!!!!
Hi guys under qualification section in application form I have filled my BTech marks under Science category. Will it be a problem?? I hope that engineering comes under sciences category.
can any1 suggest a good book for Phase I preparation ?
Thanks in Advance
Previous question papers for RBI Grade B (Arranged from different sources and claimed as based on memory) shows that the general knowledge section of phase 1 and Indian Economics are almost equivalent to the level of IBPS -CWE PO, Although Economics in phase 2 is conceptual which need the basic knowledge of finance sector specially banking
Anyone here who has previously taken this grade B exam , Please Share some experience as what sort of reasioning and Quant and other sections. This will be a great help
Paid up capital for both
payment and small banks is 100cr
PM has laid foundation stone of _______th terminal at Jawarharlal Nehru port trust in Mumbai
anyone from lucknow?
anyone who tried the first practicemock .com mock?
What are we supposed to fill for stream for B Tech graduate? Is it science or others and then write as btech in next textbox? Thanks in advance.
How many PO candidates here have applied for RBI Grade B officer exam?Have you informed your Bank/Head office regarding the exam?
Hi guys my cgpa is 8.8 and my institute doesn't have any criteria to change into percentage. While applying should write my ℅ as 88℅ or the calculation RBI has given in the table I.e 8.8*60/6.75. Please clarify.
Do we need to study all five year plans??
Hi guys, how to prepare for general awareness for phase 1 .what topics are majorly concentrated in general awareness and from where can i start my preparation for it?
Hello, i know that you all are very busy preparing for your entrances but please take out some time and help me if you can. Any leads are welcome.
My university awards only CGPA and does not define any criteria to covert it into exact percentage in the degree/passing certificate.It just mentions the broad bracket for percentage received for example:
"Student receiving grade B means his percentage is between 55 to 65%"
I have received a grade B and my CGPA is 6.2 in aggregate of all semesters.
Now according to RBI, my CG should be above 6.75 for it to be considered as above 60%.
But after I asked for 'certificate for % received' in graduation, my university issued a letterhead stating my CG, my percentage received (which according to them is 62%) and my division/class (First class)
My query is that will this letterhead be accepted by RBI? It is not a certificate but is used for semester results/gradesheets and hence is a legitimate piece of paper signed by my Chairperson of Academic Affairs.I am in a fix, if RBI won't accept this then i might have to start preparing for other exams.
Thank in advance.
Hi Guys,
Anybody having previous question papers of phase 1 exam?
I googled, but couldn't find phase 1 previous papers
phase 2 is available
please help
Is there any particular book for aptitude for rbi grade b officer phase 1 exam....pls share the book list if its there
GK
Update: FRBM Act, 2003
Dear Readers,
The FRBM Act, 2003, has been in the news often and can be very important for your upcoming exams. In this article, let us look at the Fiscal Responsibility and Budget Management (FRBM) Act's objectives, key provisions, criticisms of the same and the amendments made to it.
Background
The FRBM Act was passed to reduce fiscal deficit and make the government responsible for achieving "long-term macroeconomic stability". As per this act, it is the government's responsibility to ensure overall financial discipline.
Objectives of the FRBM Act:
- Maintain transparency in fiscal management system in the country
- Keep a check on governments living beyond their means to reduce debt burden on future generations.
- Restrict uncontrolled government borrowings as it crowds out private investments, increases inflation or leads to balance of payments deficit, thereby causing macroeconomic instability.
- Do away with impediments to enable the RBI frame an effective monetary policy and control inflation.
Main provisions of the original act
The act stipulates the Union government to-
- Annually reduce revenue deficit by 0.5% and eliminate it wholly by 2008-09
- Annually reduce fiscal deficit by 0.3% and bring it down to 3% of GDP by 2008-09
- Not give guarantee to loans acquired by PSUs and state governments for over 0.5% of the GDP in a financial year
- Present three additional documents along with the annual budget, namely the Macroeconomic Framework Statement, the Medium Term Fiscal Policy Statement and the Fiscal Policy Strategy Statement.
- Cease borrowing directly from the RBI from 2006.
Implementation of the act
- Implementation of the FRBM act yielded certain positive outcomes in the Centre as well as the states. For instance: In 2007-08, the fiscal and revenue deficits of the Centre as a part of GDP at market prices were 3.39 and 1.6 respectively.
- The Union government's interest payments as percent of GDP declined (though not considerably) from around 4.5 % in 2003-04 to 3.57 in 2007-08.
- The Centre's total expenditure as a proportion of GDP declined from around 17 % in 2003 to around 14 % in 2006-07.
- However, its development expenditure as a part of the GDP declined in the post FRBM period from 7.49% in 2002-03 to 6.42 % in 2005-06. In the states, it registered a marginal increase indicating that in a high interest rate regime, states have been more sincere than the Centre in fulfilling development needs.
Criticisms of the act
- While the act is based on the supposition that fiscal deficit is the key parameter adversely affecting all other macroeconomic variables, many development economists opine that if the fiscal deficit is predominantly in the form of capital expenditure, it promotes growth through demand and supply linkages. This can create so much demand in the economy that private investment may crowd-in to add to autonomous investment.
- Then Finance Minister P. Chidambaram said that the act might require the government to severely cut back on social expenditure essential to create productive assets and for overall upliftment of India's rural poor.
- Drawing parallels of international laws, experts have pointed out that its relevance of FRBM Act is bound to decrease over time and is liable to be amended to suit lawmakers. For instance: enactment of debt-ceilings in the US.
- The act prohibited the Centre to directly borrow from RBI, thereby ruling out a cheap source of funds and making the Government to borrow at much higher rates.
Suspension of the act and efforts for its reestablishment
- Due to the global financial crisis in 2008, the deadlines for the implementation of the fiscal consolidation targets were temporarily suspended.
- As a result, fiscal deficit increased to 6.2% of GDP in FY09 as against the target of 3% set by the Act for FY09 period. However, the crisis necessitated an increase in government expenditure in order to boost demand in the economy.
- The IMF in 2009 and recently in 2011 the Economic Advisory Council to the Prime Minister (PMEAC) advised the Centre to reconsider the provisions of the act and come up with a successor.
- The Economic Survey 2013-14 called for a new FRBM Act with stricter norms for high quality fiscal adjustment based on improvements in both tax and expenditure. The Survey stated that the modified act should consider business cycles, and have strong penalties.
Amendments made to the original FRBM Act
Later through the 13th Finance Commission and the Finance Act 2012, following were the amendments made:
- In 2012, besides the three documents, the Centre should present the Medium Term Expenditure Framework Statement (MTEF). This sets forth a three-year rolling target for expenditure indicators, specifying underlying assumptions and risks involved.
- Effective revenue deficit (difference between revenue deficit and grants for creation of capital assets) was made a new fiscal parameter.
- With the Finance Act 2015, the target dates for achieving the approved effective deficit and fiscal deficit rates were further extended. The effective revenue deficit, which had to be eliminated by March 2015, will now need to be eliminated by March 2018. The 3% target of fiscal deficit to be achieved by 2016-17 has now been shifted by one more year to the end of 2017-18.
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I am unable to open the examination form to fill when I click on www.rbi.org.in could please people help me..
Have you taken this mock? What is the level guys? I am scoring 24. Is it good or bad?