In this post I am going to outline 15 more RBI Interview Transcripts. I have already published Part 1 of the RBI Interview Transcripts that you can find here. Prior to that I published a post where I talk about my own RBI Interview Experience. The goal is to give you an idea about the interview process and the Panel through the first hand accounts of candidates with multifarious profiles. Here’s Part 2 with the candidates 16 through 30. 

Profile: Civil Engineering, worked 18 months as Business Analyst

1. Why did you leave the job?
(He said since you worked in data analytics, let’s start with data. Started asking me about recent GDP back series data issue)
2. Who publishes GDP numbers?
3. What is the main issue about this matter in the news?
4. How 2 data sources are converged and some more technical counter questions which I don’t remember
5. Some questions on RBI website and various disclosures and who is the target audience?
6. Financial Inclusion?
7. What is the level of FI in India? (Asked exact Data)
8. Suggest various measures for Financial Inclusion and also asked criteria of tier 6 as a follow up question.
9. What are the impediments in Financial Inclusion
10. What schemes Govt is running and how far they are successful?
11. What are various Financial Regulators?
12. Who regulated misc. Financial Institutions or new ones and then what all new institutions?
13. P2P Lending and Account Aggregators come under which category as per RBI?
14. What are Account Aggregators?
15. What is P2P Lending?
16. Why they should be regulated?
17. What are recent RBI guidelines w.r.t. P2P lending?

Note:

• No questions from Bio Data
• 4 panel members were there today and all were very cordial.

Profile: Engineer (2015 passout), UPSC Aspirant, Content Manager for a startup

I was the second guy to go in, my interview lasted 15 mins.

1. Questions about education, college
2. Would you stay in this job, have you decided?
3. Last few books you have read, names
4. Name the famous quizzes and quizmasters in India (hobby)
5. Details about startups, angel investors
6. Hedging
7. Sterilization
8. Money laundering
9. When exactly is MSF used over Repo?
10. Venture capitalists.

Light discussions over the said questions, couldn’t answer no. 9. Chilled out board.

Profile: B.Tech 2015 passout, UPSC Aspirant, No work experience.

Interview Date: 04/12/2018.

Chairman:
1. When and where did you complete graduation?
2. What are you doing currently?
3. Are you serious about joining RBI?
4. Didn’t you apply for SEBI?
5. Analyze the performance of SEBI as a regulator. Its role in corporate governance.
6. Some are saying that RBI is complaining too much. Some say that RBI is being bulldozed by government. What’s your view?
7. Is the demand for a separate payments regulator justified?

M1:
8. What are the challenges faced by banks today?
9. What is Basel 3?
10. Origin of Basel 1 norms.
11. Can consumers complain directly to RBI if there is deficiency in grievance redressal?
12. What are different risks faced by banks?

M2:
13. What do you expect from your job in RBI?
14. What are the functions of RBI?
15. What changes can you suggest to improve grievance redressal in banks?
16. Tell me about differentiated banking.
17. Are you following international affairs? What’s happening in France?
18. What is yellow vests movement?

M3:
19. How does RBI intervene in Forex market?
20. Is there any target for exchange rate for RBI?
21. What do you mean by volatility?
22. Who gets benefited when rupee depreciates?
23. What is Masala Bond?
24. What is its advantage?
25. How are interest rates fixed in Masala Bond?

Some people were not so lucky. Questions to another candidate: what are the changes brought in Federal Reserve of US after HFC? Who was the chairman of Bank of England (at some time, don’t know when)

Profile: B.Tech NIT Jaipur, UPSC Aspirant, 2 year gap.

Interview Date : 04.12.18, Duration = around 30 minutes.

4 Members in the Panel, I was 5th to go.

Chair :
What degrees do you have ?
How many attempts in UPSC?
What other exams you have applied for ?
What special qualities you have which is not there in those other candidates ?
What is public service ? How RBI is involved in it ?
Top developmental challenges in India ?
Which is the central bank of US ?
How tight is the control of US government on Federal bank ? Do you see RBI vs govt type disputes there ?
Which Act regulates Fed Bank of US ?
Any significant statutory reforms in last 10 years in Fed ?
Central bank of England ?
How many deputy governors are there in RBI ?
Name few deputy governors of Bank of England.
Is inflation in England soaring ?
What is interest rate and inflation rate in England now ?

