RBI Grade B 2020-21 exam is going to be held in three phases – Preliminary, Mains, followed by the Interview. The notification is released to fill a total of 322 vacancies under (DR) posts for General, DEPR & DSIM roles. The application window to apply for the RBI Grade B 2021 exam is closed now. and the Phase 1 exam of the same was also held recently (March 06, 2021). 

In today’s article, we are going to discuss in detail all the changes that have been introduced by RBI as well as the notification. Let’s see what major changes are there in the RBI Grade B notification 2021.

Click here to download the RBI Grade B Official Notification 2020-21 PDF

RBI Grade B 2021- What’s New??

As mentioned above, here is the snippet of the changes that have been introduced in the RBI Grade B Notification 2021. The changes are discussed in detail separately. 

RBI Grade B 2020-21 Eligibility Criteria

There is great news for the candidates applying for the DR-General posts. Now, in order to apply for the RBI Grade B exam, you don’t need to possess a minimum percentile of 60% in your 10^th and 12th grades as required earlier. However, to apply to the RBI Grade B 2020-21 exam you should still require a Bachelor degree in the respective field with a minimum 60% for general category and 50% for reserved categories. 

If you scored 55% and above in your post-graduation, you still stand a chance to apply to this coveted banking exam. This opens up a window of opportunity for many other aspirants. This criterion is passing marks for reserved category candidates. Detailed educational qualification as mentioned in the RBI Grade B 2021 notification is given below.

Please note that there is no change in the eligibility criteria for the candidates applying for the DEPR & DSIM posts. For your reference, we have provided a table of RBI Grade B Education Criteria below.

RBI Grade B 2020-21 Selection Process

The selection process to recruit RBI Grade B Officers is the same as earlier. However, the exam pattern for Phase 2 has changed. Let’s see what those changes are.

• Phase 1 or Prelims – Online Exam- No change.
• Phase 2 or Mains – Online Exam- Changed
• Phase 3 or Interview – Changed.

RBI Grade B Phase 1 Exam Pattern- No change

As mentioned above, there is no change in the Phase 1 exam pattern. RBI Grade B Phase 1 exam will be an online objective test consisting of four sections: English Language, Quantitative Aptitude, Reasoning and General Awareness.  It will be a single test comprising 200 marks. A total time of 120 minutes will be allotted to you. However, separate time will be allotted for each section in the exam. Further information is provided in the table below.

RBI Grade B Phase 2 Exam Pattern- Changed

RBI Grade B Phase 2 exam pattern has changed drastically. The RBI Grade B Phase 2 will consist of three papers (Paper I, Paper II and Paper III) as earlier but the Paper I and III of RBI Grade B Phase 2 will be (50% Objective + 50% Subjective) this time. It used to be an objective paper before. Paper II or English Descriptive remains unchanged as per the official notification. RBI Grade B Phase 2 exam pattern 2021 is provided in the table below.

RBI Grade B Phase 3 Exam Pattern- Changed

RBI Grade B Phase 3 or Interview weightage has also been increased in RBI Grade B 2021. The Interview is going to be of 75 marks this time. Earlier it was for 50 marks. 

RBI Grade B Syllabus 2021 

There are some additions in the Economic and Social Issues as well as Finance & Management syllabus in RBI Grade B 2020-21 exam. Along with previous RBI Grade B Syllabus, provided below is the additional Syllabus for RBI Grade B 2021 exam

Economic and Social Issues Syllabus 

1. Priorities and recommendations of Economic Survey and Union Budget

2. 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. International Economic Issues

Finance and Management Syllabus:

Finance:

Impact of the Global Financial Crisis of 2007-08 and the Indian response

Global financial markets and International Banking – Broad trends and latest developments. FinTech

Management: 

Fundamentals of Management & Organizational Behaviour: Introduction to management;Evolution of management thought: Scientific, Administrative, Human Relations and Systems Approach to management; Management functions and Managerial roles; Nudge theoryMeaning & concept of organizational behaviour; Personality: meaning, factors affecting personality, Big five model of personality; concept of reinforcement; Perception: concept,perceptual errors. Motivation: Concept, importance, Content theories (Maslow’s need theory,Alderfers’ ERG theory, McCllelands’ theory of needs, Herzberg’s two factor theory) & Process Theories (Adams equity theory, Vroom’s expectancy theory).

