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How I scored 43 out of 50 in the RBI Grade B Interview

by | Dec 6, 2019 | RBI GRADE B

Standing in front of the massive Reserve Bank of India Office in Chennai is a truly humbling experience. You see the monochromatic behemoth and think to yourself, “What must it feel like to work inside this place?” This place, where countless policies of national importance have been dissected, where the finest minds of the country have charted out the economic & financial roadmap for the largest democracy in the world. Where the dreams of 1.3 Billion people must be nurtured and empowered so that they may realize their hopes and dreams. These were among the thoughts racing through my mind as I stood before this building on the cool, sunny morning of January 22, 2019. I took a deep breath and with a mix of adrenaline and trepidation, walked into the premises. I did not know then that the next few hours would enrich me with the experience of a lifetime. 

First Impressions

I had reached Chennai (from my workplace in Karnataka) 3 days earlier and put up at a nearby hotel. I didn’t want to take any chances and be acclimatized to the city. Till 2017 RBI had been conducting interviews in each state Regional Office but due to certain complications stemming from a court case the 2018 exam was already delayed by quite a bit. I reckon that’s why they held interviews only in the 4 metros in 2018, all candidates from the southern states were called to Chennai. It’s noteworthy to remember that only 1 Panel conducts all interviews for RBI Grade B and the decision to narrow down the number of cities cut down on wasted travel time. The RBI Regional Office in Chennai is at Rajaji Salai near the Chennai Port. The security detail inside was quite impressive and all of the interviewee’s were handed Visitor passes to gain access to the main building. As we wove our way into the building through multiple metal detectors I met a couple of guys that I recognized from the Telegram interview group that had been kindly formed by one of the aspirants (it was extremely helpful). All of the men were in suits with the women in formal dresses/suits. On the way we passed by the Financial Gallery that had been inaugurated by Dr. Raghuram Rajan himself. The beauty and grandeur of the place can hardly be overstated.

RBI Grade B Chennai Financial Gallery

The Financial Gallery, inaugurated by the man who inspired countless youngsters to pursue a career at RBI

 

Inside RBI Chennai

We were led up to the 3rd Floor and into a spacious Conference Room (see Floor Plan below) with a big RBI logo emblazoned on the wall. A young RBI employee (Assistant) and another older gentleman (Grade C Officer) informed us that the interviews would start at 9:30 AM. We were allowed to walk in the corridors and saw the RBI logo displayed prominently everywhere. It was clear to us that the people working there had immense pride for the organization. Tea was served and we were provided with multiple financial newspapers. We scoured each one for the top news items- China’s growth slowdown to 6.6% (lowest in over 28 years), May’s new Brexit deal with 3 sweeteners, the government’s propping up of NITI Aayog to set drug prices instead of the NPPA, IDBI insurance JV Stake sale etc. etc. We were then called for the biometrics & document verification one by one. Immediately after these were done the interviews began. We were handed the list and I noticed that I was to be the 10th out of 15 people to be interviewed that day (we were assured that marks didn’t play a part in the order of our interviews).

Supriyo Panda RBI Grade B Interview Floor Layout

Floor Plan (3rd Floor)

Biometrics & Document Verification

Soon thereafter I was called for biometric verification. I went into the main waiting area through a big door made out of glossy, varnished wood (picture below). With ornate paintings & exquisite furnishings the place looked more like the lobby of a 5 Star hotel. Biometrics turned out to be a tricky affair for me with the TCS guy being unable to authenticate my finger print. I remembered that during Mains they had used a different device so when I suggested that he swapped out the old device for the new one and I got a perfect match. Phew! Soon I headed into doc verification that was being handled by a kind and aged lady. She was quite senior but had no airs about her. The process was completed without any hitch and she was patient and helpful with some candidates who had a few issues with their docs. However she reminded all of us that there was an ongoing court case in Delhi High Court and our final results would be subject to the verdict of the same. 

Supriyo Panda RBI Grade B Main Waiting area

Varnished door leading into the Main Waiting Area

The waiting game

We were struck by the politeness and grace with which we were treated. It was the first RBI interview for almost all of us and we had been sufficiently wowed by the aura of the place. It was like being on hallowed ground. Finally, the interviews began and one by one each candidate was called in. After months and years of preparation it was finally down to this. The relief on the faces of those who completed and walked out was palpable. Every person who came out of the room was hounded by questions from the others & everyone said the same thing: “Interview was OK”. Some were kind enough to tell us the exact questions they were asked- What is the current global growth rate? American growth rate? Top 3 developmental challenges in India? It was clear that questions were based on the profile of each person and were pretty unique. Finally, my name was called out.

