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Reserve Bank of India

Reserve Bank of India Recruitment of Officers in Grade 'B' (General) - Direct Recruitment (DR)

Reserve Bank of India, the banker to the government, the lender of the last resort, the banker to the banks, is the Central Bank of India, which recruits officers in Grade 'B' every year. The selection process is conducted in three phases -
1. Phase -I (Preliminary)
2. Phase -II (Main)
3. Phase -III (Interview)

RBI ELIGIBILITY CRITERIA:
a) Age : Between 21 and 30 years. For candidates possessing M.Phil. and Ph.D. qualification, upper age limit will be 32 and 34 years respectively. For candidates having experience as an officer in Commercial Bank/ Financial Institution in Public Sector as also prior experience in Reserve Bank of India, upper age limit is relaxed to the extent of number of years of such experience, subject to a maximum of three years. For such candidates, upper age limit should not exceed 33 years including experience. For experience, probationary period will not be reckoned.

b) Educational Qualifications: A minimum of 60% marks (50% in case of SC/ST/PWD) or an equivalent grade in Bachelor's degree as well as in 12th and10th standard examinations. The minimum qualifying percentage or an equivalent grade for the Bachelor's Degree will be in aggregate for all semesters/years.

c) Number of attempts: Candidates belonging to unreserved i.e. General Category, who had already appeared Six times for Phase-I Examination for this post in the past, are not eligible to apply. No such restriction applies to candidates belonging to SC/ST/OBC/PWD, if the posts are reserved for them.



RBI Selection Process

Tier - I: Objective Written Examination
This is a two-hour examination, having 200 questions. For each correct answer, a student scores +1 mark and for each incorrect response, a penalty of -0.25 is given. There is no penalty for not attempting questions. The score obtained in Tier - I examination is not considered in the final score, so it is merely a qualifying examination.
Generally, the examination is conducted in different time slots over a window of 2-4 days. The 'corrected-scores' obtained by each of the candidates in different sessions (if held) will be normalized using equipercentile method.
A candidate has to secure minimum marks separately in each subject as well as aggregate.
The question paper pattern is -

Phase - I Exam Pattern

Exam Duration 120 minutes

Subjects

Questions

Marks

Reasoning

60

60

Quantitative Aptitude

30

30

English Language

30

30

General Awareness

80

80

Total Questions

200

200

 

The minimum aggregate cut-off marks for being shortlisted for Phase-II of the examination is decided by the Board in relation to the number of vacancies.

This phase comprises three different question papers, viz. Economic and Social issues, English (Writing Skills) and an optional among Finance and Management or Economics or Statistics.
All the three papers are conducted on the same day in different shifts. The question paper description is as follows -

Phase - II Exam Pattern

 

Name of Paper

Type of Paper

Exam Duration

Marks

Paper - I : Economic and Social Issues

Objective Online

90 minutes

100

Paper - II : English (Writing Skills)

Descriptive Online, to be typed with the help of keyboard on the computer screen

90 minutes

100

Paper - III : (Optional) Finance and Management or Economics or Statistics

Objective Online

90 minutes

100

Note: Paper I and Paper III will be set bilingually in English and Hindi.

A candidate has to secure minimum marks separately in each paper as well as aggregate.

This phase comprises of an interview with a panel of 4-5 Bureaucrats / Psychologists. The theme of the interview is HR and general perception of a candidate towards the nation, the government and the knowledge of the Indian and International Banking system. The interview is of 50 Marks.

Candidates are shortlisted for the interview, based on aggregate of marks obtained in Phase-II (Paper-I +Paper-II +Paper-III). The minimum aggregate cut off marks for being shortlisted for Interview will be decided by the Board in relation to the number of vacancies. A candidate may opt for interview either in Hindi or English. Final Selection will be through merit list which will be prepared by adding marks secured by candidates in Phase-II examination and interview.

This phase comprises two different question papers, viz. Quantitative Aptitude of 2 hours having 100 questions and English Language of two hours with 200 questions.
Both the papers are conducted on the same day. The Quantitative Aptitude paper is conducted in morning slot from 10:00 AM to 12:00 Noon and the English Language Paper is conducted in the afternoon slot from 2:00 PM to 4:00 PM.

The cut -off for Tier -II includes the marks of the Tier -I as well, which means the final cut off is out of 600 Marks (200 - Tier -I and 400 - Tier- II).
There are two cut off lists which are announced, viz. For Interview posts only and For Non-Interview posts.

