Phase-I of RBI Grade B only gets you in the door. Your rank is decided by Phase-II (300 marks) and the interview (75 marks), and Phase-II is where most aspirants struggle: two subjects most graduates have never studied, plus typed descriptive answers. This guide shows you how to prepare Economic & Social Issues (ESI) and General Finance & Management (FM) from zero.
Phase-II pattern (RBI Grade B General)
| Paper | Type | Questions | Marks | Time |
|---|---|---|---|---|
| Paper-I: Economic & Social Issues | Objective | 30 | 50 | 30 min |
| Paper-I: Economic & Social Issues | Descriptive (attempt 4 of 6) | 4 | 50 | 90 min |
| Paper-II: English (Writing Skills) | Descriptive | 3 | 100 | 90 min |
| Paper-III: General Finance & Management | Objective | 30 | 50 | 30 min |
| Paper-III: General Finance & Management | Descriptive (attempt 4 of 6) | 4 | 50 | 90 min |
| Total | 300 |
- In the descriptive parts of ESI and FM you answer 4 of 6 questions: 2 of 15 marks and 2 of 10 marks.
- Answers are typed on the keyboard (Hindi typing in Inscript or Remington is allowed).
- Final merit = Phase-II + Interview (75 marks).
Full syllabus: RBI Grade B syllabus & exam pattern
Paper-I: Economic & Social Issues (ESI)
What the syllabus covers
- Growth and development: national income, per capita income, poverty alleviation, employment, sustainable development
- Indian economy: economic history, industrial and labour policy, monetary and fiscal policy since 1991, Economic Survey and Union Budget
- Money and finance: Indian money and financial markets, role of banks and RBI, public finance, agriculture, industry and services
- Globalisation: balance of payments, EXIM policy, IMF, World Bank, WTO, regional co-operation
- Social structure: demographic trends, urbanisation and migration, gender issues, social justice
What to read (keep it short)
- One standard book for concepts: Indian Economy by Ramesh Singh (selected chapters only: growth, inflation, BoP, fiscal policy, banking).
- Economic Survey: read the summary chapter and the chapters on fiscal, monetary, external sector, agriculture and social infrastructure.
- Union Budget: key highlights, fiscal deficit numbers, major new schemes.
- RBI publications: Monetary Policy Statements and the latest Financial Stability Report summary.
- Current affairs (last 6–8 months): government schemes, social sector reports, economy news. Use our daily current affairs and explainers.
Paper-III: General Finance & Management (FM)
Finance
- Financial system: RBI, banking structure, SIDBI, EXIM Bank, NABARD, NHB, NaBFID, NBFCs, digital payments, IT in banking
- Financial markets: primary and secondary; forex, money, bond and equity markets
- General topics: risk management, derivatives, financial inclusion, PPP, corporate governance in banks, Union Budget, accounting and financial statements, ratio analysis, inflation (WPI, CPI)
Management
- Fundamentals of management (planning, organising, staffing, directing, controlling)
- Organisational behaviour: motivation theories (Maslow, Herzberg, McGregor), leadership styles, communication, conflict, change management
- Ethics at the workplace and corporate governance
What to read
- Management: one standard management/OB textbook (only the syllabus chapters) or good self-made notes on theories with Indian examples.
- Finance: RBI and SEBI websites for regulations, the Financial Stability Report, and current news on banking regulation.
- Basic accounting and ratios: enough to explain a balance sheet, P&L and key ratios in an answer.
How to write descriptive answers that score
- Structure every answer: introduction (definition or current data) → 3–5 body points with headings → a balanced conclusion (way forward).
- Use data: one or two current numbers (from the Economic Survey, Budget or RBI) lift an answer from average to good.
- Length: about 250–300 words for a 15-mark answer and 150–200 words for a 10-mark answer.
- Typing speed matters. Aim for 30–35 words per minute with few errors. Practise typing for 20 minutes every day from week 1.
- Time plan for 90 minutes: 25 min per 15-mark answer, 15 min per 10-mark answer, 10 min buffer.
10-week plan from scratch
| Week | ESI | FM | Daily habit |
|---|---|---|---|
| 1 | Growth, national income, poverty, employment | Basics of management, functions | 20 min typing + current affairs |
| 2 | Inflation, monetary policy, RBI tools | Motivation and leadership theories | Write 1 answer (typed) |
| 3 | Fiscal policy, Union Budget, public finance | Communication, conflict, change management | Write 1 answer |
| 4 | Agriculture, industry, services | Financial system: RBI, NABARD, SIDBI, EXIM, NHB | Write 1 answer |
| 5 | Balance of payments, IMF, World Bank, WTO | Financial markets: money, bond, forex, equity | Write 1 answer |
| 6 | Social issues: demography, urbanisation, gender | Risk management, derivatives, financial inclusion | 2 answers + 1 objective test |
| 7 | Economic Survey highlights | Accounting, financial statements, ratio analysis | 2 answers + 1 objective test |
| 8 | Current schemes and reports (last 8 months) | Corporate governance, ethics, current regulations | Full ESI mock (objective + descriptive) |
| 9 | Revision + mocks | Revision + mocks | Full FM mock |
| 10 | Weak topics + data sheet | Weak topics + theory sheet | 1 full mock every 2 days |
Mistakes to avoid
- Reading too much and writing too little. Descriptive marks come from practice, not from reading.
- Ignoring typing practice until the last month.
- Skipping the objective part. 100 of the 300 marks are objective (ESI 50 + FM 50) and need regular MCQ practice.
- Writing without current data. Keep a one-page “data sheet” of the latest GDP, inflation, fiscal deficit and repo rate figures.
Useful SyllabusBox pages
- Explainer: Repo rate and inflation targeting
- Explainer: CRR and SLR
- Explainer: How GST works
- RBI Governors and Banking history
Pattern and syllabus are from RBI Services Board advt. RBISB/DA/01/2026-27 (Appendix-II). Always confirm with the latest official notification on rbi.org.in.
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