Reserve Bank of India Services Board, Mumbai

Advt. No. 3A /2023-24

Paper II: Descriptive, to be typed with 90 3 100

English (Writing Skills) the help of the keyboard
Paper-III: 50% Objective Type 120 @ 50
General Finance and 50
Management 50% Descriptive Type, Total 100
answers to be typed with the
help of the keyboard.
Candidates opting to type the
answers in Hindi, may type with
the help of either: (i) Inscript or
(ii) Remington (GAIL)
keyboards layout.
@For both Paper I and III, there will be 30 questions and 50 marks for Objective questions (some
questions carrying 2 marks each and some carrying 1 mark each). In case of Descriptive questions,
6 questions will be asked, of which candidates will be required to attempt 4 questions (2 of 15
marks each (with difficulty level) and 2 of 10 marks each). In case, candidate answers more than 4
questions in descriptive, first 4 shall be evaluated.

NOTE: All question papers (in both the Phases, except the test of English) will be set bilingually in Hindi
and English.
The Board reserves the right to modify the exam dates and time entirely at its discretion.

(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 75 marks.

Candidate shall be required to undergo Personality Assessment conducted by the Bank before
appearing for the Interview, no marks will be allotted for the same, and will not form part of the
final selection criteria. 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 and grace marks as applicable as per extant rules.

SYLLABI (Phase-II)
Paper-I - Economic and Social Issues (ESI):
Growth and Development – Measurement of growth: National Income and per capita income – Poverty
Alleviation and Employment Generation in India – Sustainable Development and Environmental issues.
Indian Economy – Economic History of India - Changes in Industrial and Labour Policy, Monetary and
Fiscal Policy since reforms of 1991 – Priorities and recommendations of Economic Survey and Union
Budget – 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.
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;
International Economic Issues
Social Structure in India – Multiculturalism – Demographic Trends – Urbanisation and Migration –
Gender Issues – Social Justice

Suggested reference material:

• Books: Indian Economy: 1. Uma Kapila (series of books) 2. Indian Economy: Misra & Puri (Latest
Edition) 3. Growth and Development: Debraj Ray 4. Sociology: C.N. Shankar Rao 5. Public
Finance - K K Andley and Sundaram

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 Reserve Bank of India Services Board, Mumbai
Advt. No. 3A /2023-24

• Prominent Financial Newspapers

• Magazines/Periodicals/ Bulletins including RBI Bulletins, EPW, India Today, etc.
• Reports: 1. World Development Report 2. Economic Survey of India 3. RBI Annual Report 4.
Report on Trend and Progress of Banking in India, Report on Currency and Finance etc. 5. IMF:
World Economic Outlook
• Material sourced from RBI and BIS website

Paper-II -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.

Paper -III - General Finance and Management:

a) Financial System
1. Structure and Functions of Financial Institutions
2. Functions of Reserve Bank of India
3. Banking System in India – Structure and Developments, Financial Institutions – SIDBI, EXIM Bank,
NABARD, NHB, NaBFID etc.
4. Recent Developments in Global Financial System and its impact on Indian Financial System
5. Role of Information Technology in Banking and Finance
6. Non-Banking System
7. Developments in Digital Payments

b) Financial Markets
Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), functions, instruments, recent
developments.

c) General Topics
1. Financial Risk Management
2. Basics of Derivatives
3. Global financial markets and International Banking – broad trends and latest developments
4. Financial Inclusion
5. Alternate source of finance, private and social cost-benefit, Public-Private Partnership
6. Corporate Governance in Banking Sector
7. The Union Budget – Concepts, approach and broad trends
8. Basics of Accounting and Financial Statements - Balance Sheet, Profit and Loss, Cash Flow
Statements, Ratio Analysis (such as Debt to Equity, Debtor Days, Creditor Days, Inventory Turnover,
Return on Assets, Return on Equity, etc.)
9. Inflation: Definition, trends, estimates, consequences and remedies (control): WPI- CPI - components
and trends; striking a balance between inflation and growth through monetary and fiscal policies

Suggested reference material:

Finance

• Monetary Theory and Public Policy – Kenneth Kurihara

• Indian Economy – Mishra & Puri
• Economic Growth and Development – Mayer and Baldwin
• Financial Management – Prasanna Chandra
• Major financial newspapers
• International business by Hill and Jain
• RBI Annual Report, Report on Trend and Progress of Banking in India, Report on Currency and
Finance etc.

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 Reserve Bank of India Services Board, Mumbai
Advt. No. 3A /2023-24

• Economic Survey
• Material sourced from RBI website

d) 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 theory

Meaning & 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, Vrooms
expectancy theory).

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

• Ethics at the Workplace and Corporate Governance:

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, Human Resources,
Marketing, etc. Ethical Principles in Business: introduction, Organization Structure and Ethics, Role of
Board of Directors, Best Practices in Ethics Programme, Code of Ethics, Code of Conduct, etc.

Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate

Governance

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.

Suggested reference material:

Management

• Stephen P. Robbins & Mary Coulter, Management.

• Stephen P. Robbins and Judge T.A., Vohra, Organisational Behaviour
• Dessler Gary, Warkkey Biju- Human Resource Management
• Decenzo and Robbins- Fundamentals of Human Resource Management
• Velasquez Manuel G: Business Ethics- Concepts and Cases.
• Fernando A.C.: Business Ethics – An Indian Perspective.
• Crane Andrew & Matten Dirk: Business Ethics
• Ghosh B N: Business Ethics & Corporate Governance

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