RBI Grade B Books 2023: List of Best Books for RBI Grade B Exam

The notification is out now and to invigorate your zeal to prepare for this exam, we are providing you with a list of section-wise best books for RBI Grade B exam preparation. Besides giving you a list of the best books for RBI grade B (Phase 1), we have handpicked a few other topics for Phase 2 of the same exam and listed the useful books for the RBI Grade B Phase 2.

Books play an important role in the RBI Grade B exam preparation. Students must know the name of important books before starting the preparation. After covering the basic concepts from standard books, you will be able to solve problems with confidence and accuracy. RBI Grade B is one of the most important banking exams conducted across the country. The exam provides an opportunity to work for India's central banking institution, which controls the issuance and supply of the Indian currency, managing all the monetary policies of the country.

A lot of people in and around have had a tough time chalking out a strategy for the RBI Grade B exam. Go through the important books for RBI Grade B Phase 2 & Phase 1 exam here in this post and start your exam preparation now!

Based on a thorough analysis of last year’s RBI Grade B question paper, most of the questions asked in the Economics & Social Issues section were asked from the following sources:

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

Most of the questions were based on facts, figures, numbers, and percentages. Therefore, based on last year’s question paper of RBI Grade B, we concluded that the following are the three most important sources for the preparation of this exam:

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

However, since the RBI Grade B Exam is unpredictable, you need to have an in-depth understanding of the topics as well, apart from the above-mentioned sources. So, to help you all in the better preparation of this exam, we will discuss the important books for RBI Grade B Phase-2 & Phase-1 exam preparation now!

One can follow the books mentioned below for the Phase-1 preparation of RBI Grade B exam 2023:

To watch live sessions by exam-qualified experts, you can try our RBI Grade-B Online Coaching.

Let's check out the most important and standard books available in the market to start the preparation for the RBI Grade-B Phase-2 exam 2023.

I. RBI Grade B Books for Finance & Management

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

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

In the table below, we have covered the sub-topics of this section as well as the sources which one can refer to for their preparation:

II. RBI Grade B Books for Economic & Social Issues

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

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

In the table below, we have covered the sub-topics of this section as well as the sources which one can refer to for their preparation:

III. Reports & Other Sources for RBI Grade B

• Economic Survey of India
• World Development Report
• Union Budget
• RBI’s Annual Report
• Sample question papers by RBI. This will give you an idea of both the nature &  the difficulty level of questions asked.
• FAQ Section of the RBI website
• Investopedia Website

• Phase 1 is about time management. You have 120 minutes for 200 questions on four subjects which are Quantitative aptitude, Reasoning, English, and General Awareness.
• If you have never prepared for IBPS/SSC/CAT/MAT type exam, invest 60–70% of the time in phase 1 preparation.
• Plan to score more in General Awareness as it is 40% of the exam and all 80 questions can be attempted in minimum time. General Awareness questions are more from Economy, banking, finance and social issues & all these topics are even part of the mains exam.
• The minimum cut off mark is something you definitely need to score in every section, so plan well.
• Sectional timing is also introduced this time in the preliminary exam.

•  The syllabus is not lengthy but yes it is very diverse. You need to learn the fundamentals of varied topics.
•  The exam requires a conceptual understanding of the topics given in the syllabus.
•  While studying, the topics may appear simple but when options are there to choose from, one might get confused.
• Writing ability is very important for English paper which carries 100 marks for which reading editorial becomes a must.
• Now you have to prepare for objectives as well as descriptive as the exam pattern has changed this year.
• You have to work on your writing skills as well.

• Time Table for preparation. It should be made as per your ability.
• Check the latest syllabus and exam pattern. RBI Grade B paper always follows an updated pattern.
• Make hand notes: Regularly make notes for the Exam, so that you can easily understand and revise the previous topics.
• Know your strengths and weakness. Check your weakness and work hard to remove weak points in the study. Manage time to solve the hard and easy topics in your syllabus.
• Set achievable targets for yourself, like studying 4 comprehensive topics in an hour, or 7-8 small topics in an hour. This will boost your speed as your mind will not feel overtaxed.
• Use flashcards. This is another great tool that will let you revise anytime, anywhere, and with ease! Make flashcards of important dates, events, and keywords to keep your memory fresh.

The best answer is ‘it depends. 5 months or 5 years, beyond a limit, time spent on the preparation will not result in success if the strategy is not right. However, there are many who clear the RBI Grade B exam with 3-4 months of preparation.

RBI Grade B is quite a unique exam divided into Phase 1 and Phase 2 requiring different preparation. Though only the marks of the phase 2 exam and interview are counted for the final selection, all your knowledge of Economics, Finance, and Management remains unused if you don’t clear Phase 1. Similarly, clearing Phase 1 is a waste of effort if you are not preparing for Phase 2 right now.

In the limited time, we shall focus only on what is required to be studied. If you try to cover everything under the sun, you will never be able to complete the syllabus and won’t be able to retain it either.

The exam requires you to understand the basics of economics (macro), finance, banking, and organizational behavior. However, in the exam, a large number of questions come from the factual information that you need to study current affairs from newspapers, magazines, and other standard publications.

• If you think that only people with a strong finance background clear this exam: Not true at all. People with journalism as a background are also selected in this exam. Read the RBI Grade B eligibility criteria for details.
• If you think that people from IITs and IIMs grads are preferred then you are wrong. There is not any preference given to anyone. That's a myth. Everything depends on your Phase 1, 2, and interview marks.
• If you will focus on Phase 1 for now and then on Phase 2, you will be doing a big mistake. 

For UPSC candidates, Economics and GS might help you, but the RBI Grade B Phase 1 paper contains many fact-based or stats questions, like the amount allocated to a particular scheme which is not the case with UPSC.

So students when you are getting everything at your fingertips, why wait for the notification? It takes the practice of months and dedication to get fruitful results. Take the free trial of the course now and equipped your study material with the best you can.