The aspiring candidates are recruited for the different posts as per the vacancy by banks. The Candidates need to clear the written exams followed by the interview for some posts like PO and SO for the final provisional allotment. There are two tiers in common written examination, which are prelims and mains.
For prelims, there are mainly three subjects in almost all the bank exams, which are:
- Reasoning: This section consists of non- verbal and logical reasoning mainly.
- Quantitative Aptitude: This tests the numerical ability of the candidate, which needs sheer practice for its preparation.
- English Language: This section is all about the vocabulary and grammar questions mainly.
Hence, in prelims, there is no need for economics books, as these three subjects are not linked with economics in any way.
The candidates who qualify prelims will be allowed for mains. For mains, there are five subjects for almost all bank exams, which are mainly:
- Reasoning: The difficulty level is a bit high here than the prelims.
- Quantitative Aptitude: This checks mostly the mental mathematics and if the candidate is potential to solve the problems.
- English Language: This tests the English knowledge and grammar of the candidate.
- Computer Knowledge: The fundamentals of the computer along with the efficiency are checked here.
- General awareness: The banking, as well as the knowledge about current affairs, is tested through these examinations.
Here in the general awareness section, the banking awareness part consists of the section, which includes the Indian Economy. This section contains the questions related to the current economy and its growth. It is an important topic in general awareness so for a candidate to crack the bank jobs, he/she needs to have the sectional as well as the overall cut-offs which is the reason for this topic to be focused on.
The main subtopic, which the candidate needs to know on Indian economy, can be studied through Byju’s learning tablet. The entire section is covered under the general knowledge section, which gives the detailed knowledge about the Indian economy. It is not necessary to cover up all the ncert books of economics from standard 9-12.
The written exam on Indian economy mostly consists of multiple-choice questions from:
- Economy- definition
- Economy -types
- Economic factors responsible for its growth
- Stock exchanges
- GDP- definition and role
- Fiscal year, trade organizations, foreign reserves and inflation
- FDI stocks
- Current economy of India
Once the candidate qualifies the mains examination, the interview awaits for some posts like PO and SO. The interviewer asks questions from current affairs including economic factors and its current state. The share markets, important factors for the economy and financial sectors are the sections where they judge a candidate mainly.
There are some topics, which need to be revised on economics for appearing in an interview:
- Banking abbreviations of economics
- Commonwealth of Nations
- Global Monetary Fund
- World Bank
- United Nations
- The World Trade Organization
- Current banking scenario
- Banking structure of India and much more.
The economy and the financial sectors are interrelated, so banking exams both: the written and the interview focus on these sections majorly. Most of the students appearing for banking exams do not come from an economics background so this section becomes quite difficult. Studying all the basics and wasting the peak hours in learning from ncert books will not help instead practising previous year’s question papers will help the candidate to have an idea of the pattern of questions to be asked.
Stay tuned with Byju’s to get detailed exam preparation tips and strategies.