I adjusted my suit and tie and walked out. My adrenaline was too high to sit on the sofas so I just stood there admiring the ornate grandfather clock. The watch showed 12:30 PM. The door opened and the last candidate gave me a smile as he walked out. The door was shut again. A few moments passed. The guard at the door gestured to me to wait. After what felt like an eternity the bell at the door sounded gently. The doorman nodded to me. I walked to the door and opened it with a smile. Showtime.

Supriyo Panda RBI Grade B Interview Room Layout

The Interview

The Panel comprised of 4 members (3 gentlemen – M1, M2 & M3 and 1 lady – F1). All of them were high level executives with the Chairman Shri. Amitabh Rajan heading the panel in the capacity of the Chairman of the RBI Services Board (RBISB). He was the retired Chief Secretary of Maharashtra. Later we found that some of the other panel members had served in various Boards and were highly respected dignitaries.

I walked in with (I hope) a confident demeanor and wished “Good afternoon”  to each member.

M1 asked me to sit in a small chair directly opposite him. I thanked him and moved to the seat. 4 pairs of eyes pored into me and there was no furniture between me and the Panel. They could analyze my entire posture. No hiding.

As soon as I sat down it began.

M1: “You graduated in which stream?”

“Electrical Engineering sir.”

M1: “What were you doing since 2013?”

“I graduated in 2013 and got placed in TCS via the on campus drive. I worked there for 2.5 years and then resigned to join SBI where I have been working as a Probationary Officer for the past 2 years.”

M1: “Are you under training now? Is training over? What do you do in SBI?”

“Sir it got over last month and I’m a confirmed officer now but I am yet to get my next assignment. The SBI PO training covers a whole range of functions holistically over 2 years. I got an opportunity to work in operations for most of it but was exposed to personal segment advances at the fag end of the last year. I try to do the best in the role offered to me to create value in the bank.”

M1: “I am going to give you a topic and you have to speak on it for about 3 minutes. I want to see how you speak, your expressions, clarity of thought and understanding of the topic. The topic is why do you think SBI is lagging behind in customer service? There are a lot of complaints on customer deficiency at SBI, discuss & critically examine the issue in detail.”

“SBI is India’s largest bank and we have the largest deposit base of 42.42 crore customers and also the highest advances portfolio of about 28 crores. I agree that there are a lot of complaints on SBI customer service but this has to be seen in the context of our coverage. SBI is focused not only on being profitable but we have a considerable social mandate. The needs of customer service vary according to regions and the mindset of the customer. The modern definition of customer service has been seized upon by private banks which are more nimble and agile, however SBI has also made great strides. We were deemed to be an elephant but since Smt. Arundhati Bhatacharya’s term the bank has transformed and evolved. We have become much more customer centric. Shri Rajnish Kumar has carried forward the reforms and rolled out new Mission, Vision & Values for the bank. Our outlook is now to be the bank for a new and transforming India. While on the one hand SBI had the most number of banking ombudsman cases filed against it on an absolute basis, as a percentage of the total customers the number is much smaller. Also, SBI has done the most for financial inclusion which attests to the needs of every customer being attended to. We give loans to the biggest corporates and also attend to the LTI customers. I agree there is a lot more that can be done but we have made great strides in attending to every customer’s need.”

(On hindsight I should have started with what is customer service? Lets define it… what it is to a poor man and rich man… how serving customers differs from villages to the cities as expectations change- etc. etc. and then gone on. I didn’t elaborate on that fact, it could have been more interesting. Only afterwards did I realize that what I said was very traditional…)

Supriyo Panda RBI Grade B Conference Room

M2: “Is there any regulatory body which oversees the customer centricity of banks and lays down guidelines that each bank must adhere to? What is the name of that body?”

“Yes Sir it’s the BCSBI, Banking Codes & Standards Board of India.” (Chairman maintained his poker face as M2 took over and started to drive the questioning)

M2: “Is it mandatory for banks?”

“No sir, it’s a purely voluntary code”

M2: “Yes. Do you know about the report published by this body?”

