RBI Grade B 2023 Notification-Changes in the Syllabus: Get ready for some exciting news! The Reserve Bank of India (RBI) has announced the recruitment of Grade B officers for the year 2023, and guess what? The syllabus for the exam has been revamped and refreshed. That’s right! The syllabus for the exam is not the same as last year. It has some new topics and twists that you need to know. You can find the complete syllabus for Phase 1 and Phase 2 on the official website of RBI and here in this blog.
Today, we’ll reveal the RBI Grade B syllabus and the changes it has undergone this year along with the best sources to prepare for it.
As per the RBI Grade B exam pattern, the Phase I exam for the General post tests a candidate’s skills and knowledge through objective-type questions from 4 subjects: General Awareness, English Language, Quantitative Aptitude, and Reasoning. These questions carry a total of 200 marks. The test is conducted in online mode. You’ll have to face 3 papers in Phase II that will test your knowledge and skills. Each paper is worth 100 marks, so make sure you give your best shot. The papers are:
For DEPR Post: If you’re aiming for the DEPR post, you’ll have to clear Phase I first. This is a multiple-choice test on Economics that will assess your basic knowledge of the subject. It’s worth 100 marks and you’ll have to answer 50 questions. Once you clear Phase I, you’ll move on to Phase II, which has two papers:
Each paper in Phase II is worth 100 marks, so prepare well.
For DSIM Post: If you’re interested in the DSIM post, you’ll have to crack Phase I first. This is a multiple-choice test on Statistics that will measure your grasp of the subject. It’s worth 100 marks and you’ll have to answer 50 questions. Once you pass Phase I, you’ll advance to Phase II, which has two papers:
Each paper in Phase II is worth 100 marks, so study hard.
Before you attempt any of these posts, you’ll have to qualify for the prelims exam. This exam has four sections and each section has a specific time limit. The total duration of the exam is two hours. The sections are:
| Name of Subject | No. of Questions | Maximum Marks | Duration |
|---|---|---|---|
| General Awareness | 80 | 80 | 25 minutes |
| English Language | 30 | 30 | 25 minutes |
| Quantitative Aptitude | 30 | 30 | 25 minutes |
| Reasoning Ability | 60 | 60 | 45 minutes |
| Total | 200 | 200 | 120 minutes |
The mains exam has 3 separate tests-two objective and one descriptive. RBI Grade B mains exam pattern is given below:
| Name of Test | Paper Type | Maximum Marks | Time Allotted |
|---|---|---|---|
| Paper I – Economic and Social Issues | -50 percent Objective Test -50 percent Descriptive Test | 5050 | 30 mins90 mins |
| Paper-II – English (Writing Skills) | Descriptive Test | 100 | 90 mins |
| Paper III – Finance and Management | -50 percent Objective Test -50 percent Descriptive Test | 100 | 30 mins90 mins |
Selection of candidates for interview for the post of Gr B (General) is done based on aggregate marks obtained in Paper-I, Paper-II and Paper-III of Phase II exam. The total marks allotted to the interview are 75.
If you want to join the RBI as a Grade B officer, you need to ace different tests for different roles and stages. The first stage for the General Post will quiz you on your General Awareness, English Language, Quantitative Aptitude, and Reasoning skills. The second stage will test your knowledge of Economic and Social Issues, English, and Finance and Management. The syllabus is based on the Graduation and Post-Graduation levels of these subjects. Remember, the syllabus is not the same for both stages.
