Kindly advise good coaching institutes in Delhi for preparation of RBI Grade B officer exam?
Discussion #2
What is full capital account convertibility?
& India's progress towards full capital account convertibility..
As the central bank of the country, the RBI is the one of the architects of the nation's economy and its decisions touch everyday lives of all Indians. From ensuring stability of interest rates and exchange rates to providing adequate liquidity for productive sectors and ensuring adequate supply of currency, the Reserve Bank of India also monitors flow of credit to desired sectors and ensures orderly development of financial markets and institutions. Through a wide range of functions, the Reserve Bank of India contributes to nation-building.
Entry Level at RBI
RBI recruits in various streams : Gr B DR (Gen) , Research Officer (Economics), RO (Statistics) , Officer in Gr B (Legal), Officer in Grade A (Rajbhasha/Technical/Security), and Assistants i.e. Clerks
A Grade A Officer has designation of Assistant Manager in the scale of Rs. 17,100-1000(11)-28100-EB-1000(4)-32100-1100(1)-33200 (i.e. starting salary equiv to mid scale 1 salaries of PSBs which increases to Scale 2 salaries in a couple of years). A Grade B Officer has designation of Manager in the scale of Rs.21000-1000-30000-EB-1000-32000-1100-36400 (i.e. starting salary equivalent to higher Scale 2 of PSBs which reaches to Scale 3 in 2-4 years, and further to even scale 4 in around 7-9 years).
Note: The above salary structure is subject to revision based on RBI salary settlement due in October 2015.
Almost 70% of Officers recruited in RBI are through RBI Gr B DR Gen exam for verticals other than research and there it is open to all considering no university can teach central banking. They take a good candidate and then it is ON THE JOB training. There is a rumour also that this year onwards RBI Gr B Gen, RO (Econ) and RO (Stats) exams will be hold combined though no official info yet.
Eligibility Criteria:
(a) Age (as on notified date): Between 21 and 30. For candidates possessing M.Phil. and Ph.D. qualification, upper age limit will be 31 and 33 years respectively. For candidates having experience as an officer in Commercial Bank/Financial Institution in Public Sector as also prior experience in Reserve Bank of India, upper age limit is relaxed to the extent of number of years of such experience subject to a maximum of three years. For such candidates, upper age limit should not exceed 33 years including experience. For experience, probationary period will not be reckoned.
(b) Educational Qualifications : i) A First Class Bachelor's Degree with a minimum of 60% marks or an equivalent grade, in aggregate of all semesters / years ; OR ii) A Second Class Master's Degree with minimum of 55% marks or an equivalent grade, in aggregate of all semesters / years; OR iii) A Doctorate Degree; with minimum of 50% marks or an equivalent grade, in aggregate of all semesters / years in Master's Degree; OR iv) Chartered/Cost Accountant/Company Secretary (ACS) with a Bachelor's Degree; OR v) A Post Graduate Diploma in Management / MBA qualification from institutions recognized by Government of India / University Grants Commission, with Graduation / Bachelor's Degree.
Upper age is relaxable by-(a) Three years in the case of OBC candidates if the posts are reserved for them. (b) Five years in the case of: i) SC/ST candidates if the posts are reserved for them, and certain other categories.
Career Prospects:
(i) Pay Scale: Selected Candidates will draw a starting basic pay of `21,000/- p.m. in the scale of `21000-1000-30000-EB-1000-32000-1100-36400 applicable to Officers in Grade B and they 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 56000/-
(ii) 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 candidates will be governed by 'the defined contribution New Pension Scheme (NPS)', in addition to the benefit of Gratuity.
(iii) At certain centres, limited number of residential quarters are available. Facility for securing residential accommodation on lease, however, exists at all centres. Initial appointment will be on probation for a period of two years. At Bank's discretion, the probationary period may be extended upto a maximum period of four years.There are reasonable prospects for promotion to higher grades. Selected candidates are liable to be posted and transferred anywhere in India.