M2:
Is there any department for development in RBI ? Is it in other banks too ?
In which areas is it working ?
Major projects undertaken by that department ?
What is PSL ?
What are Small Finance Banks ?
Why give them licence instead of expanding PSBs ?

M3:
Are you motivated for the job ?
Prove me.
Difference between theory X and theory Y ?
Which is better ? Other is of no use ?
What are MSME clusters ? Projects for them? There is a particular reason why banks are interested in these clusters. Do you know it ?
Have you heard about Katowice ? What’s so special about it ?

M4:
What is ease of doing business ?
Rank of India ? Improvement in rank Before BJP and after BJP ?
Reforms in contract enforcement ?
Around how many clearances you have to get before starting some infrastructure project ?
Compare it with Norway.
Tell me one common or similar reform by central government and Maharashtra government in ease of doing business.

Thank you.

Profile: B.Tech, 3 years workex in Finance and Academic Research, Level 1 CFA
Interview Date: 05.12.2018, Chairman + 3 members in the Panel

Chairman:
1. Why did you shift to your previous job? (Acad Research)
2. Why did you leave the job?
3. Have you given any other exam?
4. Did you clear?
5. Why not?
6. Regarding ILFS issue: who is at fault?
7. Are credit rating agencies at fault or auditors?
8. Any recent news (today’s) on who has been found to be at fault?
9. What do you know about East Asian crisis?
10. What lessons do we learn from it?

M1 (Lady):
11. What risks does RBI face?
12. What regulatory controls does it have over banking systems?
13. Any suggestions for additional regulatory requirements?

M2:
14. So you like traveling, where all you have traveled?
15. Did you find anything common across all these places in India?
16. Have you ever visited any bank branch in your hometown?
17. How did you find the proficiency of employees?
18. Any Queries they are not able to resolve?
19. ATM closure issue, heard about it?
20. Is it an issue if few ATMs close down?
21. Considering India is moving towards digital economy, why are ATMs still required?

M3:
22. So you like bird watching, what are the national parks you visited around Delhi?
23. Have sightings gone down? Are we able to see migratory birds?
24. Do you agree there is a shortage of liquidity for NBFCs?
25. Yesterday a private large NBFC suggested a simple but effective solution? Aware of it? (Wasn’t)
26. What are sources of finance for NBFC?
27. Which debt instruments do they issue?
28. How can they benefit from getting banking licenses?
29. Recently another profitable NBFC was given Banking license as well?
Okay you may go.

Profile: Mining Engg (2018)

Chairman (C):
C: You have a good academic record and only 21 years of age why RBI?
C: Section 7
C: Viral Acharya should have given that speech in public or not?
C: Distinguish between the aims of fiscal and monetary policy?

Lady Member (M1):
M1: Which department of RBI would you like to join?
M1: Explain monetary policy function of RBI
M1: Tell some functions of RBI
M1: Role of RBI In financial inclusion

Male Member (M2):
M2: He asked me if you are appointed in currency dept having large manpower what can you contribute? (In context of me being a mining engg.)
M2: Explain corporate social responsibility

Male Member (M3):
M3: Which measure/instrument USA took to control effects of global financial crisis in 2008?

Profile: Unknown

Chairman
1. Why should we take you?
2. What does the term “vision” imply in supervision, in terms of your experience in banking?
3. What vision is required at the level of a branch office in a bank?
4. Name 4 types of risks.
I listed 4 risks. Then he asked me to list 5 more and make it 9. Could not answer but was asked to guess before they told. 

Ma’am
1. Basel III
2. CCB and CCYB (difference)

M1
1. Sovereign gold bond campaign (mentioned on my Biodata)
2. New changes in SGB
3. Why was SGB introduced?

