RBI Grade B Notification 2021: Phase 2 on April 01, 2021

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RBI Grade B Notification 2021 was out on January 28,2021 with some major changes in the Exam Pattern, Syllabus, and Eligibility Criteria. 

RBI Grade B 2020-21 exam is going to be held in three phases – Preliminary, Mains, followed by the Interview. The notification is released to fill a total of 322 vacancies under (DR) posts for General, DEPR & DSIM roles. The application window to apply for the RBI Grade B 2021 exam is closed now. and the Phase 1 exam of the same was also held recently (March 06, 2021). 

In today’s article, we are going to discuss in detail all the changes that have been introduced by RBI as well as the notification. Let’s see what major changes are there in the RBI Grade B notification 2021.

Click here to download the RBI Grade B Official Notification 2020-21 PDF

RBI Grade B 2021- What’s New??

As mentioned above, here is the snippet of the changes that have been introduced in the RBI Grade B Notification 2021. The changes are discussed in detail separately. 

RBI Grade B Exam Category Earlier 2019What’s New? 2021 
Educational CriteriaA minimum of 60% marks (50% in case of SC/ST/PwBD) or an equivalent grade in Bachelor’s degree as well as in 12th (or Diploma or equivalent) and 10th Standard examinations.           Graduation in any discipline /Equivalent technical or professional qualification with minimum 60% marks (50% for SC/ST/PwBD applicants) or Post-Graduation / Equivalent technical qualification with minimum 55% marks (pass marks for SC/ST/PwBD applicants) in aggregate of all semesters / years.
Exam Pattern Phase 2 Exam fully objective, except English Descriptive paper Introduction of descriptive questions in Phase 2 of ESI (Economic & Social Issues) and FM  (Finance & Management) with 50% weightage
Syllabus Ethics is added and few more details 
Interview Weightage 14.28% (50 out of 350 marks) 20% (75 out of 375 marks)
Psychometric TestNoIntroduced 

RBI Grade B 2020-21 Eligibility Criteria

There is great news for the candidates applying for the DR-General posts. Now, in order to apply for the RBI Grade B exam, you don’t need to possess a minimum percentile of 60% in your 10th and 12th grades as required earlier. However, to apply to the RBI Grade B 2020-21 exam you should still require a Bachelor degree in the respective field with a minimum 60% for general category and 50% for reserved categories. 

If you scored 55% and above in your post-graduation, you still stand a chance to apply to this coveted banking exam. This opens up a window of opportunity for many other aspirants. This criterion is passing marks for reserved category candidates. Detailed educational qualification as mentioned in the RBI Grade B 2021 notification is given below.

Please note that there is no change in the eligibility criteria for the candidates applying for the DEPR & DSIM posts. For your reference, we have provided a table of RBI Grade B Education Criteria below.

Name of the PostEducational Criteria
Officers in Grade ‘B’ (DR) – (General)Graduation in any discipline /Equivalent technical or professional qualification with minimum 60% marks (50% for SC/ST/PwBD applicants) or Post-Graduation / Equivalent technical qualification with minimum 55% marks (pass marks for SC/ST/PwBD applicants) in aggregate of all semesters / years.
Officers in Grade ‘B’ (DR) – DEPRA Master’s Degree in Economics / Econometrics /Quantitative Economics / Mathematical Economics /Integrated Economics Course/ Finance, with a minimum of 55% marks (50% for SC/ST/PWBD) or an equivalent grade in aggregate of all semesters /years from a recognized Indian or Foreign University /Institute.
Officers in Grade ‘B’ (DR) – DSIMA Master’s Degree in Statistics/ Mathematical Statistics/ Mathematical Economics/ Econometrics/Statistics & Informatics from IIT-Kharagpur/Applied Statistics & Informatics from IIT-Bombay with a minimum of 55% marks (50% for SC/ST/PWBD) or equivalent grade in aggregate of all semesters/years; OR Master’s Degree in Mathematics with a minimum of 55% marks or an equivalent grade in aggregate of all semesters/years and one-year postgraduate diploma in Statistics or related subjects from an institute of repute; OR M. Stat. The degree of Indian Statistical Institute with a minimum of 55% marks in aggregate of all semesters/years OR Post Graduate Diploma in Business Analytics (PGDBA) jointly offered by ISI Kolkata, IIT Kharagpur and IIM Calcutta with a minimum of 55% marks or equivalent grade in aggregate of all semesters/years

RBI Grade B 2020-21 Selection Process

The selection process to recruit RBI Grade B Officers is the same as earlier. However, the exam pattern for Phase 2 has changed. Let’s see what those changes are.

  • Phase 1 or Prelims – Online Exam- No change.
  • Phase 2 or Mains – Online Exam- Changed
  • Phase 3 or Interview – Changed.

RBI Grade B Phase 1 Exam Pattern- No change

As mentioned above, there is no change in the Phase 1 exam pattern. RBI Grade B Phase 1 exam will be an online objective test consisting of four sections: English Language, Quantitative Aptitude, Reasoning and General Awareness.  It will be a single test comprising 200 marks. A total time of 120 minutes will be allotted to you. However, separate time will be allotted for each section in the exam. Further information is provided in the table below.

