RBI Grade B Success Story: How Mr. Charugundla Cracked the RBI Exam With Self-Study

Charugundla Sai Gireesh, a determined individual from Vijayawada, Andhra Pradesh, has cracked the prestigious RBI Grade B exam. His accomplishment is particularly noteworthy because he achieved it through self-study only, proving that dedication and a strategic approach can pave the way for success.

In this article, he shares his experience, the difficulties he faced, his motivations and fears, his reasons for leaving his job, and the strategy that helped him crack the RBI Grade B exam.

Background

• Cracked CA in 2017
• UPSC aspirant (since 2019)
• Worked at E&Y (2017-2018)
• Left E&Y for full-time UPSC preparation
• Reached interview stages: SEBI Grade A & RBI Grade B (2022)

Brief Introduction

In 2022, I narrowly missed the RBI Grade B exam by just a few marks, landing on the waiting list. However, fueled by the confidence in my strong foundation in CA and my past experience with UPSC preparation, I believed I could crack the RBI Grade B exam in 2023. With the same confidence, I appeared for the 2023 exam and successfully cracked it.

How EduTap Helped Me in RBI Grade B Exam Preparation?

EduTap played a critical role in my successful journey towards cracking the RBI Grade B exam. Their mock interviews were incredibly helpful in preparing me for the real thing. Throughout my preparation, I thoroughly followed the EduTap Telegram channel, which provided invaluable resources for grasping key concepts. EduTap’s crisp and concise study notes were a lifesaver, allowing me to understand various concepts efficiently.

In addition, I regularly followed Kritika Ma’am’s insightful YouTube Finance classes; Finance 360°. Through this platform, I would like to express my sincere gratitude to her for providing detailed explanations of even the most challenging financial concepts. This way EduTap helped me in my RBI Grade B preparation and ultimately helped me achieve my goal.

Why I Focused on the RBI Grade B Exam?

For eight short months, I worked as a CA at E&Y. However, the chartered accountant path didn’t bring me the satisfaction I craved, and I knew I couldn’t continue down that road. During this time, I reconnected with a friend who shared his vision of preparing for UPSC civil services. His passion sparked a shift in my own goals, leading me to transition from CA and focus on the UPSC exam.

In 2021, I took the UPSC Mains exam, but unfortunately, I didn’t qualify. After that, I needed a break and decided to visit my friends in Hyderabad. While spending time with them, they posed a question that would significantly impact my future: “Why not try for the RBI Grade B and SEBI Grade A examinations?” They introduced me to these career paths, and I researched a bit about these exams. That experience planted the seed of a Plan B, but it wasn’t a complete shift. Instead, I began preparing for the RBI Grade B and SEBI Grade A concurrently with my UPSC preparation.

Why I Decided to Quit My Job?

In 2017, joining E&Y felt like a dream come true. I was eager to learn how the Big Four organizations manage tight audit deadlines and achieve effective results. So, after qualifying as a CA, I decided to join one of them. However, after eight months, I felt I had a good grasp of their methods and craved a different kind of satisfaction. I wanted to contribute to the betterment of society, which is why I decided to pursue government jobs through the UPSC exam.

My RBI Grade B Journey

From 2018 onwards, I’ve been dedicated to UPSC preparation, which continues to this day. In the meantime, I took the UPSC civil services exam four times. In 2021, I passed the Prelims and reached the Mains, but unfortunately, I didn’t qualify for the interview. That was a low point for me.

Seeing my disappointment, a few friends suggested exploring regulatory exams like the RBI Grade B and SEBI Grade A. In 2022, I took both of these exams. I reached the interview Phase but didn’t make it to the final list. Determined, I tried again in 2023, and thankfully, I cracked the RBI Grade B exam!

My Motivation

The idea of a government job was back in my mind somewhere while doing job at E&Y. Due to my friend’s influence, I became aware of the UPSC exam. Perhaps it originated from meeting the GST commissioner and an Income Tax commissioner during my CA articleship. I dreamt of becoming a GST or Income Tax commissioner, but I had no clue how to enter that field.

