Best Online Coaching for RBI Grade- B Entrance Exams in India, Online Classes for RBI Grade- B Exams – Avision Institute

The notification is out now and we are providing the candidates with a list of section-wise best books for RBI Grade B exam preparation. Other than giving them a list of the best books for RBI grade B (Phase 1), we have handpicked a few other topics for Phase 2 of the same exam and listed the useful books for the RBI Grade B Phase 2.

Books play an important role in the RBI Grade B exam preparation. Students must know the names of important books before starting the preparation. After covering the basic concepts from standard books, they will be able to solve problems with confidence and accuracy. RBI Grade B is one of the most important banking exams conducted across the country. The exam provides an opportunity to work for India's central banking institution, which controls the issuance and supply of the Indian currency, managing all the monetary policies of the country.

A lot of people in and around have had a tough time chalking out a strategy for the RBI Grade B exam. Go through the important books for RBI Grade B Phase 2 & Phase 1 exam here in this post and start your exam preparation now!

Based on a thorough analysis of last year’s RBI Grade B question paper, most of the questions asked in the Economics & Social Issues section were asked from the following sources:

●                The Economic Survey of India

●                The Budget Document

●                Concept-based (Books)

●                Basic knowledge (NCERT)

●                Newspapers (Current events, factual in nature)

●                Press Information Bureau

Most of the questions were based on facts, figures, numbers, and percentages. Therefore, based on last year’s question paper of RBI Grade B, we concluded that the following are the three most important sources for the preparation of this exam:

●                The Hindu Newspaper

●                The Economic Survey of India

●                The Union Budget

However, candidates need to have an in-depth understanding of the topics as well, apart from the above-mentioned sources as exam questions can be framed from any topic. So, in order to help them all in the better preparation of this exam, we will discuss the important books for RBI Grade B Phase-2 & Phase-1 exam preparation now!

One can follow the books mentioned below for the Phase-1 preparation of RBI Grade B exam 2024:

Name of the Book	Books for Preparation
Quantitative Aptitude	●        Magical Book on Quicker Maths by M. Tyra ●        Quantum CAT by Sarvesh K. Verma ●        Fast Track Objective Arithmetic by Rajesh Verma
Reasoning Ability	●        A modern approach to Verbal & Non-Verbal Reasoning by R. S. Aggarwal ●        Analytical Reasoning by M. K. Pandey
English Language	●        Objective English by S. P. Bakshi ●        High School English Grammar & Composition by Wren & Martin
General Awareness	●        Monthly GK Digests of BYJU'S Exam Prep ●        Manorama Yearbook 2018 ●        Kurukshetra Magazine

I. RBI Grade B Books for Finance & Management

Following books are recommended for the preparation of the Finance & Management section of the RBI Grade B Exam:

●        Indian Financial System by M.Y. Khan

●        Indian Financial System by Bharti V Pathak

●        T.S Grewal -Accounting Ratio

●        Principles of Management by P.C Tripathi

●        S. P. Robbins/TN Chhabra- Organisational Theory

In the table below, we have covered the sub-topics of this section as well as the sources which one can refer to for their preparation:

Name of the Topics	Books/ Source to be referred
●        Financial Systems: Regulators of Banks and Financial Institutions, Reserve Bank of India- functions, and conduct of monetary policy, Banking System in India ●        Financial Institutions: SIDBI, EXIM, NABARD, NHB, etc.	Advanced Concepts ●        Indian Financial System -  Bharati Pathak – Chapter -12- Development Financial Institutions ●        Indian Economy - Puri and Misra – Chapter 46, 47 (Commercial Banking, The Reserve Bank of India) ●        Visit Website(about us) of RBI, SEBI, SIDBI,EXIM,NABARD & NHB – for functions and recent developments
●        Financial Markets - Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), functions, instruments, recent developments.	Basic Concept ●        NCERT – Business Studies – Part II - Chapter–2 – Financial Market  Advanced Concepts ●        Indian Economy Ramesh Singh – Chapter 14 - Security Market ●        Puri and Misra – Chapter 45, 48 – Money Market, Capital Market ●        Best  Book – Bharti Pathak
●        Inflation: Definition, trends, estimates, consequences, and remedies (control): WPI, CPI - components and trends.	Advance Concept ●        Indian Economy by Ramesh Singh: Chapter -7- Inflation and Business Cycle Or ●        Indian Economy by Mishra and Puri: Chapter - 44 - Price Trends and Inflation
●        Risk Management in Banking Sector	Advance Concept ●        CAIIB - Bank Financial Management: Module B- Risk Management
●        Basics of Derivatives: Forward, Futures, and Swap	Theory Concept ●        Indian Financial System - Bharti Pathak – Chapter 9  - The Derivative Market  Numerical Concept ●        Financial Management - Prasanna Chandra
●        The Union Budget – Direct and Indirect taxes; Non-tax sources of Revenue, Finance Commission and GST, Fiscal Policy, Fiscal Responsibility and Budget Management Act (FRBM)	Basic Concept ●        Introductory Macroeconomics – Class XII: Chapter – 5 - Government Budget and The Economy  Advanced Concepts ●        Indian Economy by Ramesh Singh by Chapter – 18 - Public Finance in India
●        Recent Developments in the Financial Sector, Financial Inclusion- use of technology	●        Indian Economy - Ramesh Singh – Chapter 12 – Banking in India ●        Website of RBI and Internet
●        Portfolio Investment	●        Indian Financial System- Bharti Pathak – Chapter 15- Mutual Funds
●        Public Sector Reforms, Disinvestments	●        Indian Financial System- Bharti Pathak – Chapter 7 -
●        Corporate Governance in Banking Sector, the role of e-governance in addressing the issues of corruption and inefficiency in the government sector.	●        Financial Management – Prasanna Chandra - Chapter – 35 – Corporate Governance ●        Website of RBI and Internet
●        Alternate source of finance, private and social cost-benefit, Public-Private Partnership.	●        Website of RBI and Internet
●        Numerical Topics from Prasanna Chandra	●        Time Value of Money – Chapter – 6 ●        Ratio Analysis – Chapter – 4, 5 ●        Valuation of Bond, Equity – Chapter  – 7 ●        Risk & Return – Chapter – 8 ●        Portfolio Theory and Asset Pricing Model – Chapter – 9 ●        Cost of Capital – Chapter - 14

II. RBI Grade B Books for Economic & Social Issues

Following books are recommended for the preparation of the Economic & Social Issues section of the RBI Grade B Exam:

●        Indian Economy by Uma Kapila

●        Indian Economy by Mishra & Puri

●        Growth & Development: Devraj Ray

●        Sociology: C.N. Shankar Rao

In the table below, we have covered the sub-topics of this section as well as the sources which one can refer to for their preparation:

Name of the Topics	Books/ Source to be referred
●        Growth and Development –Measurement of Growth: National Income and Per-capita Income	Basic Concepts ●        Indian Economic Development – Class XI: Chapter -2 (Indian Economy) ●        Introductory Macroeconomics – Class XII Chapter – 2 (National Income Accounting)  Advanced Concepts ●        Ramesh Singh: Chapter – 1 and 2 (Introduction, Growth, Development & Happiness)
●        Poverty Alleviation and Employment Generation in India	Basic Concepts – ●        Indian Economic Development – Class XI Chapter – 4 - Poverty Chapter- 5 - Human Capital Chapter - 7 - Employment  Advanced Concepts - ●        Indian Economy Performance and Policies by Uma Kapila Chapter-1- Economic Development Chapter -10-Unemployment and Empowerment Chapter -11-Poverty in India
●        Sustainable Development and Environmental Issues	Basic Concepts - ●        Indian Economic Development – Class XI Chapter 9 – Environment and Sustainable Development  Advanced Concept - ●        Indian Economy by Ramesh Singh Chapter -19-Sustainability & Climate Change Or ●        Indian Economy Performance and Policies by Uma Kapila Chapter -2-The Environment & Development
●        Economic Reforms in India – Privatization – Role of Economic Planning. Globalization – Opening up of the Indian Economy	Basic Concept ●        NCERT- Indian Economic Development Class XI Chapter-3- Economic Reforms since 1991  Advanced Concept - ●        Indian Economy by Ramesh Singh ●        Chapter - 6 - Economic Reforms
●        Industrial and Labour Policy	Advance Concepts - ●        Indian Economy by Ramesh Singh Chapter -9 -Industry & Infrastructure Or ●        Indian Economy Performance and Policies by Uma Kapila Chapter – 18 - Industrial Growth and Policy
●        Monetary and Fiscal Policy	Basic Concept ●        Introductory Macroeconomics – Class XII Chapter – 5 - Government Budget and The Economy  Advanced Concepts ●        Indian Economy by Ramesh Singh Chapter - 11- Indian Financial Market Chapter – 18 - Public Finance in India
●        Balance of Payments, Export-Import Policy	Basic Concept ●        NCERT- Introductory Macroeconomics - Class XII Chapter - 6.1 –BoP Advance Concept ●        Indian Economy by Ramesh Singh Chapter – 15 - External Sector of India ●        Indian Economy Performance and Policies by Uma Kapila Chapter – 25 - BoP
●        International Economic Institutions – IMF and World Bank – WTO – Regional Economic Cooperation.	Advanced Concepts - ●        Indian Economy by Ramesh Singh Chapter - 16- International Economic Organizations & India
●        Multiculturalism – Demographic Trends – Gender Issues – Social Justice: Positive Discrimination in favor of the underprivileged – Social Movements – Human Development – Social Sectors in India, Health and Education.	●        Indian Economy by Ramesh Singh Chapter – 20 - Preparing for the Demographic Dividend Chapter – 21 - Human Development in India
●        Social Structure in India – Urbanization and Migration – Social Justice – Social Movements – Human Development – Social Sectors in India	●        NCERT- Class XII--Social Change and Development in India Chapter-8 - Social Movements
●        Indian Political System	●         NCERT- Indian Constitution at Work Political Science Class 11 & Political Science-2 of Class 12
●        Other Topics	●        Budget 2018-19 ●        Economic Survey 2017-18. ●        Indian Year Book 2018. (Selected Chapters) ●        Socio-Economic and Caste Census 2011 ●        International Summits & Central Govt. Schemes/ Initiatives ●        Regular revision of Current Affairs.

III. Reports & Other Sources for RBI Grade B

●        Economic Survey of India

●        World Development Report

●        Union Budget

●        RBI’s Annual Report

●        Sample question papers by RBI. This will give you an idea of both the nature &  the difficulty level of questions asked.

●        FAQ Section of the RBI website

●        Investopedia Website

●        Phase 1 is about time management. They have 120 minutes for 200 questions on four subjects which are Quantitative aptitude, Reasoning, English, and General Awareness.

●        If you have never prepared for the IBPS/SSC/CAT/MAT type exam, invest 60–70% of the time in phase 1 preparation.

●        Plan to score more in General Awareness as it is 40% of the exam and all 80 questions can be attempted in minimum time. General Awareness questions are more from Economy, banking, finance and social issues & all these topics are even part of the main exam.

●        The minimum cut off mark is something you definitely need to score in every section, so plan well.

●        Sectional timing is also introduced this time in the preliminary exam.

●         The syllabus is not lengthy but yes it is very diverse. You need to learn the fundamentals of varied topics.

●         The exam requires a conceptual understanding of the topics given in the syllabus.

●         While studying, the topics may appear simple but when options are there to choose from, one might get confused.

●        Writing ability is very important for an English paper which carries 100 marks for which reading editorial becomes a must.

