RBI Grade B Recruitment 2021- 322 Posts | Apply today!

RBI Grade B Recruitment 2021- 322 Posts, Eligibility, Selection Process, Educational Qualification and Full Notification. Reserve Bank of India invites online applications from eligible candidates for the posts of Officers in Grade B in Department of Statistics and Information, Department of Economic and Policy Research, and General Department.

Candidates who are eligible and interested to apply and meets all educational and physical eligibility criteria can read the full notification before applying online or offline as the case may be and download admit card and results

Important Dates RBI Grade B Recruitment 2021

Notification No.01/2020-21
Start of Online Application28-01-2021
Last Date of Online Application15-02-2021
Last date of payment of fees15-02-2021
Officer Grade B (General) Phase – I & DEPR/DSIM Paper-I Examination06-03-2021
Officer Grade B DEPR/DSIM Paper-II & Paper-II Examination31-03-2021
Officer Grade B (General) Phase-II Examination01-04-2021

Vacancy DetailsRBI Grade B Recruitment 2021

Officer in Grade B (DR) – General270
Officer in Grade B (DR) – DEPR*29
Officer in Grade B (DR) – DSIM#23
* Department of Economics and Policy Research #Department of Statistics and Information Management

Pay Scale

The Pay Scale for the RBI grade B Officer is Rs. 35150-1750(9)-50900-EB-1750(2)-54400-2000(4)-62400.

  • DA (113% of the basic salary) , HRA (up to Rs 70,000), Conveyance Allowance (150 Liters of fuel/month) etc. are additional

Essential Qualification RBI Grade B Recruitment 2021

  • The candidate must be a citizen of India OR
  • A subject of Nepal OR
  • A subject of Bhutan OR
  • A Tibetan Refugee who came to India before 1st January 1962 who has the intention of settling permanently in India OR
  • A person of Indian origin migrated from Pakistan, Burma, Sri Lanka, East African countries of Kenya, the United Republic of Tanzania (formerly Tanganyika and Zanzibar), Uganda, Zambia, Malawi, Zaire, Ethiopia and Vietnam with the intention of permanently settling in India.

Educational Qualification RBI Grade B Recruitment 2021

The required educational qualifications for the posts advertised are as follows:

PostMinimum Educational Qualifications
Officer in Grade B (DR) – General> A minimum of 60% marks or an equivalent grade in Bachelor’s degree as well as in 12th/Diploma/equivalent and 10th Standard examinations. (50% in case of SC/ST/PwBD)
> The minimum qualifying percentage or an equivalent grade for the Bachelor’s degree should be in aggregate for all semesters/years.
Officer in Grade B (DR) – DEPR> A Master’s Degree with a minimum of 55% marks or an equivalent grade in aggregate of all semesters /years from a recognised Indian or Foreign University /Institute in any one of the subjects of Economics / Econometrics / Quantitative Economics / Mathematical Economics / Integrated Economics Course/ Finance,
>PGDM/ MBA Finance with a minimum of 55% marks or an equivalent grade in aggregate of all semesters /years from a recognised Indian or Foreign University /Institute,
>Master’s Degree in Economics with a minimum of 55% marks or an equivalent grade in aggregate of all semesters /years from a recognised Indian or Foreign University /Institute in any of the sub-categories of economics i.e. agricultural/ business/ developmental/ applied, etc.,
Officer in Grade B (DR) – DSIM> A Master’s Degree in Statistics/ Mathematical Statistics/ Mathematical Economics/ Econometrics/ Statistics & Informatics from IIT-Kharagpur/ Applied Statistics & Informatics from IIT-Bombay. The minimum marks secured should be 55% or equivalent grade in aggregate of all semesters/years.
> Master’s Degree in Mathematics with a minimum of 55% marks or an equivalent grade in aggregate of all semesters/years and one-year PG diploma in Statistics or related subjects from an Institute of repute;
> M. Stat. Degree of Indian Statistical Institute, Kolkata with a minimum of 55% marks in aggregate of all semesters/years
> Post Graduate Diploma in Business Analytics (PGDBA) jointly offered by ISI Kolkata, IIT Kharagpur and IIM Calcutta. The minimum marks secured should be 55% or equivalent grade in aggregate of all semesters/years.

Age Limit

Minimum AgeMaximum Age
21 Years30 Years

Age Relaxation

CategoryAge relaxation
SC/ST5 years
OBC3 years
Divyang10 years
Divyang + OBC13 years
Divyang + SC/ST15 years
  • For M. Phil and Ph. D candidates the upper age limit will be 32 and 34 years, respectively.
  • The maximum age limit is 33 years for candidates having experience as an officer in Commercial Bank/ Financial Institution in Public Sector and candidates with prior experience in Reserve Bank of India,

Examination Pattern for RBI Group B Recruitment

(i) Examination will consist of two phases, viz. – Phase-I & Phase-II followed by interview.

