundred marks to complete these papers 90 minutes time is provide to solve each paper. These are subjective papers which includes Economic and Social issues, English, and Management & Finance.
Economic and Social issues paper consists of basic economic structure of India, social issues, social problems in India, etc. This paper can be covered via., reading newspaper about Union Budget and economic survey of the respective year. There are several books and other study materials to cover this paper.
As the papers is descriptive type the candidates have to write long essay which needs more skills as the answers should be given in limited number of words. In limited words one has to answer maximum so words selection should be watchful to complete the sense of answer. As being habitual of attempting multiple-choice questions we dread in writing long essays for those topics which we know barely. In this part one has to write 500+ words for the given topic. This part includes unseen comprehensions and has to answer accordingly.
Finance and Management is considered a bit difficult part of the exam. For this proper strategy is needed. Selective study should be done and topics should be selected accordingly as mentioned in Syllabus of RBI Grade B Officer. Number of practical questions should be practice for Numerical based questions as they are part of the syllabus and are important. Not much but some portion of the Finance and Management portion numerical questions are asked which are related to Bond valuation, Problems based on IRR (Internal Rate of Return), Questions related to NAV (Net Asset Value), Accounting Ratios, Bond yields and Price of Bonds, Balance Sheet and Income Sheet, Risk Management, Time value of money (Specially growing annuities), Ratio analysis, Cost of capital, Capital structure, Cash flow statement, Fund flow statement, Derivatives (Valuation of options), Capital budgeting, etc.
Personal Interview/ Interview: Candidates clearing the previous two phases of exam successfully are invited for personal interview or face-to-face interviews. Interviews are nothing but personality test, where questions are asked according to profile and information furnished in Curriculum Vitae or resume. This is the final and last phase to be a RBI Grade B Officer. After qualifying this phase successfully the selected candidates are selected for joining the posts are well informed about their duties and the place of posting.
There are various sources for study material and to prepare the best for the exam. Few of them are:
1. For ESI part one should follow the following books:-
• Public Finance – K K Andley and Sundaram
• Financial Management – Prasanna Chandra
• Growth And Development: Devraj Ray
• Sociology: C.N. Shankar Rao • NCERT books
2. For English part one should follow the following books:-
• High School English Grammar by Wren and Martin
• Word Power Made Easy by Norman Lewis
• Objective General English by Dr. R.S Aggarwal & Vikas Aggarwal
• Objective English by Hari Mohan Prasad & Uma Rani Sinha (McGraw Hill Publications)
3. For FM part one should follow the following books:-
• Public Administration from courses of IGNOU
• Indian Economy by Ramesh Singh (Latest edition)
• Newspaper reading (The Economics Times, Indian Express or Hindu)
• NCERT class 11, 12 Economy textbook
• NIOS Economy course
• BA finance administration
4. Other sources are:
• News Papers: The Economic Times, The Hindu, Business Standard, Weekly or Monthly Magazines or Bulletins (Economic and Political Weekly, Southern Economist, Yojana, Business India, RBI 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.
• Various Aaps
• YouTube
• Various websites
• The most important one is taking a mock test every day for each section so that proper examination or self-analysis could be done.
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