The cut off details for the last 4 years is given below -

Cut off marks (Tier I + Tier II) for interview posts (Other than Statistical Investigator / Compiler and all non interview posts)

2011

2012

2013

2014

SC

281.25

284

359.25

365.5

ST

295.75

282

345.75

349.75

OBC

323.75

319

395.75

398.75

Ex.S

293

308

345

361

OH

246

274

345

340

HH

200

191

228

231

VH

246

261

315.25

359

UR

354.75

349

424.5

426

Cut off marks (Tier I + Tier II) for all non interview posts only

2011

2012

2013

2014

SC

247.25

251

334

331.5

ST

251.75

242

314

308.5

OBC

283.75

281.5

368.5

365

Ex.S

180

211

226

288

OH

208

227

305.75

307

HH

150

123

201.5

182

VH

150

225

300.25

307

UR

315.25

313

401

397.25

This phase comprises of an interview with a panel of 4-5 Bureaucrats / Psychologists. The theme of the interview is HR and general perception of a candidate towards the nation and the government. The interview is of 100 Marks and after the interview, the final cut off list is out of 700 Marks.

RBI Syllabus (Phase-II)

Growth and Development - Measurement of growth: National Income and per capita income - Poverty Alleviation and Employment Generation in India - Sustainable Development and Environmental issues. Economic Reforms in India - Industrial and Labour Policy - Monetary and Fiscal Policy - Privatization - Role of Economic Planning. Globalization - Opening up of the Indian Economy - Balance of Payments, Export - Import Policy - International Economic Institutions - IMF and World Bank - WTO - Regional Economic Co-operation. Social Structure in India - Multiculturalism - Demographic Trends - Urbanization and Migration - Gender Issues - Social Justice : Positive Discrimination in favor of the under privileged - Social Movements - Indian Political System - Human Development - Social Sectors in India, Health and Education.

The paper on English shall be framed in a manner to assess the writing skills including expression and understanding of the topic.

(A) Finance and Management:
(I) Finance
(a) Financial System
1. Regulators of Banks and Financial Institutions
2. Reserve Bank of India- functions and conduct of monetary policy, Banking System in India, Financial Institutions - SIDBI, EXIM, NABARD, NHB, etc.
(b) Financial Markets
Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), functions, instruments, recent developments.
(c) General Topics
1. Risk Management in Banking Sector
2. Basics of Derivatives: Forward, Futures and Swap
3. Changing Landscape of Banking sector
4. Recent Developments in the Financial Sector, Portfolio Investment, Public Sector Reforms, Disinvestments
5. Financial Inclusion- use of technology
6. Alternate source of finance, private and social cost-benefit, Public-Private Partnership
7. Corporate Governance in Banking Sector, role of e-governance in addressing the issues of corruption and inefficiency in the government sector.
8. The Union Budget - Direct and Indirect taxes; Non-tax sources of Revenue, GST, Thirteenth Finance Commission and GST, Finance Commission, Fiscal Policy, Fiscal Responsibility and Budget Management Act (FRBM),
9. Inflation: Definition, trends, estimates, consequences, and remedies (control): WPI, CPI - components and trends.

(II) Management:
Management: its nature and scope; The Management Processes; Planning, Organization, Staffing, Directing and controlling; The Role of a Manager in an Organization. Leadership: The Tasks of a Leader; Leadership Styles; Leadership
Theories; A successful Leader versus an effective Leader. Human Resource Development: Concept of HRD; Goals of HRD; Performance Appraisal - Potential appraisal and development - Feedback and Performance Counseling - Career Planning - Training and Development - Rewards - Employee Welfare. Motivation, Morale and Incentives: Theories of Motivation; How Managers Motivate; Concept of Morale; Factors determining morale; Role of Incentives in Building up Morale. 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. Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate Governance.

(B) Economics
(a) Microeconomics
1. Consumers behavior and firms; value of resources like land, labour and capital
2. Markets-monopoly, perfect and imperfect competition
3. General Equilibrium of price and activity, economic welfare and case for regulatory/policy interventions
(b) Macroeconomics
1. Measuring national income and its components; basic macro identities and idea of macro-balance; Goods and Financial Market Equilibrium (IS-LM Framework)
2. Major macro-economic school of thoughts; Classical, Keynesian and Monetarist
3. Consumption and Investment demand; demand management policies and their effectiveness
4. Money demand and supply; monetary and fiscal policies
(c) International Economics
1. Benefit of International trade; comparative and absolute advantage; effect of International trade on resources allocation and factor price equalization; nonconventional trade barriers, optimum currency areas and effect of customs union
2. International finance and exchange rates issues in an open economy, benefits and costs of an inter-connected financial markets; evolution of international financial architecture

(d) Public Economics
1. Public Goods, instruments of financing, government tax and non-tax revenue
2. Direct and Indirect taxes, efficiency costs of commodity taxes, income taxation, labor supply and savings, corporate taxation and corporate behavior
3. Government expenditure policy-various components, deficit financing and its impact on the economy, government debt and crowding out of private capital
(e) India's Economy and Development Issues
1. India's experimentations with planned development models and the outcomes, structural issues-savings and investment, demography, urbanization, productivity, etc., issues with poverty, inequality and employment
2. Agriculture- policy and developments, manufacturing competitiveness; what is holding India back, role of public sector enterprises in the key economic sectors, India's resilient service sector; trade, tourism, communication, ITES, etc.
3. Financial sector regulation and reforms-banking, insurance and capital market, fiscal policy and the changing priorities of government, emergence of monetary policy and its new role