M2
1. Is the gold monetization scheme still active?
2. Difference between the 2 GMS vs SGB.
3. Why is it not receiving popularity?

I don’t think it’s very helpful to anyone. But this is it.

Profile: B.Tech Civil Engg ’16

Hobbies: cricket, no work experience. Interview lasted 21 minutes. 3rd to go in.

5 members in the Panel: Chairman(C),W1,M1,M2,M3

C: First name(blundered by telling full name as a result chairman didn’t go into my profile)
C: Recently RBI was in news(regarding newspaper) tell me about this?
C: What were the reasons given by governor to have such a huge capital reserve?
(I was bluntly towards RBI but he wanted to tell me my answer more diplomatically)
C: Capital theory? I didn’t have any clue…
C: What do you know about economics?(I told him that I am only familiar with microeconomics)
C: Told W1 to ask questions

W1: What is Uttarakhand famous for?
W1: Reason why Uttarakhand is not growing?
W1: Asked about hilly regions?
W1: Different functions of RBI?
W1: Should RBI regulate PSS and why?
W1: Difference between Uttarakhand and Gujarat?
W1: Transferred to M1

M1: Looking at biodata and marksheet told me that you have such good marks in UG why not civil service?
M1: Asked why you took engineering?
M1: How will civil engineering help in banking?
M1: Persisted in civil service and asked about previous banking exams given?
M1: Asked about monetary policy?

C: Interrupted asking what does RBI keep in mind while deciding MPC? (he was also asking time duration)
C: What is net rate of return?

M1: Transferred to M2

M2: Reasons behind NPA?
M2: How to improve that?
M2: Asked about economics again and I told him that I only studied about microeconomics
M2: Transferred to M3

M3 (South Indian guy): Asked me about RBI consumer education and protection department?
M3: Goes international. Asked me about Russian and Ukrainian tension?
M3: Asked about the capital of Crimea?(no idea)
M3: Institutions regulated by RBI besides SCBs?
M3: Type of money market instruments and difference?

Back to Chairman

C: after hearing all the discussions he said how will you work as an officer in RBI? (basically: How can you adapt yourself being a civil engineer)
Chairman asked me to leave.

P.S : W1 was nice, M2 was cool and composed, M3 was cunning, Chairman was little diplomatic and composed and I was unable to read his face unlike the other members. W1, M1, M3 had sticky notes attached to my biodata and were asking from that.

Some questions are missing as I am unable to recall.

Profile: Unknown

Interview Date: December 12, 2018 (Mumbai)

Duration: 20-25 minutes

Panel – M1, M2, M3 and M4 (lady). The Chairman was unwell so he left after conducting 5-6 interviews.

M1 – You have appeared earlier. Which year? Where you work? What’s your profile? 2-3 follow-up questions based on what I answered. RBI Preamble.

M2 – Name two Development Economists from India and explain a bit about their work. I could name the economists but not about their work. Thereafter he went in a rapid fire mode and I am unable to recall the questions. He asked about Yellow Vest protest? What is it about? How do you measure inequality? Gini Coefficient? (Forgot what’s India’s Gini Coefficient).

M3 – Why RBI after working in private? Questions related to Infra and Power sector. Power Purchase Agreements. Why India procures coal from abroad? Coal Reserves and why the current stagnancy in Infra and power sector?

M1 – Questions on CRR. When was CRR last used as a monetary policy tool? Why it was used? Why it was used in 2008 and 2013?

M4 (lady) – No questions asked.

Overall it was an extremely cordial interview. The interviewers nudged you in the right direction and nodded if you got it right (and would question you repeatedly if you made a mistake). If they felt that you knew about the topic, they switched to other questions. Although the lady did intervene once and told me ‘yes you are on the right track’, she herself didn’t ask any question. So not sure how to gauge that. Overall, my interview was average and it was entirely profile based.

Profile: RBI Staff (1st one to go in that day)

Interview Date: December 12, 2018 (Mumbai)

Questions from job profile and RBI Act. Other questions are recent RBI’s steps for liquity, how bankers to bank and government, why RBI is not paying interest to the deposits of govt and banks, criticise the RBI on banks regulation.