Leadership:

Concept, Theories (Trait, Behavioral, 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): Organizational Change, Strategies for Change, Theories of Planned Change (Lewin’s change model, Action research model, Positive model).

Meaning of ethics, why ethical problems occur in 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, HumanResources, Marketing, etc. Ethical Principles in Business: introduction, Organization Structure and Ethics. 

RBI Grade B Exam Dates 2021

The complete details of the RBI Grade B exam 2021 is provided in the table below 

RBI Grade B Salary 2021

RBI Grade B is a dream of many. RBI not only gives you a chance to participate and have a say in shaping the country’s economy but also offers its employees a decent salary package. Further with the length of service you have chances to reach up to RBI Deputy Governor Level. As an RBI Grade B officer you will receive a salary within the pay scale of Rs 35150-1750(9)-50900-EB-1750 (2) – 54400-2000(4)-62400 (16 years). Apart from this you will also be eligible for an increment of Rs 1750 which will continue up to 9 years of your service. After 9 years, you will be eligible under the ‘executive band’.

RBI Grade B 2021 Online Course

RBI Grade B is a dream of every aspirant looking to make a career in the banking sector therefore, it’s very important that you study the best in class material. To assist you with this exam and the changed syllabus, ixamBee provides RBI Grade B Online Course. 

This course consists of all the required content which will make your preparation easier and better. Salient features of the RBI Grade B 2020-21 Exam is provided below:

1. Video Lessons: Short & crisp videos for concepts, covering all important topics for all the subjects of Phase 1 and Phase 2. 
2. Study Notes: Detailed notes as PDFs for the ease of learning and building fundamentals.
3. Practice Questions: Get access to 17000+ questions for learning reinforcement at various stages of learning:
4. Concept Checking Questions: To check your learning after each concept in videos
5. Mock Tests: Get 20 Full-length Mock tests for Phase 1 and 15 full-length Mock Tests (15 Tests for FM and 15 MTs for ESI) for the Phase 2 exam  Please note that out of 15 tests each for ESI and FM, only 5 FM tests and 5 ESI tests will be evaluated. Rest 10 tests each for ESI and FM would be for practice and no evaluation will be provided for the same. 
6. Descriptive English: This can be a real game-changer. Get access to video lessons and study notes on writing skills, sample essays, suggested topics, and 5 Descriptive English Mock Tests with individual Performance Feedback
7. Online Live Classes: Study at your own pace and time and get your doubts clarified by the experts through these live sessions. These experts have cleared RBI Grade B, Bank PO, SIDBI, and other competitive exams
8. Interview Guidance: Our experts will provide interview guidance in the form of Mock Interviews and personal feedback on your performance

ixamBee believes in providing education to the last student of our country. Therefore, it provides over 1000 Free Mock tests of various government exams. You can attempt RBI Grade B mock tests absolutely free of cost. 

All the best for RBI Grade B 2021 Exam!!

Also Read:

RBI Grade B 2020-21: RBI Grade B Notification, Exam Pattern, Vacancy And Other Details

Perks of being an RBI Grade B Officer

Beat the Heat of RBI Grade B 2021 with this 65 Days Plan

Get Free Online Test Series, GK updates in form of Beepedia,  as well as latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD and Other Government Jobs.

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Knowing the budget is important for every aspirant who is preparing for the competitive exam. It has been seen over the time that most of the questions are framed from the budget presented in the parliament. In RBI Grade B 2021 exam the descriptive papers are introduced in Phase 2 for ESI & FM sections. These sections might have questions related to the budget 2021. To answer the same you must be aware of the key highlights. 