“Sir I am aware of it but haven’t gone through the report.”

M2: “It states that your bank is one of the worst when it comes to serving customers. You put across the case for your bank, but why do you think your bank is unable to excel in customer service?”

(The Chairman was looking straight at me so I figured now is the time to impress him, I’d seen a YouTube speech of his and so decided to bring that reference in)

“Sir, I’ve seen a speech by honourable Chairman sir where he speaks about how Gandhiji advocated for the fact that we must not be sanitary inspectors or lobbyists so I would like to neutrally explain this situation…”

(As soon as I mentioned this the Chairman’s eyes lit up and he seemed to be momentarily shocked! He looked around at others in the panel and they all exchanged glances- don’t know if this was negative or a positive…on hindsight I still don’t know if I should have taken that risk. Was it really worth doing or did the old people think I was being oversmart?)

(I continued) “…SBI faces a lot of big challenges, one of them is the slow adoption of digital modes of transactions. SBI was late to the party, although now there is a huge push to redirect the customers towards alternate channels. Also, SBI is now leveraging big data which it earlier didn’t do, it can help to streamline many issues. As per a Joint Parliamentary Committee report released a few days back the PSBs are suffering from a lack of manpower. By 2019-20 we are expecting over 50,000 retirements at SBI but the pace of hiring has not kept up leading to a shortage of manpower. Many branches are understaffed and this has led to a considerable problem in customer-”

M2 (cutting me off): “I do not buy your argument about lack of manpower. There are other reasons; we get far too many complaints since a long time about SBI staff behaviour.”

(Wow! He just refuted a JPC report! Bitter pill of truth? I was a bit taken aback and felt attacked. He was trying to make me fold. I kept my composure and went ahead.)

“Sir, sometimes it is also down to the fact that we are unable to spread awareness amongst the customers about our products. We have something called the CMS wherein any customer can go online and lodge a complaint if he doesn’t get the requisite service and such complaints are given top priority.”

M2: “It is not just about customers but your staff is also not knowing about many things.”

(There was no point debating this statement, he had me there.)

I nodded. “Yes Sir, sometimes the branch level staff is unaware of latest developments.”

M2 (immediately, without acknowledging my last answer): “You spoke about Banking Ombudsman. Do you know about a similar arrangement like this at the bank level?” 

(Damn… what was he talking about? I had no clue!)

“Sir, the customer can approach the Manager and then he can write to the Regional Office.”

M2: “No, I’m talking about something else. Do you know about the Internal Ombudsman scheme?”

(Shit! I remembered reading about the scheme long back but didn’t remember details now…)

“Yes Sir.”

 M2: Do you implement it at your branch?

“Yes Sir.”

M2: “How does it work?”

“Sir, if the customer is not satisfied he can approach the internal ombudsman.”

 M2: “Is he the first point of contact?”

“No, he can approach the Branch Manager and-”

M2 (cutting me off again): “The staff needs to forward it to Internal Ombudsman, not the customer. I wanted to see whether SBI branch staff is aware of these things but it appears that they are not.”

“Sorry Sir, I was not aware of this fact.”

(Savage! He totally called my bluff & burnt me. This is why total honesty is paramount infront of the Panel- they are way too experienced to be beguiled by anybody. In September 2018 RBI had come out with the Internal Ombudsman scheme for all banks with >10 branches. Later I found it in my Phase 2 notes & regretted not having revised that. Do not make that mistake and revise your Phase 2 notes properly!)

M2: “Your bank is coming up with new things to attract customers, they launched a new app isn’t it?”

“Yes Sir, the YONO App. It has recently crossed 10 million downloads.”

M2: “Yes, but those are frontend. What are they doing to actually improve service inside the bank?”

(I was sick and tired of this topic but it just wouldn’t end!)

“Sir, at the branch level-”

M2 (shutting me down yet again): “Tell me w.r.t bank level not branch level”

(But isn’t it the branches that make up the bank?! The constant interruption to my train of thought was getting bothersome but I told myself that he was acting out the bad cop routine. I could not get agitated or riled up. I had to remain calm)

“Sir at the bank level we take care of the operational risk parameters to ensure a smooth service delivery. There is the ICAAP (Internal Capital Adequacy Assessment Process) as per Basel norms and also the RBI’s CRILC ( Central Repository of Information on Large Credits)”

M2 : “No, you are going to regulatory level. Think about customer facing aspect of it.”

