The Reserve Bank of India (RBI) guides the highly competitive RBI Grade B DEPR (Department of Economic and Policy Research) exam to hire qualified candidates for the Grade B Officer position in the Department of Economic and Policy Research. If you have aspirations of becoming a Grade B Officer in this department, it is essential to have a thorough understanding of the RBI Grade B DEPR exam.
Eligibility Criteria for RBI Grade B DEPR Exam
The eligibility criteria for the exam are as follows:
- Only Indian citizens are eligible to apply.
- Candidates must possess a Master’s degree in Economics/Econometrics/Quantitative Economics/Mathematical Economics/Integrated Economics Course/Finance, with at least 55% marks or an equivalent grade.
- However, for candidates with M.Phil. or PhD qualifications, the minimum required marks are relaxed to 50%.
- Candidates must complete the ages of 21 and 30 to apply, though there are exceptions to the age limit for candidates in reserved categories.
Exam pattern for RBI Grade B DEPR Exam
The RBI Grade B DEPR exam is a three-phase selection process, which includes the following:
- Phase-I: This is an online exam that consists of 120 multiple-choice questions, carrying a total of 200 marks. The exam comprises three sections: Writing Skills in English, Economic and Social Issues, and Quantitative Aptitude.
- Phase II: This is an online exam that consists of three papers. Paper-I is for Economic and Social Issues, Paper II is for English (Writing Skills), and Paper III is for Finance and Management. Each paper is for 100 marks.
- Phase III: Candidates who successfully clear Phase II are shortlisted for the Interview, the final phase of the selection process. The Interview is for 50 marks.
Note: The final selection is based on the combined marks obtained in Phase II and Phase III.
Exam syllabus for RBI Grade B DEPR Exam
The syllabus for the RBI Grade B DEPR exam is divided into two phases, and it includes the following topics:
Phase-I
- English (Writing Skills): Essay Writing, Precis Writing, Comprehension, Report Writing, and Letter Writing.
- Economic and Social Issues: Growth and Development, Monetary and Fiscal Policy, Indian Economy, Globalization, Social Structure in India and Social Justice, Demographics, Sustainable Development, Poverty, Inclusion, and Employment.
- Quantitative Aptitude: Simplification, Number Series, Data Interpretation, Quadratic Equations, Profit and Loss, Time and Work, Time and Speed and Distance, Simple and Compound Interest, Average, Ratio and Proportion, Mensuration, Probability, and Permutation Combination.
Phase-II
- Economic and Social Issues: Growth and Development, Monetary and Fiscal Policy, Indian Economy, Globalization, Social Structure in India, Social Justice, Demographics, Sustainable Development, Poverty, Inclusion, and Employment.
- English (Writing Skills): Essay Writing, Precis Writing, Comprehension, Report Writing, and Letter Writing.
- Finance and Management: Financial System, Financial Markets, Risk Management, Basics of Derivatives, Development in the Financial Sector and Union Budget, Corporate Governance, Human Resource Management, Motivation, Leadership, Communication, Ethics, and Values.
Note: The detailed syllabus for both phases of the exam is available on the official website of the Reserve Bank of India.
Preparation Tips for RBI Grade B DEPR Exam
It is essential to follow a structured approach to prepare effectively for the RBI Grade B DEPR exam. Here are some tips that can help:
- Thoroughly understand the exam pattern and syllabus, focusing on economics and finance-related topics.
- Create and adhere to a detailed study plan consistently, allocating sufficient time for each subject.
- Practice solving previous year’s question papers and mock tests are specific to the DEPR stream to get a feel of the exam.
- Stay updated with current affairs, especially in economics, finance, and policy, by regularly reading newspapers, magazines, and other reliable sources.
- Improve your English writing and comprehension skills by practising essay writing, precis writing, and reading comprehension exercises.
- Focus on understanding economic and financial concepts, theories, and models, and make notes for quick revision.
Note: Regular practice and consistency are the keys to success in this exam.
Application Process for RBI Grade B DEPR Exam
The entire application process for the RBI Grade B DEPR exam is conducted online. To apply, candidates must visit the official website of RBI and complete the registration process by providing basic details. Once registered, candidates can fill out the application form, upload the needed documents, and pay the fee. General and OBC candidates need to pay an application fee of Rs. 850, whereas SC/ST/PWD candidates must only pay Rs. 100.
Admit Card for RBI Grade B DEPR Exam
The RBI Grade B DEPR exam admit card is available online on the official website of RBI. To take the exam, candidates must have their admit card, which includes essential details like the exam date, reporting time, venue, and the candidate’s name, photograph, and roll number. Before the exam, candidates are required to download and print their admit cards.
Result for RBI Grade B DEPR Exam
The RBI Grade B DEPR exam result is announced online on the official website of RBI. Candidates who qualify for all the phases of the exam are then selected for the Grade B Officer position in the Department of Economic and Policy Research.