Budget and Constitutional Provisions

The genesis of the central Budget in India goes back to 1860 when it was first introduced by the then finance minister James Wilson, two years after the transfer of Indian administration from the East India Company to the British Crown. Interestingly, the Constitution of India does not specifically use the word Budget. According to Article 112 of the Indian Constitution; it is an extensive financial statement that presents the Government’s estimation of revenue sources and estimated expenses for the year. 

It is classified into two parts –

Revenue budget: It contains the government’s revenue receipts and expenditure

Capital Budget: It comprises the government’s capital receipts and payments.

Overall, the Budget contains:

• Estimates of revenue and capital receipts,
• Ways and means to raise the revenue,
• Estimates of expenditure,
• Details of the actual receipts and expenditure of the closing financial year and the reasons for any deficit or surplus in that year, and
• The economic and financial policy of the coming year, i.e., taxation proposals, prospects of revenue, spending programme and introduction of new schemes/projects.

In Parliament, the Budget goes through six stages:

• Presentation of Budget
• General discussion
• Scrutiny by Departmental Committees
• Voting on Demands for Grants
• Passing an Appropriation Bill
• Passing of Finance Bill

The Budget Division of the Department of Economic Affairs in the Ministry of Finance is the nodal body responsible for preparing the Budget. The first Budget of Independent India was presented in 1947.

Highlights of Budget 2021-2022

The Union Budget 2021-22 was presented by the Hon’ble Finance Minister Nirmala Sitharaman on 1st February 2021 in the Parliament. The Budget speech was given by the FM from 11AM to 1PM.

Presenting the first ever digital Union Budget, Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman stated that India’s fight against COVID-19 continues into 2021 and that this moment in history, when the political, economic, and strategic relations in the post-COVID world are changing, is the dawn of a new era – one in which India is well-poised to truly be the land of promise and hope.

This year’s Budget lays focus on the six pillars for reviving the economy – Health and Wellbeing, Physical and Financial Capital and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D, and Minimum Government Maximum Governance. Several regulations around the securities market are proposed to be merged as a single code. Several direct taxes and indirect taxes amendments were also proposed.

Major Takeaways of Budget 2021

• An Expenditure Budget: Finance Minister Nirmala Sitharaman has found space for imparting a fiscal impulse in 2021-22. Compared with a capex of Rs 4.12 lakh crore in Revised Estimate (RE) of 2020-21, she has hiked it 34.46 per cent to Rs 5.54 lakh crore in 2021-22.
• A Reform Signal: Two public-sector banks and one state-owned general insurance company to be lined up for disinvestment. FDI in insurance to be hiked to 74% from 49% now.
• No Populism, But Focus on Growth: Despite being a tough year for the aam admi, the FM has avoided giving any income tax relief. No increase in standard deduction, no raise in the tax slabs.
• Health Gets Its Due: In a year when the world was ravaged by the Covid-19 pandemic, FM gives health the attention it merited. Health allocation jumped 137% to Rs 2,23,846 crore in 2021-22 compared with Rs 94,452 crore in 2020-21. She provided Rs 35,000 crore for the Covid-19 vaccine, and promised to provide further funds, if required.
• Bad Bank: After dithering for almost six years, the government has finally decided to set up an asset reconstruction company that will take over the bad loans of banks, giving them flexibility to finance the economic recovery.
• Development Finance Institutions (DFI) Reborn: The idea was dead with most earlier DFIs including IDBI and ICICI turning into banks. To provide debt to long gestation projects, a new DFI with a capital of Rs 20,000 crore will come into being. It will have statutory backing, but will be professionally managed. Lending portfolio of Rs 5 lakh crore within three years.
• Asset Monetisation: This is an ongoing exercise, where the government hasn’t done much to inspire confidence. National Monetisation Pipeline of potential assets of NHAI, PGCIL, Railways, airports, warehouses, sports stadiums.
• Strategic Disinvestment: NITI Aayog asked to short list non-core PSUs for strategic sale. After a poor show in 2020-21, the government has estimated disinvestment receipts at Rs 1,75,000 crore.
• Eye on Elections: Four poll-bound states get major highway projects: Tamil Nadu (3,500 km – Rs 1.03 lakh crore), Kerala (1,100 km – Rs 65,000 crore), West Bengal (675 km – Rs 25,000 crore) and Assam (1,300 km – Rs 34,000 crore).
• Growth Vs Prudence: Fiscal deficit estimated at 6.8 percent of GDP in 2021-22; it is estimated to touch 9.5% in 2020-21. India’s fiscal deficit is estimated at 6.8 percent of the gross domestic product (GDP) in 2021-22 as the government looks to increase spending to revive growth in the pandemic-battered economy. With the pandemic leading to a sharp contraction in tax revenues, India’s fiscal deficit for 2020-21 zoomed to 9.5 percent of GDP, as against the 3.5 per cent budgeted.

