RBI Grade B Syllabus

Paper I Objective Type (Economics)

• Microeconomics (Theories of consumer’s demand; Production; Market Structures and Pricing; Distribution; and Welfare Economics)
• Macro Economics (Theories of Employment, Output and Inflation; Monetary Economics; ISLM Model; Schools of Economic Thought)
• International Economics (Theories of International Trade; Balance of Payments; Exchange Rate Models)
• Theories of Economic Growth and Development (Classical neo-classical approaches to economic growth and major theories of economic development)
• Public Finance (Theories of taxation and public expenditure and Public Debt Management)
• Environmental Economics (Green GDP, Environmental Valuation, Environmental policy instruments)
• Quantitative Methods in Economics (Mathematical and Statistical Methods for Economics, Ordinary Least Square Regression)
• Current developments in Indian Economy (Growth, inflation, poverty, unemployment, financial sector developments, external sector developments, fiscal developments, agriculture, industry, infrastructure, and services)

Phase - I - Paper-II Descriptive Type (on English)

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

RBI Phase 2 Syllabus [As per RBI Gr B Notification 2023-24] - General

Paper I: Economics & Social Issues

• Growth and Development
• Measurement of growth: National Income and per capita income
• Poverty Alleviation and Employment Generation in India
• Sustainable Development and Environmental issues.

• Indian Economy
• Economic History of India - Changes in Industrial and Labour Policy, Monetary and Fiscal Policy since reforms of 1991
• Priorities and recommendations of Economic Survey and Union Budget
• 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.

• 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; International Economic Issues

• Social Structure in India
• Multiculturalism
• Demographic Trends
• Urbanisation and Migration
• Gender Issues
• Social Justice

Paper II: English Syllabus

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

• Essay Writing
• Reading Comprehension
• Precis Writing

Paper III: Finance & Management

Finance

• Financial System
• Structure and Functions of Financial Institutions
• Functions of Reserve Bank of India
• Banking System in India – Structure and Developments, Financial Institutions – SIDBI, EXIM Bank, NABARD, NHB, NaBFID etc.
• Recent Developments in Global Financial System and its impact on Indian Financial System
• Role of Information Technology in Banking and Finance
• Non-Banking System
• Developments in Digital Payments
• Financial Markets
• Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), functions, instruments, recent developments.
• General Topics
• Financial Risk Management
• Basics of Derivatives
• Global financial markets and International Banking – broad trends and latest developments
• Financial Inclusion
• Alternate source of finance, private and social cost-benefit, Public-Private Partnership
• Corporate Governance in Banking Sector
• The Union Budget – Concepts, approach and broad trends
• Basics of Accounting and Financial Statements - Balance Sheet, Profit and Loss, Cash Flow Statements, Ratio Analysis (such as Debt to Equity, Debtor Days, Creditor Days, Inventory Turnover, Return on Assets, Return on Equity, etc.)
• Inflation: Definition, trends, estimates, consequences and remedies (control): WPI- CPI – components and trends; striking a balance between inflation and growth through monetary and fiscal policies

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 theory - Meaning & 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, Vrooms expectancy theory).
• Leadership: Concept, Theories (Trait, Behavioural, 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): Organisational Change, Strategies for Change, Theories of Planned Change (Lewin’s change model, Action research model, Positive model).

• Ethics at the Workplace and Corporate Governance:
• 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, Human Resources, Marketing, etc.
• Ethical Principles in Business: introduction, Organization Structure and Ethics, Role of Board of Directors, Best Practices in Ethics Programme, Code of Ethics, Code of Conduct, etc.
• Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate Governance
• 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.

Phase II Syllabus [As per RBI Gr B Notification 2023-24] - DEPR/DSIM

Paper - I Descriptive Type (on Economics) (Question paper displayed on computer, answers to be written on paper)

Microeconomic Module

• Consumer Theory: Cardinal and Marginal Utility Analysis, Consumer Surplus, Indifference Curve Analysis, Price, Income and Substitution Effects, Game Theory
• Production Theory: Forms of Production function; Laws of Returns to Scale; Partial Equilibrium Vs General Equilibrium Analysis
• Market Theory: Pricing under different market structures
• Distribution Theories: Ricardo, Marx, Kalecki and Kaldor
• Welfare Economics: Pareto Optimality, Schools of Welfare Thought including Arrow, Coase and Sen

Macroeconomic Module

• National Income Accounting: Various methods for measurement of National Income
• Theory of employment and Output: Classical and Neo-classical approaches, Keynesian theory of Employment and output, post-Keynesian developments, Business Cycles
• Inflation: Types of Inflation, Philip's curve, Taylor’s Rule, Lucas Critique
• Money and Banking: Quantity theory of Money, Neutrality of money, IS - LM Model and AD-AS Models, Money Multiplier, Monetary Policy – Scope, Objectives and instruments, Inflation targeting
• Theories of Economic Growth and Development: Theories of growth, Classical and neoclassical approaches, Theories of Economic Development
• International trade and Balance of payments: Theories of international trade, Determination of exchange rates, Impossible Trinity
• Public Finance: Theories of taxation, Theories of public expenditure, Theories of public debt management

(Equal weightage will be given to Microeconomic and Macroeconomic modules)

Paper-II Descriptive Type (on Economics) (Question paper displayed on computer, answers to be written on paper)

Module on Quantitative Methods in Economics

• Mathematical Methods in Economics: Differentiation and Integration, Optimisation, Sets, Matrices, Linear algebra and Linear programming
• Statistical Methods in Economics: Measures of central tendency and dispersions, Probability, Time series, Index numbers.
• Econometrics and advanced Applications: Regression analysis, Panel data econometrics, Time Series econometrics, Basics of Bayesian Econometrics, Basic application of Artificial Intelligence/ Machine Learning

Module on Indian Economy – Policy and Trends

• Fiscal policy in India: Evolution, scope and limitations, current trends
• Monetary Policy in India: Evolution, Functions of the Reserve Bank of India, Monetary-Fiscal coordination, Inflation targeting, Operating framework of Monetary Policy, Current trends
• Banking and financial sector development in India: Banks and other constituents of Indian financial markets and related developments, Current trends
• Inflation in India: Trends and drivers
• External sector developments in India: Exchange rate management, external debt, Balance of payments, Current trends
• Sectoral and other developments in India: Agriculture, industry, services and social sector-related developments (Equal weightage will be given to Quantitative Economics and Indian Economy-related modules)