(ii) Phase-I Examination (200 marks) will be objective type with Multiple Choice Questions (MCQs). The Phase-I Exam would be of 2 hours. There are four modules

  • General Awareness,
  • English Language,
  • Quantitative Aptitude and
  • Reasoning.

(iii) Phase-II Examination (Three Papers – 300 marks) examinations will consist of three papers in MCQ pattern (except Paper-I)

  • Paper-I on English- writing skills (1½ hours – 100 marks )
  • Paper-II – Economic & Social Issues and (1½ hours – 100 marks )
  • Paper-III – (optional subjects) – Finance & Management/ Economics/ Statistics. (1½ hours – 100 marks )

(iv) Candidates will be required to write all the papers online.

(v) Only successful candidates of Phase-I will appear for Phase-II examination on a later date.

(vi) Based on the results of Phase-II examinations candidates will be shortlisted for interview of 50 marks.

(vii) Final selection will be through merit lists which will be prepared by adding marks secured by candidates in Phase-II (Paper-I + Paper-II + Paper-III) and Interview.

RBI Grade B Notification 2021 Syllabi

1. 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.

2. Economic and Social Issues:

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. 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. Social Structure in India – Multiculturalism – Demographic Trends – Urbanization and Migration – Gender Issues – Social Justice : Positive Discrimination in favor of the under privileged – Social Movements – Indian Political System – Human Development – Social Sectors in India, Health and Education.

Suggested reference material:

Indian Economy: Uma Kapila.(Series of Books)
Indian Economy: Mishra Puri. (Latest Edition)
Growth And Development: Devraj Ray
Sociology: C.N. Shankar Rao
News Papers
Economic Times
Business Standard
Weekly/Monthly Magazines/Bulletins /Reports
Economic and Political Weekly
Southern Economist
Business India
RBI Bulletins
World Development Report
Economic Survey of India

3. Finance and Management:

(A) Finance

(a) Financial System

  1. Regulators of Banks and Financial Institutions
  2. Reserve Bank of India- functions and conduct of monetary policy, Banking System in India, Financial Institutions – SIDBI, EXIM, NABARD, NHB, etc.

(b) Financial Markets

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

(c) General Topics

  1. Risk Management in Banking Sector
  2. Basics of Derivatives: Forward, Futures and Swap
  3. Changing Landscape of Banking sector
  4. Recent Developments in the Financial Sector, Portfolio Investment, Public Sector Reforms, Disinvestments
  5. Financial Inclusion- use of technology
  6. Alternate source of finance, private and social cost-benefit, Public-Private Partnership
  7. Corporate Governance in Banking Sector, role of e-governance in addressing the issues of corruption and inefficiency in the government sector.
  8. The Union Budget – Direct and Indirect taxes; Non-tax sources of Revenue, GST, Thirteenth Finance Commission and GST, Finance Commission, Fiscal Policy, Fiscal Responsibility and Budget Management Act (FRBM),
  9. Inflation: Definition, trends, estimates, consequences, and remedies (control): WPI, CPI – components and trends.

Suggested reference material:

An introduction to Economics – A W Stonier and D C Hauge
Monetary Theory and Public Policy – Kenneth Kurihara
Indian Economy – Mishra and Puri
Indian Economy – R. Dutt and KPM Sundaram
Economic Growth and Development – Mayer and Baldwin
Major economic newspapers and Economic and Political Weekly
Public Finance – K K Andley and Sundaram
Financial Management – Prasanna Chandra

(B) Management:

Management: its nature and scope; The Management Processes; Planning, Organisation, Staffing, Directing and Controlling; The Role of a Manager in an Organisation. Leadership: The Tasks of a Leader; Leadership Styles; Leadership Theories; A successful Leader versus an effective Leader. Human Resource Development: 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 non-verbal Communication; upward, downward and lateral communication; Barriers to Communication, Role of Information Technology. Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate Governance.

The questions on this section will be basic in nature.

