The RBI Grade B Interview has historically been quite unpredictable. The questions asked to candidates vary considerably across the board. A big reason for this is that aspirants for this exam come from every walk of life with varying educational & occupational profiles. So how do you prepare? Well, you read all the interviews you can find of course! In my previous post I gave a detailed account of my own RBI Grade B Interview experience. During that time I met many others who were gracious enough to share their own interview experiences. I had always debated the authenticity of the interview experiences I read online but once I reached the interview stage myself I could get them directly from the source. I collected a total of 75 interview transcripts in 2018. As you read through them you will see that some transcripts are much more detailed than others. I intentionally left the text unchanged (only corrected minor spelling errors) and I urge you to read through them all carefully. For me it proved to be a great tool to gain insight into the mind of the RBI Interviewer. Many of these individuals have made it into RBI and they would not like me sharing their identity so I will not list their names but I will outline their profiles for context. Without further ado, lets jump right into Part 1.

Profile: CSE preparation 3 attempts
(Questions are not in order)

1. Three reasons why should we take you?
2. Will you join and stay in RBI?
3. Past three years Indian Foreign Trade scenario
4. Has the rupee depreciated? Why has rupee depreciated?
5. What bank will you call a good bank and which one will you call a bad bank?
6. Difference between depreciation and devaluation?
7. Trends of other emerging market economies currencies vis-a-vis dollar?
8. What is OPEC?
9. What has the US done to counter the OPEC?
10. What is NOPEC?
11. Has India ever devalued currency?
12. Should India devalue it’s currency?
13. Question on ‘achievements’ mentioned in bio-data
14. Did you sit for campus placements? Why/why not?
15. When did you decide that CSE was your goal?
16. What is CRAR? Why was it in the news?
17. What is CCB? How much is prescribed?
18. Why is there a difference between performance of pvt and public sector banks?
19. Do you think that procedure is lacking or intent? (PSB reform)
20. How will you evaluate RBI’s performance so far?

Profile: Chemical Engineering, Vedanta, PGDM, Hero Moto Corp
Chairperson–
1. When did you complete PGDM?
2. When did you work?
3. What will be your contribution to RBI?
4. What is the role of RBI To specifically state government?

M1 (lady)- What was the place you explored?
What was special about it?
Any silk production there?
What is difference between efficiency and effectiveness?
What will you chose as a leader?
What is the farmer situation in your state (being a poll bound state)?
What challenges they face?
How is your district different?
What are the functions of RBI?
Why IFS?
How could you not clear?

M2 – what is – financing? (couldn’t hear)
What is unicorn?

M3- what is lopsided distribution of wealth?
How can we minimize it?
What one quality will you choose in a leader?

M4 – are you from Maharashtra?
Do you speak Marathi?
What is fiscal policy?
What is its objective?
Monetary policy objective?
Instruments of fiscal policy?
Is fiscal deficit bad?
How? Is there any target?

You may leave.

Board is cordial. Chairperson is new, not sure about other members.

All the very best

Profile: MBA, SBI PO experience 1 year, Given Civil services attempts

Other Info:  Total – 16 candidates but 3 rescheduled (13 for day), Avg time range 10-20 min

Board Composition:
Chairman
One lady member
One member from South India
One member from local region
One outside expert

My interview lasted – 20 min

A lot many questions on crises such as the Eurozone crisis or matters like bad loans.
NPAs, PCA, IL&FS, Insolvency, NCLT etc.
Also about what the RBI website displays – Monthly/Annual Reports and Publications, etc.
They were asking – Do you visit the RBI website? I told them I do visit it but only for checking on recruitment related updates lol

The interview starts with your profile in very brief manner before they go into core economic/finance issues. A lot of it is based on hot topics in the economy sector. They try to relate from your profile anything that they can connect to the economy/finance/RBI

Profile: B.Tech Mechanical, 3 years work ex in pharma, 3 years UPSC

Chairman
1) Educational background ?
2) What did you do all these years?..
3) Are you waiting for UPSC results?

M1 ( lady)
1) Biodata- placement coordinator related?
2) News about previous pharma co?
3) PCA related!.. What is it? how is it measured?