Check out the details below for each stage.
| RBI Grade B Phase 1 Syllabus for DR (General) | |||
|---|---|---|---|
| Reasoning | Quantitative Ability | English Language | General Awareness |
| Logical Reasoning | Simplification | Reading Comprehension | Current Affairs |
| Alphanumeric Series | Profit & Loss | Cloze Test | Indian Financial Systems |
| Ranking/Direction/Alphabet Test | Mixtures & Alligations | Para jumbles | Indian Banking Systems |
| Data Sufficiency | Simple Interest & Compound Interest & Surds & Indices | Miscellaneous | Monetary Plans |
| Coded Inequalities | Work & Time | Fill in the blanks | National Institutions |
| Seating Arrangement | Time & Distance | Multiple Meaning /Error Spotting | Banking Terms |
| Puzzle | Mensuration– Cylinder, Cone, Sphere | Paragraph Completion | |
| Tabulation | Data Interpretation | ||
| Syllogism | Ratio & Proportion, Percentage | ||
| Blood Relations | Number Systems | ||
| Input Output | Sequence & Series | ||
| Coding Decoding | Permutation, Combination &Probability |
| Subject | Syllabus |
|---|---|
| Paper 1- Economic & Social Issues | 1. Growth and Development– -Measurement of growth: National Income and per capita income -Poverty Alleviation and Employment Generation in India -Sustainable Development -Environmental issues 2. Indian Economy– -Economic History of India -Changes in Industrial and Labour Policy -Monetary and Fiscal Policy since reforms of 1991 -Priorities and recommendations of Economic Survey and Union Budget -Indian Money and Financial Markets: Linkages with the economy -Role of Indian banks and Reserve Bank in the development process -Public Finance -Political Economy -Industrial Developments in India -Indian Agriculture -Services sector in India 3. Globalization: -Opening up of the Indian Economy -Balance of Payments -Export-Import Policy -International Economic Institutions -IMF and World Bank -WTO -Regional Economic Cooperation -International Economic Issues 4. Social Structure in India: -Multiculturalism -Demographic Trends -Urbanisation and Migration -Gender Issues -Social Justice: Positive Discrimination in favour of the underprivileged -Social Movements -Indian Political System -Human Development -Social Sectors in India -Health and Education Also read: RBI Grade B Phase 2 2023-Economic and Social Issues [ESI] Preparation |
| Paper 2- English | To analyse the writing skills of the candidates including expression and understanding of the topic |
| Paper 3 (a) Finance | Finance 1. Financial System -Regulators of Banks and Financial Institutions -Reserve Bank of India- functions and conduct of monetary policy -Banking System in India – Structure and concerns, Financial Institutions – SIDBI, EXIM -Bank, NABARD, NHB, etc, Changing landscape of banking sector. -Impact of the Global Financial Crisis of 2007-08 and the Indian response 2. Financial Markets -Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), functions, instruments, recent developments. 3. General Topics -Risk Management in Banking Sector -Basics of Derivatives -Global financial markets and International Banking – broad trends and latest developments. -Financial Inclusion -Alternate source of finance, private and social cost-benefit, Public-Private Partnership -Corporate Governance in Banking Sector, role of e-governance in addressing issues of corruption and inefficiency in the government sector. -The Union Budget – Concepts, approach, and broad trends -Inflation: Definition, trends, estimates, consequences, and remedies (control): WPI, CPI – components and trends; striking a balance between inflation and growth through monetary and fiscal policies. -FinTech Take PIB only @ 99 Rs & Master RBI Circulars & Financial Current Affairs Also read: RBI Grade B Phase 2 2023 Exam-Finance and Management Preparation |
| Paper 3 (b)- Management (Refer to Mint Analysis (Vishleshan) & Mint StatiCA) | 1. Fundamentals of Management & Organizational Behaviour -Introduction to management -Evolution of management thought -Scientific, Administrative, Human Relations -Systems approach to management -Management functions and Managerial roles -Personality: meaning, factors affecting personality, Big five model of personality -Concept of reinforcement -Perception: concept, perceptual errors -Motivation: Concept, importance -Nudge theory -Meaning & concept of organizational behaviour -Content theories (Maslow’s need theory, Alderfers’ ERG theory, McCllelands’ theory of needs, Herzberg’s two-factor theory) -Process theories (Adams equity theory, Vrooms expectancy theory). -Leadership: Concept, Theories (Trait, Behavioural, Contingency, Charismatic, -Transactional and Transformational Leadership -Emotional Intelligence: Concept, Importance, Dimensions. -Analysis of Interpersonal Relationship: Transactional Analysis, Johari Window -Conflict: Concept, Sources, Types, Management of Conflict -Organizational Change: Concept, Kurt Lewin Theory of Change -Organizational Development (OD): Organisational Change, Strategies for Change, Theories of Planned Change (Lewin’s change model, Action research model, Positive model). 