rbi topper

Meet Rajat- Age 22, First Attempt- Cracked RBI Grade B

When we say that the RBI Grade B examination is tough, it means a selection ratio of mere 0.1% to 0.2%. Cracking such competitive examination which attracts talent from all over this country is an achievement in itself. In our Demystifying series this interview is second in the series of interviews we had published so far.

Today we had a discussion with Mr. Rajat Pradip Phutane, who is a resident of historic town of Amaravati and an engineer by Degree from VNIT Nagpur. He is a serving officers in Reliance Industries, his achievement is a real inspiration for all career aspiring working young boys who are not able to manage their time with work. Rajat has also broken many myths like it can’t be done in first attempt, or you need a strong background in finance and economics, or you are too young to do that, or you need a work experience in banking/finance industry.

As a student, he was regular and most importantly participative in all tests/events by our portal. Let’s see what he has to share with all of the aspirants.

Dear Sir, congratulations for your grand success in the RBI Grade B 2019 examination. You have cracked one of the toughest fought examination in the recent times. What was your first reaction when you got the news?

Rajat- Thank you so much Sir. The first time I saw my roll number in Select list, I was literally shocked. I couldn’t believe that I have cracked my dream exam in my first attempt. I checked several times. Then I checked my result from some of my friends. When they said that I was in, I was on cloud nine.

What was the reaction of your family and friends?

Rajat- Obviously my parents, relatives, friends all were extremely happy when I shared the good news with them. Some of them were even shocked that I performed so well in first attempt.

When did you realize that this is the right career for you? How you came to know about this examination?

Rajat- In my final year, after I got placement I thought of studying for UPSC. I started with Economics and I really liked studying Economics that time. I thought that I should have that job with financial work profile with decent pay. I searched on Quora and then I came to know about RBI Grade B. After that I only focused on RBI.

The first impression about this examination is confusion. Not enough of guidance and quality study material is available. How you started? This question is very important from the point of view of newcomers, because they miss the track from day 1?

Rajat- The best way to clear confusion is to get broad idea what this exam demands. So start with reading syllabus from previous notification. Then I watched some Youtube videos on previous year question papers to get overall idea of exam.

How important is preparation for phase 1? Mostly, it is a tendency that aspirants ignore phase 1 of the examination. What was your strategy? (you can freely mention all books and sources)

Rajat- Phase 1 preparation is most important, as most of the aspirants are out of the race in Phase 1 itself. Many aspirants study too much for Phase 2 even before clearing Phase 1. It will all go in vain if you can’t clear Phase 1. For Quant and English I didn’t prepare specifically as I was confident about these sections. For LR, I used to attempt quizzes from BankersAdda and Sectional quizzes from Practicemock. GA is most important for Phase 1. I used to read daily CA from BankersAdda, IAS Baba & Collage from Maggu Bhai. Then I would solve daily quizzes on Bankersadda ,Gradeup. Finally, I would read monthly capsule from Affairscloud & would make notes to revise afterwards. Then I solved mocks from PM, Oliveboard and Maggu Bhai. Most important part for GA is revision, as retention of information is key for success.

There is a common perception that RBI Grade B is only for IIM guys or people with strong finance and quantitative skills. Do you agree with this?

Rajat- A big no. That’s why this is a generalist post not a specialist post. In fact, I was also from engineering background from a NIT college with no experience of financial sector. I was working in core technical company. In fact many of the selected candidates are from engineering background. So this exam is open for everyone.

What you did for preparation of Finance? What was your strategy? Can you throw some light on this, as many aspirants are just too scared of this section.

Rajat- First I studied chapters related to Finance from Ramesh Singh. Then I read Edutap Summary Sheets to get basic understanding. Then I prepared extensively from mocks like PM, OB and Crackgradeb. Meanwhile Weekly Economic round Up (now known as Arth) and OP-Eds of Maggu Bhai really helped me to enhance my financial knowledge.

Education and Work Experience

Class 10JC High School, Kharanja, Wasim98.18%
Class 12Gadegabab Junior College, Akola89.69%
Grad.VNIT Nagpur7.85
Work ex-Reliance Industries Ltd.16 months

What you did for preparation of English? What was your strategy for this often-ignored section?

Rajat- It is true that English is often ignored due to preparation for ESI and FM. But most of the times final selection depends on English marks. So it is important to study extensively for this section, as it can really fetch you good marks. Reward to study ratio is high here. I used to practice on different topics for essay. For other sections, I didn’t prepare specifically. But I had given mocks for this section.  Again, OP-ED helped me here as it gave fodder points for essay.

What you did for preparation of Management? What was your strategy? Any books you would like to recommend?

Rajat- I used to read Edutap Summary sheets for management. Most of the portion I got covered from different mocks. I used to make notes & then revised 2-3 times.

