JAIIB IE & IFS Syllabus 2024, Know All the Topics

JAIIB IE & IFS Syllabus 2024

JAIIB IE & IFS Syllabus: The Indian Institute of Banking and Finance or IIBF conducts the JAIIB exam twice a year. The Junior Associate for the Indian Institute of Banking or JAIIB exam is the first promotional exam for banking professionals. Indian Economy and Indian Financial System is the first paper of four for the exam. This article will provide a detailed JAIIB IE & IFS syllabus.

JAIIB IE & IFS Syllabus – Exam Pattern

Before we get into the syllabus, let’s take a look at the question and mark distribution for IE & IFS.

Subjects	No. of Questions	Total Marks	Duration
Indian Economy & Indian Financial System	100	100	2 hours

As you can see, the paper consists of 100 questions for a total of 100 marks. The paper is of a 2-hour duration. There is no negative marking and candidates require a minimum of 50 marks out of 100 to clear the paper.

JAIIB Indian Economy and Indian Financial System Syllabus

Paper 1 of JAIIB is Indian Economy and Indian Financial System. The paper consists of a total of 4 modules as listed below:

• Indian Economic Architecture
• Economic Concepts Related to Banking
• Indian Financial Architechture
• Financial Products and Services

IE & IFS Module A Syllabus – Indian Economic Architecture

The syllabus for Module A of IEIFS is below:

Unit Name	Topics
Indian Economy- An Overview	Evolution of Indian Economy, Basic Characteristics of Indian Economy, Indian Economy in Pre-British period, Economy till 2008 & after 2008, Structural changes in Indian Economy
Economic Planning in India	Definition of Economic Planning, History of Economic Planning, Objectives of Economic Planning, Types of Planning, Achievements of Planning, and Financial resources for 5-year plans.
Sectors of the Indian Economy	Role & Importance of Primary, Secondary, Tertiary Sector, Quaternary & Quinary Sectors, Different Revolutions in Primary sector, Difference between the sectors, GDP contribution of different sectors- Agriculture, Industry, Services, Employment growth rate in Secondary sector, Sunrise Sector of Indian EconomyOrganised and Unorganised sectors
Role of Priority Sector and MSME in the Indian Economy	Definition & Role of Priority Sector, List of Priority Sectors identified in India, Priority Sector Lending Norms, Definition of MSME, Role & Significance of MSME in economic development, Contribution of MSME in GDP, Recent Initiatives in MSME sector viz., Atmanirbhar Bharat package, Make in India, Start-up India, Stand-up India, etc.
Infrastructure including Social Infrastructure	Infrastructure & Economic Development, Energy, Power, Transport system viz., Rail, Road, Civil Aviation, Concept of Social Sector & Social Infrastructure, Health, Education, Family Welfare, and Development of Health Infrastructure
Globalization – Impact on India	Globalization and its Advocacy, Globalisation and its Impact on India, Fair Globalisation & the Need for Policy Framework, Globalisation in reverse gear –The Threatened Re-emergence of Protectionism.
Economic Reforms	A brief overview of Transformation, Economic Transformation – Real Sector, Economic Transformation – Financial Sector, Economic Transformation – Integration with the Global Economy, and Economic Reforms in India.
Foreign Trade Policy, Foreign Investments, and Economic Development	FTP – Structural Changes during the 1990s, FTP policy – 2015-2020, Challenges to be addressed in upcoming FTP, FDIs, FIIs and Recent trends, Economic development vs economic growth, Importance of economic development as a dimension, etc.
International Economic Organizations (World Bank, IMF, etc.)	IMF and World Bank, WTO- India and WTO, Regional Economic Co-operations, Recent International Economic Issues
Climate change, Sustainable Development Goals (SDGs)	Core elements of Sustainable Development, Global Issues, and initiatives, India’s progress in SDGs including Climate change, and CSR Activities.
Issues facing Indian Economy	Poverty Alleviation, Jobless growth, Rising Inequalities, Migration, and excessive pressure on resources, Possible remedies, and Pandemic situations

JAIIB IE & IFS Module B Syllabus – Economic Concepts Related to Banking

The following table gives the syllabus for Module B of IE & IFS.

