6 Effective Strategies to Crack the RBI DEPR Exam

Introduction

The RBI Grade B DEPR (Department of Economic and Policy Research) exam is one of the most prestigious exams for aspiring economists in India. It opens the door to a rewarding career at the Reserve Bank of India, where you can contribute to economic policymaking and research.

However, cracking this exam is not easy. It requires a deep understanding of economics, strong analytical skills, and a well-planned study approach. Many candidates struggle because they don’t know how to prepare effectively.

1. Understand the Exam Pattern and Syllabus

Before you start preparing for the RBI DEPR exam, it is important to know its structure and syllabus. The exam has three phases:

• Phase 1 (Objective Test) – This includes multiple-choice questions on Economics, Statistics, and Finance.
• Phase 2 (Descriptive Test) – You have to write detailed answers on economic concepts, policies, and data analysis.
• Interview Round – Candidates who clear Phase 2 are called for an interview to test their knowledge and communication skills.

The syllabus mainly covers:

• Microeconomics & Macroeconomics – Concepts like demand-supply, national income, inflation, and monetary policies.
• Statistics & Econometrics – Topics such as probability, regression analysis, and time series.
• Indian Economy & Current Affairs – RBI policies, economic surveys, and budget updates.

2. Build a Strong Foundation in Economics

A strong understanding of economics is the key to cracking the RBI DEPR exam. Since the exam focuses on both theoretical and applied economics, you need to master the basics before moving on to advanced topics. click here for more information about RBI DEPR.

How to Strengthen Your Economics Knowledge:

• Start with Core Concepts – Focus on microeconomics (demand-supply, market structures) and macroeconomics (GDP, inflation, monetary policies).
• Refer to Standard Books – Read books like Blanchard’s Macroeconomics, Dornbusch & Fischer, and Mankiw’s Principles of Economics to understand concepts clearly.
• Understand RBI’s Role in the Economy – Study monetary policy, inflation control, and financial stability from RBI reports and Economic Survey.
• Practice Problem-Solving – Apply concepts to real-world economic issues and analyze case studies.

3. Master Quantitative Techniques and Statistics

The RBI DEPR exam  includes many questions on statistics and quantitative techniques. These topics are important because they help in economic analysis and policymaking.

How to Prepare for Statistics and Quantitative Techniques:

• Understand Key Concepts – Focus on probability, regression analysis, correlation, hypothesis testing, and time series analysis.
• Use Practical Examples – Try solving real-world economic problems using statistical methods.
• Learn Data Interpretation – Practice reading and analyzing economic data from RBI reports and surveys.
• Use Software Tools (Optional) – Learning basic Excel, R, or Stata can help with statistical analysis.
• Solve Numerical Problems Regularly – Practice previous years’ questions and mock tests to improve speed and accuracy.

4. Stay Updated with Current Economic Affairs

The RBI DEPR exam tests your knowledge of the latest economic developments, policies, and financial trends. Keeping up with current affairs helps you write better answers in the descriptive paper and perform well in the interview.

How to Stay Updated:

• Read Newspapers Daily – Follow The Hindu, Business Standard, and Economic Times for economic news.
• Study RBI Reports – Go through RBI’s Monetary Policy Report, Financial Stability Report, and Annual Reports to understand India’s economic situation.
• Follow Government Publications – Read the Economic Survey, Union Budget, and NITI Aayog reports for key policy insights.
• Watch Economic Discussions – Follow discussions on platforms like Rajya Sabha TV, YouTube channels on economics, and expert interviews.
• Make Notes – Summarize important economic events and link them with theoretical concepts for better retention.

5. Develop Answer Writing Skills for Phase 2

Phase 2 of the RBI DEPR exam requires you to write detailed answers on economics-related topics. Writing clear, well-structured answers is key to scoring high marks.

How to Improve Answer Writing Skills:

• Follow a Structured Format – Start with an introduction, explain key points in the body, and end with a conclusion.
• Use Data and Examples – Support your answers with RBI reports, Economic Survey, and real-world examples to make them more impactful.
• Practice Essay Writing – Regularly write essays on economic topics like inflation, monetary policy, fiscal deficit, etc.

6. Solve Mock Tests and Previous Year Papers

Practicing mock tests and previous year papers is one of the best ways to prepare for the RBI DEPR exam. It helps you understand the exam pattern, improve time management, and identify weak areas.

Why Mock Tests Are Important:

• Familiarizes You with the Exam Pattern – You get a clear idea of the types of questions asked.
• Improves Time Management – Solving papers under timed conditions helps you complete the exam on time.
• Identifies Strengths and Weaknesses – You can focus more on topics where you need improvement.
• Boosts Confidence – Regular practice reduces exam stress and increases accuracy.

How to Use Mock Tests Effectively:

• Solve at Least One Mock Test Weekly – Increase frequency as the exam approaches.
• Analyze Your Mistakes – Review incorrect answers and understand the concepts behind them.
• Attempt Previous Year Papers – This helps in understanding frequently asked questions.
• Simulate Real Exam Conditions – Take mock tests in a quiet environment without distractions.

Conclusion

Cracking the RBI DEPR exam requires a smart and disciplined approach. By understanding the exam pattern, building a strong foundation in economics, mastering quantitative techniques, staying updated with current affairs, and improving answer writing skills, you can boost your chances of success.