However, after qualifying as a CA and during my job, a friend mentioned that aspiring for IRS, IPS, or other similar positions required clearing the UPSC exam. I started researching about the UPSC and felt motivated by the success stories I encountered. This newfound enthusiasm for the UPSC ultimately led me to switch paths from CA to focus on the UPSC exam.

I had done MEC in my 10th and 12th standards and qualified CA-CPT examination in the first attempt. This success fueled my confidence, making me believe I could crack the UPSC in a short time. This belief led me to quit my job at E&Y. However, after four attempts I didn’t crack the UPSC examination. That was a shock for me. 

I got 9th All India Rank in CA-CPT and 45th in the finals. With this mindset, I thought I could clear the UPSC within two or three attempts. 

Support of my Parents

My parents also supported my decision. They knew I wouldn’t waste time or money, and they had a lot of confidence in me. So, I told them I would take a break from the UPSC for about two years. I explained that I would pursue an alternative plan B by cracking the RBI Grade B exam and then refocus on the UPSC later. They were convinced by my plan and said, “Okay, whatever you want to do, you do. No problem.”

My First Failure

The initial failure in the UPSC, however, was my first taste of defeat in my academic journey. This initial failure left me feeling low and unsure of how to overcome it. But upon reviewing the statistics and talking to friends, I gained a new perspective. I recognized that the UPSC is a highly competitive exam, and success relies not just on my preparation but also on how others perform. My friends encouraged me not to take it more seriously and to keep trying for another two or three attempts. After all, with my CA qualification, I could always return to other options.

This newfound confidence fueled my determination for the next two to three years. The motivation from my family and friends kept me going even after my initial failures. 

Switch from UPSC to RBI Grade B

Until the 2021 UPSC Mains, I wasn’t aware of the RBI Grade B exam. My focus was solely on clearing the UPSC or returning to my CA career. However, a friend introduced me to the RBI Grade B opportunity, which shifted my perspective. Since 80% of the RBI Grade B syllabus overlapped with the UPSC, I had already covered the majority of the syllabus from my UPSC preparation. 

However, I did adjust my preparation strategy to align with the specific requirements of the RBI Grade B exam. As my UPSC optional subject was already accounts and management, so, management was also a familiar subject for me.

Difference Between UPSC and RBI Grade B Preparation Strategy

In my first attempt at the RBI Grade B exam, I mistakenly assumed the objective questions would be similar to the UPSC format. That led me to underestimate the level of detail required in my preparation for the RBI’s objective section. When I saw the actual RBI Grade B exam paper, I realized they asked very specific and detailed questions. Unfortunately, because I hadn’t prepared thoroughly, I didn’t score well on the RBI objectives. That’s why I didn’t find my name on the final list.

However, after understanding the mistakes I made on my first attempt, I made significant changes for my second attempt. I focused heavily on preparing for the objective sections of ESI and Finance and Management. That involved thoroughly reading scheme details, studying in-depth, and practicing a significant amount of objective-style questions. By recognizing and correcting my initial mistakes, I was able to improve my performance in the second attempt. I incorporated daily practice sessions, tackling 20-30 objective questions each day. The consistent practice helped me overcome my fear of objective questions in the final exam.

Also, while the UPSC format only requires writing 150-250 words, the RBI Grade B exam demands 400-600 words. However, I felt confident in my knowledge base. Regardless of the question length (150, 250, 400, or 600 words), I was confident in adapting my writing to the requirement. So, I didn’t set any limitations on my writing style. Instead, I prioritized content acquisition and knowledge building, which I then applied effectively in the RBI Grade B exam.

My Source of Guidance for RBI Grade B Preparation

In the past, I prepared very thorough notes for the UPSC exam. Because of these notes, I reached the interview stage in my first attempt. I believed that by refining my existing notes, focusing more strategically on objective questions, and leveraging my strong foundation, I could achieve success in the RBI Grade B exam. 

