Revised Syllabus of Recruitment of Officers in Grade-‘B’-
Selection will be through ON-LINE Examinations and interview. Examinations
will be held in two phases as described in following paragraphs.
(I) Phase-I online Examination (Objective Type): This
Paper for 200 marks will be held on September 4, 2016. Depending on the number
of candidates, the examination may be held on some other days also. A candidate,
however, has to appear for examination in only one shift on the given day. The
date, time and venue on which a candidate has to appear for examination will be
specified in the Admission Letter (AL) to be downloaded by the candidate. The
‘corrected-scores’ obtained by each of the candidates in different sessions (if
held) will be normalized using equipercentile method. The Paper consists tests
of (i) General Awareness (ii) English Language (iii) Quantitative Aptitude and
(iv) Reasoning, with composite time of 120 minutes. Other detailed information
regarding the examination will be given in an Information Handout, which will be
made available for the candidates to download along with the Admission letter
for examination from the RBI website.
Candidates have to secure minimum marks separately for each
test as well as aggregate, as prescribed by the Board. Candidates, who secure
minimum marks separately for each Test, as prescribed, will be shortlisted for
Phase-II of the examination based on the aggregate marks obtained in Phase-I.
The minimum aggregate cut-off marks for being shortlisted for Phase-II of the
examination will be decided by the Board in relation to the number of vacancies.
Roll No. of the candidates shortlisted for Phase-II examination will be
published on RBI web-site, tentatively within a week after Phase-I examination.
(II) Phase-II online Examination: The Phase-II online
Examination will be conducted on September 19, 2016, only for the candidates who
are shortlisted on the basis of results of Phase-I. The Phase-II examination
will be in shifts. Candidates are required to appear for all shifts. Separate
Admission Letters will be issued for each shift. The time-table for Phase-II
will be intimated to the candidates concerned along with Admission Letter for
Phase-II. Phase–II online examination will consist of three papers as under:
|Name of Paper
||Type of Paper
|Paper-I: Economic and Social Issues
|Paper II: English (Writing Skills)
||Descriptive, to be typed with the help of the keyboard
|Paper-III: Finance and Management
NOTE: All question papers (in both the Phases, except the test of English)
will be set bilingually in Hindi and English.
(III) Interview: Candidates will be 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. Roll No. of the candidates shortlisted for interview will be
published on RBI website at appropriate time and interview call letters will be
sent on registered email ID. Interview will be of 50 marks. 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.
:: Syllabus ::
1. English (Writing Skills):
The paper on English shall be framed in a manner to assess the writing skills
including expression and understanding of the topic.
2. Economic and 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. 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.
Suggested reference material:
- Indian Economy: Uma Kapila.(Series of Books)
- Indian Economy: Mishra Puri. (Latest Edition)
- Growth And Development: Devraj Ray
- Sociology: C.N. Shankar Rao
- Economic Times
- Business Standard
Weekly/Monthly Magazines/Bulletins /Reports:
- Economic and Political Weekly
- Southern Economist
- Business India
- RBI Bulletins
- World Development Report
- Economic Survey of India
3. Finance and Management:
(a) Financial System
- Regulators of Banks and Financial Institutions
- 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
- Risk Management in Banking Sector
- Basics of Derivatives: Forward, Futures and Swap
- Changing Landscape of Banking sector
- Recent Developments in the Financial Sector, Portfolio Investment,
Public Sector Reforms, Disinvestments
- Financial Inclusion- use of technology
- Alternate source of finance, private and social cost-benefit,
- Corporate Governance in Banking Sector, role of e-governance in
addressing the issues of corruption and inefficiency in the government
- 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),
- Inflation: Definition, trends, estimates, consequences, and remedies
(control): WPI, CPI - components and trends.
Suggested reference material:
- An introduction to Economics – A W Stonier and D C Hauge
- Monetary Theory and Public Policy – Kenneth Kurihara
- Indian Economy – Mishra and Puri
- Indian Economy – R. Dutt and KPM Sundaram
- Economic Growth and Development – Mayer and Baldwin
- Major economic newspapers and Economic and Political Weekly
- Public Finance – K K Andley and Sundaram
- Financial Management – Prasanna Chandra
Management: its nature and scope; The Management Processes;
Planning, Organisation, Staffing, Directing and Controlling; The Role of a
Manager in an Organisation. 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 Counselling –
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.
The questions on this section will be basic in nature.