Unit	Topics
Fundamentals of Economics, Microeconomics,  Macroeconomics and Types of Economies	Economics – An Introduction Microeconomics and Macroeconomics, Types of Economies, Market, Command, and Mixed Economies
Supply and Demand	The Demand Schedule, Forces behind the Demand Curve, shifts in Demand, The Supply Schedule, Forces behind the Supply Curve, shifts in Supply, Equilibrium of Supply and Demand, Effect of a Shift in Supply or Demand, Interpreting Changes in Price and Quantity
Money Supply and Inflation	What is Money? Money Supply, Inflation, Causes of Inflation, Measures of Inflation
Theories of Interest	Classical Theory of Rate of Interest, Keynes’ Liquidity Preference Theory of Rate of Interest, Money Demand Curve, Determination of Rate of Interest: Equilibrium in the Money Market, Effect of an Increase in the Money Supply, shifts in Money Demand or Liquidity Preference Curve, Hicks-Hansen Synthesis: IS-LM Curve Model
Business Cycles	Characteristics of a Business CyclePhases of a Business Cycle
Monetary Policy and Fiscal Policy	Tools of Monetary Policy, How did Monetary Policy in India Respond to the Global Financial Crisis? Fiscal Policy, FRBM Act
National Income and GDP Concepts	Computation Utility
Union Budget	Receipts, Expenditure Plan, Expenditure Deficit Concepts

JAIIB IE & IFS Module C Syllabus – Indian Financial Architechture

The following table gives the units and topics under JAIIB IE & IFS Syllabus for Module C.

Unit	Topics
Indian Financial System – An Overview	What is a Financial System? Phase I: Pre-1951 organization, Phase II: 1951 to Mid-eighties organization, Phase III: Post-Nineties Organisation, Narasimham Committee (1991) on the banking system in India, Reform of the Banking sector (1992-2008), Present Status of Banking System
Indian Banking Structure	Functions, Development of Banking in India, Scheduled Commercial Banks- Types and functions, Local Area Banks, Regional Rural Banks, Cooperative Banks: Types, Payment Banks and Small Finance Banks, NBFCs, Key RBI Guidelines.
Banking Regulation Act, 1949, and RBI Act, 1934	Background of Enactment, PART-I Reserve Bank of India Act, 1934: Chapter I to Chapter V, Schedules to the RBI Act, 1934PART-II Banking Regulations Act, 1949, Background and Structure of the Banking Regulation Act: Section 1 to Section 56
Development Financial Institutions	Evolution of Development Financial Institutions in India, Gaps in the Post-Independence Financial System, Objectives of Development Financial Institutions, Classification of DFIs, Role of DFIs in the Indian Economy, Changing Role of DFIs and the Emergence of Universal Banks, Industrial Finance Corporation of India (IFCI), Industrial Credit and Investment Corporation of India (ICICI), Industrial Development Bank of India (IDBI), Small Industries Development Bank of India (SIDBI), Export Import Bank of India (EXIM Bank), National Bank for Agriculture and Rural Development (NABARD), National Housing Bank (NHB), National Bank for Financing Infrastructure and Development (NaBFID).
Micro Finance Institutions	Evolution of Microfinance in India, Grameen Bank Model, Delivery of Microfinance, SHG-Bank Linkage program, Joint Liability Groups (JLGs), Regulatory Framework for Microfinance Institutions, Inclusion of Bank Finance to Microfinance Institutions in Priority Sector Lending, Regulatory Framework.
Non-Banking Financial Companies	What is a Non- Banking Financial Company (NBFC)? The Evolution of NBFCs in India, the Role of NBFCs in Promoting Inclusive Growth of India, Regulators of NBFCs, Classification of NBFCs, Regulatory Oversight by RBI on NBFCs, Types of NBFCs, Concept of Owned Funds and Net Owned Funds (NOF) for NBFCs, Bank Finance to NBFCs, Fair Practice Code for NBFCs, Applicability of Ombudsman Scheme to NBFCs, Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs.
Insurance Companies	History and Development of Insurance, Privatisation, and Foreign Direct Investment (FDI) in the Insurance Sector, Insurance Business Globally and in India. Insurance Penetration and Density, Number of Insurance Companies Operating in India, Legislations Governing Operation of Insurance Companies, Insurance Intermediaries, Reinsurance Insurance, Repository’s-Insurance Account
Indian Financial System – Regulators and Their Roles	Role of Financial Sector Regulators in an Economy, Reserve Bank of India (RBI)Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDA), Pension Fund Regulatory and Development Authority (PFRDA)
Reforms & Developments in the Banking Sector	Bad Banks, Infrastructure financing, Formation/role of NaBFID-National Bank for Financing Infrastructure & Development, Basic concepts on EASE.

