all the best to everyone who have their interview tomorrow may god bless u 😃
Puys how should we define Bank Rate? I have come across lots of definitions...books say that it was the rate at which RBI used to lend banks long term loans and presently acts just as the penal rate...RBI document says that it is the rate at which RBI is ready to buy and rediscount bills of exchange or other commercial papers and it signals medium term monetary stance..
and what do we mean by long term and medium term?? I think this was asked in previous interviews as well..
Wat do u think wil be the overall cutoff (including interview) for general category in rbi grade b 2014
I have really enjoyed this particular thread so many useful , important and absorbing discussions which def helped in enhancing my knowledge base and cleared many doubts and also I have learned quite a few new concepts too 😃
Chandigarh: 10:20 Am - 10:40
M1-Chairman (GurNanak): So, Music, carom (he chuckles), wicket keeping (wc). What sort of music you listen to ...... (went on with hobby for 2-3 minutes). Came to 'wc' , blah blah. I said, its a thankless job, you have to do hundreds of situps & face hitting the ball several times. I would get a dozen odd bruises all over my hand. GurNanak said "I have myself kept gloves, the hand becomes hard after practice". I said I am not a regular WC, in the knowledge industry it is hard to have hard hands. He quipped, lets check your knowledge then.
M2 (Brahma)-Asked about the new method of GDP calculation & its effect on Fiscal Deficit. I went around the question to grapple with it rather than launching the frontal attack. The panel didn't look convinced.
M3 (Vishnu) Asked about my perception of how the budget would be? Whether gov. Will meet its fiscal targets.
M4 (Mahesh) Jumped on to cricket again. Both M4 & M1 (Gurnanak) started playing around me. I showed that I am enjoying the talk, but in reality I wanted them to ask serious stuff. It did piss me off, and it shows on your face in the fake smile.
Then M4 said my form is "wrong" I haven't filled it right or missed things. I looked shocked & defended it. So did M5. But he insisted. At that time I didn't realise that they were testing my stress skills.(you have to carry attitute in RBI, at least in public dealing departments) I am pretty bad at them. It went on for some time.
M5 (Saraswati) came for rescue & asked Why you left old job. Gave them reasons. Then she said why RBI? I had my standard answer with added emotions to it.
M6( Kamdev): asked about RBI's role for the common man. I gave the gyan. But he wasn't convinced. I gave more gyan. He was still looking for the right thing. I must say I was feeling the stress by then.
The 6 members there are Gods in their own way. It is better if you don't mess with them. My profile warranted them to ask me pin pointed tough & straight question early on. I felt the pressure & can't even remember a few 😃 even now. But, overall the process was awesome. This is the place to be. I fell this was a 50-50 performance, but I could have done slighly better if I had handled stress. Surprisingly, for me it all boils down to stress. Others may have other issues.
can anyone explain this article?
Today had interview at 1.pm
Since I am working in RRB. ..it turned out to be a hot potato for the board and rescuer for me
kisi ko koi idea upto which class they are reimbursing is it upto 2nd ac or below that?
How well do u think u prepared for phase 2. Honest reply plsss
Expected date of RBI Grade B 2014 results? (Finally its over):)
In case, if you get selected in RBI. Your future course of action will be ?
If they ask for back up plan in case I don't get selected then should I say that I have no back up and appear desperate or tell them my real backup plan?
Hi Puys, will be trying my hand for the 1st time for RBI, got no clue and seekin some guidance.
wanted clarity on topics like
#when is the exam held,
#portion,
#no of months required to prepare,
#no of rounds to get offer letter ,
#people attempting,
#pay scale,
#best books to refer,
#can NON BFSI domain person attempt,chances of him clearing,
#with preparation for RBI which all other exams he can appear for
#also is your work ex counted or you will treated as fresher?
i know too many questions but it can serve as bible for all of us who are 1st timers!!
when will RBI grade B 2015 notification will come?
My understanding about HR/Technical questions:
TECHNICAL: These are powerhouse of a candidate's knowledge. It goes without saying that the better you are at them the better your candidature. But, it is important to understand that the better your profile the more the expectations from the panel. So, the knowledge has to be seen in respect to profile. Its like a AA rated security is expected to perform better than BB rated one. But if a BB performs at AA level then it may get a score better than AA. This is my understading on the subject.
Another thing is the level of difficulty of questions:
1. Simple ones - Definitions or knowledge based. Don't get them wrong or even pass them. You will probably be dead if you have a A or a AA & especially a AAA profile.
2. Average ones - Depending upon your profile, if you have a decent profile, keep answering these if you think yours is a good profile. But if you have an average profile (at least you think that it is average), then try hitting them; if you can get 50-70% on target, its good.
