As you start for RBI Grade B preparation, one thing which always strikes us is which books to follow. RBI notification mention lots of books and this causes confusion on which books and learning resources to follow.
Here, we have compiled a detailed summary of important RBI Grade b books and learning resources. We have shared our review of books and learning material of different books We have also shared a strategy on how to use each of these books and learning resources for RBI Grade B preparation.
Further, it must be added that no book is enough in isolation to prepare for this exam. The main portion in ESI part is current which should be covered thoroughly and proper background knowledge.
Most important books for RBI Grade B preparation
RBI website suggests different books, magazines for RBI Grade B exam preparation. We have critically examined these books, and then briefly explained you detailed strategy on how to prepare for the exam using these RBI Grade B books.
Books and learning resources for RBI Grade B phase 2 preparation
RBI Grade B phase 2 (mains) paper is divided into 3 papers of equal weightage (100 marks) each.
RBI Grade B phase 2 syllabus
- Economics and Social Issues
- Finance and Management
Books for Economics and Social Issues
Indian Economy by Ramesh Singh
Indian Economy by Ramesh Singh is most sought after book for GS (Economics) in UPSC and state PSC exams. Dr. Ramesh Singh is an Alumnus of the Delhi School of Economics, and a popular columnist of the Publication Division journals Yojana and Kurukshetra.
- Socio-Economic Issues
- Covers latest issues Niti’s Niyatam and Action Agenda, Women Farmers, Climate Smart Agriculture, Logistics and Housing for All, Insolvency and Bankruptcy, GST and increasing Tax Compliance, NPAs, LoU, SWIFT
- Agriculture, Industry and Services sections
- Financial Sector together with External Sector and International Organisations sections
- Taxation and Budgeting sections
- Human Development section
- Economic Survey and Union Budget
- India Development Report, NITI Aayog and other important official documents and reports of national and international institutions
Our Review on Indian Economy by Ramesh Singh
Indian Economy by Ramesh Singh is an excellent book for UPSC and PSC exams. It covers most of the concepts well, and its latest edition is updated on the latest budget, economics survey, and all other global reports. This book is exclusively meant for UPSC GS Economics and Optional (Economics) subject. Students from other exams like RBI Grade B, Nabard etc will find this book complex and a tough read. Our advice will be to go for selected topics like different schemes, socio-economic issues, budget and economic survey.
Indian Economy Since Independence: A comprehensive and critical analysis of India’s economy, 1947-2017 by Uma Kapila
An Honours Graduate from Miranda House, University of Delhi and M.A. and Ph.D. from Delhi School of Economics, Dr. Uma Kapila has also served on the Planning Commission Study Group on “Agricultural Strategies in the Eastern Region of India for the Seventh Five Year Plan” (Perspective Planning Division).
Our review on Indian Economy since independence by Uma Kapila
Indian Economy since independence by Uma Kapila is a great book for aspirants appearing for UPSC and state PSC exams, and who have taken Economics as their optional. This 1000 page bible is meant for high-level economics. RBI Grade B and Nabard aspirants are however not advised to follow this book, as it will confuse them easily, and they will somehow feel demotivated.
Indian Economy by Mishra and Puri
- Economic development: a theoretical background
- Structure of the indian economy
- Basic issues in agriculture
- The industrial sector and services in indian economy
- Foreign trade and foreign capital
- Money, banking and finance
- Public finance
- Economic Planning And Policy
- Our review on Indian Economy since independence by Uma Kapila
Indian Economy by Mishra and Puri is relatively easy to read and lighter version of economics. It is aimed for UGC and likewise exams. RBI Grade B and Nabard aspirants can follow this book, and do the selective reading of topics mentioned. Most important topics of this book are economic development, structure of Indian economy and economic planning and policy. However, if the aspirant is following Ramesh Singh then this book may be left.
Development Economics by Devraj Ray
This book deals with studies on science technology and culture in Indian from tenth to the eighteenth century. For those interested in science and technology and their impact on social lives, this will prove to be an essential book.
Our review of Development Economics by Devraj Ray
Development economics by Devraj Ray is aimed for graduate-level economics and is standard textbook in many graduate level courses in different universities. The key features of this book are a simple language which helps build interest in economics in RBI Grade B and Nabard aspirants. This books is aimed towards a historical approach, and may not be as useful for covering syllabus of Economics and Social Issues of RBI Grade B and Nabard exam.
Sociology: Principles of Sociology with an Introduction to Social Thoughts- C.N. Shankar
Topics covered in this book
- Definition of Sociology
- Scope and use of Sociology
- Social institutions
- Marriage in India
- The Education System
- Juvenile Delinquency
- Population problems and beggary
- Collective behavior
- Norms and social values
Our review of Sociology by C.N. Shankar
Sociology by C.N. Shankar is a recommended book if we are taking sociology as an optional in UPSC Civil Services and PSC exams. This book deals into various social angles of society, covering details and important issues on them. Since social issue is a part of RBI Grade B economics syllabus, this book will provide a necessary base for that. However, deep study of this book is not recommended especially for RBI Grade B and Nabard aspirants. If students can get summary notes of this book then it is fine, otherwise, this 1000 page books will be too long for students.
