A good score in the RBI Grade B Phase 2 exam requires maximum marks in the Finance section. And this demands investment of proper time in this part of the exam. Many students wait till the last few weeks to prepare for Finance. That’s not the right attitude. If you want to score high in Paper 3, you must start now. Don’t waste time, as the Finance syllabus is vast and includes both static and current affairs-based topics. You cannot cover it all in a few days. Only a few serious candidates clear this paper confidently. And those who do well in Finance don’t leave it for the end. They plan ahead. They prepare early. They revise and practice regularly. If you’re aiming to score well in Finance, you need to act fast. In this blog, we’ll discuss how you can complete the Finance portion in just 45 days, what topics to cover, and how to stay ahead of your competitors.
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Most candidates delay their Finance preparation. They think they’ll start once they finish ESI or Management. But by then, it’s already too late to understand the concepts, revise them, and practice descriptive answers properly. Some are scared of economics.
Of course, this part is a bit easier for the candidates who come from an economics background, compared to those who come from other backgrounds. But for serious candidates, a smart strategy packed with planned preparation does the magic, regardless of their background.
If you’re serious about clearing the Phase 2 exam, you must start Finance preparation now. And here’s why you need to start right away:
In Paper 3, candidates face both objective and descriptive questions. The objective part has 30 Questions of 50 Marks, and the Descriptive part has 4 out of 6 Questions of 50 Marks. You need to understand and dig deep into topics like Monetary Policy, Basel Norms, Financial Markets, and Risk Management. To achieve this aim, you have to divide your time in such a way that, along with preparation of each topic, you also need to revise and practice MCQs and descriptive answers.
Just reading theory won’t help. Practice improves memory, speed, and writing skills. The more questions and answers you attempt, the better you get at solving them under exam conditions. This is very true for numerical concepts like the Time value of money (how money changes value over time) and comparing numbers (Ratio Analysis).
Paper 3 has 50 marks worth of descriptive questions, and many students ignore this till the end. You need to learn how to structure your answers using RBI terminology, examples, and clarity. Start now so that you can practice descriptive writing regularly.
Most aspirants will wait until they finish other subjects. But you don’t have to. If you start now, you can complete the basics and start mocks before others even begin. This gives you time for at least two full revisions and multiple mock attempts.
RBI now asks questions of an analytical and application nature. Earlier, they used to be simple factual ones, based on facts. For example, you cannot answer questions on topics like NPAs, Basel III, and Risk Management. They require a solid understanding of concepts, not cramming. In short, if you start your preparation early, you can master such topics and write high-quality answers.
A low score in Finance can decrease your final marks even if you perform well in ESI and English. You need to give equal weight to Finance. This demands a balanced and strong overall score. Finance is scoring if you prepare it well. So, don’t leave it to the last.
You can’t cover every topic in Finance in just a week. Especially if you’re not from an economics background. You need a smart plan and follow it regularly to meet your short-term as well as long-term goals. Cover all the topics, as each topic matters in this part of the exam. Revise whatever you study on weekends, and keep practicing diffrent types of questions.