(I started to speak but now the Chairman M1 chimed in, not to ask anything but to actually restate the things M2 had already touched upon. It seemed he was bored of the topic as well!)

M1: “There is an inherent lack of processes in PSBs, they don’t follow proper systems. The staff is also not aware of latest guidelines especially from regulator. (He motioned to F1 to take over the questioning)”

Supriyo Panda RBI Grade B Banking Hall

F1: “You mentioned in your biodata that you like reading books. What is the last book you have read?”

“I do what I do by Dr. Raghuram Rajan.”

(Everyone started laughing and exchanged amused glances. It felt like I had inadvertently cracked a joke!)

M1: “Arre, everyone is parroting the name of the same book, it’s the safest answer isn’t it?”

(Ugh. That was pretty rude- How was I supposed to know that others had named the same book!)

F1: “No, tell me name of some other book you read.”

“The Undercover Economist by Tim Harford.”

F1: “What did you learn from it?”

“For me as a non-commerce student, the book was a revelation of sorts. It is directed to the lay person and explains in detail how economics affects our everyday lives. It talks about scarcity power and how places like Times Square in New York or the London Tube can fetch exorbitant rents. The author explains how supermarkets place items on shelves strategically using behavioural economics to derive maximum profit from each individual who walks into the place. It analyzes perfect markets using Game Theory. It also talks about spectrum auction economics & how China grew so fast in so little time. On a broader aspect it talks about why countries are poor and why developed economies have democracies. The book made me passionate about economics.”

F1: “So are you fully focused on RBI? Will you stay or pursue other things?”

“Ma’am, it is my dream to work in RBI. If you allow I would like to tell you why I became so fascinated with central banking.”

(She nodded, so I went on. Everyone was looking at me keenly, my statement had piqued their interest)

“When I was working in TCS my clients were AIG, the American Insurer. We had the job of doing SCRs (Software Change Requests) for their website. In late 2013 we found that the documentations for each SCR increased tremendously. They introduced something called “Fed docs” that we had to fill up and present for each SCR, it became unbearable. I asked my Account Manager and others but no one could tell me why we had to follow this new, hectic system. It was then that I independently researched and found that AIG had been added to the list of SIFIs – Systemically Important Financial Institutions – AIG’s SII status was deemed by IAIS under the aegis of the Federal Reserve because of issues stemming from the 2008 GFC. I had an epiphany as I realized how Central Banking can impact lives, not just in 1 country but even halfway across the world. I read up about AIG’s role in the GFC, how it got an American taxpayer bailout and was rescued by the legendary CEO Bob Benmosche. At the time I was working in TCS the activist investors Carl Icahn and John Paulson had hijacked seats on the board and the current CEO Peter Hancock was wrestling with them to stop them from tearing the company into 3 pieces to remove the SIFI tag (In 2017 AIG finally lost the SIFI tag). Reading about these things I developed an interest in economics and finance and I left my job to join the financial sector with SBI. My ultimate dream was always to work at a Central Bank so I want to join RBI and add value to this esteemed organization.”

(Madam had a big smile on her face as I ended, the others appeared unmoved. The Chairman motioned to M3)

Supriyo Panda RBI Grade B Deaprtments

M3 (had been a silent spectator till this point): “You mentioned you are interested in economics, can you tell me why it is that countries with a lot of natural resources are found to be less developed than countries that don’t have those resources?”

“Sir, it is a classic case of the Resource Curse. It has been seen historically across the world that countries which are well endowed with natural resources see a lower level of development, lesser democracy and many other problems. It is due to these countries becoming too dependent on their 1 resource that they enjoy. It is also called the Dutch disease. Too much foreign funds flow into the country and it leads to inherent instability as seen in various crises. Countries with high resources tend to become rent-seeking economies instead of value creation economies. This is why Venezuela had its downfall as the high social spending programs of Hugo Chavez collapsed when oil prices fell causing a severe recession in the country with over 1 million % inflation. However, as we see in the case of Saudi Arabia if a country chooses it can make this curse a boon by divesting away from the primary resource like the Saudis are attempting to do now with the Vision Fund. So proper economic management is important.”

M3: “There is 1 more reason but OK.”

