The Reserve Bank of India (RBI) was established on April 1, 1935, as the Central Bank of the country, in accordance with the provisions of the Reserve Bank of India Act, 1934, with its central office in Mumbai. The Central Board, which is nominated by the Government of India for a period of four years, governs the RBI and there are four local boards in Mumbai, Calcutta, Chennai and New Delhi. The Recruitment to Reserve Bank Officers Grade ‘A’/‘B’ exam is conducted by Reserve Bank of India Service Board, Mumbai.

The notification for the exam comes out in January in Employment News and other major newspapers. Application forms can be obtained by sending Rs 100 by a demand draft favouring Reserve Bank of India, payable at Mumbai, to RBI Services Board, Reserve Bank of India Building, Central Office, Mumbai 400 001, by post. For more details, log on to www.rbi.org.in.

Eligibility

You should have a first class bachelors degree with a minimum of 60 per cent marks or equivalent grade or ii) a second class masters degree with a minimum of 55 per cent marks or equivalent grade or iii) a doctorate degree with 50 per cent marks in your masters degree or equivalent grade or iv) chartered/cost accountant/ company secretary (ACS) with a bachelors degree or v) a postgraduate diploma in management from the Indian Institute of management (IIM).

Your age should be between 21 and 30 years. For MPhil or PhD candidates, the upper age limit will be 31 and 33 years respectively. For candidates with experience as an officer in a commercial bank or a financial institution in the public sector, the upper age limit can be relaxed for a maximum of three years, but should not exceed 33 years.

Entrance exam

Selection is done through a written exam and an interview. The written exam is held in two phases. Phase I (objective-type test): This paper is of three hours’ duration and carries 200 marks and is conducted in February. The paper consists of i) general awareness, ii) English language, iii) quantitative aptitude and iv) reasoning.

Phase II (descriptive-type test): This exam is conducted for successful candidates of Phase I and is held in March. The exam consists of three descriptive-type papers: Paper I: English, Paper II: Economic and social issues and Paper III: Finance and management. Each of these papers is of three hours’ duration, carrying 100 marks each.

Pattern of exam

Syllabus for Paper I: Essay, précis writing, comprehension, and office correspondence.

Syllabus for Paper II: growth and development, national income, sustainable development, economic reforms in India, etc.

Syllabus for Paper III: the Union budget, taxes and other sources of revenue, capital market, money market and foreign exchange market, stock exchanges, etc.

How to prepare

Brush up your English language skills from books by Wren and Martin or A.S. Hornby. For Paper 1 and II, refer to books like Indian Economy since Independence by Uma Kapila and Indian Economics by Misra and Puri. The latest pre-budget Economic Survey and the latest Five-Year Plan document may also come useful. Go through the General Studies Manual for the Civil Services by Unique or Tata Mc Graw Hill publishers too.

sample test paper

English

Write an essay on any one of the following topics:

1. India’s nuclear programme is about to enter its brightest phase.

2. Role of civil society in ensuring a just and fair system

3. Internet is one of the greatest revolutions that have occurred.

Economic and social issues

What measures can be taken to promote communal harmony in the country?

How far do you think genetically modified food products provide a solution to global hunger and malnutrition?

Finance and management

What is the role of external financial assistance in the Indian economy?

Name the two agencies that have helped to promote FDI in India.

What is “social justice” in the context of the Indian economy?

Write a note on the strategy of planning in India since 1951.