- Consumers behaviour and firms; value of resources like land, labour and
- Markets-monopoly, perfect and imperfect competition
- General Equilibrium of price and activity, economic welfare and case for
regulatory / policy interventions
- Measuring national income and its components; basic macro identities and
idea of macro-balance; Goods and Financial Market Equilibrium (IS-LM
- Major macro-economic school of thoughts; Classical, Keynesian and
- Consumption and Investment demand; demand management policies and their
- Money demand and supply; monetary and fiscal policies
(c) International Economics
- Benefit of International trade; comparative and absolute advantage;
effect of International trade on resources allocation and factor price
equalisation; non-conventional trade barriers, optimum currency areas and
effect of customs union
- 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
- Public Goods, instruments of financing, government tax and non-tax
- Direct and Indirect taxes, efficiency costs of commodity taxes, income
taxation, labour supply and savings, corporate taxation and corporate
- Government expenditure policy-various components, deficit financing and
its impact on the economy, government debt and crowding out of private
(e) India’s Economy and Development Issues
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
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,
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
Suggested reference material:
- Microeconomics, Student Value Edition (8th edition) by Robert Pindyck,
- Intermediate Microeconomics : A modern Approach (8th edition) by Hal R.
- Macroeconomics (2011) by Rudiger Dornbusch, Stanley Fisher, Richard
- Macroeconomics by N. Gregory Mankiw, (Seventh Edition),
- International Economics (2013) by Domimick Salvatore
- International Economics (2011) by Paul Krugman and Maurics Obstfeld
- International Finance and Open Economy Macroeconomics (1993) by
Francisco L. Rivera- Batiz, Luis A. Rivera- Batiz
- Public Finance in Theory and Practice (1989) by Richard Abel Musgrave
and Peggy B. Musgrave
- The Concise Oxford Companion to Economics in India, Edited by Kaushik
Basu & Annemie Maertens
- Indian Economy since Independence (2014) edited by Uma Kapila
- Indian Economy : Performance and Policies (2015) edited by Uma Kapila
- India Development Report (2015) edited by S. Mahendra Dev
(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
(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 X 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
Suggested reference material:
- Atkinson, K.E. (1989): An Introduction to Numerical Analysis, Wiley.
- Bhat, B.R. (2007): Modern Probability Theory, New Age International.
- Cochran, William G. (1977): Sampling Techniques. John Wiley and Sons,
- Das, M.N. and N. C. Giri (1986): Design and Analysis of Experiments.
Wiley Eastern Ltd.
- Draper, N.R. and H. Smith (1998): Applied Regression Analysis, John
Wiley & Sons.
- Goon, A.M., M. K. Gupta and B. Dasgupta (2001): Fundamentals of
Statistics. (2 Vols.), World Press, Kolkata.
- Gibbons, J.D. & S. Chakrabarti (2007): Non parametric Statistical
Inference, Chapman and Hall.
- Gupta, S.C. and V. K. Kapoor (2007): Fundamentals of Mathematical
Statistics, Sultan Chand and Sons.
- Gupta, S.C. and V. K. Kapoor (2008): Fundamentals of Applied Statistics,
Sultan Chand and Sons.
- Hollander Myles and Douglas A. Wolfe (2006): Non Parametric Statistical
- Kshirsagar, A.M. (1983): A Course in Linear Models Marcel Dekker, New
- Montgomery, D. C. (2008): Design and Analysis of Experiments, John Wiley
- Montgomery, D.C., E. A. Peck and G. G. Vining(2006): Introduction to
Linear Regression Analysis, John Wiley and Sons.
- Murthy, M.N. (1967): Sampling Theory and Methods. Statistical Publishing
- Rajaraman, V. (2010): Fundamentals of Computers, Prentice-Hall India.
- Rohatgi, V. K. and A. K. Md. Ehsanes Saleh (2009): An Introduction to
Probability and Statistics, John Wiley and Sons.
- Saxena, H.C. (2005): Finite Differences and Numerical Analysis, S. Chand
- Silberschatz, A., H. F. Korth and S. Sudarshan (1997): Database System
- Sinha, P.K. (2010): Computer Fundamentals, University Science Press.
- Sukhatme, P.V., B. V. Sukhatme, S. Sukhatme and C. Asok (1984): Sampling
Theory of Surveys with Applications, Iowa State University Press, Iowa, USA.
- Swaroop, K., P. K. Gupta and M. M. Singh (1985): Operations Research,
Sultan Chand and Sons.
- Taha, H.A. (1982). Operations Research: An Introduction, Macmillan