M2
1) Derivatives?
2) NBFC? what? Importance?… Why should be it regulated? Counter questions…

M3
1) Why should bank be regulated?
Counter questions – deposit insurance related etc…

M4
RBI Reserves related lot of questions!… Right from economic survey 2015-16 Arvind Subramanian surplus to all relevant facts like how much contingency – should rbi give its surplus to govt…

20 mins…Overall no blunders…not an outstanding performance though but at least average… Facts and data – to the point and correct!… Opinion based – should have conveyed in more proper and structured manner…. Else could have been further better… Lets see… Done ! 

Profile: Unknown
Interview date 29/11/2018, first one to go.

Chairman
Why are you interested in RBI?
Functions of RBI
You will leave RBI for UPSC, why should we select you
NITI Aayog vs Planning Commission
What is new in NITI Aayog

Lady member
What is CRAR?
ATM closure issue, what is your view?
Difference between white label brown label ATM

Male member 1
What are the Basel 3 norms?
What is Leverage Ratio?
What do you understand by the term Leverage?
What are your views on demonetization?

Male member 2
Why did you leave SBI?
What are the three takeaways from SBI?

Male member 3
What is the problem with solvency of SBI?
What are your views on Solvency Ratio of SBI as shown in recent report?

Profile: Unknown
Interview date – 29th Nov 2018, Location – Delhi

What is Insolvency & Bankruptcy ?
Problem of Bankruptcy in India ?
Why are most power sector committees stressed ?
Something about Enron power company of US ? (Enron Scandal)
What did you do after graduation ?
Will you stay with RBI ?
Why should we take you ?
Do SWOT analysis of yourself ?
Problem of farmers in Rajasthan ?
Situation of solar power sector in Raj ? Problems in solar energy ?
What is CRAR ? Why has RBI kept it higher than global norms ?
What is BIS ? Basel norms etc.
What have you prepared for interview ?
Have you visited RBI website ?
Financial regulations in India ?
Do we need so many regulators ?
Why can’t we have a Unified Regulator ?
What is going on in Sri Lanka ? (political instability of late 2018)
Why Sri Lankan crisis is a concern for India ?
Diff b/w Indian Tamils and Sri Lankan Tamils ?

These are almost 90% questions & there was a lot of cross questioning on some questions too.

HOPE, IT MAY HELP U. All d best everyone !

Profile: Unknown

Interview date: 30-11-2018

Chairman started his conversation with questions and he asked me about –
GATT, Doha round, Difference between commerce and trade and what happens when countries do not follow WTO rules?

2nd member – asked about
Economic conditions in Raj, capital of RBI, difference between partnership and company, what is top line and bottom line capital

3rd member – asked about my job, PMI index which is released by the IHS Markit where I was working

4th member – asked about Sec 8 of Companies Act , what is leverage ratio, what do we mean when one says that banks are highly leveraged , examples of leverage ratio, inside and outside liabilities of banks, whether any RBI related news was there in the newspaper today..

This was all. The questions were related to accounts and so a commerce graduate must focus on these points whereas B.Tech are gonna get ques from economics and banking awareness.

Mine was avg becoz i gave 2 wrong answers today one was related to PMI and other was regarding Doha round

Commerce par book likhne wala koi famous economist internationally famous Ye bhi ques tha ek

I am new to rural banking earlier was in SBI and I was asked about some famous farmer, don’t remember his name. And was asked what suggestions he gave to improve agri.

I was bewildered

Don’t know what they are asking

What is Securitization… how did Sarfaesi Act help in Securitization ??

1. Tell 6 recommendations of 14th Finance Commission.
2. Difference between Basel I and II norms.
3. Leverage Ratio?
4. Last three heads of XYZ org?