Here’s a daily breakdown of how you can do it:
| Day | Topics to Cover | Hours per Day | Target Area |
| Day 1–3 | Basics of Finance, Financial System, Role of RBI | 3 hrs | Understand basic structure and terms |
| Day 4–6 | Monetary Policy Tools – Repo, CRR, SLR, MSF | 3 hrs | Concepts + recent changes from RBI |
| Day 7–9 | Basel Norms (I, II, III), Capital Adequacy, CAR | 3.5 hrs | Deep dive with examples |
| Day 10–12 | Indian Financial Institutions – SEBI, NABARD, SIDBI | 3 hrs | Regulatory bodies & their functions |
| Day 13–15 | Financial Markets – Money Market, Capital Market | 3 hrs | Instruments like T-bills, Bonds, Equities |
| Day 16–17 | Bank Balance Sheet, Income Statement, NPAs | 3.5 hrs | Link with descriptive practice |
| Day 18–20 | Ratio Analysis + Time Value of Money | 3 hrs | Solve numericals and practice questions |
| Day 21–23 | Risk Management, Types of Risks | 3 hrs | Credit, Market, Operational Risk |
| Day 24–25 | Corporate Governance, CSR, Ethics | 3 hrs | Start Descriptive writing |
| Day 26–27 | Financial Inclusion & Priority Sector Lending | 3 hrs | Link with Government Schemes |
| Day 28–29 | Recent RBI Circulars & Budget Highlights | 3 hrs | Focus on current affairs-based questions |
| Day 30 | Objective + Descriptive Full-Length Mock Test | 3.5 hrs | Attempt and analyse mistakes |
| Day 31–33 | Current Affairs -Last 6 months – Finance Focused) | 3 hrs | PIB, RBI Bulletin, Economic Survey |
| Day 34–36 | Descriptive Writing Practice | 3 hrs | 2 answers per day from Finance topics |
| Day 37–38 | Mixed Revision -Monetary Policy + Basel + Markets | 3 hrs | Make summary notes |
| Day 39–41 | FM Full Mock Test (Objective + Descriptive) | 3.5 hrs | Write, review, improve |
| Day 42–44 | Practice 50 MCQs + 1 Descriptive Daily | 3 hrs | Revisit weak areas |
| Day 45 | Final Revision – Quick Notes + Flashcards | 3 hrs | Last-minute brush-up |
NOTE:
Let’s understand how you should follow the study schedule above. For example, in Days 26 to 27 of the plan, the topic is “Financial Inclusion & Priority Sector Lending”. Financial inclusion means helping everyone get basic banking and money services, while Priority Sector Lending means giving loans to important groups like farmers, small businesses, or poor people. And the related Target Area says “Link with Government Schemes.”
Financial Inclusion & Priority Sector Lending = Related Government Schemes
It means, when you study Financial Inclusion and Priority Sector Lending (PSL), you should try to connect these concepts to particular government schemes and initiatives that are designed to promote them.
Most students study Financial Inclusion and Priority Sector Lending (PSL) from a theory perspective. That’s a mistake. You can’t just define terms and move on. In the exam, especially in descriptive questions, RBI wants practical understanding. You must know how the government has supported these areas through real schemes. Without that, your answers will remain incomplete.
Financial Inclusion is not just about opening bank accounts. It’s about access to financial services. And the government has launched several schemes to ensure this happens:
These are the schemes that drive inclusion. And these are the schemes you must write about.
Banks don’t meet PSL targets on their own. They rely on government support. So while you study PSL sectors like Agriculture and MSMEs, also remember the schemes:
Mentioning these in your answers shows clarity. It shows you know how policy works on the ground.
Don’t try to mug up every scheme. Just pick 2–3 major ones per topic. Know their launch year, purpose, and impact. That’s enough. And revise regularly.
Sample Question:
Question: How has the Government promoted financial inclusion?
Answer: Through schemes like PMJDY, which gave every household access to a bank account. AEPS and DBT made transactions and subsidy transfers faster and more transparent. UPI increased digital payments across the country. Mudra loans helped small borrowers who had no collateral. These steps together have pushed inclusion in the right direction.
This is what you need to write in the exam. Your answer should be clean, factual, and linked to action. Don’t just read. Understand and connect. That’s how you can maximize your score.
You need to keep studying and revising, and practicing, if you want to get the best results. This 45-day plan we’ve discussed above will give you a rock-solid foundation. But should not stop there.
You need to:
By the time the exam date comes, you’ll not only be prepared, but you’ll be confident to face all types of questions related to Finance.
Most students ignore Finance or postpone it till the end. They lose precious time. But smart students start early. They follow a fixed plan, finish the syllabus in time, and keep revising. If you can smartly follow a 45-day plan, you can cover most of the syllabus. In this duration, you can also train your brain to write better descriptive answers and be ahead of others. The preparation for the Finance part is not as tough as many candidates think. All you need is a clear plan, regular revision, and practice to master it. So, you should start today. Don’t wait for the pressure to build. Be the one who finishes Finance before others even begin.
If you want to start your RBI Grade B preparation smartly and master ESI and FM, the best way to do it is through the latest RBI Grade B online courses developed by PracticeMock. Click on the link below and start preparing like a champion.
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A: You can prepare it well in 45 days with a smart study plan.
A: No, with early preparation and regular practice, anyone can do well.
A: Yes, both carry equal weight, so prepare for both from the start.
A: Start now. Don’t wait till other subjects are done.
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