RBI Grade B DEPR Career Growth
RBI offers various opportunities for career advancement to its Grade B DEPR officers. Individuals can advance to higher roles, such as Assistant General Manager, Deputy General Manager, and General Manager, based on their performance and experience in economics and policy research.
Training for RBI Grade B DEPR Exam
RBI provides its Grade B DEPR officers with comprehensive training programs to develop and enhance their economics and policy research knowledge and skills. These training programs include classroom sessions, on-the-job training, and workshops. The training programs are designed to provide the officers with a deep understanding of economic theories, policy analysis, research methodologies, and financial sector developments. The aim is to develop the officers’ expertise in economic research and policy formulation and to help them stay updated with the latest developments and trends in the field.
Benefits and Perks for RBI Grade B DEPR Officers
RBI provides several benefits and perks to its Grade B DEPR officers and their salary and allowances. These benefits may include:
- Medical Insurance: RBI offers comprehensive medical insurance coverage to its employees and their family members, ensuring they can access quality healthcare.
- Pension: RBI provides a pension scheme to its employees, ensuring financial security post-retirement.
- Leave Policy: RBI provides various types of leaves, such as casual leave, sick leave, earned leave, and maternity leave, allowing employees to maintain a healthy work-life balance.
- Loans and Advances: RBI offers loans and advances to its employees at preferential interest rates, helping them meet their financial needs.
- Housing Facilities: RBI provides housing facilities to its Grade B DEPR officers, including accommodation or a housing allowance, ensuring a comfortable living environment.
- Transport Allowance: RBI offers a transport allowance to its employees, assisting them in commuting to and from work.
- Holidays: RBI observes national and regional holidays, offering employees time off to relax and rejuvenate.
- Professional Development: RBI offers opportunities for professional development and training to enhance employees’ skills and knowledge, helping them grow in their careers.
- Bonus and Performance Incentives: RBI offers performance-based incentives and bonuses to its employees, motivating them to perform better and contribute to the organization’s success.
Overall, the benefits and perks offered by RBI make it an attractive employer, providing its employees with a healthy work-life balance, financial security, and opportunities for growth and development.
RBI Grade B DEPR Salary and Allowances
The compensation package for RBI Grade B DEPR officers comprises several components, as outlined below:
- Basic Pay: The basic pay for RBI Grade B DEPR officers is approximately Rs. 35,150/-.
- Dearness Allowance (DA): RBI Grade B DEPR officers are eligible for a current DA rate of around 17%.
- House Rent Allowance (HRA): Depending on the place of posting, RBI Grade B DEPR officers may receive varying HRA.
- Medical Benefits: RBI offers medical benefits to its employees, including coverage of medical expenses for themselves and their family members.
- Leave Policy: RBI Grade B DEPR officers are entitled to various types of leaves in line with the bank’s policies.
- Pension and Gratuity: RBI Grade B DEPR officers are eligible for assistance and gratuity per the bank’s rules, ensuring financial security after retirement.
- Loans and Advances: RBI Grade B DEPR officers can access loans and advances at concessional interest rates.
- Performance-Based Incentives: Based on their performance, RBI Grade B DEPR officers may be eligible for performance-based incentives and bonuses.
Books and Study Material for RBI Grade B DEPR Exam
The following books and resources are recommended for individuals seeking to enhance their knowledge in economics, statistics and econometrics, finance and management, general awareness, and English writing skills:
Economics:
- Macroeconomics by Mankiw and Taylor
- Microeconomics by Pindyck and Rubinfeld
- Monetary Theory and Policy by Walsh
- International Economics by Krugman and Obstfeld
- Financial Economics by Bodie, Kane, and Marcus
Statistics and Econometrics:
- Introductory Econometrics: A Modern Approach by Wooldridge
- Basic Econometrics by Gujarati and Porter
- Time Series Analysis by Hamilton
- Econometric Analysis by Greene
- Mathematical Statistics and Data Analysis by Rice
Finance and Management:
- Financial Management by Prasanna Chandra
- Principles of Corporate Finance by Brealey, Myers, and Allen
- Investment Analysis and Portfolio Management by Prasanna Chandra
- Financial Markets and Institutions by Mishkin and Eakins
- Human Resource Management by Gary Dessler
General Awareness:
- Economic Survey of India
- Union Budget
- Reserve Bank of India Annual Report
- Business Standard, Economic Times, and Financial Express newspapers
- Current Affairs magazines and online portals
English Writing Skills:
- High School English Grammar and Composition book written by Wren & Martin
- Descriptive General English by S.P. Bakshi and Richa Sharma
- Essay Writing: A Guide for Students by Munish K. Vashist
- Precis Writing and Comprehension by R.D. Gupta
- Letter Writing: A Complete Guide by N.K. Sinha
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RBI Grade B DEPR FAQs
How many times can I attempt the RBI Grade B DEPR exam?