Sl. No. Name of Test No. of Questions Marks Time Allotted
1. English Language 30 30 Total Time of 2 Hours
2. Quantitative Aptitude 30 30
3. Reasoning 60 60
4. General Awareness 80 80
  Total 200 200

RBI Grade B Phase 2 Exam Pattern- Changed

RBI Grade B Phase 2 exam pattern has changed drastically. The RBI Grade B Phase 2 will consist of three papers (Paper I, Paper II and Paper III) as earlier but the Paper I and III of RBI Grade B Phase 2 will be (50% Objective + 50% Subjective) this time. It used to be an objective paper before. Paper II or English Descriptive remains unchanged as per the official notification. RBI Grade B Phase 2 exam pattern 2021 is provided in the table below.

PaperName of PaperType of PaperTime Allotted (Minutes)Marks
Paper IEconomic and Social Issues50% Objective Type, 50% Descriptive; answers to be typed with the help of the keyboard30 for Objective and 90 for Descriptive50 for Objective & 50 for Descriptive
Paper IIEnglish (Writing Skills)Descriptive Type, to be typed on the computer with the help of keyboard90100
Paper IIIFinance and Management50% Objective Type and 50% Descriptive; answers to be typed with the help of the keyboard9050 for Objective & 50 for Descriptive

RBI Grade B Phase 3 Exam Pattern- Changed

RBI Grade B Phase 3 or Interview weightage has also been increased in RBI Grade B 2021. The Interview is going to be of 75 marks this time. Earlier it was for 50 marks. 

RBI Grade B Syllabus 2021 

There are some additions in the Economic and Social Issues as well as Finance & Management syllabus in RBI Grade B 2020-21 exam. Along with previous RBI Grade B Syllabus, provided below is the additional Syllabus for RBI Grade B 2021 exam

Economic and Social Issues Syllabus 

1. Priorities and recommendations of Economic Survey and Union Budget

2. 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.

3. International Economic Issues

Finance and Management Syllabus:

Finance:

Impact of the Global Financial Crisis of 2007-08 and the Indian response

Global financial markets and International Banking – Broad trends and latest developments. FinTech

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 theoryMeaning & 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, Vroom’s expectancy theory).

Leadership:

Concept, Theories (Trait, Behavioral, 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): Organizational Change, Strategies for Change, Theories of Planned Change (Lewin’s change model, Action research model, Positive model).

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, HumanResources, Marketing, etc. Ethical Principles in Business: introduction, Organization Structure and Ethics. 

RBI Grade B Exam Dates 2021

The complete details of the RBI Grade B exam 2021 is provided in the table below 

Detailed InformationImportant Dates
Commencement of online registrationJanuary 28, 2021 [Closed]
Closure of online registrationFebruary 15, 2021 [Closed]
RBI Grade B General Phase 1 and DEPR/ DSIM Paper 1 exam date March 6, 2021 [Admit Card Released]
Paper 2 and Paper 3 exam date for RBI Gr B- DEPR / DSIMMarch 31, 2021
Phase 2 exam date for RBI Gr B -GeneralApril 1, 2021

RBI Grade B Salary 2021

RBI Grade B is a dream of many. RBI not only gives you a chance to participate and have a say in shaping the country’s economy but also offers its employees a decent salary package. Further with the length of service you have chances to reach up to RBI Deputy Governor Level. As an RBI Grade B officer you will receive a salary within the pay scale of Rs 35150-1750(9)-50900-EB-1750 (2) – 54400-2000(4)-62400 (16 years). Apart from this you will also be eligible for an increment of Rs 1750 which will continue up to 9 years of your service. After 9 years, you will be eligible under the ‘executive band’.

RBI Grade B 2021 Online Course

RBI Grade B is a dream of every aspirant looking to make a career in the banking sector therefore, it’s very important that you study the best in class material. To assist you with this exam and the changed syllabus, ixamBee provides RBI Grade B Online Course. 

This course consists of all the required content which will make your preparation easier and better. Salient features of the RBI Grade B 2020-21 Exam is provided below:

  1. Video Lessons: Short & crisp videos for concepts, covering all important topics for all the subjects of Phase 1 and Phase 2. 
  2. Study Notes: Detailed notes as PDFs for the ease of learning and building fundamentals.
  3. Practice Questions: Get access to 17000+ questions for learning reinforcement at various stages of learning:
  4. Concept Checking Questions: To check your learning after each concept in videos
  5. Mock Tests: Get 20 Full-length Mock tests for Phase 1 and 15 full-length Mock Tests (15 Tests for FM and 15 MTs for ESI) for the Phase 2 exam  Please note that out of 15 tests each for ESI and FM, only 5 FM tests and 5 ESI tests will be evaluated. Rest 10 tests each for ESI and FM would be for practice and no evaluation will be provided for the same. 
  6. Descriptive English: This can be a real game-changer. Get access to video lessons and study notes on writing skills, sample essays, suggested topics, and 5 Descriptive English Mock Tests with individual Performance Feedback
  7. Online Live Classes: Study at your own pace and time and get your doubts clarified by the experts through these live sessions. These experts have cleared RBI Grade B, Bank PO, SIDBI, and other competitive exams
  8. Interview Guidance: Our experts will provide interview guidance in the form of Mock Interviews and personal feedback on your performance

ixamBee believes in providing education to the last student of our country. Therefore, it provides over 1000 Free Mock tests of various government exams. You can attempt RBI Grade B mock tests absolutely free of cost. 

All the best for RBI Grade B 2021 Exam!!

Also Read:

RBI Grade B 2020-21: RBI Grade B Notification, Exam Pattern, Vacancy And Other Details

Perks of being an RBI Grade B Officer

Beat the Heat of RBI Grade B 2021 with this 65 Days Plan

Get Free Online Test Series, GK updates in form of Beepedia,  as well as latest updates for Bank POBank ClerkSSCRBINABARD and Other Government Jobs.

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