RBI Grade B Success Story: Ms. Shruti Cracked the RBI While Working Full-Time

This is the story of Ms. Shruti Srivastava. She scored a 98 percentile in the CAT but went on to prepare for the IBPS PO exam and became a probationary officer at the Bank of India. Later, she joined the State Bank of India as a PO and ultimately cracked the RBI Grade B exam while working full-time at the SBI.

In this article, Shruti shares her strategy and resources that helped her crack the RBI Grade B exam in her third attempt.

Background

• Earned a bachelor’s degree in mathematics 
• Considered pursuing an MBA 
• Attempted the CAT twice and scored 98 percentile
• Shifted focus to Bank PO exams due to job security and salary structure
• Cracked the IBPS PO exam in my first attempt and joined the Bank of India as a Probationary Officer in 2019
• Cracked the SBI PO exam and joined the State Bank of India as a Probationary Officer 
• Was working at the SBI as a PO at the time I cracked the RBI Grade B exam

Brief Introduction

I completed my bachelor’s degree in mathematics, which also fostered an inclination towards finance, given that it involves a lot of calculations. Some of my graduation subjects included economics and financial management. This led me to consider pursuing an MBA, and I began preparing for the CAT exam. 

I took the CAT twice, utilizing various online resources for coaching. I scored 98 percentile and also got converted into some of the new IIMs, such as the Indian Institute of Management Ranchi. The average compensation package there was around 18 lakhs CTC. However, I eventually understood the difference between in-hand salary and CTC. 

As a result, I decided it would be more beneficial to prepare for Bank PO exams, which offered similar salary packages with the added benefit of job security.

Subsequently, I took the IBPS PO exam and cleared it on my first attempt. This led to my appointment as a probationary officer at the Bank of India in 2019. After a year and ten months of experience, I left the Bank of India and joined the State Bank of India as a probationary officer. After completing almost one and a half years with SBI, I cracked the RBI Grade B exam.

How I Faced Rejections

Rejection is a tough pill to swallow, and I’ve had my fair share. It can be incredibly difficult to bounce back, but it’s crucial. In order to face rejection, you need to ask yourself: “Do I truly want this?” If the answer is a resounding yes, then keep pushing forward. If not, it might be time to re-evaluate your goals.

This introspection was important when I received rejections from prestigious MBA colleges like IIM Ranchi and IIM Shillong. Taking a step back, I analyzed my reason for pursuing an MBA. The answer was that I just wanted a decent CTC. Then I realized it’s better to pick something better with job security. 

During this time, friends and family asked about my plans if I didn’t clear the RBI Grade B exam. Instead of letting doubt creep in, I channeled that energy into even more focused preparation for the exam.

My RBI Grade B Journey

I cracked the RBI Grade B exam in my second serious attempt. Overall, I have taken it three times, but the first attempt was back in 2017. Back then, I wasn’t even familiar with the RBI and just took the exam for practice since I was preparing for the Bank PO exams. I didn’t realize the prestige associated with the RBI at that time.

My second RBI Grade B attempt came in 2020, during or after the COVID period. That’s when I realized it is very difficult to crack, as many Bank PO aspirants also apply. This realization pushed me to elevate my game for the third attempt.

My first step was to print out the syllabus and meticulously review it. I recognized that Phase 2 was the most crucial aspect of the RBI grade B exam. I went through the syllabus word-by-word, essentially memorizing it. This strategy allowed me to identify any relevant information in newspaper articles or other sources and efficiently absorb it.

Finally, leading up to the RBI Grade B Prelims exam, I firmly believed in the importance of practicing mock tests. Fifteen days before the Prelims, I began taking mock tests, including the free All India Mock Tests offered by EduTap.

CAT vs. RBI Grade B Exam

The logical reasoning section of the CAT exam differed significantly from that of the bank PO and RBI exams. The same held true for the verbal section. The CAT verbal reasoning was undeniably more challenging. However, the verbal reasoning of the bank PO exam was generally quite straightforward.

In my experience, the CAT quant section was fairly easy, but the Bank PO and RBI exams presented moderate quant difficulty. Nevertheless, the CAT preparation built a strong foundation for my RBI Grade B Phase 1 preparation.