(C) Statistics:
(1) Probability: Random variables, Theorems of probability, Conditional probability, Independent events, Bayes' theorem and its application, expectation, moments, distribution functions, Binomial, Poisson, Geometric, Exponential, Negative binomial, Hyper geometric, Cauchy, Laplace, Logistic, Pareto, Log-normal, Beta and Gamma distributions, Weibull, Uniform, Bivariate normal distribution and truncated distributions, Markov's inequality, Chebyshev's inequality, Cauchy-Schwarz inequality, Laws of large numbers, Central limit theorems and applications.
(2) Statistical Methods: Population and sample, Measures of central tendencies Parameter and Statistic, Correlation and Regression, intra-class correlation, multiple and partial correlations, Spearman's coefficient of rank correlation, Z, chi-square, t and F statistics and their properties and applications, Large sample distributions, Variance stabilizing transformations, sin inverse, square root, logarithmic and z transformation.
(3) Linear Models: General Linear models, BLUE, method of least squares, Gauss-Markoff theorem, estimation of error variance, Simple and Multiple linear regression models, Important assumptions and treatments in case of assumption's violation, Regression diagnostics, Analysis of variance in one, two and three way classifications, Analysis of Covariance in one and two-way classifications.
(4) Statistical Inference: Properties of estimators, MVUE, Rao-Blackwell and Lehmann-Scheffe theorems, Cramer-Rao inequality, methods of estimation, properties of maximum likelihood and other estimators, confidence intervals. Simple and composite hypotheses, Type I and Type II errors, size and power of a test, Most Powerful and Uniformly Most Powerful tests, Neyman-Pearson lemma, Likelihood Ratio test and its properties and applications. SPRT, OC and ASN functions, Tests of goodness of fit. Parametric vs. Non-parametric Test, Frequently used non-parametric inferential statistical methods.
(5) Multivariate Analysis: Bivariate and Multivariate normal distribution, marginal and conditional distribution, Estimation of mean vector and covariance matrix, Asymptotic properties of estimators, Sampling distribution of and S, Mahalanobis D2 and Hotelling's T2 and its applications.
(6) Optimisation Techniques and Statistical Quality Control: Linear Programming, Transportation Problem, Assignment Problem, Basics of Simulation, Quality control, Process Control and Product Control, control charts, Acceptance Sampling plan, single and double sampling plans (ASN, OC, ATI, LTPD, AOQL).
(7) Sample Surveys and Design of Experiments: Simple and Stratified random sampling, ratio and regression methods of estimation, Double sampling, Systematic, Cluster, two stage and PPS sampling. Sampling and Non-sampling errors. Principles of Design of Experiments, Completely Randomized Design, Randomized Block Design, Latin Square Design, missing plot technique, 22 and 23 factorial designs, Split-Plot Design and Balanced Incomplete Block Design, Fractional factorial experiments
(8) Applied Economic Statistics: Time Series vs. cross sectional data, Multiplicative and additive models, Auto-correlation, Partial autocorrelation, Smoothing techniques, Seasonal and cyclical adjustment. Price and Quantity Index numbers, Types of index numbers and their properties. Chain and Fixed base index numbers, Cost of Living Index numbers, Wholesale Price Index, Consumer Price Index, Index of Industrial Production, Gini's coefficient, Lorenz curves, Application of Pareto and Lognormal as income distributions.
(9) Vital Statistics: Sources of vital statistics compilation, Errors in census and registration data, Measurement of population, rate and ratio of vital events, Stationary and Stable population, Life Tables, Measures of Fertility, Mortality and Reproduction, Crude rates of natural growth, Pearl's Vital Index.
(10)Numerical Analysis: Principles of floating point computations and rounding errors, Linear Equations factorization methods, pivoting and scaling, residual error correction method, Iterative methods, Jacobi, Gauss-Seidel methods, Newton and Newton like methods, unconstrained optimization, Lagrange interpolation techniques, Cubic Splines, Error estimates, Polynomials and least squares approximation; Integration by interpolation, adaptive quadratures and Gauss methods.
(11) Basic Computer Applications: Functional organization of computers, algorithms, basic programming concepts, Program testing and debugging, Subprograms and Subroutines, Sorting/searching methods, Database Management Systems, Software Engineering, Basic of Networking, Internet Technologies, Web and HTML, Distributed systems, Programming using C, MINITAB and FORTRAN.

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