We at Ecoholics believe that our results speak for us and this year several aspirants have proven that our teaching style and guidance is unmatched with their top notch results in their RBI DEPR exam.
About RBI DEPR
The RBI sends an official notification every year to hire Grade B personnel for various posts. The Department of Economics and Policy Research is one such position for which hiring is taking place (DEPR). In 2022, there were 31 vacancies for this position which means cutthroat competition but the right strategy and guidance can help you crack this exam easily.
As the title suggests, this position needs you to do economic analysis and research as well as contribute to policy making. The Reserve Bank of India’s EPR is a knowledge centre for macroeconomic policy research. DEPR is in charge of providing research inputs and upgrading management information systems (MIS) for policy-related decision-making on macroeconomic and financial issues. The Department’s research agenda is primarily focused on the Indian economy’s macroeconomic challenges, and it addresses multi-dimensional issues such as monetary policy, growth and inflation dynamics, financial markets, macroeconomic forecasts, the banking sector, financial stability, and external sector management.
Let’s answer some of questions which arise when we think about RBI Grade B DEPR exam
What is the salary for RBI Grade B DEPR?
Working in the central bank can be quite rewarding which makes it worth it to pursue. A better knowledge of the salary and the job profile can motivate you to work harder.
- The salary of RBI Grade B Officers is as per the 7th pay commission.
- Their basic salary on joining is around ₹35,150/- per month.
- The allowances associated with the job are House Rent Allowance, Dearness Allowances, Travelling Allowance, medical allowances, etc.
As we can see the position does pay a handsome amount. Qualifying for RBI DEPR can get you multiple benefits and allowances along with your salary, like dearness allowance, medical allowance, house rent allowance, special allowance etc.
What is the syllabus for RBI Grade B DEPR?
The Reserve Bank of India determines the RBI Grade B syllabus for Phase I. The RBI Grade B test is held by the Reserve Bank of India to hire officers for the General, DEPR (Department of Economic Policy and Research), and DSIM (Department of Statistics and Information) departments. Sample papers, previous year’s question papers and test series can be great to get a good idea of the exam pattern.
What is the structure of the exam ?
RBI GRADE B DEPR is conducted in two important stages. The first stage belongs to phase 1. The second belongs to stage two and the third stage is the interview stage. In this blog, we will focus on phase one of this examination. For learning more about phase two and the interview round download the Ecoholics app and get one-on-one mentorship, live classes, online lectures, and much more.
Phase one of this examination is divided into three important parts, with 62 questions. All the questions are from economics making it a 100 marks paper that you have to attempt in under 120 minutes. The level of difficulty is high as you have to solve tough questions from economics in just 120 minutes. This means you need a lot of conceptual clarity for which you also need to understand the difficulty level of the questions paper.
The paper is mainly constituted of five subjects, which are:
- Micro Economics
- Macro Economics
- Mathematical Economics
The major portion of the paper is composed of these 5 subjects only. Apart from these 5 subjects, there are four more subjects or topics which need your attention to cover up the plot holes in your preparation. These subjects are:
- International Economics
- Growth & Development
- Indian Economy
- Economic surveys
- Current Affairs
- Certain reports of policy
- Financial reports of RBI etc.
The topics given above cover about 8-10 questions only which are asked in the exam. As we discussed above phase one has 62 questions and these 62 questions are divided into three sections. In this section, some questions can be easy while some can be tough. For eg., they ask about the elasticity type of question applied to nature. Where they ask you to calculate the elasticity of a particular event where they will give you a certain type of story and you have to calculate the elasticity. Apart from this income-consumption curve and Hicks and Slutsky are also some very important concepts. Apart from this questions related to growth like Levis model marginal cost, average variable cost, labor supply curve, the backward bending labor supply curve, and CRS are asked.
There are also match the column type of questions where you have to match the theories with the economics to give it. So majorly these kinds of questions are asked in the RBI GRADE B DEPR phase 1 exam.
In section two they start asking questions from statistics, the coefficient, the Karl Pierson coefficient. Apart from this ask about the data of fiscal deficit, like what is the target of the government of India to achieve fiscal deficit, along with this certain factual questions are also asked like targeting years where they ask about the year which India is targeting for making itself a 5 trillion dollar economy. They may also ask the rate of growth India needs to achieve it by the year 20245-25. Some topics you must go through are bank mergers, the world economic outlook, important reports of IMF and world bank, MPC, MPI, convergence and divergence of international trade, insolvency, and bankruptcy code along with questions like what India’s total debt and numerical which will need a lot of practice of the MCQs.
The third section they ask direct questions from statistics, econometrics, and certain tests. Like calculating the t-test where they give you the table value but you need to know the formula to answer the question. Apart from that questions from CLRM, OLS, heteroscedasticity, assumptions of the OLS model, and the Durbin Watson test are also asked. You may also be asked to calculate the rank correlation formula for which you need to remember the formula to solve it. They also give certain kinds of values in the form of half-solved questions where you have to solve them properly to solve it.
Certain questions from research questions will be asked as well because after clearing this exam you get positions in the research department in RBI making it a crucial part of the exam. For applied questions, you need to learn with the help of examples to learn to solve them easily.
Eligibility for RBI Grade B DEPR
Graduation in any discipline/Equivalent technical or professional qualification with minimum 60% marks (50 percent for SC/ST/PwBD applicants) in aggregate of all semesters/years, or Post-Graduation in any discipline/Equivalent technical or professional qualification with minimum 55 percent marks (pass marks for SC/ST/PwBD applicants).
Aspirants with professional or technical qualifications recognised by the government as equivalent to professional or technical graduation will be eligible for admission to the examination, subject to obtaining the minimum marks prescribed above.
Coaching for RBI DEPR Exam
While self preparation may sound like a good idea, good coaching can help you pick up pace and get your way ahead of other aspirants. While going to a coaching can be a task, an online coaching can be something you must consider if you want to crack these exams as a good coaching will guide you in the right direction and provide you with all the tools you need to crack these exams. So if you’re ready to crack these exams a built a successful career in Economics then register with Ecoholics, the one-stop destination for all your learning needs. Study economics the smart way and get an in-depth understanding of this dynamic subject with our holistic approach. Our team of expert faculties help you polish your knowledge and provide you with one-on-one mentorship and doubt-clearing sessions, so you leave no stone unturned when it comes to your preparation. By signing up with us, you can access our live classes, video lectures, test series and get the hard copy of study material delivered to your doorstep, so your preparation never hits a bump!