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Date:Aug19,2015
RevisedprocessofrecruitmentofOfficersinGradeB(DR)
IthasbeendecidedbytheReserveBankofIndiatointroduceanewschemeofselectionforrecruitmentofofficersinGradeB(DR),fromrecruitmentyear2015.Under
thenewschemeofselectiontheexaminationwillbecomputerbased(ObjectivetypewithMultipleChoiceQuestionpattern)andconsistsoftwophases,viz.,PhaseI
andPhaseII,followedbyInterview.WhilePhaseIexaminationwillcontinueasperexistingPhaseIexaminationforGradeB(DR),PhaseIIexaminationwillconsistof
three papers of which two will be compulsory papers and one optional paper. The compulsory papers are PaperI on English and PaperII on Economic and Social
Issues.TheoptionalPaperPaperIIIwillhaveoptionsofsubjects,viz.,Finance&ManagementorEconomicsorStatistics.InPhaseIIthepaperonEnglishwillbe
descriptive type and computer based, i.e. to be typed on computer screen with the help of the keyboard. Prospective candidates are advised that PhaseII of the
examinationwillbeconductedwithintwotothreeweeksofPhaseIoftheexamination.ThenewschemeofselectionisfurnishedintheAnnexA.TheSyllabiofallthe
papersarefurnishedinAnnexB.
AnnexA
NewSchemeofSelectionforrecruitmentofofficersinGradeB
A.ExaminationPattern
(i)Examinationwillconsistoftwophases,viz.PhaseI&PhaseIIfollowedbyinterview.
(ii)PhaseIexaminationwillbeobjectivetypewithMultipleChoiceQuestions(MCQs).ThePhaseIexaminationwillcontinueaspertheexistingPhaseIexaminationfor
GradeB(DR).TherearefourmodulesinPhaseI,viz.GeneralAwareness,EnglishLanguage,QuantitativeAptitudeandReasoning.
(iii)PhaseIIexaminationswillconsistofthreepapersinMCQpattern(exceptPaperI)viz.PaperIonEnglish(writingskills)PaperIIEconomic&SocialIssuesand
PaperIII(optionalsubjects)Finance&Management/Economics/Statistics.
(iv)Candidateswillberequiredtowriteallthepapersonline.
(v)OnlysuccessfulcandidatesofPhaseIwillappearforPhaseIIexaminationonalaterdate.
(vi)BasedontheresultsofPhaseIIexaminationscandidateswillbeshortlistedforinterview.
(vii)FinalselectionwillbethroughmeritlistswhichwillbepreparedbyaddingmarkssecuredbycandidatesinPhaseII(PaperI+PaperII+PaperIII)andInterview.
B.DurationofExaminationsandDistributionofMarks
(i)PhaseI:ObjectiveType2hours200marks
(ii)PhaseII:ThreePapers300marks
a. PaperIonlineEnglish(writingskills)1hours100marks
b. PaperIIEconomicandSocialIssues1hours100marks
c. PaperIIIOptionalPaper(Finance&Management/Economics/Statistics)1hours100marks
(iii)Interview:50marks
Theinterviewwillcontinueinitsexistingformat.
C.EducationalQualification
AMinimumof60%marks(50%incaseofSC/ST/PWD)orequivalentinBachelorsDegreeaswellasin12thand10thstandardexaminations.
D.AgeCriteriaandAgeRelaxationinupperagelimit
(i)ThepresentagecriteriaofBetween21to30yearswillberetained.
(ii)ForM.PhilandPh.Dcandidatestheupperagelimitwillbe32and34years,respectively.
(iii) As per extant practice age relaxation will be available to experienced candidates viz. candidates having experience as an officer in Commercial Bank/ Financial
InstitutioninPublicSectorasalsocandidateswithpriorexperienceinReserveBankofIndia,totheextentofnumberofyearsofsuchexperiencesubjecttoamaximum
ofthreeyears.Forsuchcandidates,upperagelimitshouldnotexceed33yearsincludingexperience.Forexperience,probationaryperiodwillnotbereckoned.