Syllabus:
(I) Phase-I ON-LINE Examination (Objective Type): This Paper for 200 marks consists tests of i) General Awareness ii) English Language iii) Quantitative Aptitude and iv) Reasoning, with composite time of 130 minutes. Candidates have to secure minimum marks separately for each test as well as aggregate, as prescribed by the Board.
(II) Phase-II Written Examination (Descriptive Type): The Phase-II Written Examination (WE) of three Descriptive Type papers - (i) Paper I - English (ii) Paper II - Economic and Social Issues and (iii) Paper III - Finance and Management. Each of these papers is of 3 hours duration carrying 100 marks.
NOTE: The above might change this year in case any pattern change is introduced due to merger of cadres. The change in syllabus though is not expected to be huge.
(i) Paper I - English: Essay, Précis writing, Comprehension and Business/Office Correspondence.
(ii) Paper II - 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 - Privatisation - 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 - Urbanisation and Migration - Gender Issues - Social Justice : Positive Discrimination in favour of the under privileged - Social Movements - Indian Political System - Human Development - Social Sectors in India, Health and Education.
(iii) Paper III - Finance and Management:
Finance :The Union Budget - Direct and Indirect taxes; Non-tax sources of revenue; Outlays; New Measures; Financial Sector Reforms; Capital Market, Money Market and Foreign Exchange Market; Stock Exchanges and their Regulation; Capital Market Intermediaries and their Regulation; Role of SEBI; Functions of the Money Market; Growth and Operation of the Money Market; The Foreign Exchange Market; From FERA to FEMA; Exchange Rate Management; Exchange Risk Management; Role of Banks and Financial Institutions in Economic Development; Regulation of Banks and Financial Institutions; Disinvestment in Public Sector Units.
Management: 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 Counseling - 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.
Areas one one may get to work in as Grade B Officer in RBI
Monetary Authority The Reserve Bank of India constantly works towards keeping inflation under check and ensuring adequate supply of liquidity for the productive sector as also towards financial stability.
Supervisor of the Financial System Prescribes regulations for sound functioning of banks and financial institutions, including non-banking finance companies - Promotes best practices in risk management and corporate governance to protect depositors' interest and to enhance public confidence in the financial system of the country - Encourages use of technology in banks to provide cost-effective service to consumers.
Issuer of Currency Ensures good quality coins and currency notes in adequate quantity - Mops up notes and coins unfit for circulation - Advises the Government on designing of currency notes with the latest security features.
Manager of Foreign Exchange Formulates policies to facilitate external trade and payments, facilitates foreign investments in India and Indian investments abroad and promotes orderly development of foreign exchange markets.
Banker to the Government Maintains accounts of central and state governments. Performs merchant banking function for the central and the state governments - Encourages development and orderly functioning of Government securities market - Advises central and state governments in better cash management.
Payment Systems Work towards stablishment of modern, robust, efficient, secure and integrated payment and settlement system for the country.
Bankers' Bank Ensures adequate liquidity in the financial system and in individual banks, on a daily basis - Performs lender of the last resort function.
Developmental Role Performs a wide range of functions to support national objectives such as ensuring orderly growth and development of financial markets and institutions, creating institutions to serve specialised financial needs and extending the organised financial sector to all parts of the economy.
Under Research Serves as the primary source of information on Indian economy and financial system - Analyses the issues and problems affecting the Indian economy - Renders advice for policy formulation and shaping monetary, banking and financial policies - Prepares the Bank's publications - Warehouses data to enable decision-making.
Strategy to Study:
For phase - 1 most of the questions in GA are from economics, social issues and business. Maths, English and Logical Reasoning papers are mostly standard. So far, non-verbal reasoning questions have not appeared in RBI Phase-1.
For Ph-I, practice is the only solution. One may take RSA/AS for verbal reasoning, and quants. One high school level grammar book, and PD/BSC of twelve months with newspapers and you are done.