Profile: Unknown

Interview date: 30th Nov 2018

Chairman
1. Where are you currently working
2. Which other exams have you applied for
3. What is the importance of 1991 in Indian Economy
4. Which committee suggested 1991 reforms
5. What is globalization
6. Was LPG a compulsion or desire?
7. What forced India to go to IMF
8. How much Forex reserve was left with India during BoP crisis (in terms of days of import payment)
9. How is microfinance industry doing
10. Three challenges to microfinance in India

M1
1. What is CRAR
2. Why fixed at 9%? Discussion followed after this
3. What is current percentage of NPA in Indian banks

M2
1. Have you read RBI Act? What is the preamble?
2. What is the difference between efficiency and effectiveness
3. What leadership qualities do you search in people.
4. What are the goals of HRM in an organization
5. What is corporate governance
6. What are the important factors of corporate governance

M3 (hobby- football)
1. Which league do you watch?
2. Why not Indian League
3. What is the current rank of india
4. From where have we come to that ranking?
5. Why are we improving in recent times?
6. Why India cannot play world cup ?
7. Is cricket killing other games in India?

Profile: B. Tech in Mechanical Engg. 1 Year job experience in a Mechanical Company. Currently working in an IAS Coaching Institute.

UPSC: 3 mains in 4 attempts.

Hobbies: Photography

Interview date: 01.12.2018 (12th one to go out of 16 candidates. 4 members in panel).

Chairman:
1. What does Amay (my name) mean?
2. From which college have you done engineering?
3. In which stream did you complete your engineering?
4. You worked in a mechanical company, then why did you switch your field?
5. What do you know about Euro Crisis?
6. Do you know whose idea it was to form the European Union?
7. Can you tell me some functions of RBI?
8. Do we need independent payment regulator?

M2 (Madam):
1. So you have interest in photography, what is aperture?
2. Did you organize any photographic exhibition in college?
3. Do we have any target for US Dollar to Rupee conversion?
4. What role does RBI have in stabilization of rupee?
5. Is Indian currency a reserve currency? Why is it not?
6. Is Indian currency convertible?
7. To what index is US Dollar valuation linked to or something on that line (Cannot recall the exact question)
8. Do you read newspaper? Why was Fiscal Deficit in news today?
9. What is the future prediction for Fiscal Deficit, according to the news?
10. What is C/D Ratio?

M3:
1. What role does RBI play in Financial Inclusion?
2. PSL and Lead Bank scheme has been for almost 3-4 decades now. Why have we not completed the task of financial inclusion?
3. You wanted to do some developmental work. You could have joined any NGO. Why do you want to join RBI then?
4. What is PMJDY?
5. Is Ranchi financially inclusive? (My home town)
6. Why do you think that there is financial exclusion?
7. What can be done to improve financial inclusion?
8. What is role of RBI in financial literacy?

M4:
1. What is Bad Bank? and What’s the current status?
2. Why do you think it is not feasible?
3. What is full form of FRBM Act? (I said Finance, instead of Fiscal)

Chairman intervenes:
1. What is difference between Finance and Fiscal?
2. What is the relationship between Fiscal Responsibility and Budget Management?

M4 Continues:
1. Why do we have high CAD?
2. What is India’s Current CAD?
3. What are India’s Major exporting items?
4. Why is textile not a major exporting product now?
5. Why do you think India exports Processed Petroleum products?
6. Which Processed petroleum products does India export?

Chairman asks me to go, but M4 starts with a question. So he lets him continue.
1. How do we do Current Account Financing?
2. How can we reduce CAD?

My observations:

• Board is cordial. They encouraged me to take a guess when i said i don’t know to some questions.

• Each member has our biodata and a sticky note attached to it with themes written. Madam was sitting beside me, she was ticking themes after asking each question.

• Also, they update their themes as we answer. Like I used Bad Bank (slipped out of mouth, I wanted to say toxic banks while answering Euro Crisis question) and Financial Inclusion while answering to the Chairman. M3 asked me most questions of Financial inclusion and M4 started with Bad Bank.

Profile: Unknown

Jaate hi chairman will ask a question. I’m guessing it’s just to unnerve you. But I’d advice to be confident and not fumble on this one. Because I did. It was related to digital initiative for me.

Rest one mam asked me about my hobby, some questions around that. And sports. And my state. Sex ratio.

Asked about news in today’s newspaper.

RBI reports, financial stability mainly. As I’m a web developer, they asked me about the feel of RBI website.

FAQ section mei se kaafi pucha. PCA. PSL.

Profile: BBA, Ex- SBI Associates, Ex-IDBI Assistant Manager. 

Interview date: 01.12.2018 (There were 16 candidates for the day and I was placed on 10th order wise. I was appearing for the RBI interview first time). 