(iv)Therearerelaxationsinupperagelimitasperstatutoryrequirementsandforthestaff.
Asperexistingpracticecumulativeagerelaxationwillnotbeavailableincombinationwithanyitemsmentionedat(ii)(iii)&(iv).
E.Numberofattempts:
Themaximumpermissiblenumberofattempts(whichwereapplicableforcandidatesbelongingtoUnreserved/GeneralCategory)hasbeenincreasedfrom4to6.
Fordetailedinformation,candidatesmaycarefullyreadthedetailedadvertisementwhichwillbeuploadedonRBIwebsiteatthetimeofrecruitmentprocess.
AnnexB
Syllabi
1.English(WritingSkills):
ThepaperonEnglishshallbeframedinamannertoassessthewritingskillsincludingexpressionandunderstandingofthetopic.
2.EconomicandsocialIssues:
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.GlobalizationOpeningupoftheIndianEconomyBalanceofPayments,ExportImportPolicyInternationalEconomicInstitutionsIMFandWorldBank
WTO Regional Economic Cooperation. Social Structure in India Multiculturalism Demographic Trends Urbanization and Migration Gender Issues Social
Justice:PositiveDiscriminationinfavoroftheunderprivilegedSocialMovementsIndianPoliticalSystemHumanDevelopmentSocialSectorsinIndia,Health
andEducation.
Suggestedreferencematerial:
Books:

1.
2.
3.
4.

IndianEconomy:UmaKapila.(SeriesofBooks)
IndianEconomy:MishraPuri.(LatestEdition)
GrowthAndDevelopment:DevrajRay
Sociology:C.N.ShankarRao

NewsPapers:
1. EconomicTimes
2. Hindu
3. BusinessStandard
Weekly/MonthlyMagazines/Bulletins/Reports:
1.
2.
3.
4.
5.

EconomicandPoliticalWeekly
SouthernEconomist
Yojana
BusinessIndia
RBIBulletins

Reports:
1. WorldDevelopmentReport
2. EconomicSurveyofIndia
3.FinanceandManagement:
(A)Finance
(a)FinancialSystem
1. RegulatorsofBanksandFinancialInstitutions
2. ReserveBankofIndiafunctionsandconductofmonetarypolicy,BankingSysteminIndia,FinancialInstitutionsSIDBI,EXIM,NABARD,NHB,etc.
(b)FinancialMarkets
PrimaryandSecondaryMarkets(Forex,Money,Bond,Equity,etc.),functions,instruments,recentdevelopments.
(c)GeneralTopics
1. RiskManagementinBankingSector
2. BasicsofDerivatives:Forward,FuturesandSwap
3. ChangingLandscapeofBankingsector
4. RecentDevelopmentsintheFinancialSector,PortfolioInvestment,PublicSectorReforms,Disinvestments
5. FinancialInclusionuseoftechnology
6. Alternatesourceoffinance,privateandsocialcostbenefit,PublicPrivatePartnership
7. CorporateGovernanceinBankingSector,roleofegovernanceinaddressingtheissuesofcorruptionandinefficiencyinthegovernmentsector.
8. TheUnionBudgetDirectandIndirecttaxesNontaxsourcesofRevenue,GST,ThirteenthFinanceCommissionandGST,FinanceCommission,FiscalPolicy,
FiscalResponsibilityandBudgetManagementAct(FRBM),
9. Inflation:Definition,trends,estimates,consequences,andremedies(control):WPI,CPIcomponentsandtrends.
Suggestedreferencematerial:
a. AnintroductiontoEconomicsAWStonierandDCHauge
b. MonetaryTheoryandPublicPolicyKennethKurihara
c. IndianEconomyMishraandPuri
d. IndianEconomyR.DuttandKPMSundaram
e. EconomicGrowthandDevelopmentMayerandBaldwin
f. MajoreconomicnewspapersandEconomicandPoliticalWeekly
g. PublicFinanceKKAndleyandSundaram
h. FinancialManagementPrasannaChandra
(B)Management:
Management:itsnatureandscopeTheManagementProcessesPlanning,Organisation,Staffing,DirectingandControllingTheRoleofaManagerinanOrganisation.
