RBI Grade B 2024 Phase 2 Preparation Strategy for ESI & FM

The Phase 2 exam of RBI Grade B for the General post will be conducted on 19th October 2024. ESI and FM are one of the most important sections of the Phase 2 exam and they decide a candidate’s selection. Candidates who are waiting for the exam should speed up their ESI and FM preparation and revise smartly to perform well. In this blog, we’ll provide you with the important topics for the ESI and FM sections, along with the preparation strategy and review of the 2023 paper to help you prepare well.

Know RBI Grade B Phase 2 2024 Exam Pattern

RBI Grade B exam pattern, the Mains exam is divided into 3 subjects. Two of these subjects are objective & subjective. while one of them is completely subjective. Economics & Social Issues (ESI) and Finance & Management (FM) are the two objective & subjective papers in the RBI Grade B Phase 2 exam. Plus, there’s a descriptive paper in English in which you will be asked an Essay, Precis, and Reading Comprehension.

RBI Grade B Phase 2 Exam Pattern	Type of Test	Duration
Paper I – ESI	50% Objective, 50% Descriptive	30 mins (Objective) + 90 mins (Descriptive)
Paper II – English	Descriptive	90 mins
Paper III – FM	50% Objective, 50% Descriptive	30 mins (Objective) + 90 mins (Descriptive)

Key Highlights:

• Papers 1 & 3: Combination of objective (30 questions, 50 marks) and descriptive sections.
• Paper 2: Fully descriptive.
• For ESI & FM: 4 out of 6 descriptive questions to be answered.
• English: Maximum marks = 100.

Important Topics for Economic and Social Issues (ESI)

The Economic and Social Issues (ESI) paper in RBI Grade B 2024 Phase 2 is one of the most vast and comprehensive papers which includes the subjects related to growth and development, the Indian economy, and social structure. Anyway, separation and priority of the topics is necessary to prepare effectively. Here is a table that differs the ESI topics in terms of their significance to assist candidates in studying the most relevant areas.

Here are the most important, Moderately Important, and least important topics for the Economic and Social Issues (ESI) paper of RBI Grade B 2024 Phase 2:

Importance	Topics
Most Important	– Measurement of growth: National Income and per capita income – Poverty Alleviation and Employment Generation in India – Sustainable Development and Environmental issues – Monetary and Fiscal Policy since reforms of 1991 – Priorities and recommendations of Economic Survey and Union Budget – Role of Indian banks and Reserve Bank in the development process – Balance of Payments – IMF and World Bank – WTO – Urbanisation and Migration
Moderately Important	– Economic History of India – Changes in Industrial and Labour Policy – Indian Money and Financial Markets: Linkages with the economy – Public Finance – Political Economy – Industrial Developments in India – Indian Agriculture – Services sector in India – Export-Import Policy – Regional Economic Co-operation – Multiculturalism – Demographic Trends – Gender Issues
Least Important	– International Economic Issues

Important Topics for Finance and Management (FM)

The RBI Grade B Phase 2 FM paper covers subjects on financial system, management theories, as well as financial markets. Knowing the hierarchy of these themes will help you save a lot of time. The following table summarises the core, essential and least relevant topics on the FM exam. Check out the most important, Moderately Important, and least important topics for the Finance and Management (FM) paper of RBI Grade B 2024 Phase 2:

Importance	Topics
Most Important	– Financial System: Structure and Functions of Financial Institutions – Functions of the Reserve Bank of India – Banking System in India: Structure and Developments – Financial Institutions: SIDBI, EXIM Bank, NABARD, NHB, NaBFID – Risk Management in Banking Sector – Corporate Governance in Banking Sector – Financial Markets: Primary and Secondary Markets – Time Value of Money – Bond Valuation – Capital Budgeting
Moderately Important	– Financial Inclusion – Inflation: Definition, Trends, Estimates, Consequences, and Remedies – Public-Private Partnerships – Union Budget: Concepts, Terminologies, and Measures – Management: Its Nature and Scope – Theories of Leadership – Human Resource Development – Motivation and Theories of Motivation – Communication: Process, Barriers, and Effective Communication
Least Important	– Development in Financial Sector Technology – Recent Developments in the Financial Sector

RBI Grade B Paper Review 2023

Given below is the paper review of Phase 2 of the RBI Grade B 2023 exam. Candidates who are gearing up to appear in the exam can get an idea about the sources from which the questions in ESI came.

