RBI conducts a 3-Phase recruitment process before appointing you as a Grade B Officer which include 2 online examinations and an interview.
Phase I – Objective Type Online Examination (General Awareness, English Language, Quantitative Aptitude, Reasoning) with a duration of 120 minutes and this will be out of 200 marks. Phase I is considered just as a primary screening process and its score will not be counted for the final after the interview.
Phase II – Objective & Descriptive Type Online Examination
Note*: From the year 2016 onwards there will not be Economics and Statistics option in Paper III, it has been withdrawn by RBI. We have also been updated it in the details.
Phase II examination score will be counted for the final. Below you can find each of the papers of Phase II exam in detail and we also included the reference materials for each of the topics.
Phase II Papers & Topics
Paper-I – Economic and social Issues:
Growth and Development – Measurement of growth: National Income and per capita income – Poverty Alleviation and Employment Generation in India – Sustainable Development and Environmental issues. Economic Reforms in India – Industrial and Labour Policy – Monetary and Fiscal Policy – Privatization – Role of Economic Planning. Globalization – Opening up of the Indian Economy – Balance of Payments, Export-Import Policy – International Economic Institutions – IMF and World Bank – WTO – Regional Economic Co-operation. Social Structure in India – Multiculturalism – Demographic Trends – Urbanization and Migration – Gender Issues – Social Justice : Positive Discrimination in favor of the under privileged – Social Movements – Indian Political System – Human Development – Social Sectors in India, Health and Education.
Suggested reference material:
- Indian Economy: Uma Kapila.(Series of Books)
- Indian Economy: Mishra Puri. (Latest Edition)
- Growth And Development: Devraj Ray
- Sociology: C.N. Shankar Rao
- Economic Times
- Business Standard
Weekly/Monthly Magazines/Bulletins /Reports:
- Economic and Political Weekly
- Southern Economist
- Business India
- RBI Bulletins
- World Development Report
- Economic Survey of India
Paper-II -English (Writing Skills):
The paper on English shall be framed in a manner to assess the writing skills including expression and understanding of the topic.
Paper-III -Finance and Management:
(a) Financial System
- Regulators of Banks and Financial Institutions
- Reserve Bank of India- functions and conduct of monetary policy, Banking System in India, Financial Institutions – SIDBI, EXIM, NABARD, NHB, etc.
(b) Financial Markets
Primary and Secondary Markets (Forex, Money, Bond, Equity,etc.), functions, instruments, recent developments.
(c) General Topics
- Risk Management in Banking Sector
- Basics of Derivatives: Forward, Futures and Swap
- Changing Landscape of Banking sector
- Recent Developments in the Financial Sector, Portfolio Investment, Public Sector Reforms, Disinvestments
- Financial Inclusion- use of technology
- Alternate source of finance, private and social cost-benefit, Public-Private Partnership
- Corporate Governance in Banking Sector, role of e-governance in addressing the issues of corruption and inefficiency in the government sector.
- The Union Budget – Direct and Indirect taxes; Non-tax sources of Revenue, GST, Thirteenth Finance Commission and GST, Finance Commission, Fiscal Policy, Fiscal Responsibility and Budget Management Act (FRBM),
- Inflation: Definition, trends, estimates, consequences, and remedies (control): WPI, CPI – components and trends.
Suggested reference material:
- An introduction to Economics – A W Stonier and D C Hauge
- Monetary Theory and Public Policy – Kenneth Kurihara
- Indian Economy – Mishra and Puri
- Indian Economy – R. Dutt and KPM Sundaram
- Economic Growth and Development – Mayer and Baldwin
- Major economic newspapers and Economic and Political Weekly
- Public Finance – K K Andley and Sundaram
- Financial Management – Prasanna Chandra
Management: its nature and scope; The Management Processes; Planning, Organisation, Staffing, Directing and Controlling; The Role of a Manager in an Organisation. Leadership: The Tasks of a Leader; Leadership Styles; Leadership Theories; A successful Leader versus an effective Leader. Human Resource Development: Concept of HRD; Goals of HRD; Performance Appraisal – Potential appraisal and development – Feedback and Performance Counselling – Career Planning – Training and Development – Rewards – Employee Welfare. Motivation, Morale and Incentives: Theories of Motivation; How Managers Motivate; Concept of Morale; Factors determining morale; Role of Incentives in Building up Morale. Communication: Steps in the Communication Process; Communication Channels; Oral versus Written Communication; Verbal versus non-verbal Communication; upward, downward and lateral communication; Barriers to Communication, Role of Information Technology. Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate Governance.
Phase III – Interview (will be of 50 marks)
Final merit list will be published after the interview by adding your Phase II marks with interview marks. Document will be verified at the time of interview. Its all up to RBI to decide the cutoff marks.