My RBI Grade B Phase 1 Preparation Strategy

Here is my subject-wise RBI Grade B Phase 1 preparation strategy:

My RBI Grade B Quant Strategy

Since I already had a solid quantitative foundation from my CAT preparation, I didn’t dedicate any specific time to it. I knew my strengths, particularly arithmetic, where I excelled. Similarly, I had a strong grasp of algebra basics. Understanding my strengths and weaknesses allowed me to tailor my approach. Here’s a crucial tip: never underestimate the importance of arithmetic in these exams.

My RBI Grade B Reasoning Strategy

I feel strong logical skills are essential when tackling reasoning puzzles. The CAT puzzles I encountered back in 2017 were very high-level (not sure about the current difficulty). However, Bank PO and RBI exams tend to have a set of recurring, simpler questions. Take reasoning practice mocks and aim for 4-5 mock tests before the Prelims. This will help you get the hang of it and develop your problem-solving skills.

My RBI Grade B English Strategy

For English, I primarily relied on practicing mock tests.

My RBI Grade B General Awareness Strategy

General awareness was never my strong suit. I realized this during my IBPS and SBI PO exam attempts. I recognized this weakness and shifted my RBI Grade B exam strategy. A few months before the exam, I watched weekly current affairs videos from various coaching institutes. 

Then, in the 15 days before the exam, I focused on a monthly magazine from EduTap. Reading the magazine twice helped solidify my GA knowledge.

Importance of RBI Grade B Phase 1 Mock Tests

EduTap was incredibly helpful with their mock exams. They used to offer three free RBI Grade B Phase 1 mock tests, and I made sure to participate in all three of them. These tests helped me identify challenging questions, allowing me to strategize and avoid wasting time on those particular questions in the actual RBI Grade B exam. 

Since clearing the Prelims was crucial, I took an additional five to six mock exams. Overall, RBI Grade B mock tests were the most valuable tool for developing time management skills across all exam sections.

My RBI Grade B Phase 1 Result

While I don’t recall my exact score, I remember it being very close to the cut-off, likely within one or two marks. 

The Role of Newspapers in my RBI Grade B Preparation

Newspaper reading wasn’t necessarily a part of my initial RBI Grade B preparation strategy. I’ve always enjoyed reading newspapers, but it was more for leisure and exploring random topics. In fact, it wasn’t after my Mains that I started diligently reading newspapers for the RBI Grade B interview. 

Previously, it was more casual, reading articles that caught my eye and skipping others. As a working professional with a busy schedule (10 to 7 office hours), time was a precious commodity. Juggling work and studies left little room for a dedicated newspaper routine, so I didn’t stick to reading newspapers specifically for the RBI Grade B exam.

How I Managed RBI Grade B Preparation With My Job

If you want to achieve something, the motivation comes from yourself. No one else can motivate you. During my first year at SBI, I was posted in Delhi, facing a one-hour commute each way. Instead of viewing this as a time waste, I saw it as an opportunity. I’d leave home at 8:30 am and reach the office by 10:00 am, giving me 1.5 hours each morning to focus on the basics. 

YouTube videos proved to be a valuable learning tool during this time. Weekends were equally important. Forget excessive partying! If your goal is RBI Grade B preparation, use those weekends wisely. Of course, some social interaction is healthy, but prioritize your studies over unnecessary celebrations.

Smart Preparation Strategies

Many coaching institutes work full-time to create high-quality content specifically for exams like the RBI Grade B. Avoid wasting your time reading newspapers to stay updated on current affairs; instead, utilize their resources! 

Monthly magazines from these institutes often provide a concise yet comprehensive overview of current affairs. Focus on the curated information offered by these coaching materials.

Instead of reading newspapers and making notes on current affairs, read monthly current affairs magazines.

My RBI Grade B Phase 2 Preparation Strategy

RBI Grade B Phase 2 consisted of three sections: English, Economic & Social Issues (ESI), and Finance & Management (FM). Since ESI and FM involved a descriptive writing component, I felt this naturally helped prepare me for the English section. 

My RBI Grade B Descriptive English Strategy

For English preparation, I primarily utilized resources on the EduTap YouTube channel. I watched all their videos on essay writing, precis writing, and reading comprehension to understand the types of questions typically asked.

My Precis Approach

In a precis, you need to condense a passage into your own words while staying within the word limit. It’s about identifying key sentences from the passage and rewriting them concisely. However, proper grammar and avoiding spelling mistakes are crucial in Precis writing.

My Essay Approach

For essays, I focused on incorporating real-life examples to strengthen my arguments. For instance, I wrote an essay on women’s empowerment, specifically women’s entrepreneurship. This topic resonated with me because I had recently read about it in the newspaper just before the exam. 