Objective Questions: Economic & Social Issues

Check out the topics and access the link to go through the sources that formed the questions:

1 – Marker	2 – Marker
Sovereign Gold Bond (Link)	GATT – WTO (link 1) (link 2)
Prime Minister’s Scholarship Scheme (Link)	Mission LiFE (link)
Jan Aushadhi Kendra (link)	World Economic Outlook (link)
Stand-Up India (link)	PVTGs Mission (link)
Shakti Sadan – Swadhar Greh (link)	National Database of Unorganised Workers (e-Shram) (link 1) (link 2)
Sukanya Samriddhi Yojana (link)
PM – KISAN (link)
Digi Yatra (link)
EMRS (link)
AB – PM – JAY (link)

Descriptive Questions: Economic & Social Issues

1. RBI’s Report on  Currency and Finance – Macroeconomic Effect of Climate Change and landmark collaborations to mitigate climate change.
2. World Development Report: Key Recommendations
3. UNDP’s new strategy for Gender Equality: How can we introduce it in India?
4. Schemes of the Govt for employment generation and poverty alleviation.
5. Direct and Indirect Monetary Policy Measures.
6. Challenges for start-ups in tier-2 and tier-3 cities.

Questions: Finance & Management

1 – Marker	2 – Marker
Big Five Models	Motivation (content theories) and Leadership (Kurt Lewin and Contingency Theory)
Conflict/Emotional Intelligence	Communication Barriers
Ethics (Virtue Ethics)	Financial Inclusion Schemes – PMJDY, Jan Suraksha Schemes
Value Principle	Corporate Governance – Various Committees
Return on Assets – Numerical
NABFID Act (purpose)
Liberalised Remittance Scheme (limit)
Alternative Source of Finance (examples)
Non-Tax Revenue (Example)
Bill of Exchange (Situation-Identification)

Descriptive Questions: Finance & Management

1. RBI’s Retail Direct Scheme
2. Big Five Personality Model
3. Henry Fayol: Contribution and 14 Principles.
4. Code of Conduct – Implementation
5. ONDC – Introduction and Implication
6. Pre-Sanctioned Credit Line on UPI: Role in Financial Inclusion

RBI Grade B Phase 2 2024 Agenda For The Remaining Days

Here are the areas you need to focus on in the remaining days to cover the Phase 2 syllabus:

1. Sampoorna Revision: April to October (16-17 October)
2. Reports and Indices: From our PDF (Uploaded in the Study Notes segment)
3. Newspaper: Each day from now on (important articles from the previous months will be shared in the paid batches)
4. Finance: In-depth coverage of the circulars and study notes
5. Management: Study Notes + Descriptive Questions list shared in the course.

Effective Strategy for Preparing ESI & FM in RBI Grade B Phase 2 (2024)

Here are some general tips that will guide you to prepare smartly and revise well:

1. Keep updating government schemes

To master government schemes, all you have to do is convert the PDF into a Word file. And keep updating this file. For this, you just have to keep checking the guidelines of the related ministries and update the file accordingly. This way, you will keep your information updated, while also ensuring you remember it well.

2. Focus more on dynamic topics

Stay updated with dynamic subjects. How? For this, you have to read newspapers like Live-Mint, The Indian Express, PIB releases, etc. This practice will help you do an overall preparation of the exam.

3. Study social issues in detail

All social issues like women’s rights, health education, tribal affairs, etc., you need to study them with a lot of understanding, attention, and detail. If you cover all these topics well, it will greatly improve your performance, and your score will also increase.

4. Achieve mastery over reports and indices

This is also a very important part of the exam. That’s why you should properly organize the reports and indices of UN agencies, government bodies, and multilateral organizations and categorize them in your notes. So that it becomes easier for you to memorize and retain them. If you plan all this and study in a structured manner, it will be very easy for you to remember everything during revision.

5. Divide your notes properly according to topics

You should create easy and effective handwritten notes for FM on management topics from different sources, like a quality book, a YouTube video, or even an authentic online platform. You need attention heed to the keywords related to theories and models while revising and taking notes.

Conclusion

If you prepare the above-mentioned topics well and follow the strategies, you will be able to prepare the ESI and FM sections effectively. Remember, along with preparation, keep testing yourself regularly. For this, mock tests will be very useful. Take a free mock test now and see how your preparation is going. Then, with the help of the feedback, you can adjust your preparation strategy according to your needs. Attempt as many mock tests as possible and build the confidence within yourself to clear the RBI Grade B Phase 2 exam. Work hard, believe in yourself, and success will be yours.

Related Blogs:
RBI Grade B Exam Pattern	RBI Grade B Syllabus
RBI Grade B Cut Off	RBI Grade B Vacancy
RBI Grade B Salary	RBI Grade B Selection Process
RBI Grade B Exam Centre	RBI Grade B Exam Date

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