2. Ethics at the Workplace and Corporate Governance -Meaning of ethics, why ethical problems occur in the business -Theories of ethics: Utilitarianism: weighing social cost and benefits, rights and duties, -Justice and fairness, ethics of care, integrating utility, rights, justice and caring -An alternative to moral principles: virtue ethics, teleological theories, egoism theory, relativism theory -Moral issues in business: Ethics in Compliance, Finance, Human Resources, Marketing, etc -Ethical Principles in Business: introduction, Organization Structure and Ethics, Role of -Board of Directors, Best Practices in Ethics Programme, Code of Ethics, Code of Conduct, etc. -Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate Governance -Communication: Steps in the Communication Process; Communication Channels; Oral versus Written Communication; Verbal versus non-verbal Communication; upward, downward and lateral communication -Barriers to Communication -Role of Information Technology |
Given below are the major changes that this year’s RBI notification has revealed:
1. Social Structure in India – Multiculturalism – Demographic Trends – Urbanisation and Migration – Gender Issues – Social Justice
If we refer to the last year’s syllabus, sub-topics under “Social Justice” have been omitted this time. However, social justice, in general, is an umbrella term for ensuring welfare in the health, education, and societal parameters such as the upliftment of the marginalized sections. So, covering these topics under social justice (taken from last year’s syllabus) is advisable.
Social Justice: Positive Discrimination in favour of the underprivileged – Social Movements – Indian Political System – Human Development – Social Sectors in India, Health and Education.
1. Recent Developments in Global Financial System and its impact on Indian Financial System
Earlier, the scope of global financial markets in the RBI Grade B syllabus was limited to the financial crisis of 2008 and its aftermath. Now, the topic has become broader. We need to learn about the recent developments too.
2. Role of Information Technology in Banking and Finance
In the last year’s syllabus, “FinTech” was a separate sub-topic. This time, we are required to inculcate a deeper understanding of what IT potentially does to make us adapt to the ever-changing banking and financial sector.
3. Financial Risk Management
Earlier, we had “risk management in the banking sector” in the syllabus. This time we are required to learn about risk management in the whole financial sector.
4. Basics of Accounting and Financial Statements – Balance Sheet, Profit and Loss, Cash Flow Statements, Ratio Analysis (such as Debt to Equity, Debtor Days, Creditor Days, Inventory Turnover, Return on Assets, Return on Equity, etc.)
1. Social Structure in India – Multiculturalism – Demographic Trends – Urbanisation and Migration – Gender Issues – Social Justice
– These chapters will remain changed in our course
2. Recent Developments in Global Financial System and its impact on Indian Financial System
– Chapter 11 of Finance will be modified to accommodate the changes.
3. Role of Information Technology in Banking and Finance
– We will add a new chapter having all the important concepts/events in one place.
4. Financial Risk Management
Chapter 7 will be modified to accommodate these changes.
5. Basics of Accounting and Financial Statements – Balance Sheet, Profit and Loss, Cash Flow Statements, Ratio Analysis (such as Debt to Equity, Debtor Days, Creditor Days, Inventory Turnover, Return on Assets, Return on Equity, etc.)
Consequently, we will add these topics to our RBI Grade B Course in two parts; Basics of Accounting, & Financial Statements and Ratio Analysis
Here are the 4 Effective resources that you can get access to for free Preparation:
Now that you’ve become aware of all the changes in the latest syllabus of the upcoming RBI Grade B 2023 syllabus, and have got some of the best resources free of cost, you should start your preparation now. Take a Free RBI Grade B Phase 1 2023 Mock Test to gauge your skills and know how much you need to improve to clear the upcoming RBI Grade B 2023 exam on the very first attempt.
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