RBI Grade B ESI Preparation 2024, Know Strategy & Get Free ESI Study Material

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RBI Grade B ESI Preparation

Economic & Social Issues (ESI) is an important section of the RBI Grade B Phase II exam. It tests a candidate’s knowledge of the Economic & Social concepts (static knowledge) and the various issues related to national economic & social issues (current affairs). In the following blog, we have provided the exam pattern, syllabus, resources, and some tips for RBI Grade B ESI Preparation.

RBI Grade B ESI Preparation 2024

First of all, go through the sample paper given by RBI to get an idea of what kind of questions will be asked in the examination. From that, you will get an idea of how deep you need to go into the topics while preparing. These sample papers are generally released by the RBI at the time of the RBI Grade B Notification release. This paper can be divided into two parts.

One is the static part i.e. conceptual which includes basic knowledge of different concepts of macroeconomics like national income, the repo rate, bank rate, fiscal deficit, revenue deficit, budget, inflation, banking sector in India, etc.
The other part of this paper is the dynamic part i.e. the factual part which is current affairs based.

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RBI Grade B ESI Preparation 2024 – Most Important Chapters

Check out the most important chapters of ESI below:

Introduction to Economics
Measurement of Growth
Poverty Alleviation and Employment Generation
Sustainable Development & Environmental Issues
Money & Inflation
Role of Economic Planning
Economic Reforms
Industrial Policy & Labour Policy
Monetary Policy & Fiscal Policy
Introduction to Financial Market
Balance of Payments
Foreign Trade Policy
International Economic Institutions
Regional Economic Cooperation
Demographic Trends
Urbanization & Migration
Social Justice
Social Movements
Indian Political System
Human Development
Health & Education

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RBI Grade B ESI Preparation – Static Part Strategy

The preparation depends on your background. Check out the below points to understand this more clearly:

If you are a category 1 candidate, i.e. either you have an academic background in finance/economics or you are a civil services aspirant, this part won’t be much of a problem for you. Just revise your old notes or economics books that you have already studied a couple of times and that will do.
If you are in category 2 i.e. you are new to economics, you should start by reading economics NCERT textbooks of Class 10, 11, and 12 to get an idea of the basic concepts of macroeconomics. For detailed reading after this, you can refer to RBI Grade B Books 2024.
Another option is to go through the General Studies notes of Economics by Sriram IAS coaching institute as the syllabus for this paper is a subset of the economics syllabus for General Studies paper of Civil services. Moreover, these notes are very lucid, easy to understand, and to the point cover important current events of economic significance which gives a better understanding of the concepts.
For social issues, the questions asked are of a very generic nature and you need not go through any book for that. Just google search the various topics mentioned in the syllabus and read any relevant documents. Apart from this, you should go through a summary of the socio-economic and caste census, etc.

RBI Grade B ESI Preparation – Dynamic Part Strategy

Check out the below mentioned points to know how you can cover the complete dynamic part of RBI Grade B Phase 2 exam.

Make sure you go through all the social sector schemes, welfare programs, and current affairs related to the economics of at least the last 6 months thoroughly.
Go through the budget and economic survey. Remember that you need to read only the summary of the economic survey and not go through the complete survey unless you have ample free time. You will easily get all these notes free of cost online very easily.
After you’re done with this, you can do a selective topic-wise study from IGNOU B.A. economy booklets, if time permits. You can also go through the RBI’s Annual Report very selectively only if time permits.

This will suffice for the dynamic/ current affairs related part.

RBI Grade B ESI Preparation 2024 – Resources

After a thorough analysis of last year’s RBI Grade B question papers, it is found that most of the questions asked in the Economic & Social Issues section come from the following sources:

Economic Survey of India
Budget Summary
Concept Based Books or Notes
NCERT Basic Knowledge
Newspapers (Current events, factual in nature)
Press Information Bureau

Most of the questions are based on facts, figures, numbers, and percentages which makes it important for the candidates to remember these figures. Therefore, based on last year’s question paper we concluded that the following are the three most important sources:

The Hindu Newspaper
The Economic Survey of India
Union budget

However, since the RBI Grade B Exam is unpredictable, you need to go beyond these above-mentioned sources. The above-mentioned sources contain the topics and a brief description of those topics.

RBI Grade B ESI Preparation 2024 – Expert Tips

Along with the general tips, the candidates will get to know the important chapters for objective and descriptive paper. Also check out few questions from previous year papers.