Economics Survey of India
Every year, The Department of Economic Affairs, Finance Ministry of India presents the Economic Survey in the parliament before the Union Budget. Economics survey of India is prepared by Chief Economic Adviser, Finance Ministry, and it represents annual economic development of the country.
Our review of Sociology by Economics Survey of India
Economics Survey of India is a must-read document for RBI Grade B and Nabard aspirants. Although this is a lengthy document with 1000+ pages, aspirants are advised to see the performance of different schemes and departments, and recommendation for improvement. This single document give enough fodder for tackling ESI paper of RBI Grade B and Nabard, along with preparing for essay topics for RBI Grade B English paper. Click here to see some sample video where it has been covered
Recommended Books for Finance and Management- RBI Grade B
Prasanna Chandra – Financial Management: Theory and Practice
This book discusses the basics of modern finance and various theories related to it, and in this way, helps readers in building a strong foundation from where they can comfortably proceed onto learning the more advanced topics. Decision making related to finance is explained in terms of the techniques needed to make effective and productive decisions.
Our review of Financial Management by Prasanna Chandra
Prasanna Chandra is a standard first-year book by finance students in any university or MBA school. This book looks into the basics of capital finance, and candidates will find its numerical portion simple to understand and practice. But candidate need to keep in mind that capital finance is one part of finance syllabus. There are other parts too like banking, accountancy which is missing in this book.
Indian financial system- Bharati Pathak
The book is divided into four sections, each constituting the various topics under the umbrella of financial systems. It details the relationship between financial system and economic growth, historical perspective of the Indian financial system, objectives of financial sector reforms, elements of financial markets, new financial instruments such as floating rate bonds, zero coupon bonds, securitized paper, etc., management of non-performing assets by banks, factoring and forfeiting, housing finance and leasing
Content chart of this book:
Part I: Financial System
- The Financial System: An Introduction
- The Financial System and the Economy
- Reforms in the Financial System
Part II: Financial Markets
- The Money Market
- The Capital Market
- The Primary Market
- Disinvestment of Public Sector Undertakings
- The Secondary Market
- The Derivatives Market
- The Debt Market
- New Financial Instruments
Part III: Financial Institutions
- Development Financial Institutions
- Banking and Non-Banking Institutions
- Management of Non-Performing Assets by Banks
- Mutual Funds
Part IV: Financial Services
- Investment Banking
- Depositories and Custodians
- Credit Rating
- Factoring and Forfaiting
- Housing Finance
- Leasing and Hire Purchase
- Financial Inclusion and Microfinance
Part V: Financial Regulation
- Financial Regulation
Our review of Indian Financial System by Bharati Pathak
This is the best book you can find for your RBI Grade B finance preparation. Though it doesn’t cover full syllabus, it is enough to cover capital finance and banking portion of RBI Grade B finance. This 1000 page finance book may be a little challenging for the new person to read.
Financial Accounting by TS Grewal
Cover basics of financial accounting, cost accounting etc. TS Grewal books are standard books for commerce student during their class 11 and 12.
Our review of Financial Accounting by TS Grewal
Financial accounting book by TS Grewal covers the missing link between Prasanna Chandra and Bharati Pathak ie accounting portion of RBI Grade B finance paper. This book is easy in language, has a lot of practice assignments. Our review is that since this book is meant for commerce students, RBI Grade B aspirants are advised to not spend too much time on this book. Spend 1-2 weeks at most, and learn concept about the balance sheet and different financial sheets and ratio.
Recommended Books for Management- RBI Grade B
Organizational behavior by Stephen Robbins
This book is a standard book of Organisational behavior (OB), which is used in various universities and MBA schools.
Course content of this book:
- What Is Organizational Behavior?
- Attitudes and Job Satisfaction
- Emotions and Moods
- Personality and Values
- Perception and Individual Decision Making
- Motivation: From Concepts to Applications
- Foundations of Group Behavior
- Understanding Work Teams
- Power and Politics
- Conflict and Negotiation
- Foundations of Organization Structure
- Organizational Change and Stress Management
Our review of Organisational behavior by Stephen Robbins
This book covers all concepts of organizational behavior quite well. A new student may find this book long and boring. But, if you can go through this, you will have good command over organizational behavior subject.
Principal of Management by PC Tripathi and PN Reddy
PC Tripathi and PN Reddy are both senior and recognized professors in India. They have compiled a book on management which will give you an overview of the essential roles and responsibilities of a person going into the management field.
Our review of Principal of Management by PC Tripathi and PN Reddy
RBI Grade B management paper is 70-80% on organizational behavior. Our advice to aspirants is to not give more than 1-2 week on this book.
Principal and Practice of Management by LM Prasad
This book covers the basics of management. Different management theories have explained with help of case methodology in this book.
Our review of principal and Practice of Management by LM Prasad
This book has a lot of overlapping portion with PC Tripathi and PN Reddy’ Principal of Management book. Our advice is a candidate can follow either of a book for short read, and then focus more on organizational behavior portion.
We have seen different books for RBI Grade B phase 2 parts. As we have mentioned earlier, and in our review, students need to be extremely careful about reading from these books. Students should do selective readings based on the syllabus and past year pattern of RBI Grade B exam.
We have also compiled the preparation strategy and how to study different subjects of RBI Grade B phase 2 here
For RBI Grade B phase 1, students can see below link. We will follow RBI Grade B phase 1 books in a separate article.