Additionally, working in a bank that provides loans to Self-Help Groups (SHGs) for various purposes, like pickle businesses or farm-based products, provided me with relevant real-world examples. I used these experiences in my essay, highlighting how SHGs exemplify women’s entrepreneurship and empowerment.

To further enhance the impact of my essay, I included another example I found in the newspaper about an 80-year-old woman who had just started her own papad business. I also mentioned Lijjat Papad, a well-known brand, as another successful initiative by a group of women.

My Reading Comprehension Approach

Since I had previously prepared for the CAT exam, I was already familiar with different types of Reading Comprehension passages. This existing knowledge allowed me to avoid spending additional time specifically preparing for the RBI Grade B exam’s RC section.

My RBI Grade B ESI Strategy

Since I came from a non-UPSC background, I had very little knowledge about economics. To address this, I started building my basics. After reviewing the syllabus, I identified that most topics aligned with NCERT Class 11 textbooks. 

I purchased a copy and read it thoroughly. This initial pass provided a basic understanding of key concepts like GDP, GNP, NNP, poverty, and its multidimensional nature. To solidify my knowledge, I re-read the NCERT book multiple times.

How I Prepared Schemes and Reports

For government schemes, I primarily relied on YouTube channels. These channels offered explanations of current and relevant schemes, presented in helpful series. I also referred to the Press Information Bureau (PIB) to supplement this resource.

In the EduTap YouTube video, Kritika Ma’am mentioned six crucial ministries for the RBI Grade B exam, and I focused on those only. Here are the six important ministries:

• Ministry of Agriculture
• Ministry of Finance
• Ministry of Panchayati Raj
• Ministry of Rural Development 
• Ministry of Social Justice
• Ministry of Housing and Urban Affairs

I dedicated two hours per ministry to analyze all their schemes launched in the past six months. This strategic approach proved very beneficial.

Given the vast number of government schemes, I acknowledged the need for a smart preparation strategy for the seemingly endless ESI section. I specifically chose these six ministries because they offered a high return on investment for the time commitment. For instance, by thoroughly studying the Ministry of Social Justice’s schemes, I was well-prepared when the “SMILE” scheme appeared as a question in the RBI Grade B Mains.

How I Revised Schemes and Reports

In addition to the ministry-specific research, I also utilized a valuable resource from EduTap—a concise 30-page PDF document—summarizing all government schemes, reports, and indexes from the past six to eight months. I found this PDF helpful and used it as a revision tool before the RBI Grade B Mains exam.

My RBI Grade B FM Strategy

For the Finance & Management section, I relied heavily on EduTap’s summary sheets, which are readily available on their website. These concise and focused “summary sheets” were perfect for efficient revision. 

After referring to the syllabus, I understood the importance of thoroughly reading these summaries. To maximize retention, I went through them multiple times, two or three readings in total. Here’s where technology came in handy: I used Adobe software to convert the PDFs into audiobooks. 

This strategy proved particularly helpful during the actual Prelims and Mains exams, as, unfortunately, I suffered from a corneal ulcer during that period, which limited my reading ability. Listening to the summaries allowed the information to sink into my subconscious mind.

I stuck to EduTap’s summary sheets even for challenging chapters like organizational behaviour. I firmly believed that mastering everything wasn’t necessary. The goal was to outperform the competition. Focusing on high-yield resources like these summaries strengthened my knowledge, and multiple revisions solidified my understanding.

My RBI Grade B Management Descriptive Strategy

The Management descriptive questions in the RBI Grade B exam were quite direct. The key was to have a solid understanding of various management theories and the ability to recall them effectively when answering questions. Incorporating real-life examples further strengthened my responses. 

As a working professional, I leveraged my own experiences to enhance my writing. For instance, when discussing management theories, I’d explain how managers could apply them in real-world scenarios. These practical examples added depth and credibility to my answers.

My RBI Grade B Finance Descriptive Strategy

The Finance Descriptive section included a question specifically about the global financial crisis. Thankfully, I had anticipated this topic and prepared extensively for it, allowing me to write a well-developed response. 

There was also a question related to either the RBI’s annual report or another report published by the RBI. Fortunately, I had recently read this report and was able to answer it confidently. I read these two specific topics, and fortunately, I got questions from them in the RBI Grade B exam. 

