In this article, we shall capture the importance of Economics NCERT books (Classes 9-12) for bank exams preparation.
Every year, aspiring candidates are recruited by various banks for different posts depending upon the availability of bank vacancies.
To learn more about different bank exams, check at the linked article.
State Bank of India (SBI) and Institute of Banking Personnel Selection (IBPS) are the two main recruitment bodies which conduct bank exams on a yearly basis for various bank positions.
Candidates need to clear the Common Written Examinations (CWE) followed by a bank interview for some posts like PO and SO for final provisional allotment.
To know more about various Govt Exams, check at the linked article.
There are two tiers in CWE namely –
- Preliminary Exam
- Mains Exam
To learn more about SBI Exams, check at the linked article.
Importance of Economics in Bank Exams
For the Prelims exam, there are mainly three sections in almost all the bank exams, which include:
- Reasoning Ability: This section mainly consists of non- verbal and logical reasoning.
- Quantitative Aptitude: This section 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.
To explore the SBI PO Exam Pattern, check at the linked article.
Hence in the Preliminary exam, there is no requirement of consulting Economics books, as these three sections are not linked with the Economics paper in any way.
The candidates who qualify for the Prelims exam are permitted to sit for the Mains exam.
For the Bank Mains exam, there are five sections for almost all bank exams, which mainly comprise:
- Reasoning Ability: The difficulty level is a bit high in Mains in comparison to the Prelims exam.
- Quantitative Aptitude: This section checks mostly the mental mathematical blocks and problem-solving skills of a candidate.
- English Language: This section tests the English knowledge and grammatical skills of a candidate.
- Computer Knowledge: The fundamentals of the computer along with the efficiency are checked in this section.
- General Awareness: The banking, as well as the knowledge about current affairs, is tested in this section.
To explore more about IBPS Exams, check at the linked article.
Reference of Economics in General Awareness Section
In the general awareness section, the banking awareness part includes topics pertaining to the Indian economy. This section contains the questions related to the current economy and its growth.
This is an important topic in general awareness so for a candidate to crack the bank jobs. He/she needs to have the sectional knowledge and meet the overall cut-offs to qualify in the respective bank exams.
To learn Tips To Master Error Spotting In English Language Section, check at the linked article.
The main subtopic, which the candidate needs to know on the Indian economy can be studied through banking exam preparation app like BYJU’S learning tablet. The entire section is covered under the general knowledge section, which gives the detailed knowledge about the Indian economy.
Meanwhile, candidates can also refer to Economics NCERT books from standard 9-12 to keep themselves updated about the latest happenings in the Indian economy.
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
- The current economy of India
Important Bank Exams Related Topics:
|SBI exam dates||IBPS||RBI Officer Grade B|
|SBI PO Syllabus||SBI Clerk Syllabus||SBI SO Syllabus|
|IBPS Clerk Syllabus||IBPS PO Syllabus||IBPS RRB Syllabus|
Uses of Economics in a Bank Interview
Once the candidate qualifies the Mains examination, he/she is called for a bank interview 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’s knowledge about General and Banking Awareness.
There are some topics, which need to be revised on Economics for appearing in a bank 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 bank interview focus on these sections.
Most of the students appearing for banking exams do not come from an Economics background so this section becomes quite difficult for them. Studying all the basics and wasting the peak hours in learning from NCERT books could help to an extent in bank exam preparation.
Besides, candidates should also practice from previous years’ bank exam question papers to have an idea of the bank exam pattern and weightage of different questions asked during the bank exam.
To learn more about upcoming bank exams, check at the linked article.
For more information on bank exams, stay tuned with BYJU’S to get detailed exam preparation tips and strategies.