These were some major takeaways from the budget presented in the parliament. To know more in detail and the role it will play in your RBI Grade B exam 2021, the important questions from the budget, click on the link below: 

RBI Grade B 2021 : Budget 2021-2022 Highlights and important questions

The important questions are also covered in our mock tests which are free of cost.  ixamBee has launched RBI Grade B Exclusive Comprehensive Online Course to make your RBI Grade B exam preparation a well rounded experience. RBI Grade B Exclusive Online Course is curated as per the NEW exam pattern announced by RBI in its 2021 notification for Grade B officers. Our experts have covered thoroughly descriptive papers for ESI and FM in the course content. 

Also read:

RBI’s Monetary Policy: February 2021

RBI: Financial Stability Report 2021

RBI Grade B 2021: How to Approach ESI Descriptive Paper?

Get Free Online Test Series, GK updates in form of Beepedia,  as well as latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD and Other Government Jobs.

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The first Economic Survey of India

The first Economic Survey in India was presented in the year 1950-51. Up to 1964, it was presented along with the Union Budget. From 1964 onwards, it has been delinked from the Budget.

When and who presents the Economic Survey?

The Economic Survey is presented every year in the Parliament during the Budget Session. The Economic Survey is presented normally a day before the presentation of the Union Budget in the Parliament by the Finance Minister.

Who authors the Economic Survey?

The Economic Survey is prepared by the Economics Division of the Department of Economic Affairs in the Finance Ministry under the overall guidance of the chief economic adviser and is released after it is approved by the finance minister.

Why is the Economic Survey presented before the Budget?

Since the Economic Survey analyses the overall performance of the economy during the year, so therefore it helps in providing a better understanding of the Union Budget. It essentially helps to understand the priority of the country for the next financial year and what sectors would need more focus in the Union Budget. The survey was de-linked from the Budget in 1964 and circulated in advance so that a context of the Budget can be provided.

Economic Survey 2020-21: Highlights 

The Ministry of Finance presented the Economic Survey 2020-2021 that details the state of the economy ahead of the government’s budget for the fiscal year 2021-22. The Economic Survey 2020-2021, authored by a team led by chief economic adviser (CEA) Krishnamurthy V Subramanian, focused on the state of different sectors of the economy, the effect of the coronavirus pandemic as well as reforms that need to be taken.