Key Takeaways

Here’s a key takeaway for future aspirants: 

1. Stick to the syllabus.
2. If you find resources for a particular topic difficult, don’t hesitate to use Google for further exploration.
3. Aim for credible sources that go beyond basic explanations.

If you’re fortunate enough to have access to EduTap materials, that would be excellent! They provide high-quality resources. Otherwise, YouTube can be a valuable tool in your search. Remember, the internet offers a vast amount of information: you need to know where to look.

My RBI Grade B Current Affairs Preparation

I just prepared for RBI Grade B Phase 1 current affairs only. Since the RBI Grade B Phase 2 exam allocates 200 marks out of 300 to descriptive sections, I felt it was more important to improve my writing skills rather than revisiting current affairs extensively.

For the ESI section, I focused on static content. While I noted some key points, I didn’t create comprehensive notes. Similarly, for the Finance & Management section, time constraints prevented me from creating formal notes. 

Instead, I adopted a more streamlined approach. I wrote down a specific theory and then just one or two keywords associated with it. This method served as a quick reference point for my memory.

How JAIIB and CAIIB Helped Me Prepare for the RBI Grade B Exam

I successfully completed my JAIIB and CAIIB certifications in my banking career. These exams also helped me significantly in preparing for the RBI Grade B exam. This is because most of the topics covered in the JAIIB and CAIIB programs are also tested in the RBI exam.

How I Covered the RBI Website 

Reading the RBI website wasn’t much of a point until I received an interview call. Honestly, it felt like a waste of time before Phase 2. Instead, focusing on monthly magazines dedicated to the RBI Grade B Prelims and Mains exams proved a more effective strategy. Once the interview stage arrived, the RBI website became a valuable resource for gathering relevant information.

My RBI Grade B Interview Preparation Strategy

With renewed focus, I immediately began preparing for the RBI Grade B interview. My primary resource became the Mint newspaper. I subscribed and diligently read it daily for three months—July, August, and September (the interview was on September 20th). I read Mint daily for one hour. Additionally, I benefited from joining the RBI Grade B interview preparation groups, where members shared important newspaper articles.

I feared giving interviews due to my previous interview rejections from  IIM Ahmedabad and IIM Bangalore. I adopted a new perspective: “If they want me, they’ll take me. If not, then not. But I’ll give my best shot.” This approach helped me prepare for the RBI Grade B interview with a clear mind.

One anticipated question they asked me was, why I switched from the Bank of India to the State Bank of India. Interestingly, the interview panel even presented arguments for why the Bank of India might be preferable! This unexpected turn momentarily convinced me of their perspective.

Despite this minor stumble, I scored 68 marks in the RBI Grade B interview.

My RBI Grade B Mock Interview Experience

Participating in multiple RBI Grade B mock interviews, including those offered by EduTap, proved invaluable. These mock sessions helped me identify both my strengths and weaknesses, allowing me to focus on areas for improvement. 

For instance, the mock interviews revealed that my legal concepts were not up to the mark. I frequently struggled to identify specific RBI Acts related to certain situations. Thankfully, EduTap’s faculty members pinpointed this issue and suggested I should dedicate more time to strengthening my legal knowledge.

Here are some of the questions I recall from the actual RBI Grade B interview:

1. Why didn’t you pursue postgraduate studies?
2. What motivated you to switch from the Bank of India to the State Bank of India?
3. They discussed some of my life decisions.
4. They inquired about my awareness of Nainital, where I was stationed at the time of the interview. Additionally, they dig deeper into my knowledge of Nainital-related issues.
5. From a bank’s perspective, what is more important: deposits or credit?
6. A question regarding State Bank of India’s operating profit.
7. What is the Reserve Bank of India’s tagline?
8. As a banker, what areas do you believe the RBI should prioritize? 
9. They also inquired about the State Bank of India’s initiatives regarding my answer to the previous question.

After the RBI Grade B Results

Even after the results were released, I still couldn’t quite believe it. Despite knowing I’d scored well and comfortably secured a spot in the finals, it felt surreal. Reaching this stage was like being on cloud nine! The feeling of disbelief mixed with pure joy was truly unforgettable.

Here is a video in which Ms. Shruti Srivastava explains her RBI Grade B preparation strategy.

Conclusion

Shruti Srivastava’s successful RBI Grade B story serves as an inspiration for aspiring RBI Grade B candidates. Her journey exemplifies the power of strategic planning, resourcefulness, and unwavering determination, even while managing a demanding full-time job.