Leadership:TheTasksofaLeaderLeadershipStylesLeadershipTheoriesAsuccessfulLeaderversusaneffectiveLeader.HumanResourceDevelopment: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 nonverbal Communication upward, downward and lateral communication Barriers to Communication, Role of Information Technology.
CorporateGovernance:FactorsaffectingCorporateGovernanceMechanismsofCorporateGovernance.
Thequestionsonthissectionwillbebasicinnature.
4.Economics
(a)Microeconomics
1. Consumersbehaviourandfirmsvalueofresourceslikeland,labourandcapital
2. Marketsmonopoly,perfectandimperfectcompetition
3. GeneralEquilibriumofpriceandactivity,economicwelfareandcaseforregulatory/policyinterventions
(b)Macroeconomics
1. MeasuringnationalincomeanditscomponentsbasicmacroidentitiesandideaofmacrobalanceGoodsandFinancialMarketEquilibrium(ISLMFramework)
2. MajormacroeconomicschoolofthoughtsClassical,KeynesianandMonetarist
3. ConsumptionandInvestmentdemanddemandmanagementpoliciesandtheireffectiveness

4. Moneydemandandsupplymonetaryandfiscalpolicies
(c)InternationalEconomics
1. Benefit of International trade comparative and absolute advantage effect of International trade on resources allocation and factor price equalisation non
conventionaltradebarriers,optimumcurrencyareasandeffectofcustomsunion
2. International finance and exchange rates issues in an open economy, benefits and costs of an interconnected financial markets evolution of international
financialarchitecture
(d)PublicEconomics
1. PublicGoods,instrumentsoffinancing,governmenttaxandnontaxrevenue
2. DirectandIndirecttaxes,efficiencycostsofcommoditytaxes,incometaxation,laboursupplyandsavings,corporatetaxationandcorporatebehaviour
3. Governmentexpenditurepolicyvariouscomponents,deficitfinancinganditsimpactontheeconomy,governmentdebtandcrowdingoutofprivatecapital
(e)IndiasEconomyandDevelopmentIssues
1. Indiasexperimentationswithplanneddevelopmentmodelsandtheoutcomes,structuralissuessavingsandinvestment,demography,urbanization,productivity,
etc.,issueswithpoverty,inequalityandemployment
2. Agriculturepolicyanddevelopments,manufacturingcompetitivenesswhatisholdingIndiaback,roleofpublicsectorenterprisesinthekeyeconomicsectors,
Indiasresilientservicesectortrade,tourism,communication,ITES,etc.