4. Economics

(a) Microeconomics

  1. Consumers behaviour and firms; value of resources like land, labour and capital
  2. Markets-monopoly, perfect and imperfect competition
  3. General Equilibrium of price and activity, economic welfare and case for regulatory / policy interventions

(b) Macroeconomics

  1. Measuring national income and its components; basic macro identities and idea of macro-balance; Goods and Financial Market Equilibrium (IS-LM Framework)
  2. Major macro-economic school of thoughts; Classical, Keynesian and Monetarist
  3. Consumption and Investment demand; demand management policies and their effectiveness
  4. Money demand and supply; monetary and fiscal policies

(c) International Economics

  1. Benefit of International trade; comparative and absolute advantage; effect of International trade on resources allocation and factor price equalisation; non-conventional trade barriers, optimum currency areas and effect of customs union
  2. International finance and exchange rates issues in an open economy, benefits and costs of an inter-connected financial markets; evolution of international financial architecture

(d) Public Economics

  1. Public Goods, instruments of financing, government tax and non-tax revenue
  2. Direct and Indirect taxes, efficiency costs of commodity taxes, income taxation, labour supply and savings, corporate taxation and corporate behaviour
  3. Government expenditure policy-various components, deficit financing and its impact on the economy, government debt and crowding out of private capital

(e) India’s Economy and Development Issues

  1. India’s experimentations with planned development models and the outcomes, structural issues-savings and investment, demography, urbanization, productivity, etc., issues with poverty, inequality and employment
  2. Agriculture- policy and developments, manufacturing competitiveness; what is holding India back, role of public sector enterprises in the key economic sectors, India’s resilient service sector; trade, tourism, communication, ITES, etc.
  3. Financial sector regulation and reforms-banking, insurance and capital market, fiscal policy and the changing priorities of government, emergence of monetary policy and its new role

Suggested reference material:

Microeconomics, Student Value Edition (8th edition) by Robert Pindyck, Daniel Rubinfeld
Intermediate Microeconomics: A Modern Approach (8th edition) by Hal R. Varian
Macroeconomics (2011) by Rudiger Dornbusch, Stanley Fisher, Richard Starz
Macroeconomics by N. Gregory Mankiw, (Seventh Edition),
International Economics (2013) by Dominick Salvatore
International Economics (2011) by Paul Krugman and Maurics Obstfeld
International Finance and Open-Economy Macroeconomics (1993) by Francisco L. Rivera- Batiz, Luis A. Rivera- Batiz
Public Finance in Theory and Practice (1989) by Richard Abel Musgrave and Peggy B. Musgrave
The Concise Oxford Companion to Economics in India, Edited by Kaushik Basu & Annemie Maertens
Indian Economy since Independence (2014) edited by Uma Kapila
Indian Economy: Performance and Policies (2015) edited by Uma Kapila
India Development Report (2015) edited by S. Mahendra Dev

5. Statistics:

(1) Probability: Random variables, Theorems of probability, Conditional probability, Independent events, Bayes’ theorem and its application, expectation, moments, distribution functions, Binomial, Poisson, Geometric, Exponential, Negative binomial, Hyper geometric, Cauchy, Laplace, Logistic, Pareto, Log-normal, Beta and Gamma distributions, Weibull, Uniform, Bivariate normal distribution and truncated distributions, Markov’s inequality, Chebyshev’s inequality, Cauchy-Schwarz inequality, Laws of large numbers, Central limit theorems and applications.

(2) Statistical Methods: Population and sample, Measures of central tendencies Parameter and Statistic, Correlation and Regression, intra-class correlation, multiple and partial correlations, Spearman’s coefficient of rank correlation, Z, chi-square, t and F statistics and their properties and applications, Large sample distributions, Variance stabilizing transformations, sin inverse, square root, logarithmic and z transformation.

(3) Linear Models: General Linear models, BLUE, method of least squares, Gauss-Markoff theorem, estimation of error variance, Simple and Multiple linear regression models, Important assumptions and treatments in case of assumption’s violation, Regression diagnostics, Analysis of variance in one, two and three-way classifications, Analysis of Covariance in one and two-way classifications.

(4) Statistical Inference: Properties of estimators, MVUE, Rao-Blackwell and Lehmann-Scheffe theorems, Cramer-Rao inequality, methods of estimation, properties of maximum likelihood and other estimators, confidence intervals. Simple and composite hypotheses, Type I and Type II errors, size and power of a test, Most Powerful and Uniformly Most Powerful tests, Neyman-Pearson lemma, Likelihood Ratio test and its properties and applications. SPRT, OC and ASN functions, Tests of goodness of fit. Parametric vs. Non-parametric Test, Frequently-used non-parametric inferential statistical methods.

(5) Multivariate Analysis: Bivariate and Multivariate normal distribution, marginal and conditional distribution, Estimation of mean vector and covariance matrix, Asymptotic properties of estimators, Sampling distribution of X and S, Mahalanobis D2 and Hotelling’s T2 and its applications.

