How to Approach ESI & FM Descriptive Papers of RBI Grade B?

The addition of descriptive papers in Phase-2 of the RBI Grade B 2021 exam has brought in a new challenge for aspirants. No doubt that you will have to study the subjects of Economic & Social Issues and Finance & Management in-depth now. You will have to understand the fundamentals with utmost clarity. You must acquire knowledge of most of the topics from the syllabus thoroughly to be able to write elaborate descriptive answers in the stipulated time. But no worries we will make sure you get the right guidance to be able to deal with all the concerns troubling you right now. In this blog post, we will discuss the approach to be followed for ESI & FM Descriptive Papers of RBI Grade B?

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How to Approach ESI & FM Descriptive Papers of RBI Grade B?

Let us dig deeper into the descriptive papers for Economic & Social Issues and Finance & Management. 

I. Categories of the Topic for Desc. Questions

Descriptive questions for both ESI & FM can be categorised into three categories:

1. Completely Static Questions (concepts based)

2. Completely Current Affairs Based Questions (current affairs related to the topics of the syllabus)

3. Static + Current Affairs Based Questions

4. Opinions Based Questions (Mostly on Social Issues)

II. Approach for Economic & Social Issues (ESI) Descriptive Paper

Step 01: Get a grip on all imp. concepts. List them down and make sure to understand each one.

Step 02: Expect questions related to Current Affairs, so track all the important events, reports, schemes, policies and have key points ready for these. Coverage: Last 6 months.

Step 03: Make a list of imp. points mentioned in the Union Budget and Economic Survey. Note the points such that you can use them for any type of questions asked from these two sources.

Step 04: For opinion-based questions which would mostly be asked from the Social Issues section, you need to justify the stand you take. Do not spend time preparing points for these. You can use a few data points noted down while studying current affairs for these answers.

Step 05: Practice at least 12-15 answers before you go for the examination.

Start out by Practising Free Descriptive Tests for ESI

Download RBI Gr. B 2021 Ph-2 Memory Based Questions Here


III. Approach for Finance & Management (F&M) Descriptive Paper

Step-01: Start with the Management section. The desc. ques. from this section would be static in nature. Be thorough with the concepts.

Step-02: While reading each chapter, note down keywords for each chapter (as part of various theories/concepts).

Step-03: For the Finance section, make a list of current affairs-related topics (in news lately) and static topics and write down keywords for each one.

Step-04: While writing the answers, make sure you are building your answers around these keywords.  

Step-05: Practice at least 12-15 answers before you go for the examination.

Start out by Practising Free Descriptive Tests for F&M

Download RBI Gr. B 2021 Ph-2 Memory Based Questions Here

IV. Expert Guidance for Descriptive Papers

Get expert guidance for your exhaustive preparation of RBI Grade B Phase-1 & Phase-2. 

V. Sample Descriptive Questions for ESI  

Q.1. According to the UN Report, the gender gap in the labour market is stagnant since 1995. What are the reasons for this gap? (10 Marks) (100-150 words)

Q.2. What is Fiscal Consolidation? What are the government’s steps in this regard? Give suggestions. (15 Marks) (200-250 words)

Q.3. What is stagflation? What are the challenges in dealing with stagflation? In India currently experiencing stagflation? (10 Marks) (100-150 words)

Q.4. What is the Gig Economy? How did the Covid-19 pandemic give a thrust to Gig Economy? (10 Marks) (100-150 Words)

Q.5. What is Migration? What are the causes and effects of migration? (15 Marks) (200-250 Words)

Q.6. What does Indian Pharma need to do to rise to grab the golden opportunity by the pandemic and emerge as the ‘Pharmacy of the World’? (10 Marks) (100-150 Words)

Q.7. Recently with several cooperative banks coming under the watchlist of RBI, highlight the issues faced by the cooperative banks? Suggest measures for improving their conditions. (15 Marks) (200-250 Words)

Q.8. What is the impact of Covid-19 on learning and education? Elaborate on the efforts needed by the Government to tackle the issue of dropouts. (10 Marks) (100-150 Words)

To get answers to all these, watch the complete playlist here

VI. Sample Descriptive Questions for FM

Q.1. What are the prospects and challenges of introducing a digital currency in India?

Q.2. Explain the role and functions of a Bad Bank?

Q.3. Highlight the key points in the report of the 15th Finance Commission.

Q.4. What are the challenges for the banking sector in 2021?

Q.5. Explain the intra-generational and inter-generational issues of equity from the perspective of inclusive growth and sustainable development.

Q.6. Define potential GDP and explain its determinants. What are the factors that have been inhibiting India from realizing its potential GDP?

Q.7. Explain the meaning of investment in an economy in terms of capital formation. Discuss the factors to be considered while designing a concession agreement between a public entity and a private entity?

Q.8. Explain the rationale behind the Goods and Services Tax (Compensation to states) act of 2017. How has Covid-19 impacted the GST compensation fund and created a new federal tension?

Q.9. Inflation targeting is the primary responsibility of RBI. Explain the significance of this role in the light of the Indian economy today.

Q.10. Adherence to corporate governance norms is the immediate need to safeguard the banking system and economy at large in India right now. Elaborate.

Q.11. Highlight the measures taken by the government recently to ensure Financial Inclusion.

Q.12. What was the impact of the global financial crisis on the Indian Economy?

Q.13. What is the regulatory sandbox framework?

Q.14. What is narrow banking?

Q.15. What is the contingency reserve arrangement under BRICS?

Q.16. Explain the quota system within the IMF?

Q.17. Explain the difference between WPI and CPI.

Q.18. What is shadow banking?

Q.19. Discuss in detail the BASEL accords in relation to the banking industry.

Q.20. What is input tax credit under the GST regime?

Q.21. What is deficit financing? 

Q.22. Discuss in detail the measures to control the widening of the fiscal deficit.

To get answers to all these, watch the complete playlist here

VII. ESI & FM Descriptive Mock Tests

Want to test your writing skill, knowledge, and your preparation level? If yes, then take up the descriptive mock tests here and experience the test interface once before you write the Phase-2 examination. 

Take RBI Grade B Descriptive Mock Tests Here

We hope that you liked the content of the blog post about how to approach ESI & FM descriptive papers of RBI Grade B exam 2021 and able to derive gainful insights from it. 

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1. Course Details

RBI Grade B Cracker is designed to cover the complete syllabus for the 3 most important subjects: GA for Phase 1 and Objective + Descriptive portions of ESI + F&M for Phase 2 exam.

Not just that, it also includes Mock Tests & Live Strategy Sessions for English, Quant & Reasoning for Phase 1. The course aims to complete your preparation in time for the release of the official notification.


1.1. Course Features:

RBI Grade B 2021-22 Crash Course Offerings

Video Lessons & Study Notes Mock Tests
1. 90+ Video Classes for ESI & FM


2. LIVE + Revision Sessions for ESI & FM

3. 10+ Descriptive English Classes

4. Detailed Study Notes ESI & FM 5. Current Affairs Capsules & Past Year Papers

1. 6 Descriptive Mock Tests (ESI & FM)


2. 30 Objective Mock Tests (15 – ESI & 15 – FM)

3. 10 Full-Length Mock Tests for Phase 1

4. Topic Tests for each chapter of ESI & FM (1 Markers & 2 Markers)

 *We will get your ESI & FM descriptive answers evaluated!

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