Turn came around 12 PM. 

Me: Entered and wished everyone and occupied the sheet. 

Chairman: So, Mr. Singh what are you doing currently? Are you working?
Me: No sir. I resigned from IDBI in April 2017 and currently not working anywhere. 

C: Why you resigned? Have you appeared in any other exam?
Me: Sir, I resigned to focus fully on RBI preparation. Chairman cut me short in between (He did not penetrate much in this). On second part, I told I cleared IPPB Scale 2 exam but could not make it to final list. 

C: You have done your graduation in BBA. Tell me what all you studied.
Me: I told about all the graduation subjects mentioning Economics, Finance,Marketing,HR etc.. 

C: Tell me on which subject I should ask you.
Me: Economics ( I avoided accountancy & finance as I was Science student in Sr.Sec) 

C: Told 2 economists name. Do you know them? (They were not Karl Marx, J M Keynes etc.. I was hearing their names first time)
Me: Sorry sir, I am not aware. 

C: Have you heard about – Globalization & its Discontents
Me: Again sorry sir..(It was a book, for a brief second I thought to reply by mentioning recent backlash against globalization (in the view of Trumps protectionist measures & trade wars) but confirmed with chairman – is it book or he is asking in general). 

C: Tell me about Indian economy’s performance (From 1991 to till date) in the view of GDP numbers and what are your views on CSO’s latest back series data calculation move- is it good or bad.
Me: Little briefed about pre-reform issues and later told about 1991 reforms (LPG, Deregulation,Removal of license raj etc etc..), our economy started growing, 2004-2008 best period in terms of GDP numbers, 2008 financial crisis affected India less as compared to others, 2013 rupee depreciation and problems faced due to high oil prices affecting our economy, lately Demo – GST causing temporary disruption and now again we are slowly coming back on track…
On CSO’s back series GDP data calculation I told it will present better picture and will give more clarity.(Although I was not confident on technicality part of it as it came just 2 days back) 

C: Tell me about income inequality issue and its harm .
Me: Started explaining the inequality issue. Interrupted in between and asked to tell about jobless growth. I started explaining … again interrupted and told that PM gave a big speech on job creation ..what PM was referring to? I told no. of jobs created were not proportional to our growth but what PM said is that even a self-employed should also be counted in formal job(Pakoda -Seller).. 

C: Ok.. asked other member to to initiate ..
M2: Tell me about Basel norms and various parameters?
Me: Told all as I well prepared on this front. 

M2: What is Leverage, LCR, and other ratios included in Basel III?
Me: Explained Leverage, LCR and NSFR.

M2: Tell me 5 major risks a bank faces?
Me: Told Credit risk, Market risk, Operation Risk & then …got stuck. Then he told 2 more himself- concentration risk and reputation loss risk. Asked again to explain concentration risk and I explained.

M3: (A lady) :- You worked in IDBI. Is it nationalized bank or PSB?
Me: It is a PSB and explained why.

M3: You mentioned you won 1st prize in Essay competition at school level. What was the topic of essay and your conclusions?
Me: Told that it was on corruption. Then she asked further about recent status of corruption, about RTI and Lok Pal etc.. Explained my generalized view on corruption, although it was not smooth (I failed to come up with good points as it was little off-topic she did not ask in specific about corruption in banks or frauds Nirav Modi,Mallya etc).

She also asked about CIC’s show cause notice to RBI. I told RBI was asked through RTI to disclose wilful defaulter list but RBI did not disclose. Then petitioner went to CIC and CIC issued show cause notice to RBI. She did not ask further on this issue but I was excepting that she may ask Why RBI is not disclosing names or is it harmful for economic sentiments of country.

M3: You handled Demat and LAS. Tell what you know about sensitivity in reference to your profile work.
Me: Initially could not get what she meant, she clarified that she meant risks associated with LAS lending. I explained about equity market risks & all but it seems she wanted to know more about risky sectors and gave reference of real estate segment.