You can take the RBI Grade B DEPR exam multiple times if you meet the eligibility requirements. You are free to make as many attempts as you need; there are no specific limits.
Does the RBI Grade B DEPR exam have a negative marking?
For the RBI Grade B DEPR exam, one-fourth of the assigned marks will be deducted if a question is answered incorrectly.
What is the minimum educational requirement for the RBI Grade B DEPR exam?
To qualify for the RBI Grade B DEPR exam, candidates must hold a Master’s Degree in Economics, Econometrics, Quantitative Economics, Mathematical Economics, Integrated Economics Course or Finance, with a minimum of 55% marks (50% for SC/ST/PWD).
Can final-year post-graduation students apply for the RBI Grade B DEPR exam?
No, final-year post-graduation students are not eligible to apply for the RBI Grade B DEPR exam. Candidates should have completed their post-graduation and obtained the degree by the specified date.
Can you provide information about the selection process for the RBI Grade B DEPR exam?
To become an RBI Grade B DEPR officer, candidates must pass three phases of selection: Phase I (Online Exam), Phase II (Online/Written Exam), and Phase III (Interview). The candidate’s overall performance in Phase II and III will determine their final selection.
Can I choose the exam centre for the RBI Grade B DEPR exam?
Candidates can select their preferred exam centre when applying for the online RBI Grade B DEPR exam. However, the RBI ultimately decides on the allotted exam centre.
Is there a specific age requirement for applying to the RBI Grade B DEPR exam?
Yes, the age limit to apply for the RBI Grade B DEPR exam is 21 to 30 years. However, there are age relaxations for candidates in reserved categories per government rules.
Can I apply for both exams, such as Officers in Grade B DEPR and Assistant posts in RBI?
Candidates can write for Officers in Grade B DEPR and Assistant posts in RBI. However, they must fulfil the eligibility criteria separately for each position and apply for each post individually.
Is there any age relaxation for veterans in the RBI Grade B DEPR exam?
Yes, veterans can avail of age relaxation as per the government rules. The specific details of age relaxation for veterans can be found in the official RBI Grade B DEPR exam notification.
Explain the training period for RBI Grade B DEPR officers.
The training period for RBI Grade B DEPR officers is usually around 15-17 weeks.
When will the next RBI Grade B DEPR exam be conducted?
The following RBI Grade B DEPR exam dates have yet to be announced.
Can I attend the RBI Grade B DEPR exam in Hindi?
Candidates can appear in Hindi for the RBI Grade B DEPR exam. The exam is conducted in both languages such as English and Hindi languages.
Can I write for the RBI Grade B DEPR exam in the final year of graduation?
No, candidates in the final year of graduation are not eligible to apply for the RBI Grade B DEPR exam. They must have completed their post-graduation or equivalent degree before applying for the exam.
Candidates need to pass the minimum qualifying marks in each exam section to be eligible for the next phase.
Explain the syllabus for the RBI Grade B DEPR exam.
The RBI Grade B DEPR exam syllabus includes topics from English (Writing Skills), Economic Concepts, and Quantitative Aptitude.
Can I write for the RBI Grade B DEPR exam if I reside outside of India?
Individuals not residing in India can apply for the RBI Grade B DEPR exam. However, they must meet the eligibility requirements and pay the application fee in Indian currency.
Explain the duration of the RBI Grade B DEPR exam.
The duration of the RBI Grade B DEPR exam varies for each phase. The Phase 1 (Online Examination) is 120 minutes, and the Phase 2 (Online/Written Examination) is 180 minutes.
Can I use a calculator in the RBI Grade B DEPR exam?
Yes, candidates are allowed to use calculators in the RBI Grade B DEPR exam. However, they can only use non-programmable calculators.
Can I simultaneously apply for the RBI Grade B DEPR and DSIM exams?
Candidates cannot simultaneously apply for the RBI Grade B DEPR and DSIM exams. They can only apply for one of the two streams.
What is the level of difficulty of the RBI Grade B DEPR exam?
The difficulty level of the RBI Grade B DEPR exam is moderate to high. It requires a good understanding of economics, statistics, and related subjects and analytical and reasoning skills.
Is there any cutoff for the overall RBI Grade B DEPR exam score?
Yes, the RBI Grade B DEPR exam has a separate overall cutoff. Candidates must score above the cutoff marks in each exam phase and overall aggregate to be considered for the next stage.
After submitting the RBI Grade B DEPR application form, can I change my exam centre?
Candidates won’t change their exam centre after submitting the RBI Grade B DEPR application form. Once the RBI allows the exam centre, it is final and cannot be changed.
Describe the sectional cutoff in the RBI Grade B DEPR exam.
Yes, the RBI Grade B DEPR exam has a sectional cutoff. To clear that phase, candidates must score a minimum qualifying mark in each exam section.
