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RBI GRADE B Subject - Wise Books for Exam Preparation 2021

Updated On -

Nov 15, 2020

Excellent books for RBI Grade B will be a benefit for exam preparation. As the exam is one of the most competitive banking exams in the nation, it becomes essential to prepare well. Therefore, there is no lack of the best books for preparation. However, choosing the most beneficial books can be a tricky task for the candidates. Most of the candidates get puzzled when it comes to the purchasing of books. Experts advise candidates to choose books that are easy and uncomplicated. Further in the article, the list of RBI Grade B books for different phases of the exam and subjects is covered.

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Grade B Books

Section-wise Essential Books/Resources for RBI Grade B

Based on an out-and-out analysis of last year’s RBI Grade B question paper, a large number of the questions asked in the section of Economics & Social Issues were from the following references:

  • The Economic Survey of India
  • Concept-based (Books)
  • Basic knowledge (NCERT)
  • The Budget Document
  • Newspapers (Current events, factual in nature)
  • Press Information Bureau

The maximum of the questions was based on numbers, facts, figures, and percentages. Accordingly, based on last year’s question paper of RBI Grade B, we settled that the following are the three most essential sources for the preparation of this exam:

  • The Union Budget
  • The Hindu Newspaper
  • The Economic Survey of India

Nevertheless, as the RBI Grade B Exam is changeable, candidates need to have an in-depth knowledge of the topics, apart from the references mentioned above. So, to assist candidates in the better preparation of this exam, the important books for RBI Grade B Phase-II & Phase-I exam preparation are covered.

Grade B Phase 1 Tips

Best Reference Books for RBI Grade B Phase-I Exam 2021 Preparation

Candidates can follow the books mentioned below for the Phase-I preparation of RBI Grade B exam 2021:

Category of the Books Best reference books for Preparation
English Language
  • High School English Grammar and Composition by Wren and Martin
  • Objective English by S. P. Bakshi
Quantitative Aptitude
  • Fast Track Objective Arithmetic by Rajesh Verma
  • Quantum CAT by Sarvesh K. Verma
  • Magical Book on Quicker Maths by M. Tyra
Reasoning Ability
  • Analytical Reasoning by M. K. Pandey
  • A modern approach to Verbal and Non-Verbal Reasoning by R. S. Aggarwal
General Awareness
  • Manorama Yearbook (latest edition)
  • Monthly magazines.
  • Kurukshetra Magazine
Grade B Phase 2 Tips

Best Reference Books for RBI Grade B Phase-II Exam 2021 Preparation

I. RBI Grade B Books for Finance & Management section

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

  • Indian Financial System by M.Y. Khan
  • T.S Grewal -Accounting Ratio
  • Principles of Management by P.C Tripathi
  • Indian Financial System by Bharti V Pathak
  • S. P. Robbins/TN Chhabra- Organisational Theory

In the following table, the sub-topics of this section along with the sources. Which candidates can refer for their preparation are mentioned:

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

II. RBI Grade B Books for Economic & Social Issues section

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

  • Growth & Development: Devraj Ray
  • Indian Economy by Uma Kapila
  • Sociology: C.N. Shankar Rao
  • Indian Economy by Mishra & Puri

In the following table, the sub-topics of this section along with the sources. Which candidates can refer for their preparation are mentioned:

Category of the Book Best reference books for Preparation
Sustainable Development and Environmental Issues Fundamental Concepts -
  • Indian Economic Development – Std XI
    Unit 9 – Environment and Sustainable Development
Advanced Concept -
  • Indian Economy Performance and Policies By Uma Kapila
    Unit -2-The Environment and Development
  • Indian Economy by Ramesh Singh
    Unit -19-Sustainability & Climate Change
Growth and Development –Measurement of Growth: National Income and Per-capita Income Fundamental Concepts
  • Introductory Macroeconomics – Std XII
    Unit– 2 (National Income Accounting)
  • Indian Economic Development – Std XI: Unit -2 (Indian Economy)
Advanced Concepts
  • Ramesh Singh: Unit – 1 and 2 (Introduction, Growth, Development, and Happiness)
Economic Reforms in India – Privatization – Role of Economic Planning. Globalization – Opening up of the Indian Economy Fundamental Concept
  • NCERT- Indian Economic Development Std XI
    Unit -3- Economic Reforms since 1991
Advanced Concept -
  • Unit - 6 - Economic Reforms
  • Indian Economy by Ramesh Singh
Poverty Alleviation and Employment Generation in India Fundamental Concepts –
  • Indian Economic Development – Std XI
    Unit – 4 - Poverty
    Unit - 5 - Human Capital
    Unit - 7 - Employment
Advanced Concepts -
  • Indian Economy Performance and Policies By Uma Kapila
    Unit-1- Economic Development
    Unit-10-Unemployment and Empowerment
    Unit -11-Poverty in India
Monetary and Fiscal Policy Fundamental Concept
  • Introductory Macroeconomics – Std XII
    Unit – 5 - Government Budget and The Economy
Advanced Concepts
  • Indian Economy by Ramesh Singh
    Unit - 11- Indian Financial Market
    Unit – 18 - Public Finance in India
Multiculturalism – Demographic Trends – Gender Issues – Social Justice: Positive Discrimination in favor of the impoverished – Social Movements – Human Development – Social Sectors in India, Education, and Health. Indian Economy by Ramesh Singh
Unit – 20 - Preparing for the Demographic Dividend
Unit – 21 - Human Development in India
Industrial and Labour Policy Advance Concepts -
  • Indian Economy by Ramesh Singh
    Unit -9 -Industry and Infrastructure
  • Indian Economy Performance and Policies By Uma Kapila
    Unit – 18 - Industrial Growth and Policy
Social Structure in India – Social Justice - Urbanization and Migration – Social Movements – Human Development – Social Sectors in India NCERT- Std XII--Social Change and Development in India
Unit -8 - Social Movements
Balance of Payments, Export-Import Policy Fundamental Concept
  • NCERT- Introductory Macroeconomics - Std XII
    Unit - 6.1 –BoP
Advance Concept
  • Indian Economy by Ramesh Singh
    Unit – 15 - External Sector of India
  • Indian Economy Performance and Policies By Uma Kapila
    Unit – 25 - BoP
International Economic Institutions –World Bank and IMF – WTO – Regional Economic Cooperation Advanced Concepts -
  • Indian Economy by Ramesh Singh
    Chapter - 16- International Economic Organizations & India
Indian Political System NCERT- Indian Constitution at Work Political Science Std 11 & Political Science-2 of Std 12
Additional Topics
  • Budget 2019-2020
  • Economic Survey 2018-2019.
  • Indian Year Book 2018. (Selected Units)
  • Socio-Economic and Caste Census (latest)
  • International Summits & Central Govt. Schemes/ Initiatives
  • Regular revision of Current Affairs.

III. Reports & Other Sources for RBI Grade B

  • Economic Survey of India
  • Union Budget
  • World Development Report
  • RBI’s Annual Report
  • Example question papers by RBI. (This will accommodate candidates with a view of both the essence & the difficulty level of questions asked.)
  • FAQ Section of the RBI website
  • Investopedia Website
Grade B FAQs

FAQ’s

Ques. Do coaching institutes provide study material sufficient for RBI Grade B preparation?

Ans: The coaching institutes grant complete and thorough study material for RBI Grade B preparation. However, it is advised not to rely on them fully and to refer to at most two other recommendation books.

Ques. Which books are the most beneficial for Quantitative preparation?

Ans: Candidates can refer to:

  1. Magical Book on Quicker Maths by M Tyra (latest edition)
  2. Quantitative Aptitude for Competitive Examinations written by R S Agarwal

Ques. Do RBI Grade B books carry solved sample question papers?

Ans: Some of the books include solved sample question papers. Candidates are recommended to go through the book and check before purchasing.

Ques. Which are the excellent books for Economic and Social Issues?

Ans: Some highly recommended books for RBI Grade B Economic and Social Issues are

  1. Indian Economy: Uma Kapila (Series of Books),
  2. Indian Economy: Mishra Puri. (Latest Edition)
  3. Growth And Development: Devraj Ray

Ques. Which magazines and bulletins can be used for RBI Grade B?

Ans: The magazines and bulletins can candidates can refer are listed as follows:

  1. Economic and Political Weekly
  2. Southern Economist
  3. Yojana
  4. Business India
  5. RBI Bulletins.

Ques. Which books to refer for the Reasoning section?

Ans: Candidates can refer to Verbal and Non-Verbal Reasoning by RS Aggarwal, Analytical Reasoning by MK Pandey.

*The article might have information for the previous academic years, please refer the official website of the exam.

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