Interview Preparation for IBPS PO 2018: Insights and Strategies for Economics Grads
If you are an Economics graduate applying for the IBPS PO (Probationary Officer) position in 2018, proper preparation is crucial to ace the interview. This guide offers essential tips and strategies, tailored for candidates with an M.A. or in Economics, to help you stand out in the interview process.
Introduction to the Interview
The interview process begins with the timeless “Tell me about yourself” question. This can set the tone for the entire conversation, so it's important to prepare a compelling response. For example, you might mention your academic achievements and professional aspirations, interwoven with personal anecdotes that showcase your distinct personality. As someone with an Economics background, you might highlight your adventurous side, mentioning activities such as river rafting and paragliding to add an interesting dimension to your profile.
Expected Questions and Areas to Focus On
Given your M.A. in Economics, the interviewers will likely probe deeper into your knowledge base. Here are some of the key areas you should prepare for:
GDP and Economic Indicators
They may ask questions about the current GDP of the country, how GDP is calculated, and the significance of GDP in economic planning. Understanding the GDP and its components is crucial. It is the total market value of all final goods and services produced within a country in a given period.
Monetary and Fiscal Policy
You should be familiar with monetary and fiscal policy, their differences, and their role in the Indian economy. Monetary policy involves the central bank's decisions to control inflation and achieve growth, while fiscal policy involves the government's decisions on taxation and spending.
Economic Survey and Budget
Reading about the Economic Survey and recent budget proposals will be beneficial. These documents provide a comprehensive overview of the country's economic health and policy directions.
Banking Schemes and Current Affairs
Interviewers may ask about various schemes introduced by the government to support the banking sector, such as the Digital India initiative or Jan Dhan Yojana. Additionally, stays updated on current affairs related to the banking industry, such as Non-Performing Assets (NPA), issues between the Reserve Bank of India (RBI) and the Central Government, and recent mergers.
Financial Governance and RBI
Understanding the functions and roles of governing bodies like SIDBI, NABARD, and the RBI is essential. Be prepared to discuss how these bodies contribute to the overall economy and financial stability. For instance, discuss the RBI's role in managing liquidity, interest rates, and financial regulations.
Reducing Non-Performing Assets (NPA)
Knowledge about the SARFAESI Act and its impact in reducing NPAs is necessary. This act gives banks the right to recover debts from borrowers without court intervention, making it an important tool in the fight against NPAs.
Indian Economy in Banking
Analyze how the economy of India can be improved in the banking sector, considering factors like increased digitalization, improving financial literacy, and deeper integration into the global financial system.
Basics of Banking Industry
Having a strong grasp of basic banking concepts is crucial. For example, understand the differences between Demand Drafts (DD) and cheques, and the various types of cheques. Also, be familiar with the central bank's monetary tools, such as Repo Rate, Cash Reserve Ratio (CRR), and Reverse Repo Rate.
India's International Relations
Lastly, have knowledge of India's relations with other countries and international organizations. This can include trade agreements, foreign direct investments, and overall economic diplomacy.
Conclusion
By focusing on these areas, you can better prepare for the IBPS PO interview and increase your chances of success. Remember, practice makes perfect, so conduct mock interviews and continuously refine your responses. Good luck!