Major Highlights

1. The Economic Survey has batted for a continued expansionary fiscal stance by the government to ensure that growth returns to pre-Covid levels. A recovery in growth will boost revenue collections and help India get back on a sustainable fiscal path, it said.
2. A rebound in economic activity and the government’s reforms can help the Indian economy go past its pre-Covid level in two years, the survey said. Further upside is also possible if economic activities normalise sooner due to the vaccine rollout.
3. The survey tried to cast away doubts about India’s debt levels saying that as long as GDP keeps growing, the country won’t have to worry about debt. The survey argues that over the last two-and-a-half decades, higher GDP growth causes the ratio of debt-to-GDP to decline in the case of India. The reverse, however, is not true, it said.
4. There is a need for a fresh asset quality review of Indian banks as soon as the Covid-19 relief measures are lifted, the survey suggested. The chief economic adviser called for a clean-up of bank books to ensure mistakes of the past aren’t repeated.
5. The survey has suggested that a greater focus on core inflation is warranted to drive policy-making. It said that the sole focus on CPI inflation to set monetary policy may not be appropriate for four reasons i.e.,

• Food inflation, which contributes significantly to CPI, is driven primarily by supply-side factors.
• Given its role as the headline target for monetary policy, changes in CPI anchor inflation expectations. This occurs despite inflation in CPI being driven by supply side factors that drive food inflation.
• Several components of food inflation are transitory with wide variations within the food and beverages group.
• While food habits have undergone revisions over the decade since 2011-12, which is the CPI base year, the same is not reflected in the index yet. The base year of CPI therefore needs to be revised to overcome the measurement error that may be arising from the change in food habits.

6. The Economic Survey has said that the new farm laws, which are being widely opposed by farmer groups, will be beneficial for small and marginal farmers and herald Indian agriculture in a new free-market era.
7. More than lack of compliance or regulatory standards, India’s administrative process is suffering from overregulation, the survey noted. The root case of this is the government’s approach that attempts to account for every possible outcome, it said.

To know the complete analysis of the report and the important questions for RBI Grade B 2021 exam, click here.

Economic Survey 2021 – Highlights and important Questions

ixamBee has launched RBI Grade B Exclusive Comprehensive Online Course to make your RBI Grade B exam preparation a well rounded experience.RBI Grade B Exclusive Online Course is curated as per the NEW exam pattern announced by RBI in its 2021 notification for Grade B officers. Our experts have covered thoroughly descriptive papers for ESI and FM in the course content. 

Also read:

RBI’s Monetary Policy: February 2021

RBI: Financial Stability Report 2021

RBI Grade B 2021: How to Approach ESI Descriptive Paper?

Get Free Online Test Series, GK updates in form of Beepedia,  as well as latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD and Other Government Jobs.

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On 11 January 2021, the Reserve Bank of India (RBI) released the 22nd issue of the Financial Stability Report (FSR). The report is published bi-annually and reflects an assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on the risks to financial stability. 

Highlights of the Financial Stability Report (FSR) 2021

1. Policy actions were aimed at restoring normal functioning and mitigating stress in the initial phase of the COVID-19 pandemic; now the focus is on supporting recovery and preserving the solvency of businesses and households.
2. Positive vaccine development news has underpinned optimism about the outlook, although it is marred by the second virus wave, including more virulent strains.
3. The smooth functioning of domestic markets and financial institutions has been ensured by policy measures by regulators and the government; managing market volatility amid rising spillovers has become challenging, particularly when movements in certain segments of the financial markets are not in line with developments in the real sector.
4. Bank credit growth has remained subdued, with moderation across bank groups being broad-based.
5. Banks’ performance parameters have improved significantly, helped by extended regulatory dispensations in response to the COVID-19 pandemic.
6. The capital ratio of Scheduled Commercial Banks (SCBs) to risk-weighted assets (CRAR) improved from 14.7 percent in March 2020 to 15.8 percent in September 2020, while their gross non-performing asset (GNPA) ratio decreased from 8.4 percent to 7.5 percent, and the provision coverage ratio (PCR) improved from 66.2 percent to 72.4 percent over this period.
7. Macro stress tests incorporating the first advance estimate of the gross domestic product (GDP) for 2020-21 released on 7 January 2021 indicate that under the baseline scenario, the GNPA ratio of all SCBs may rise from 7.5% in September 2020 to 13.5% by September 2021; under a severe stress scenario, the ratio may rise to 14.8%. This highlights the need for adequate capital to be proactively built to withstand possible deterioration in the quality of assets.
8. Analysis of the network shows that total bilateral exposures among financial system entities increased marginally during the quarter ended September 2020. As the inter-bank market continues to shrink and banks are better capitalized, the risk of contagion to the banking system has decreased compared to March 2020 under different scenarios.