RBI Grade B Strategy for ESI – General Tips

Brush up on your basic concepts.
Current Affairs would dominate here.
Know the latest development related to the topics given in the syllabus.
Descriptive Questions can be of three types: Completely static, Static + Current Affairs + Completely Current Affairs Based, or Opinion Based.

RBI Grade B Strategy for ESI – Important Chapters for Objective Paper

You might expect objective questions from the following topics:

Get thorough with the basic concepts (fundamentals)
Cover these basic chapters of ESI & FM like Measurement of Growth – Various Indicators like GDP, GNP, NNP, National Income, etc.
What is Monetary and Fiscal Policy?
Various tools are used by RBI (as part of Monetary policy) and the Government as part of Fiscal Policy.
Balance of Payments
Industrial & Labour Policy
Sustainable Development
Indian Political System (important articles)

RBI Grade B Strategy for ESI – PYQs

According to the CS Gender 3000 in 2019: the changing face of Companies report, what is the percentage increase in India’s female representation on boards over the past 5 years in the year 2019? – Reports/Policies/Indices.
Which of the following organization has submitted a master plan of $300 m for logistics infrastructure development in Kolkata? – Allocations – Industrial Policy
What is India’s Life Expectancy according to the National Health Profile 2019? – Reports/Policies/Indices – Health.
Which of the following organization releases the World Economic Outlook report? – Reports/Policies/Indices.
As per the UN’s Multi-Dimensional Poverty Index report, India has lifted how many people out of poverty between 2005/6 and 2015/16? – Reports/Policies/Indices.
SEQI was developed by which of the following organization? Reports/Policies/Indices – Education.
Share of exports of products related to India’s MSME during the year 2018-19 stood at? – Allocations – Industrial Policy.
According to SECC, how much percentage of rural households are landless and derive a major part of their income from manual casual labour? – SECC.
The Annual Meeting of the World Economic Forum marking its 50th anniversary will be held in which of the following places? – Summits/Conferences – Regional Economic Co-operation/International Financial Institutions.

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RBI Grade B Strategy for ESI – Key Takeaways from PYQs

Current Affairs linked to the chapters given in the syllabus is asked.
Few questions are very simple (like Phase 1 level) and some questions go one step deeper.

RBI Grade B Strategy for ESI – Important Chapters for Descriptive Paper

You might expect some descriptive questions from the following topics:

Poverty Alleviation
Employment Generation
Changes in Industrial Policy & Labour Policy
Monetary & Fiscal Policy
Priorities & recommendations of Economic Survey& Union Budget.
Indian Agriculture
Export & Import Policy
Human Development
Social Sectors in India
Health & Education

RBI Grade B ESI Preparation – Approach for Descriptive Paper

Check out the step wise guide for RBI Grade B ESI Preparation for the descriptive paper:

Step 1: Get a grip on all imp. concepts. List them down and make sure to understand each one.
Step 2: Expect questions related to Current Affairs, so track all the important events, reports, schemes, and policies and have key points ready for these. Coverage: Last 6-8 months.
Step 3: 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 4: 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 5: Practice at least 12-15 answers before you go for the examination.

RBI Grade B ESI Preparation 2024 – Conclusion

Do not let the length of the above-mentioned list of preparation resources intimidate you. You do not have to read them cover to cover, as that is going to take plenty of time. You need to be smart and selective in your preparation and be selective about reading. The Mock Tests are created by exam toppers and experts who have extensive knowledge about the exam, its pattern, and syllabus. Taking RBI Grade B Mock Tests will:

Familiarize yourself with the pattern, nature, and difficulty level of the exam
Help you figure out exactly what you need to focus on for the exam from your study material so you can be smart & selective and save time
Determine your speed & accuracy
Identify your strengths & weaknesses

Topper’s Corner	Topper’s Corner	Topper’s Corner
RBI Grade B 2023 Topper Gorakh Jayswal	RBI Grade B 2023 Topper Aviral Agrawal	RBI Grade B 2023 Topper Prachi Dhurandhar
RBI Grade B 2023 Topper Diksha Shinde	RBI Grade B 2022 Topper Strategy by Aneesh J	RBI Grade B 2022 Topper Strategy by Samyak Bhandari
RBI Grade B 2022 Topper Strategy by Saurabh Gupta	RBI Grade B 2022 Topper Strategy by Vinodh Kumar	RBI Grade B 2022 Topper Strategy by Nikhil Bharate

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