Newspapers will work for Phase -2 especially. Read, make summary, try writing in own words and it will help a lot. In addition to Newspapers, One needs to refer to books also for Phase -2. Read NCERT economics and one good book on eco, one book for management and finance each along with multiple newspapers and clear Ph-II and interview.
Many options have been described by people in this forum which includes Kalinga notes, ICAI/ICS/ICWA material, Dautt and Sundaram, Ramesh Singh, Sikdar macro, Oxford University press, Mishra Puri, Handbook on banking, NS Toor, Kiran Publication, R S Aggarwal , Arun Sharma, Compendium of essays ... etc etc .
The interesting part is that there are various options available and none of them is perfect. Finally what matters is how well an individual is able to write. There is no silver bullet, different people might find different strategies/books beneficial for them so far the core remains the same.
Best Of Luck
PS: Notification for 2015
In the first week of July I had an elaborate discussion with certain friends in RBI HR department. Here is a gist of what I learnt about RBI Gr B exam 2015 from HR people at RBI:
Based on some internal committee on Organizational restructuring at RBI, there will be combined selection procedure for Specialist cadres' viz. DSIM and DEPR as well as RBI Gr B Gen posts. Earlier there used to be multiple notifications and tests.
There were four models under discussion. Under every model Phase-1 is common for all candidates. Whereas Phase-II papers are proposed to undergo certain changes in pattern without any drastic changes in syllabus.
It is noteworthy that any addition/drastic change in syllabus has been ruled out.
It is learnt that models have been evaluated and have been send to topmost officials for final selection and approval. Let's hope for the best.
Apparently mandate is to complete the entre process within six months or less from the date of notification. So once the notification is out, entire process will be very fast.
Discussion #3
What is "Derivative" ?
Difference between forward and future ?
Discussion #4
Should we encourage free trade (International), if yes then why, if no then why not ?
Discussion #5
The patterns and trends of FDI in India
Rbi grade b officers notification..ny idea??
WHEN WILL THE EXAM THIS YEAR ???? IS IT CONDUCTED ANNUALLY ????? PLEASE TELL
any one please suggest should i go for a new edition of indian economics by ramesh singh ,i have already 5 th edition with me?
Hello guys!!! im new to this thread.........im trying to cover some part of the syllabus for finance from a book "Money Banking & Finance" by NK sinha....pls suggest a standard book for Finance & Management, which covers the entire syllabus of Finance & Management paper....THANK YOU!!!
This group is for "highly dedicated and determined" aspirants of RBI
grade B officer exam 2015-16 (if RBI will conduct) who want to treat
next year attempt of RBI Gr-B as their last attempt. And ready to
prepare together for phase-I and phase-II f...
BUT The Reality is..
Most of us just want to know only about the notification whether it is out or not but don't want to study together.
Discussion #6
What is Financial Inclusion? Why it is important for Indian Economy?
Hi Rohan ..am Bsc IT graduate having 3 yrs of experience. am i eligible for grade B exam? is rbi conducts seperate exam for lT? Pls help me to solve this quries..Mayur
can we expect the notification in september ? pl tell
anyone has an idea about RBI Grade B notification coz notification na aaye tab tak padhne ka mann nahi karta ..
Hi frnds..i am Bsc IT graduate having 3 yrs of experience. am i eligible for grade B exam? is rbi conducts seperate exam for lT? Pls help me to solve this quries..Mayur
Guys how important are India Year Book and Economic survey 2014-15 for Grade B?
How many of us preparing for RBI grade-B 2015 only
- RBI+IBPS+SBI+SSC(cgl)+UPSC
- RBI
- RBI+IBPS+SBI
- RBI+IBPS+SBI+SSC(cgl)
0 voters
Hi, I want to prepare for Grade B exam, but do not know whether i am eligible or not. I am 31 yrs. old, working in an insurance PSU..Will this experience be considered for relaxation upto 33 yrs. of age? Am i eligible for writing this exam?
how to prepare for phase 2 social and economic issues paper is any book available for this