What you did for preparation of ESI? How you tackled ever confusing schemes?

Rajat- For ESI, most important part is current affairs of 3-4 months before exam. I had done current affairs from IAS Baba, Civilsdaily and Affairs cloud. Most important source for Current affairs and government schemes is PIB itself. Then I supplemented it with 2-3 mocks. Also, I had done some intelligent guessing in mains which I think helped me.

How much Economics (subject knowledge) is actually in ESI?  Toppers over the year suggest that it is more of current affairs than core economics.

Rajat- Yes it is true. In fact only 4 to 5 questions come in exam from Static economics part. I got it covered from Ramesh Singh book.

What you did for preparation of Current Affairs? What was your strategy? Any source you referred.

Rajat- For current affairs I referred multiple sources. For Phase 1, Collage of Maggu Bhai Bankersadda & Affairscloud. For phase 2 it was PIB, IAS Baba, Civilsdaily & Affairscloud. All these supplemented with mocks and revision.

How you prepared yourself to face the interview? Can you share some details?

Rajat- I prepared model answers of questions related to my profile. Most of the preparation was done from RBI website itself. FAQs section really helped to know about working of RBI. Maggu Bhai also used to send some PDFs related to answers for questions related to recent happenings.

Please share your brief interview experience? Questions asked.

Rajat- Interview questions were not much technical. Most of the questions were profile related. Then they asked some questions related to functioning of RBI, Inflation targeting, Types of inflation and questions related to NBFC & Banks.

Can you suggest, top 5 websites which are essential for RBI Grade B preparation?

Rajat- PIB, Affairs Cloud, Practicemock, Maggu Bhai, Oliveboard.

5 books which a beginner can’t miss?

Rajat- We can’t really miss Ramesh Singh book. That was the only book from which I studied.

During the long course of preparation any set-back you faced and how you tackled that?

Rajat- Time management with job was really somewhat difficult during Phase 1 & 2. I used to make target to study at least 2-3 hours every day.

How you managed your studies with work?

Rajat- I used to devote my full time in evening to preparation after coming home. Also, I used to study from apps in my Travelling time and Lunch hours. I just made sure that I am studying consistently and ensured no big break between studies.

What was your study routine? How many hours and months you devoted to this examination?

Rajat-  I used to study 2-3 hours daily. I started preparing 1 month prior to notification, which continued till my Interview in January.

In case of current affairs, how many months you need to cover for phase 1 and phase 2?

Rajat- For Phase 1, 2 to 3 months and for Phase 2, 4 to 5 months is sufficient

The final selection ratio is less than 0.2%, so there is always uncertainty. What was your back-up plan? Do you really think we need a backup plan?

Rajat- As I had job, I targeted only RBI with NABARD grade A and SEBI grade A as backup.

What is your ultimate career aspiration?

Rajat- A successful central banker who will maintain financial stability of our country.

Any personality you admire and follow?

Rajat- Rahul Dravid.

How you kept yourself motivated, it is a grilling process?

Rajat- I used to compare my current job with future job. Also, posts from Maggu Bhai were always motivating. I kept myself busy throughout the day so that I don’t stray away from my path.

Any advice to new aspirants based on your experience? Things which we shall not do and things we must do.

Rajat- Many times you will feel like to give up on preparation. But never give up. All aspirants are always in the same boat. At the same time don’t take it too seriously too give up on your normal routine. When you are exhausted, go out & explore new places. Just keep it simple.

Anything you like to say to the aspirant community!

Rajat- Follow your own strategy. Keep it simple. Stay motivated. Make sure that you are always busy in doing something so that you can control negative thoughts. And even if you fail, don’t think that this is end of world. Life is always full of opportunities.

More about Rajat

  • Hobbies- Exploring new places, Trekking, Reading.
  • Favorite book/s- Zombi by Aanand Yadav (Marathi Novel)
  • Sport you like- Cricket, Football & Table Tennis.
  • Your interest in art and culture-  Like to explore history, likes to hear classical singing
  • Favorite movie/artist- The Shining, Wolf of wall Street, 3 Idiots
  • Childhood dream- To become teacher.
  • Academic dream- Post graduation related to Finance
  • Bucket list – I want to explore all tourist places in India & then I am planning to move on other countries. Also I want to learn to play Guitar & Flute.
  • Instagram- rockstar_rajat21
  • Quora- https://www.quora.com/profile/Rajat-Phutane-1?ch=10&share=f2c34a47&srid=upXbn

Success is the destiny but not without proper efforts. What Rajat did is an inspiration to many youth who are still in the graduation and looking to build a career in the top echelons of finance. Our review says that youngsters like Rajat are more likely to get success as they follow one simple strategy which is limited sources and hard work.

We wish a very best of luck for future endeavors to Rajat. Dreams do come true!