3. Financial sector regulation and reformsbanking, insurance and capital market, fiscal policy and the changing priorities of government, emergence of monetary
policyanditsnewrole
Suggestedreferencematerial:
a. Microeconomics,StudentValueEdition(8thedition)byRobertPindyck,DanielRubinfeld
b. IntermediateMicroeconomics:AmodernApproach(8thedition)byHalR.Varian
c. Macroeconomics(2011)byRudigerDornbusch,StanleyFisher,RichardStarz
d. MacroeconomicsbyN.GregoryMankiw,(SeventhEdition),
e. InternationalEconomics(2013)byDomimickSalvatore
f. InternationalEconomics(2011)byPaulKrugmanandMauricsObstfeld
g. InternationalFinanceandOpenEconomyMacroeconomics(1993)byFranciscoL.RiveraBatiz,LuisA.RiveraBatiz
h. PublicFinanceinTheoryandPractice(1989)byRichardAbelMusgraveandPeggyB.Musgrave
i. TheConciseOxfordCompaniontoEconomicsinIndia,EditedbyKaushikBasu&AnnemieMaertens
j. IndianEconomysinceIndependence(2014)editedbyUmaKapila
k. IndianEconomy:PerformanceandPolicies(2015)editedbyUmaKapila
l. IndiaDevelopmentReport(2015)editedbyS.MahendraDev
5.Statistics:
(1) Probability: Random variables, Theorems of probability, Conditional probability, Independent events, Bayes' theorem and its application, expectation, moments,
distributionfunctions,Binomial,Poisson,Geometric,Exponential,Negativebinomial,Hypergeometric,Cauchy,Laplace,Logistic,Pareto,Lognormal,BetaandGamma
distributions,Weibull,Uniform,Bivariatenormaldistributionandtruncateddistributions,Markovsinequality,Chebyshevsinequality,CauchySchwarzinequality,Lawsof
largenumbers,Centrallimittheoremsandapplications.
(2) Statistical Methods: Population and sample, Measures of central tendencies Parameter and Statistic, Correlation and Regression, intraclass correlation, multiple
and partial correlations, Spearman's coefficient of rank correlation, Z, chisquare, t and F statistics and their properties and applications, Large sample distributions,
Variancestabilizingtransformations,sininverse,squareroot,logarithmicandztransformation.
(3)LinearModels:GeneralLinearmodels,BLUE,methodofleastsquares,GaussMarkofftheorem,estimationoferrorvariance,SimpleandMultiplelinearregression
models,Importantassumptionsandtreatmentsincaseofassumptionsviolation,Regressiondiagnostics,Analysisofvarianceinone,twoandthreewayclassifications,
AnalysisofCovarianceinoneandtwowayclassifications.
(4)StatisticalInference: Properties of estimators, MVUE, RaoBlackwell and LehmannScheffe theorems, CramerRao inequality, methods of estimation, properties of
maximumlikelihoodandotherestimators,confidenceintervals.Simpleandcompositehypotheses,TypeIandTypeIIerrors,sizeandpowerofatest,MostPowerful
andUniformlyMostPowerfultests,NeymanPearsonlemma,LikelihoodRatiotestanditspropertiesandapplications.SPRT,OCandASNfunctions,Testsofgoodness
offit.Parametricvs.NonparametricTest,Frequentlyusednonparametricinferentialstatisticalmethods.
(5) Multivariate Analysis: Bivariate and Multivariate normal distribution, marginal and conditional distribution, Estimation of mean vector and covariance matrix,
Asymptoticpropertiesofestimators,SamplingdistributionofXandS,MahalanobisD2andHotelling'sT2anditsapplications.
(6) Optimisation Techniques and Statistical Quality Control: Linear Programming, Transportation Problem, Assignment Problem, Basics of Simulation, Quality
control,ProcessControlandProductControl,controlcharts,AcceptanceSamplingplan,singleanddoublesamplingplans(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 Nonsampling errors. Principles of Design of Experiments, Completely Randomized Design, Randomized Block
Design, Latin Square Design, missing plot technique, 22 and 23 factorial designs, SplitPlot Design and Balanced Incomplete Block Design, Fractional factorial
experiments
(8) Applied Economic Statistics: Time Series vs. cross sectional data, Multiplicative and additive models, Autocorrelation, Partial autocorrelation, Smoothing
techniques,Seasonalandcyclicaladjustment.PriceandQuantityIndexnumbers,Typesofindexnumbersandtheirproperties.ChainandFixedbaseindexnumbers,
CostofLivingIndexnumbers,WholesalePriceIndex,ConsumerPriceIndex,IndexofIndustrialProduction,Giniscoefficient,Lorenzcurves,ApplicationofParetoand
Lognormalasincomedistributions.