JAIIB IE & IFS Module D Syllabus – Financial Products and Services

The syllabus for Module D of IEIFS is below:

Unit	Topics
Overview of Financial Markets	What is a Financial Market? Evolution of the Financial Market, Segments of Financial Markets, Functions of Financial Markets, Price Discovery.
Money Markets and Capital Markets	Call Money, Notice Money and Term Money, Treasury Bills, Certificates of Deposit, Commercial Paper, Repo, Tri-Party Repo, Bill Rediscounting Scheme (BRDS), and Long-Term Repo Operations (LTRO).
Fixed Income Markets – Debt / Bond Markets	Government Securities, Bond Valuation and Theorems, Auction of Government Securities, Primary Dealers, Fixed Income Money Market and Derivatives Association of India (FIMMDA), RBI Retail Direct Scheme (RDS), Corporate Bond Market, Inter-Corporate Deposits.
Capital Markets and Stock Exchanges	Primary Market, Secondary Market Stock Exchanges in India, Financial Products/Instruments Dealt with in the Secondary Market, Regulatory Requirements Specified by SEBI for Corporate Debt Securities, Commonly Used Terms in the Capital Market, Types of Capital Issues in the Primary Market, Eligibility Norms for Making Capital Issues, Intermediaries in an Issue in the Primary Market, Applications Supported by Blocked Amount (ASBA) Qualified Institutional Placement (QIP).
Forex Markets	Profile of Foreign Exchange (Forex) Market, Evolution of the Forex Market in India, Characteristics of the Forex Market, Market Participants, LIBOR and Alternate Reference Rates (ARRs), Foreign Exchange Dealers Association of India (FEDAI), Foreign Exchange Management Act (FEMA), 1999, FX-Retail Platform, US Dollar Index (USDX), American Depository Receipt (ADR) and Global Depository Receipt (GDR).
Interconnection of various markets/Market Dynamics	Process of Interconnectedness of Financial Markets, Reasons for interconnectedness, Importance of Interconnectedness of Financial Markets, Heterogeneity of Financial Markets, Achievement of Market Integration in India, Different Levels of Market Integration, Asian Clearing Union, Benefits and Costs of Interconnectedness of Markets, Interconnectedness of the Money Market, Interconnectedness of the Credit Market, Interconnectedness of the Capital Market, Interconnectedness of the Forex Market, Integrated Treasury Operations, Contagion Effect.
Merchant Banking Services	Definition of Merchant Banking, Historical Background, Development of Merchant Banking in India, Merchant Banking vs. commercial Banking, Licensing Requirements, SEBI Regulations on Merchant Banking, Activities of Merchant Banks, Key Policy Requirements as per SEBI Regulations, Key Codes of Conduct as per SEBI Regulations.
Derivatives Market including Credit Default Swaps	What is a Derivative? History of Derivatives, Size of the Derivatives Market, Underlying Assets, Exchange Traded and Over-the-Counter Markets, Participants in the Derivatives Market, Functions of Derivatives, Types of Derivatives, Forward Contracts, Futures, Options, Swaps, Credit Default Swaps (CDS), RBI guidelines on Credit Default Swaps, Documentation for Derivatives – ISDA Agreement.
Factoring, forfeiting & Trade Receivables Discounting System (TReDS)	What is Factoring? History of Factoring, Types of Factoring, Domestic Factoring, International Factoring, Bills Discounting vs Factoring, Fees Involved in Factoring, Advantages of Factoring, What is Forfaiting? Mechanism of a Forfaiting Transaction, Fees Involved in Forfaiting, Advantages of Forfaiting, Differences between Factoring and Forfaiting, What is TReDS? Participants under TReDS, Process Flow under TReDS, Eligibility Criteria to Set Up and Operate TReDS.