(6) Optimisation Techniques and Statistical Quality Control: Linear Programming, Transportation Problem, Assignment Problem, Basics of Simulation, Quality control, Process Control and Product Control, control charts, Acceptance Sampling plan, single and double sampling plans (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 Non-sampling errors. Principles of Design of Experiments, Completely Randomized Design, Randomized Block Design, Latin Square Design, missing plot technique, 22 and 23 factorial designs, Split-Plot Design and Balanced Incomplete Block Design, Fractional factorial experiments

(8) Applied Economic Statistics: Time Series vs. cross sectional data, Multiplicative and additive models, Auto-correlation, Partial autocorrelation, Smoothing techniques, Seasonal and cyclical adjustment. Price and Quantity Index numbers, Types of index numbers and their properties. Chain and Fixed base index numbers, Cost of Living Index numbers, Wholesale Price Index, Consumer Price Index, Index of Industrial Production, Gini’s coefficient, Lorenz curves, Application of Pareto and Lognormal as income distributions.

(9) Vital Statistics: Sources of vital statistics compilation, Errors in census and registration data, Measurement of population, rate and ratio of vital events, Stationary and Stable population, Life Tables, Measures of Fertility, Mortality and Reproduction, Crude rates of natural growth, Pearl’s Vital Index.

(10) Numerical Analysis: Principles of floating point computations and rounding errors, Linear Equations factorization methods, pivoting and scaling, residual error correction method, Iterative methods, Jacobi, Gauss-Seidel methods, Newton and Newton like methods, unconstrained optimization, Lagrange interpolation techniques, Cubic Splines, Error estimates, Polynomials and least squares approximation; Integration by interpolation, adaptive quadratures and Gauss methods.

(11) Basic Computer Applications: Functional organization of computers, algorithms, basic programming concepts, Program testing and debugging, Subprograms and Subroutines, Sorting/searching methods, Database Management Systems, Software Engineering, Basic of Networking, Internet Technologies, Web and HTML, Distributed systems, Programming using C, MINITAB and FORTRAN.

Suggested reference material:

Atkinson, K.E. (1989): An Introduction to Numerical Analysis, Wiley.
Bhat, B.R. (2007): Modern Probability Theory, New Age International.
Cochran, William G. (1977): Sampling Techniques. John Wiley and Sons, New York
Das, M.N. and N. C. Giri (1986): Design and Analysis of Experiments. Wiley Eastern Ltd.
Draper, N.R. and H. Smith (1998): Applied Regression Analysis, John Wiley & Sons.
Goon, A.M., M. K. Gupta and B. Dasgupta (2001): Fundamentals of Statistics. (2 Vols.), World Press, Kolkata.
Gibbons, J.D. & S. Chakrabarti (2007): Non-parametric Statistical Inference, Chapman and Hall.
Gupta, S.C. and V. K. Kapoor (2007): Fundamentals of Mathematical Statistics, Sultan Chand and Sons.
Gupta, S.C. and V. K. Kapoor (2008): Fundamentals of Applied Statistics, Sultan Chand and Sons.
Hollander Myles and Douglas A. Wolfe (2006): Non-Parametric Statistical method, Wiley.
Kshirsagar, A.M. (1983): A Course in Linear Models Marcel Dekker, New York.
Montgomery, D. C. (2008): Design and Analysis of Experiments, John Wiley and Sons.
Montgomery, D.C., E. A. Peck and G. G. Vining(2006): Introduction to Linear Regression Analysis, John Wiley and Sons.
Murthy, M.N. (1967): Sampling Theory and Methods. Statistical Publishing Society, Kolkata.
Rajaraman, V. (2010): Fundamentals of Computers, Prentice-Hall India.
Rohatgi, V. K. and A. K. Md. Ehsanes Saleh (2009): An Introduction to Probability and Statistics, John Wiley and Sons.
Saxena, H.C. (2005): Finite Differences and Numerical Analysis, S. Chand and Co.
Silberschatz, A., H. F. Korth and S. Sudarshan (1997): Database System Concepts, McGraw-Hill.
Sinha, P.K. (2010): Computer Fundamentals, University Science Press.
Sukhatme, P.V., B. V. Sukhatme, S. Sukhatme and C. Asok (1984): Sampling Theory of Surveys with Applications, Iowa State University Press, Iowa, USA.
Swaroop, K., P. K. Gupta and M. M. Singh (1985): Operations Research, Sultan Chand and Sons.
Taha, H.A. (1982). Operations Research: An Introduction, Macmillan Publishing Company.


Application Fees

The fees has to be paid through online mode only. Once paid the fee is non-refundable.

CategoryApplication Fee
General and OBCRs.850/- (Exam + Intimation Fees)
SC/ST/DivyangRs.100/- (Intimation fees only)
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