This self-motivation led me to forgo coaching due to limited time constraints. With the RBI notification arriving in May, coinciding with my UPSC Prelims, I relied heavily on my UPSC notes and strategically prepared for the RBI’s objective section.

Why I Chose Self-Study for the RBI Grade B 

Let me clarify this with an example of one of my friends who also took the RBI Grade B exam. He didn’t clear the RBI Grade B Phase 2 and scored around 120 marks. Unlike me, he hadn’t prepared for the UPSC before. He thought he could clear Phase 2 alongside me, but unfortunately, it didn’t work out for him.

Earlier, I suggested to my friend to consider institute materials for RBI Grade B preparation because they offer guidance, daily schedules, and strategic preparation. They can help him identify his weak areas to focus on, which can be very valuable. However, he didn’t go for guidance. That’s why he wasn’t able to clear the RBI Grade B Phase 2. 

For my fellow aspirants, it is important to understand that our situations were different. For those who lack a UPSC background or similar preparation, coaching, and guidance, coaching will definitely be helpful for a strategic approach.

However, despite having the advantages of my UPSC and CA background, I still had to put in a lot of hard work to crack the RBI Grade B examination.

My RBI Grade B Phase 1 Preparation Strategy

While the UPSC has challenging questions, not everything is difficult. However, the RBI exam heavily emphasizes Quantitative Aptitude and Reasoning. The puzzles can be very information-dense, and the Quantitative questions require a strong grasp of concepts.

Initially, before joining MBC, I joined MPC for two months because I was very enthusiastic about cracking the IIT JEE. Math was one of my favorite subjects, and that kind of attitude towards quant and the UPSC Quant preparation has helped me clear the RBI Grade B Quant.

My First RBI Grade B Phase 1 Attempt

Even though the QRE cut-off was very low, it was still one of the most challenging sections. I initially thought I wouldn’t clear the RBI Grade B Phase 1. In previous attempts, like 2020 or 2021, the cut-off was around 40-50%. In my first RBI Grade B attempt in 2022, I doubted my ability to even reach the 50% mark in the QRE section. Honestly, I wasn’t optimistic about clearing the RBI Grade B Phase 1.

However, to my surprise, when the results came out, I saw my roll number in the list. Thinking the cut-offs must have been incredibly low, I checked them and found it was only 20%. Fortunately, with just 10-12 days of preparation, I was able to revise the RBI Grade B Phase 1 syllabus and successfully qualify it.

My Second RBI Grade B Phase 1 Attempt

During my second attempt at the RBI Grade B exam, I realized that the cut-offs would likely be low. That made me understand that strategically choosing questions was crucial. I needed to focus on areas where I could score accurately. So, in my second RBI Grade B attempt, I first reviewed all the questions I felt very confident about and could answer accurately. Since I expected the cut-off to be around 15-20%, I prioritized accuracy and strategically selected the questions I could answer with certainty.

Moreover, I didn’t focus on any specific books other than UPSC materials in both the RBI Grade B attempts.

My RBI Grade B Current Affairs Strategy

I focused on preparing for the past six months of current affairs. I selected specific institute books and thoroughly revised them twice. This approach helped me score between 40 to 50 marks in current affairs. By relying solely on these institute books, I was able to successfully clear the General Awareness section. I didn’t utilize any magazine subscriptions or other resources; these monthly institute books were my sole source of preparation.

My RBI Grade B Preparation Daily Schedule 

Before starting to prepare for any exam, I used to create a schedule at the beginning of every month. This schedule included my weekly, monthly, and even daily plans. Within the daily schedule, I would break down time intervals to ensure I could fit in studying, playing some quality time with friends like badminton or cricket, and getting enough sleep. The key was making sure I could complete everything within the allotted timeframes. I continuously prepared for 8 to 10 hours daily for the RBI Grade B exam preparation. 

In RBI Grade B Phase 1, I focused heavily on General Awareness (GA). I reviewed the institute books a couple of times, but I knew I needed to score well in GA to clear the overall cut-off. Since I anticipated a low cut-off, I strategically chose questions to maximize my score and clear the RBI Grade B Phase 1.