Venture capital	Concept of Venture Capital, Evolution of Venture Capital in India, Characteristics of Venture Capital Finance, Stages of Venture Capital Financing, Process of Venture Capital Financing, Regulatory Aspects of Venture Capital Funds, Modes of Venture Capital Financing, Advantages and Disadvantages of Venture Capital Financing, Exit Routes for Venture Capital Finance.
Leasing and Hire Purchase	Lease Finance, Evolution of Leasing in India, Types of Leasing, Advantages and Disadvantages of Lease Finance, Market Share of Various Leased Asset Classes, Impact of Leasing on Financial Ratios, Legal Aspects of Leasing, Regulatory Aspects of Leasing Activities, Hire Purchase, Evolution of Hire Purchase in India, Legal Aspects of Hire Purchase, Parties to a Hire Purchase Contract, Leasing and Hire Purchase Compared,
Credit Rating agencies & their functions	What is Credit Rating? Credit Rating Agencies (CRAs); History of Credit Rating; Characteristics of Credit Rating; Importance of Credit Rating, Benefits of Credit Rating, Factors Considered while Rating Companies/Instruments, Process of Credit Rating, Credit Rating Symbols, Ratings Outlook, Regulations for CRAs in India, Fees for Credit Rating, What is Credit Scoring? , Credit Information Companies (CICs) in India, Membership to CICs, Regulatory Guidelines Governing CICs, Credit Scores, Difference Between Credit Ratings and Credit Scores.
Mutual Funds	Mutual Funds and their Functions, Management of Mutual Funds, Evolution of Mutual Funds, Classification of Mutual Funds, Role of Mutual Funds, Supervision of Mutual Funds, New Fund Offer, Risks Associated with Mutual Funds, Risk Depiction – Riskometer, Net Asset Value (NAV), Expenses Ratio, Load/No-Load Funds, Strategies for Investment in Mutual Funds, Role of Mutual Funds in the Capital Market, Alternative Investment Funds.
Insurance Products	What is Insurance? Fundamental Principles Governing Insurance Products, Classification of Insurance, Types of Insurance Business, Group Insurance Schemes, Micro Insurance, Insurance-based Social Security Schemes, Bancassurance, Insurance Ombudsman Scheme, and Government Business Products (Social Security Schemes like PMJJBY, PMSBY).
Pension Funds (include APY, NPS)	Pension System and its Aspects, Pension Products, Different Types of Pension Schemes, Employees Provident Funds Scheme, Public Provident Fund (PPF) Scheme, Insurance Annuity Schemes, National Pension Scheme (NPS), Atal Pension Yojana (APY).
Guidelines on Para Banking & Financial Services provided by Banks	Types of Para Banking and Financial Services provided by Banks, Organisation of Para-Banking and Financial Services Activities by a Bank, Para-Banking and Financial Services Undertaken by a Bank, Disclosure of Commissions/Remunerations earned from para-banking and Financial Services Activities.
Real Estate Investment Funds / Infrastructure Investment Fund (concept)	What are Real Estate Investment Trusts (REITs), History of REITs, Organisation of REITs, Types of REITs, Difference Between REITs and Real Estate Mutual Funds, Advantages and Disadvantages of Investing in REITs, Comparison of Various Modes of Investment in Real Estate, Taxation Guidelines for Investors of REITs, Regulatory Guidelines for REITs. What are Infrastructure Investment Trusts (InvITs), Organisation of InvITs, Rationale of Setting up InvITs, Activity of InvITs in India, Types of InvITs, Advantages and Disadvantages of InvITs, InvIT’s Revenue Model, Taxation on Investments in InvITs.

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