RBI Grade B Phase 2 Preparation, Get Complete Strategy

Saloni Singhal

4 days ago

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RBI Grade B Phase 2 Preparation

RBI Grade B Phase 2 demands a totally different strategy from Phase 1. Although the success ratio is quite high in comparison to Phase 1, here you are competing with the best minds in the country. Since the Phase 2 exam is a mix of objective and descriptive papers, aspirants often get confused about how to prepare for both objective & descriptive papers simultaneously.

RBI Grade B Phase 2 Preparation – Subject Wise

The RBI Grade B Phase 2 exam consists of three papers. Paper 1 is for Economic & Social Issues (ESI), Paper 2 is for English (Writing Skills) and Paper 3 is for General & Finance Management. Here, Paper 1 & Paper 3 will be 50% objective and 50% descriptive whereas Paper 2 will be complete descriptive. Now, let’s move on to the complete RBI Grade B Phase 2 Preparation Strategy for each subject.

RBI Grade B Phase 2 Preparation Strategy – ESI

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 Phase 2 Preparation – How to Cover Static Part?

The preparation will depend 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.

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RBI Grade B Phase 2 Preparation – How to Cover Dynamic Part?

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.

Note: Please ensure that you pay enough attention to the minute details and facts as the questions asked are sometimes very factual in nature.

RBI Grade B Phase 2 Preparation Strategy – English

This paper can be the deciding factor in your selection. Since you will be in a position to answer all the questions in this paper (unlike ESI & FM), your target should be to maximize your marks in English. And the key to that will be practicing. Keep in mind the following three important points while attempting this paper:-

Ensure the correct usage of grammar, spelling, and punctuation.
Stick to the word limit (+/- 5 words).
Use simple English. Avoid using difficult and fancy words.

This paper comprises 3 questions:-

Essay – Since the word limit is less, you need not worry about the matter if you are a regular reader of any standard newspaper. If not, start reading the newspaper from today itself. Your focus should be editorial page and social issues and economics-related news. Just make short notes of important facts and figures as mentioning some of the relevant facts in your essay can fetch you more marks.
Precis Writing – Go through some sample precis writing and practice a few questions before the exam. Just google the rules of precis writing – writing 1/3rd of words, using your own words, giving a suitable title, not changing the tone of the passage, etc. But remember that the key to scoring good marks will be practice.
Comprehension – Some of the questions demand giving your own suggestions and here you have a chance to get an edge over others. Mostly, the nature of the suggestions asked would be of an ‘economic’ nature, so make sure your knowledge of current issues is updated

Important Points:

Please keep in mind that in the case of English paper you need to type on the keyboard and for those who type slowly, do not take the time limit for granted.
Even those who can type fast, remember that the keyboard will be of the old type that comes with a desktop and you might have to press the keys really hard (unlike laptop keyboards) which will again increase the number of errors you make and the number of times you need to press backspace.
Although all of you will complete the paper in time, again I would say that do not take the time limit for granted.

RBI Grade B Phase 2 Preparation Strategy – General Finance & Management

This is the most difficult paper because of its technical nature. Most of you will not have a background in finance and management, so this is the paper you need to work on the most. Here are some pointers on how to prepare for this section of the exam:

RBI Grade B Phase 2 Preparation Strategy – Finance

The syllabus of the finance portion is divided into three heads. The strategy must be to prepare topic-wise by studying the relevant documents.

Financial System – The best source to cover regulatory and financial institutions like SIDBI, EXIM, NABARD, etc. would be to visit their website and read the FAQs. It would cover the static part of the topic. For the dynamic part, which includes current affairs/news related to these Institutions, you will have to rely on the current affairs capsules. Alternatively, you can google search the news related to these institutions and go through them selectively.
Financial Markets – The basics of this topic are covered in Sriram’s Economy Notes. For a detailed study, again google and find a relevant and updated PDF.
General Topics – Many of these topics like Inflation, Banking Sector, Budget, etc. overlap with the Economics paper. For specific topics like Derivatives, Corporate Governance, PPP, and Portfolio investment, again you can rely on Oliveboard’s content.

Regarding Numericals in Finance paper: With no background in finance, this was the most difficult part for me to grasp. The numerals are mostly based on topics like Bond pricing, YTM, P&L Statement, Cash Flow Statement, and Accounting Ratios. But remember that once you have mastered the concepts, these will be the sure-shot marks you cannot afford to lose. So practice a lot of numerical before the exam. The resources you can refer to for numerals are:

Financial Management by Prasanna Chandra
Corporate Finance by Ross Westerfield Jaffe
Accounting Ratios from NCERT 12th Accounts Book
Investopedia for concepts

Note: A couple of questions asked in the finance part were from the circulars of the RBI. So you need to update yourself regularly about these from RBI’s website.

RBI Grade B Phase 2 Preparation Strategy – Finance

25-30 questions in the paper are asked from the Management Section. You will have to learn about a lot of thinkers and their theories on this topic. For Planning, Organisation, Directing, and Controlling, I referred to Principles of Management. For the rest of the topics, you can refer to IGNOU Management Notes and Oliveboard’s content.

Note: Many of my fellow aspirants referred to Organisational Behaviour by S P Robbins for Management and this is highly recommended to refer for many of you if you might not have the advantage of studying public administration or management as a part of your academics.

Wish you all the very best!

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Saloni Singhal

Hello there! I’m a dedicated Government Job aspirant turned passionate writer & content marketer. My blogs are a one-stop destination for accurate and comprehensive information on exams like Regulatory Bodies, Banking, SSC, State PSCs, and more. I’m on a mission to provide you with all the details you need, conveniently in one place. When I’m not writing and marketing, you’ll find me happily experimenting in the kitchen, cooking up delightful treats. Join me on this journey of knowledge and flavors!

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