Moving on to RBI Grade B Phase 2, I relied on revising my UPSC books and other materials I had gathered. This strategy proved successful, and I was able to clear RBI Grade B Phase 2 as well.

How I Overcame Self Doubts

I lived with friends who worked full-time. They had a set schedule, with weekdays dedicated to work and weekends for leisure. During that time when I saw my friends were enjoying their free time, I sometimes questioned my decision to leave my job. However, a different thought would always come to mind. I remembered that achieving goals often requires sacrifices. Recalling this kept me motivated and helped me overcome those moments of doubt.

Anyone with a humble background could clear this exam. It’s not just the top scorers who succeed. Discipline and dedication to preparation are the keys. I’ve seen people in the 2023 and 2022 batches who weren’t academically the strongest, but they cleared the exam because of their discipline and persistent effort.

My RBI Grade B Interview Strategy

In the RBI Grade B interview, the panel also asked me questions about my CA background. They inquired about specific areas I tackled during the E&Y and Nissan audits. Additionally, they asked me to explain how I would approach certain situations, what the “Big Four” are, and the difference between Big Four and mid-sized firms. These are some of the questions I encountered during my RBI Grade B interview.

I was quite nervous before going in for the interview. I had reached the RBI Grade B interview stage last time too, but unfortunately, I wasn’t able to clear it. I got only 31 out of 75. That feeling of coming close but losing the opportunity made me nostalgic when I was waiting for the interview in 2023.

However, I managed to control myself. I kept telling myself it was okay. Even if I didn’t clear it, I could always return to my CA career or explore other options. So, I kept reminding myself not to be nervous or appear anxious. And you know what? I was able to stay calm! And this time I managed to score 51 marks out of 75.

After the last interview, I also applied for other examinations, such as DDA, BDA, etc., and cleared all these examinations. Even after selection in these examinations, I did not relax for the RBI Grade B interview. My focus was clear that I needed to clear the RBI Grade B exam.

How I Managed the RBI Grade B Syllabus Change

When the RBI changed the syllabus of the RBI Grade B exam, they added new topics to Finance, including ratios and analysis, balance sheets, and cash flow statements. Since these were already strong areas for me, I felt I wouldn’t need to put in as much effort compared to other students. This positive attitude towards the change in the RBI Grade B syllabus proved to be beneficial for me.

Final RBI Grade B Result

When the RBI Grade B result came out, I was on my way back to the training hostel from the sales office. Everyone was buzzing about the results on WhatsApp, so I asked my friend to pull over so I could check mine. I started scrolling through the list, going through each and every number. 

At first, I looked through the first 100 numbers, but I couldn’t find mine. I was losing my confidence as there were only 122 roll numbers left, and I wasn’t sure if mine would be among them. But luckily, after what felt like forever, I found my number, around 114 or 115, in the PDF. After seeing my roll number, and what I felt, I cannot describe those emotions.

After I got selected, I called my mom. She was overjoyed and immediately asked for a video call. I called right away, and she was crying happy tears. After five or six long years of preparation, she was so thrilled to finally see me achieve my goal.

RBI Grade B Preparation Tips

Here is my advice to the future aspirants who are preparing for the RBI Grade B Exam very sincerely:

1. If you are aiming to crack this exam, putting in hard work is definitely necessary. Hard work will always be followed by luck, but relying solely on luck wouldn’t be enough.
2. If you are not putting in the required effort and are completely relying on luck, then success won’t be achievable.

Here is a video in which Charugundla Sai Gireesh explains his RBI Grade B preparation strategy.

Conclusion

Charugundla Sai Gireesh’s successful RBI Grade B journey is a testament to the power of perseverance and strategic preparation. Despite initial setbacks, he never lost sight of his goal and achieved his dream by leveraging his existing knowledge, adapting his approach, and maintaining a disciplined schedule.

His story serves as a valuable resource for future RBI Grade B aspirants. His advice on hard work, strategic planning, and a positive mindset can guide others on their path to success.