- Gender inequality index India’s rank
- FRBM 2016 COMMITTEE
- Dairy processing fund in budget
- Which country has withdrawn from Paris COP
- Corporate governance committee
- MGNREGA ministry?? Continue reading “RBI Grade B Phase 2- 2017 Recollected Questions”
How can I successfully crack the RBI Grade B exam in my very first attempt? by Utkarsh Awasthi
Answer by Utkarsh Awasthi:
Prerequisite: You are well off to clear Prelims.
Assuming you aren’t from commerce background as the case of most of the aspirants.
Statutory warning: This answer is strictly my opinion. if you disagree, please downvote and move. Don’t keep sitting in the comments thread with hate speeches and all. This is just for poor and lazy kids like me.
Before I Gyanofy you, (or in other words, before I try to make you feel that my widom teeth are out and I am eligible to quite guide you) let’s talk about my last year’s preparation and performance. Wait! you’ll get a bonus too, review of the examination. I’ll just talk about Phase 2.
Lets bust myths first:
- You can’t clear Grade B, without reading newspaper daily.
- Reading all Yojna magazines, all Pratiyogita darpans and all the magazines under the sun is a must. If some magazines are released in Mars(the planet), order from Marskart.com/Marszon.com and read that too.
- Visit all the official websites of various ministries and read despite the fact that you’ll take around a month to prepare a list of website of ministries to visit and thereafter going to their respective career opportunities section and ending up joining one of those ministries.
- All the RBI speeches should be learnt by heart.
- All the RBI FAQs should be on your fingertips.
- Read gazillions of novels even if you are a non reader. Whatever they say, just keep reading Chetan Bhagat over and over.
Now why I say that?
I attempted Grade B last year, started my preparation precisely on August 16, 2016. Prepared for both the phases simultaneously till September 3, 2016 and then after September 8, 2016, I prepared for Phase 2 till September 18, 2016.
Do you think I can read all the aforementioned heap of books in the said time frame? Nope.
My Score: 175.75
What needs to be done?
- Start with ESI and FM static portion, just read and understand the basic things. You’ll seldom find questions directly from your books as RBI Grade B focuses on current events based on economy and finance but in order to understand those basic affairs, you’ll need to be thorough with the basics of Economics and Finance.
- Read Economic survey thoroughly. It doesn’t matter how many pages you have to read, because apart from English, you will find half of your ESI and FM questions directly from Eco Survey. Most of the people read summaries from various blogs quoting Eco Survey is too big. I don’t understand why for the first half you can read gazillions of books, but for the other half you can’t read some hundred pages? Also it provides fodder points for your essay. Economic survey can be heard singing,” Why oh why, tell me why not me?”.
- You need to be thorough with current affairs for the last 6 months with special focus on banking and economy. This will cover your preparation of Phase 1 too. It obviously doesn’t matter if you read from newspapers or use any online free PDFs. All you need is smart preparation as per the time constraint. I have found GKtoday, Affairscloud and Gradestack on par with the RBI standards.
- Don’t underestimate the numericals sections. As I didn’t have time last year, I didn’t prepare numericals as such. The marks I scored are without solving a single numerical correctly. I still imagine if I had prepared for the same, some odd 20 easy marks would have placed me into the final list. There are many websites offering tutorials regarding the same. Follow any one.
- The most underestimated section is English. I scored close to 50% of my final score in English only. Please take it seriously and try to write an essay without extra special, CAT like vocabulary. They just want you express your views unambiguously and there should be minimal grammatical errors. Precis should be written in your own words, and comprehension must have short and precise answers.
- Please appear for as many mock tests as you can. More the number of questions you solve, more you learn problem solving. Also, more ground is covered. Sometimes when you don’t even know the correct answer and if you have practiced a lot, you’ll still get the correct answers by elimination of options and sometimes just experience helps.
- Analysis of the mock tests is must. Whenever you get a question wrong, google the same and read everything about it. Make a notes copy for that particular test series and note down fodder points of the topics you made mistakes in.
- (Edit) Don’t forget management which almost everyone ignores. 30–40 easy marks can be scored with minimal efforts.
Now as there are gazillions of coaching and tutors available with their personally designed courses, the question of the hour is which one to follow?
I will suggest not to follow any if you have around 5–6 months for preparation. However, If you are starting your preparation now, and I quote, It’s not at all impossible to crack Grade B within 2–3 months of preparation, do join any one institute, and not a single person. In my opinion, I have found Edutap good and I am currently following the same for my preparation this year apart from books and all.
These courses will cover all the Yojnas, RBI speeches, Pratiyogita darpans and current affairs in the form of MCQs only which is better from the exam point of view. I know this ain’t the right way of preparation, but yes, it is the smart way.
Review: As per the last 2 year’s papers, it is quite evident that they need you to understand economics and finance at basic level and be thorough with the current affairs. Almost 70–80% of your ESI + FM marks will depend on Economic Survey+ Current affairs. Utilize maximum resources for these two things.
Hope this helps.
All the best and let’s crack this baby!
Phase 1 on June 17, 2017
Phase 2 on July 7, 2017
Number of recruitment – 145
The Supreme Court directed the Karnataka government to release 15,000 cusecs of Cauvery water per day to Tamil Nadu to make sure the samba crops in Tamil Nadu survive.
SC also directed the Tamil Nadu government to approach the supervisory committee for the release of Cauvery water as per the final order of the Cauvery Water Dispute Tribunal. Continue reading “Cauvery Water Dispute”
- RBI plans fund to push card swipe machines (Source: ET)
- Concerned over low use of debit cards in electronic payments, the Reserve Bank of India wants banks that are not installing card accepting machines to contribute to a fund that will subsidise installation of point of sales (PoS) terminals.
- There are over 68-crore debit cards in India. Over a third of these have been added in the last two years following the implementation of the Jan-Dhan Yojana. But the number of PoS terminals (credit card accepting machines) has gone up marginally from 12 lakh to 14 lakh. The average debit card holder in India uses his/her card only once at a PoS machine for every 10 transactions in an ATM.
- The proposal envisages creation of an ‘acceptance development fund’ which will subsidize installation of PoS machines with smaller merchants and in small towns and villages. The RBI has come out in support of a fund rather than mandating installation of PoS terminals for banks as some lenders are not interested in the business. Today, four lenders dominate the merchant acquisition business -State Bank of India, HDFC Bank, ICICI Bank and Axis Bank.
- RBI asks banks to accept Income Declaration Scheme tax payments in cash (Source: ET)
- The Reserve Bank of India has issued a circular asking banks to accept in cash tax payment under the Income Declaration Scheme (IDS) that closes on September 30.
- “We advise that banks must invariably accept cash, irrespective of amount, over the counters from all declarants who desire to deposit cash at the counters, including deposits under the above Scheme through challan ITNS- 286,” the central bank has told banks while admitting to some reluctance on the part of banks.
- RBI has in its circular issued on September 8 also pointed to an August 2008 communication to the banks that asks them not to incorporate clauses in the terms and conditions which restricts deposit of cash over the counters. Banks will, however, have to comply with the appropriate Know Your Customer (KYC) requirements for customers and walk-in customers.
2. Huge NPA provisioning by banks limits credit growth: President (Source: Business Line) Continue reading “Financial Awareness-September(11-20) 2016”