M3: came back to IDBI again and asked about its unique nature. What was different in IDBI.
Me: Started with IDBI inception, subsidiary of RBI, UWB merged with it ..but she interrupted me ..no no. I am asking something else. May be she was referring to its DFI role and I was coming to it but interruption caused disconnection. So she asked other member to ask .(I should have not missed its DFI contribution and I was well aware but missed it altogether ..low point)

M4: Tell about NII.
Me: Explained NII.

M4: What other thing we include while calculating NII.
Me: Sorry sir. I am not aware.

M4: What is ICAAP.
Me: Told about ICAAP that it is capital adequacy and assessment process and it used to check if banks are having enough capital in place to deal with tough circumstance in future. But wrongly referred “I” as – International and he dragged me on this, I was failing to recall exactly and so told – India but he said no and dropped hint that it is inside thing and finally I got it right- “Internal”.

M4 : Tell me about 2 assets and 2 liability components on Bank’s balance sheet.
Me: Could tell only one component on each side and got stuck…

M4: Ok..
Chairman: Ok you may go….thanks. 

Member 4 was asking questions in a way that you get stuck in between.
Overall mixed feelings. It was ok. Personally, felt I could have done much better. Let’s see what happens.  

Profile: Unknown

Interview date: 04.12.2018

Duration: 15 min. (Almost all aspirants on the day had same duration.)

1. Where did you do Grad from?
2. What did you study in Grad?
3. What have you been doing? (Gap years)
4. Is this your first attempt?
5. Have you read Economic Survey?
6. How many volumes are there?
7. What are in I and II volumes?
8. Who prepares ES?
9. Who prepared this year ES?
10. How is this year survey different from last year survey in terms of contents discussed?
11. What is the recommendation of 14th FC regarding Special status category?
12. What do you know about RBI?
13. What problems are there in supervising Banks?
14. What are the issues Banking sector is facing now?
15. RBI’s step to deal with NPA?
16. What changes will you bring if you come in RBI?
17. What do you know about John Locke?
18. Which is better: Parliamentary system or Presidential system?
19. Who regulates NBFCs?
20. Tell name of some NBFCs.
21. Name NBFCs regulated by : A) SEBI B) IRDAI etc etc
22. What is Alternate Investment Fund?
23. How many deposit taking NBFCs are there?
24. Some threshold related to NBFCs ….( Could not get it properly.)

This is the crux. There were probably some more questions that I do not remember.

Comments:
1. The Board consisted of a member from South India among others. You may have some difficulties in getting him. I tell it with due respect to the member.
2. If you are a UPSC aspirant, do not bother much about it. I conversed with 4 guys, all shared the same background. For non-UPSC aspirants, just ignore previous line.
3. The Board had had a leaning towards exact facts and figures, many guys shared this experience.
4. Do not over-analyze other’s interview. One’s interview is heavily influenced by Bio data and the level of expectations it generates.

Thank you and all the best!

Profile: 2016 B.Tech Graduate, working in PSU

Chairman started as soon as I entered, even before sitting–
Q1. What is your current salary? What will be you get in RBI?
Before listening to the answer, he starts with why you people want to switch jobs and all these
Q2. Asked about 1991 crisis. Sub-prime crisis
Q3. Who is the culprit of Sub-prime crisis? (Regulators, Politicians or Rating agency, was it an intellectual failure?)
Q4. We study all the books from US and most of the economist from US. If they will fail, how we are going to survive. (got grilled)
Q5. East Asian Crisis (couldn’t answer properly)

Transferred to lady member
Q1. What are denominations of notes RBI prints?
Q2. Why do we need coins?
Q3. What is RBI policy for mutilated and soiled notes?
Q4. What is plastic note?
Q5. What is formula to derive what is denomination of notes and how many notes of a particular denomination will be printed?

Transferred to third member
Q1. Asked about RBI Ranchi and questions based on district.
Q2. Functions of RBI.
Q3. How RBI is banker of banks?

Forwarded to Fourth member
Q1. Why do we need banking regulator, if most of the banks are owned by government?
Q2. About RBI Act, Banking Regulation Act.
Q3. Recently Gov. Urjit Patel said that RBI is not able to regulate PSBs properly, which Act he is referring to? (Told about all the Acts I remembered but he said no for all options)

To be Continued…

I will continue the RBI Interview Transcripts in Part 2 with the next set of 15 interviews.

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