My strategy for RBI Grade - B (Manager) Exam

 My strategy for RBI Grade - B (Manager) Exam – By Kiran

 Grade -B in RBI is highest entry level position in RBI.

Scheme of exam: 3 stage exam process

                               Prelims, Mains, Interview

Syllabus: GK, Quantitative Aptitude, Reasoning, English

Prelims: Like any other IBPS/SBI exam, with more weightage given to General Knowledge and reasoning

Strategy I followed for Prelims:

GK:   Affairs cloud monthly current affairs capsule supplemented with GK today (4months Current Affairs up to 2 weeks before should be enough), Current budget (mug up current budget summary  along with allocation data as far as possible), Economic survey, Socio economic survey, Finance commission (Need to remember some important numbers also), Govt schemes (Any material available on internet will do)

Quantitative Aptitude and reasoning: If weak in QA and reasoning one can join any online/class room coaching, if good at quants practice some mock tests.

English: I did not prepare separately for it, but if one is weak in English it is advised to go for coaching.

As I am comfortable with GK and English, I focused more on it and tried to maximize score in those sections, while making sure to clear at least cut off in Quant and reasoning. One must try to maximize score in the subject he/she is good at.

 

Mains: Consists of 3 papers

Paper	Paper Type
Paper I: Economics and Social Issues	Objective
Paper II: English (Writing Skills)	Descriptive (to be typed with the help of keyboard)
Paper III: Finance & Management	Objective Type

 

  Strategy I followed for Mains:

Paper I: whatever has been studied for GK part of prelims should be enough along with current affairs up to 2 weeks before the exam, it is advised to read NCERT books on Macroeconomics for basic understanding.

Paper 2: Paper consists of essay writing, reading comprehension, precise writing. I have not prepared separately for it. The only thing needed is correct usage of English rather than knowledge in the subject, however one must know at least something about the topic and write only relevant information.

Paper 3: This perhaps is the most difficult thing to prepare if one does not have Commerce/Finance/Management back ground.

Finance : There are many books for it but I personally feel they are beyond the scope of the exam, I have studied EDUTAP coaching material as it is completely alien topic for me ( for accounting ratios I have studied NCERT Accountancy books for better understanding , however one can stick to EDUTAP or OLIVEBOARD or any other coaching material ) . This paper consists of numerical problems, one must practice as many numerical problems as possible, and they are very scoring. The following books are recommended if one wants study from text books

1. Business Studies 12th & Accountancy 12th NCERTIndian Financial System-Bharati V Pathak

2. Financial Management- Prasanna Chandra

3. CAIIB and JAIIB books (for selected topics)

 

 

Management:  As I had pubic administration optional while preparing for civils services, it became easy for me to prepare for this topic. One can read EDUTAP or OLIVEBOARD material for this topic also. I have referred to the following books also as I am already familiar with the topic

 

      1. Principles of Management by I.M. Prasad

      2. Organizational Behavior by S.P. Robbins

 Interview: Be yourself and genuine, get yourself familiar with various departments and regional centers of RBI, which you will find in RBI website.

Be familiar with current affairs especially burning topics like COVID, If you are working/worked in Banking and finance sector be prepared to answer questions related to your job profile and may be sectoral questions also . If you are preparing for civil services or any other state service admit it, there is no harm in it.

Salary: except in Mumbai one gets a salary of 80000 in hand, plus RBI quarters. In Mumbai there is shortage of accommodation, you will be given Rs 65000 / month for rent. Those in Mumbai will also get additional salary equivalent to 50 liters of petrol (other centers 150 liters, Mumbai 200 liters). If you stay at your own accommodation you will get 15% of basic i.e around 5500 per month.

If one qualifies JAIIB and CAIIB exam after joining or has already passed before joining they get 4 increments i.e. around 5000 more is added to basic pay. You will also get increment if you are a Phd holder. One may also apply for increment at the time of interview if they think their previous job experience is useful for RBI, however in this case the interview board has the final say

Note: Salary will be revised in March this year, so expect 10K more at least

 Promotion: Hierarchy is as follows

                   Class 4- Assistant- Asst manger (gr-A) –Manager (Gr –B)- AGM ( Gr-C)-DGM-(Gr-D)-GM-(Gr-E)-CGM-Regional Director (Gr-F)- Executive director- Dy-Governor

 

There are 4 Dy governor posts in RBI out of which two are reserved for those who joined as Gr –B. one cannot become governor through promotion.

 Presently Manger to AGM takes 7 years minimum and 9 years maximum, after that you will be become eligible for next level in every 5 years. It depends on how your performance and reputation, one can remain as Manager or AGM throughout if he/she has bad remarks in career

 One can go on deputations to other organizations like IMF, WB, and BASEL and also to CBI, ED, ministry of finance but one needs to reach DGM level position for it.

 Other things to keep in mind: In general you get transfer in every 5 years, you must be ready for it, however all the RBI offices are located in metro cities or state capitals, and there will not be any rural postings. You will get home state once in your career or on case to case basis depending on the medical reasons or other genuine reasons but it is extremely difficult. If wife and husband are working in RBI they will be posted at same center. In Mumbai one has to spend at least 10 years, life in Mumbai can be very difficult due to travel and non-availability of quarters near the office. One won’t get good accommodation near the office for 65000 which means you have to rent at far-off places, i.e. lot of travelling in local train / personal vehicle/cabs, that can be a very big issue and that is the reason many won’t like to go to Mumbai.

 Manger in RBI is equivalent AGM in a commercial bank, however AGM in commercial banks are more powerful in their banks as they have constant customer interaction.

 There are various departments like issue, Banking supervision, Foreign exchange, Banking, Public debt, etc. Issue department is where all the physical currency is handled i.e. stocking and distributing currency to various banks and with-drawing damaged and old notes (the entire demonetization is handled by Issue department) most of the new recruits will be posted here this department . Banking supervision is where you inspect banks at their headquarters, of all departments it is a bit hectic one and relatively powerful as far as banks are concerned, you have to travel a lot if you are posted in banking supervision often to very remote areas (for inspecting cooperative banks) where you don’t know the languages. You will be eligible for transport allowance and good hotel accommodation during inspections.

 The higher the level the higher the facilities, once you reach DGM level your life will be extremely relaxing and comfortable with pretty decent facilities

 Finally, one is ready for transfers and wants peaceful life and lot of work life balance you can go for it.

https://opportunities.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=3944

https://rbidocs.rbi.org.in/rdocs/Content/PDFs/ADVTGBDRB092851E3E1C4D219C54676FA642772E.PDF

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My favourate quotes

“The philosophers have only interpreted the world, in various ways. The point, however, is to change it.

[These words are also inscribed upon his grave]”

― Karl Marx, Eleven Theses on Feuerbach

 

“In the long run men only hit what they aim at. Therefore, though they should fail immediately, they had better aim at something high.”

― Henry David Thoreau

 

People do not lack strength, they lack will.

-Victor Hugo

 

You can resist an invading army; you cannot resist an idea whose time has come.

-Victor Hugo