RBI Grade B Phase 2 DEPR Exam Analysis: March 31, 2021


Today was the day to be more thrilled as well as relaxed. Finally, RBI Grade B Phase 2 DEPR exam was conducted by the RBI and we are here with the exam analysis. The level of the exam was moderate and most questions were asked from the macro-economics section. The pattern of the exam is given below:

Name of paperDuration (In minutes)Maximum marks 
Paper-II Descriptive Type (on Economics) (Question paper displayed on the computer, answers to be written on paper)180100
Paper-III English-Descriptive (To be typed with help of keyboard)90100

Pattern of Questions

The questions were mainly from three sections in the descriptive economics paper. The sections were: macroeconomics, microeconomics, and banking and finance related. The questions in these sections were from the syllabus given by the RBI and from the basic current economy of the country. The English paper was easy to attempt. All the questions asked in this section were general in nature.

Areas covered in the exam

We are splitting the areas of the questions asked in the tables mentioned below. These questions are also important for the RBI Grade B General stream. 

Economics Descriptive Paper II

SectionMarks AllottedTopics Covered
Macroeconomics and Indian Economy 20 marks: 10 Questions (5 to be attempted)Finance Commission (important for RBI Grade B General)Covid-19 & Government ResponseStatus of malnutrition in India and measures to combat itInequality in developed and developing countries
Microeconomics20 Marks QuestionsMundell Flemming Model under perfect and imperfect capital mobilityGeneral Equilibrium NumericalProduction NumericalPublic goods Numerical and Arrow’s impossibility theorem
Banking and Finance Related10 Marks QuestionsVAR (Value Added Risk) ModelNiche BanksDrivers of Inflation in India in 2019-20 (Important for RBI Grade B general also)Transmission lags in economy

English (Writing Skills) Paper III

The paper was easy to attempt and very generic topics were asked. If you had a basic knowledge of the terms and had done practice of the concepts then this paper was a cakewalk for you. Let’s see the areas from where the questions were asked. This section has extra importance because these questions or questions of similar interest can be asked in RBI Grade B general exam also.

SectionTopics asked
Essay TopicsMeasures to decrease investment riskStart-up cultureIs e-learning helpful to studentsAdversity leads to evolution
Precis TopicGlobal Warming
Reading ComprehensionBasic generic topic and easy questions were asked


Overall the exam was of moderate difficulty in paper II and easy for Paper III. The questions which were from the banking sector, covid and its measures, malnutrition may also be asked in RBI Grade B general exam. Prepare for all the concepts wisely and make a rough draft of your answers in your mind before writing. Your answers should include the introduction part, body, and a conclusive statement. 

The final selection will be done on the basis of Paper I, II, III & Interview. The interview will be for 75 marks.

For a more targeted preparation, you may opt to enroll in the RBI Grade B DEPR or RBI Grade B DR (General) online course. All courses are curated by our subject matter experts after hours of discussion. You will benefit from their experience and the world-class guidance and could see the difference in your preparation level vis-a-vis your peers. Hurry!! Today is the best day to start your preparation and reach another level altogether. Enroll in our soon to be launched interview course to ace your interview and get ahead of the competition. Till then keep watching this space and feel free to drop your comments.

Wish you a great achievement!

Also read:

RBI’s Monetary Policy: February 2021

RBI: Financial Stability Report 2021

RBI Grade B 2021: How to Approach ESI Descriptive Paper?

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