Complete FSR 2021 Analysis

To know the complete FSR, the Macro-Financial Risks, Domestic Economy and Markets, Financial Institutions, Regulatory Initiatives and Other Developments in the Financial Sector, Assessment of Systemic Risk and other important questions for objective and descriptive FM based on it click on the link below.

 RBI Grade B 2021 : Objective and Descriptive FM | Financial Stability Report | Jan 2021

ixamBee can help you to process these details with ease with BeePedia (available for free on a weekly as well as monthly basis). BeePedia is a comprehensive document to address the General Awareness (GA) content requirement.

BeePedia covers Current Affairs, Banking Awareness, Economic news updates and Financial news updates, weekly Current Affairs, Banking Awareness, the updates from various government ministries and Press Information Bureau (PIB). It also covers the relevant static information related to the current affairs/news to provide you the convenience of all related information at one place.

Also Read:

RBI Grade B 2021: How to Approach ESI Descriptive Paper?

Achieve the Perfect Score – 30 out of 30 in Quant!

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I hope you are way past the Fear Zone and at least in the Learning Zone, if not the Growth Zone. There are 2 points in the Growth Zone that you should strive towards:

1. Find a Purpose
2. Live in the present and focus on the future

You pretty well know your purpose – “To be an RBI Grade B Officer”. Now is the time to act on the second point “live in present and focus on future”

What this essentially can mean is that:

• You come to terms with the present circumstances and use the best available resources to continue your preparation, without procrastinating and without sulking over how you could have prepared better if lock-down was not there
• You continue to prepare for the future RBI Grade B exam, without contemplating about if and when the notification will be out

The second point above is very important. Let me explain:

• More time means better-prepared competition – In this lock-down, your competition is also getting the extra time to prepare as you. Many smart ones will be using this time judiciously to fill the gaps in their preparation, brush up their subjects of strength and strengthening the weaker subjects.
• Work-from-home gives more time to the working professionals now – If you are a working professional, this lock-down has given you more time to prepare by cutting out the daily time and exertion associated with travel. Use this extra time to prepare. Once the lock-down is over and life is back to normal office hours and travel, you may not find this opportunity again. If you are not a working professional, remember your competition from working professionals is also increasing now
• Notification may give you less time for preparation – The current lock down has led to the postponement of various competitive exams. While some have announced the revised dates, many organisations have not given a revised date of the exam. Once the uncertainty is over, the organisations will not waste any more time and are likely to give less time between the date of notification and the exam date. With a flurry of exams pending to be held, RBI may also be quick to take up dates for conducting its exam. Better to be prepared for such a scenario now and not regret later.
• Increased availability of content online – While off-line coachings, group studies with friends, new books from the market may not be available, Online education companies have opened their doors (read websites!!) to everyone. A lot of classes are being held for free. ixamBee is conducting free live sessions on youtube at 11 am everyday which are followed by a daily test based on the class. Subscribe to our YouTube Channel here and attend the Live classes daily to enhance your preparation.

I hope after reading this blog, you are in the Growth Zone now, if not earlier and use this time as an opportunity. To sum up, let me draw your attention to one of the most important concepts in finance – Time value of money. it means “A RUPEE TODAY IS WORTH MORE THAN A RUPEE TOMORROW”. Similarly, your preparation done today will be worth more than what you will do tomorrow.

About the Author Prachi Agarwal:

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