●        Now you have to prepare for objectives as well as descriptive as the exam pattern has changed this year.

●        You have to work on your writing skills as well.

●        Time Table for preparation. It should be made as per your ability.

●        Check the latest syllabus and exam pattern. RBI Grade B paper always follows an updated pattern.

●        Make hand notes: Regularly make notes for the Exam, so that you can easily understand and revise the previous topics.

●        Know your strengths and weakness. Check your weakness and work hard to remove weak points in the study. Manage time to solve the hard and easy topics in your syllabus.

●        Set achievable targets for yourself, like studying 4 comprehensive topics in an hour, or 7-8 small topics in an hour. This will boost your speed as your mind will not feel overtaxed.

Use flashcards. This is another great tool that will let you revise anytime, anywhere, and with ease! Make flashcards of important dates, events, and keywords to keep your memory fresh.

The best answer is ‘it depends. 5 months or 5 years, beyond a limit, time spent on the preparation will not result in success if the strategy is not right. However, there are many who clear the RBI Grade B exam with 3-4 months of preparation.

RBI Grade B is quite a unique exam divided into Phase 1 and Phase 2 requiring different preparation. Though only the marks of the phase 2 exam and interview are counted for the final selection, all your knowledge of Economics, Finance, and Management remain unused if you don’t clear Phase 1. Similarly, clearing Phase 1 is a waste of effort if you are not preparing for Phase 2 right now.

In the limited time, we shall focus only on what is required to be studied. It is not right to try to cover everything under the sun as they will never be able to complete the syllabus and won’t be able to retain it either.

The exam requires you to understand the basics of economics (macro), finance, banking, and organisational behaviour. However, in the exam, a large number of questions come from the factual information that you need to study current affairs from newspapers, magazines, and other standard publications.

●        If you think that only people with a strong finance background clear this exam: Not true at all. People with journalism as a background are also selected in this exam. Read the RBI Grade B eligibility criteria for details.

●        If you think that people from IITs and IIMs grads are preferred then you are wrong. There is not any preference given to anyone. That's a myth. Everything depends on your Phase 1, 2, and interview marks.

If you focus on Phase 1 for now and then on Phase 2, you will be making a big mistake.

1.Does the RBI recommend books for the RBI Grade B exam?

No, RBI does not recommend any book for the RBI Grade B exam. RBI Grade B books play a pivotal role in a candidate's preparation journey. It is advised to go through trusted websites for the best books for the RBI Grade B exam. Your strategy and quality content both matters while preparing for the exam. You can check various books suggested by our experts for each section and can have a detailed strategy for your preparation.

2.Where can I find the best books for the RBI Grade B exam?

Here you can get a detailed list of the best books preferred by toppers for the RBI Grade B exam. Best books for RBI Grade B exam and focused preparation go hand in hand. You need to prepare well for the quality content that will be provided to you. Plan your strategy according to the time left for your exam and make time for mock tests and practice papers. Also, don't forget to figure out our weaknesses and divide your time accordingly.

3.How to choose the best book to prepare for the RBI Grade B exam?

Since there is a plethora of books available in the market. Thus, it becomes important to choose the study material wisely. Therefore, refer to the list of books provided here by our experts to prepare for the RBI Grade B exam hassle-free. Always make sure to go through the classic books to clear your concepts as they will help you tremendously in clearing your basic concepts.

4.Which subjects are covered under the RBI Grade B Phase 1 exam?

Phase 1 of the RBI Grade B exam is qualifying in nature and is divided into three sections. The subjects covered under the RBI Grade B Phase 1 exam are English language, reasoning ability, quantitative aptitude, and general awareness.

5.Which subjects are covered under the RBI Grade B Phase 2 exam?

Candidates who qualify the phase 1 are only eligible for phase 2. The subjects covered under the RBI Grade B Phase 2 exam are economic and social issues, English (writing skills), and finance & management.