3. Tough ones - No problem if you can't answer them. But I get an impression that even 1-2 answered rightly, straight away get you through. These are like head turner questions. The panel may ask you these especially if you are consistent with answering the medium difficulty ones.
HR: These questions check your suitability for the role. A fellow friend of mine, who is an utter introvert, got 2 back to back interview opportunities in RBI (2010,2012). He got lowest scores both of the times, despite answering good no of technical questions. He simply did not impress the panel. The most important element here is "likeability". You have to give the panel a pleasant experience at the least.
People can be trained in both the departments. And they are both important to get you through. Both are necessary but not sufficient.
More analysis later.
I have noticed that since the interviews began, there have been some 15-20 people sharing their experiences on the forum. In Chandigarh 30 people appeared, no one shared their experience. I understand that not everyone is following the forum. Even at peak time less than 100 people answered the "Objective questions". But, I expect people can share their detailed experience at least after the exam, if they feel insecure now. I totally understand you. But you will have to share some to get a lot. the world fosters on the multiplier effect. You share x with n people and you get back nx. You don't share, you still grow, but at your own pace, in your naturally limited dimensions. the choice is eventually yours.
Sorry guys for the late post.. My interview was on 20th Jan.Chennai. Here goes:
Totally 15 Candidates were to be interviewed that day.One was absent and one got rejected. I was 10th on the list.
Verification went smooth..
My interview started around 11:30AM.
5 Members were present.M1 was a Sardarji.M4 was a lady . Here goes:
First I wished them all Good Morning..
M1:So you are a Company Secretary?
Me:Yes,Sir. I am.
M1: So your hobbies are Blogging and Cricket?
Me:Yes Sir.
M1:What do you blog on?
Me:I blog on the latest Company Law updates and on Cricket.
M1:Oh good.How many views does your blog generate? How many likes?
Me:Not much Sir.May be in the hundreds.
M1 pointed to M2 to ask questions.
M2:So you are a Company Secretary.What is Corporate governance?
Me:Corporate Governance is the application of best management practices, Compliance of law in true letter and spirit, adherence to ethical standards and sustainable development of all stakeholders.
M2:Can you tell me the History of Corporate Governance?
Me:Globally it gained widespread publicity with the Cadbury Committee, in India there was Kumaramangalam Birla Committee, NR Narayanamurthy Committee
M2:How is Corporate Governance ensured?
Me:It is ensured through Board of Directors Meeting, Audit Committee Meeting Risk Management, Listing Agreement Compliance, Company Secretary etc
M2:Just these measures wont help Corporate Governance
Me:Sir, these measures are the mechanisms to ensure Corporate Governance.
M2 didnt seem satisfied and pointed to the next
M3:I assume you read newspapers.
Me:Yes sir.I do.
M3:You would have heard that Switzerland has depegged its Currency from Euro.Why did they do so?
At this point M1 walked away to the restroom.
Me:it was because Euro was unstable and they wanted to price their currency better.this would have an impact on country's exports which could be priced better.
M3:What will be its impact on India.
Me:Switzerland is one of the top 10 exporters to India and we import mainly Gold, Swiss watches, Chocolates. If Swiss Franc Is depegged, It will appreciate and imports to India will become costlier.
(At this point, M5 got a call and he was talking on the phone, M1 still hadn't come back from the rest room.)
M3 kept smiling at me and pointed towards M4.
M4 (lady in a white saree):
You are a practitioner of Direct and Indirect Tax laws. Can you tell me something about FATCA.
Me:FATCA stands for Foreign Account Tax Compliance Agreement. It is an US act which mandates that other Countries have to sign agreement with US to disclose information on accounts maintained with them by Us Citizens. This is to prevent tax evasion.
Looked like M4 was nodding her head horizontally but didn't say anything just pointed to M5.At this point, M1 arrived.
M5:Can you tell me some news that you can recall?
Me:Yes Sir.I did read about Russian Rouble's fall. Russia which has now become mainly dependent on its Oil exports for economic Growth has come to be hugely affected because of the steep fall in Oil prices.This has led to fall in Russian Rouble.
M5:Can you tell me about some other news that happened very recently in Chennai.
Me:Yes Sir, Arun Jaitley, the Finance Minister came to Chennai and he had meeting with Top Ceos and N Srinivasan, India Cements Chairman said that Cement Industry has to be incentivised. The finance minister said that efforts have been taken by Rbi and the government and it would take sometime for the efforts to fructify.
At this point M1 asked M4 if she had finished asking questions. She said she had and M1 said thank you. I replied Thank you to each one of them.And that's it.
Puys what will be effect of Greece exit on India?
What I could think of is that after grexit other countries may follow and then big investors may pull out from risk assetsand emerging markets such as India.
What are your expectations from budget as
1. Common Man
2. Banker