RBI Grade B: Interview Experience

Disqus name-Rafael Nadal (BE-2014)

Directly to the interview

Firstly some personal questions about family education

M2: You didn't work anywhere why?
Me:Sir i wasn't satisfied with packages i m getting .i worked as freelance website devloper for nearly a year than decided to start preparing for govt job.

M2:In which language you made your websites?

M1:explain RBI and its working?
Me:Told everything

M1: What does IRAC norms mean ? What is/are its significance ?
Me:IRAC norms relate to classification of assets. Accounts with overdues greater than 30 days are classified as SMA1, greater than 60 days, SMA 2 etc.

.M1:What does "provisioning to banks" mean ?
Me:Provision means banks keeping some funds extra to cover sub-standard, stressed assets, etc

M1:what is bond buying program of US? how does it work?
Me:Since the interest rates in the US/Western were already low(near zero), and they had no more room to cut rates to stimulate the economy and prevent it from going into recession, they started buying long term debt, public and private. And this is the bond buying program. Basically they're buying bonds and injecting money into the system so as to prevent recession and promote/boost economic activity. This is how the interest rates have been at an all time low. Also this meant that investors got lower yields for their investments and hence they started shifting their investments to the developing/emerging markets/economies

M1:how can the Reserve Banks just print currency and distribute it?
 Me:the dollar is a Reserve Currency and there shall always be a demand for it. Unless the whole US financial system collapses and there is a run on the economy, dollar and other western currencies will remain strong and the Central Banks can continue the Quantitative easy program

M1:If the interest rates were so low how does it help injecting money in other economies?
the investors get low yields for their investments and hence they want to shift to more attractive destinations even though they are a bit riskier/lax regulations or lax rule of law than the Western economies

I coudn't manage to remember more ..by their expression it was looking they want to here more and more

M1:How do these China economy crisic effects Indian investors?
Me:Global crises will impact our economic growth and corporate profitability anyway.  we are an importing nation that will benefit from low commodity and oil prices.  we  do not export much. though we have a decisive government that can act in a crisis. But a global crisis will channel itself through a demand for liquidity. Investors will liquidate risky assets when uncertainty increases. A sell-off in Indian equity and debt markets is very likely as the China story plays out because of this the rupee will be in under pressure and We do not earn the dollars we need for our imports but depend on global capital to fill the gap.

that is where rbi plays part reserves aggressively and delayed the interest rate cut.it is tough position to defend the currency but not fully prevent depreciation

M3:What is economical survey and tell me some important points?
Me:A annual document of the Ministry of Finance, Government of India, Economic Survey  reviews the developments in the Indian economy over the previous 12 months, summarizes the performance on major development programmes,

The major points i remembered at that time
  • Economic Outlook, Prospects, and Policy Challenges
  • Fiscal Framework
  • Putting Public Investment on Track: The Rail Route to Higher Growth
  • What to Make in India? Manufacturing or Services?
  • State of the economy and Public Finance
  • Monetary management and financial intermediation
  • External sector and Service sector
  • Industrial, corporate and infrastructure performance

he added some more points to it

M3: What was your optional in phase2?
Me: finance and management

M3: Why you did that?
Me: sir, I thought it is easier for me than other subjects to my liking.

M4: What are your hobbies?
Me: Reading novels watching and playing cricket , music,watching movies ,  and sometimes i do write.

M4:He picked that line and asked what do you write?
Sir it can be about anything  social events , movies review , sports or my personal experiences because sometimes the feelings just can not be expressed they can only be write.

Very true and whole panel smiled :)

M4;India played very poorly against new zeland if you are the captain of india what change of plan you would strategies to make sure india's win against pakistan?
Sir i will make sure the confidence of the team doesn't get low because we have the full team of compact players and has the talent to beat any team on any day.The batting just didn't clicked in last match some weak and unnecesssary shots were played which could have been avoided so will look forward to it.Bumrah is doing well with his yorkers will rely on him again on death overs and ashish nehra really needs to step as a experience bowler delivering full tosses will not do any good and against pakistan we will have upper hand any how.
In the end how you perform on the given day all it matters so i will just told the just forget about everything just focus on this.

M4:Have you watched the teaser of MS dhoni:the untold story? how was it?
Me:Sir i think it was quiet impressive it will be very interesting to watch the struggle of MS dhoni how he worked from a small town boy to the biggest hero of india?

M4:will it make it to 100 cr club with smiling expression?
Me:Sir i guess it should be taking the popularity of MS dhoni and winning T20 will do more good for movie.

M4:which actor/actress movies earned most in a single year in bollywood?
Me:Unexpected question but i knew the answer it was my fav deepika padukone afterall...i told them she earned 630 cr around in 2013 in her 4 movies

M4:ok you can go

That sit it sticking around 20 min of not so easy but still very interesting..Panel was very helpful and now i can just hope all the things will get placed rightly for me

Thanks BA for Sharing.

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