Profile: Civil Engineer, MBA Finance, worked in ICICI Treasury as a Derivatives dealer.

Interview Date: 12th December 2018, 13th to go in, chairman was absent.

1. Why did you leave ICICI?
2. What is derivatives misselling?
3. How does bond yield affect common man on the road?
4. How does RBI regulate derivatives market
5. Who’s the biggest borrower in India
6. What is monetary policy framework in India
7. What is FOMC
8. How are policy rates decided in USA
9. Why global debt markets so volatile
10. Why RBI puts limit on FII in bond market?
And some related follow up questions

Total time was 12-15 minutes. One member was trying to put me under stress, others were ok. Overall experience was not good. All the best. Cheers.

Profile: B.Com Hons, CA, CWA. Work Experience – HDFC, NBFC & LIC. Total 6.5+ years

I was the last one to go for interview 

Don’t you think you are overqualified for this job?
Why didn’t you apply in last years?
Provision and IndAS?
What challenges banks may face?
Enterprise value
Free cash flow
CRR and OMO what are technical differences
Private vs Govt job
What do you know about function
GFC 2008
LIC’s subsidiary
LIC HFL banking licence
More benefits if it gets one?
What are your hobbies

Profile: Unknown

Interview Panel total 4 members, 2nd last interview, chairman was not there.

1. What is problem with hard currency
2. Argentina crisis
3. Measures taken by RBI to ease liquidity of NBFC sector
4. Why you want to work at RBI despite being a chemical engineer from IIT and working in a chemical company
5. What is macroeconomics, difference between macroeconomics and microeconomics
6. What is trade deficit, what is invisible & visible
7. What is CAD
8. Oil Reserves in India
9. What you are currently doing
10. What is Basel Committee of Banking Supervision
11. Current, Capital Account Convertibility
12. Who is Maldives president
13. Free trade agreement of India with other countries
14. Are you preparing for civil services
15. What you will do if you are in the position of Theresa May? 

Profile: B.Tech ,MBA Finance

7th to go

QUESTIONS ASKED
1-What is monetary policy framework
2-Important functions of RBI
3-What is price stability and inflation
4-What is Transactional Analysis and Maslow theory of motivation
5-China Pak economic corridor
6-Pearl of Indian Ocean
7-Regulator of Bond and Capital market
8-Basic question based on my profile like place father job etc
9-What do you mean by legal tender

NOTE:
Follow up questions on point 7 above are really hard nut to crack. In fact they are out of world. Follow up questions on others were average difficulty level of other questions. CPEC was also out of mind in fact they delved deep into history about silk route and some awkward questions. Overall performance I can say was average as I was not able to answer some like the transactional analysis question.

Profile: B.Tech, 8 yrs industrial experience

Chair
1. In which subject you did graduation ?
2. From where ?
3. What’s your experience ?
4. What’s your date of birth ?
5. Don’t you think you are late to apply for this ?
6. What is your current salary ?
7. What will you get in RBI ?
8. What are the problems faced in GST implementation in humanitarian point of view ?
9. Whats are the statistics of GST ?

M1
1. Are you preparing for UPSC ?
2. What’s your optional ?
3. Who is MT ? (Sarika: Mt Vasudevan Nair… Malayalam writer…I guess)
4. There is some controversy recently regarding his novel. What was it ?
5. In which Dept of RBI you want to work in ?
6. What’s interest rate ?
7. How RBI ensures interest rates are implemented ?

M2 (Lady member)
1. How your experience can help RBI ?
2. What do you watch on Ted talks ?
3. Do you watch finance related Ted talks ?

M3
1. What are the 3 risks in international market ?
2. What’s ISO certification ?
3. Is it relevant to RBI ?

M4
1. You were in an industry for 8 years. When you join RBI won’t it be a loss to your current industry ?

To be Continued…

I will continue the RBI Interview Transcripts in Part 3 with the next set of 15 interviews.

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