(I was confused when he said that. Perhaps he intended for me to dwelve deep into the forex issue and how high inflows can lead to a 1997 East Asian Crisis kind of situation?)

M3: “There is a mandate of the RBI that each bank must follow regarding customer service, it is prepared by regulator and banks need to design policies about it. Can you tell me what I am talking about?”

Sir, is it the Charter of Customer Rights?

M3: “Yes. Tell me each Right.”

“There are 5 Rights but I don’t remember them exactly right now.”

M3: “It’s ok, you can guess. What does the customer need? Think on that and answer.”

“There is a Right to Privacy, Right to Fair Treatment… Sorry sir, I can’t recollect the others.”

M3: “Ok, do you know there is something called the Right to Suitability? What is it?”

“Sir, this Right basically underscores the fiduciary responsibility of the bank towards the customer. So if a customer approaches the bank for a product the bank must look into the customer’s exact needs and find a suitable product for the same. The decision of which product to sell should not be based on how much profit or commissions the bank gets from the same, but on what product will serve the customer’s current requirement.”

M1: “Ok, you may go.”

(I stood up and looked around at each member & said the following:)

“Thank you everyone. It has been an honor and a privilege to appear before you today. Thank you.”

(Everyone had a slight smile, even the Chairman whom I could see from the corner of my eye as I left the room. I felt good. I had given it my best shot. But then again with these things you never know until the final results come out)

Total time spent in the room: 15 to 20 minutes.

Supriyo Panda RBI Grade B Seal

The End

When you walk out of that interview room the sense of relief that flows thorough you can hardly be described with words. After months of sacrifices, hard work & dogged persistence when you finally finish it all there’s a sense of stillness and emotional emptiness. After the interviews we were handed the TA forms and instructed to head to the CES (Central Establishment Section) department. A kind lady there reimbursed all our travelling expenses. Everyone was deeply respectful to us, and we felt like RBI was full of genuinely helpful and nice people. Even those who did not carry their ticket only had to sign a declaration to be paid. In cash! We were handed crisp newly minted notes right on the spot. Then we headed to the 4th floor canteen (which looked more like a classy restaurant with teak wood furniture & the finest ambience) and were treated to a scrumptious meal. At the end we were probably sad to have to leave the place, but 1 opinion we shared unanimously- it had been the experience of a lifetime.

Supriyo Panda RBI Grade B Food

Expect the unexpected

The overwhelming theme for me was banks & customer management. I actually felt like a fool for having studied so much! I remember thinking to myself that even if I had given the interview in November when it started it would have gone the exact same way. Some were asked factual data, others were asked technical stuff while many others had totally generic interviews. I was ready with a lot of technical banking jargon and had memorized tons of financial data from SBI’s Annual Report. I pored over RBI’s Balance Sheet & knew all about the burning issues at RBI. None of that was asked. No question on why CRR was 9%. Nothing from RBI speeches many of which I had studied intricately. No Preamble. No RBI Functions. No economic data. I came back feeling like there isn’t any formula to crack the RBI Interview. You can prepare as much as you want (and you definitely should!) but what happens inside that room will surprise you. Just relax and enjoy the moment- it passes by faster than you’d expect.

Supriyo Panda RBI Grade B Interview The End

Final Thoughts

I did not get selected in RBI Grade B 2018 and the day of the result was truly heartbreaking. Only a few of you reading this right now will find your roll number in that final PDF. The vast majority of us do not get into RBI. I hope you succeed but even if you don’t remember that it isn’t the end of the world. Not even if it’s your last attempt. It took some time but I got over it. Life goes on. I feel like preparing for RBI changed me for the better. There are other things in life than an exam. After all this is over think about yourself. You will notice a considerable difference between who you were when you started and who you became after it was over. While failure is painful, it might just be a stepping stone to something much better. Trust that the universe has got your back. You will be where you need to be. At the right moment in time. Thank you for reading and wish you all the best. 

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Supriyo Panda
Originally from the City of Joy, now reside in Karnataka. Bengali by heart,  Indian by choice. My love for writing is rivalled by my love for finance, economics, technology and business. Connect with me on Facebook

Supriyo Panda

Originally from the City of Joy, now reside in Karnataka. Bengali by heart,  Indian by choice. My love for writing is rivalled by my love for finance, economics, technology and business. Connect with me on Facebook