(9)VitalStatistics:Sourcesofvitalstatisticscompilation,Errorsincensusandregistrationdata,Measurementofpopulation,rateandratioofvitalevents,Stationary
andStablepopulation,LifeTables,MeasuresofFertility,MortalityandReproduction,Cruderatesofnaturalgrowth,PearlsVitalIndex.
(10) Numerical Analysis: Principles of floating point computations and rounding errors, Linear Equations factorization methods, pivoting and scaling, residual error
correctionmethod,Iterativemethods,Jacobi,GaussSeidelmethods,NewtonandNewtonlikemethods,unconstrainedoptimization,Lagrangeinterpolationtechniques,
CubicSplines,Errorestimates,PolynomialsandleastsquaresapproximationIntegrationbyinterpolation,adaptivequadraturesandGaussmethods.
(11)BasicComputerApplications:Functionalorganizationofcomputers,algorithms,basicprogrammingconcepts,Programtestinganddebugging,Subprogramsand
Subroutines, Sorting/searching methods, Database Management Systems, Software Engineering, Basic of Networking, Internet Technologies, Web and HTML,
Distributedsystems,ProgrammingusingC,MINITABandFORTRAN.
Suggestedreferencematerial:

1. Atkinson,K.E.(1989):AnIntroductiontoNumericalAnalysis,Wiley.
2. Bhat,B.R.(2007):ModernProbabilityTheory,NewAgeInternational.
3. Cochran,WilliamG.(1977):SamplingTechniques.JohnWileyandSons,NewYork
Top

4. Das,M.N.andN.C.Giri(1986):DesignandAnalysisofExperiments.WileyEasternLtd.
5. Draper,N.R.andH.Smith(1998):AppliedRegressionAnalysis,JohnWiley&Sons.
6. Goon,A.M.,M.K.GuptaandB.Dasgupta(2001):FundamentalsofStatistics.(2Vols.),WorldPress,Kolkata.
7. Gibbons,J.D.&S.Chakrabarti(2007):NonparametricStatisticalInference,ChapmanandHall.
8. Gupta,S.C.andV.K.Kapoor(2007):FundamentalsofMathematicalStatistics,SultanChandandSons.
9. Gupta,S.C.andV.K.Kapoor(2008):FundamentalsofAppliedStatistics,SultanChandandSons.
10. HollanderMylesandDouglasA.Wolfe(2006):NonParametricStatisticalmethod,Wiley.
11. Kshirsagar,A.M.(1983):ACourseinLinearModelsMarcelDekker,NewYork.
12. Montgomery,D.C.(2008):DesignandAnalysisofExperiments,JohnWileyandSons.
13. Montgomery,D.C.,E.A.PeckandG.G.Vining(2006):IntroductiontoLinearRegressionAnalysis,JohnWileyandSons.
14. Murthy,M.N.(1967):SamplingTheoryandMethods.StatisticalPublishingSociety,Kolkata.
15. Rajaraman,V.(2010):FundamentalsofComputers,PrenticeHallIndia.
16. Rohatgi,V.K.andA.K.Md.EhsanesSaleh(2009):AnIntroductiontoProbabilityandStatistics,JohnWileyandSons.
17. Saxena,H.C.(2005):FiniteDifferencesandNumericalAnalysis,S.ChandandCo.
18. Silberschatz,A.,H.F.KorthandS.Sudarshan(1997):DatabaseSystemConcepts,McGrawHill.
19. Sinha,P.K.(2010):ComputerFundamentals,UniversitySciencePress.
20. Sukhatme,P.V.,B.V.Sukhatme,S.SukhatmeandC.Asok(1984):SamplingTheoryofSurveyswithApplications,IowaStateUniversityPress,Iowa,USA.
21. Swaroop,K.,P.K.GuptaandM.M.Singh(1985):OperationsResearch,SultanChandandSons.
22. Taha,H.A.(1982).OperationsResearch:AnIntroduction,MacmillanPublishingCompany.