IE & IFS syllabus has around 45 chapters. Therefore, it’s essential to strategically prepare for the IE & IFS paper to clear JAIIB quickly. This article is here to help.
We have created a practical preparation strategy for the JAIIB IE & IFS paper that walks you through important topics & modules, books and resources, and a detailed timetable. You can follow this strategy and enhance your chances of cracking the IE & IFS paper in one go.
JAIIB IE & IFS Preparation Strategy
Before getting started with the IE & IFS preparation strategy, please note that the IE & IFS paper was introduced in the JAIIB exam in 2023. To check the IE & IFS exam syllabus in detail, read this article: JAIIB Latest Syllabus.
1. Identifying the Important Topics for JAIIB IE & IFS
The first step of your IE & IFS preparation strategy is identifying high-weightage topics. To identify these, we have analyzed the PYQs of IE & IFS. Based on our analysis, here are the most important topics.
| IE & IFS Most Important Topics Module A | |
| Chapters | Important Topics |
| Sectors of the Indian Economy | Sectors of Indian Economy |
| Role of Priority Sector and MSME in the Indian Economy | PSL Norms and MSME Classification |
| Role of Priority Sector and MSME in the Indian Economy | Initiatives related to MSMEs |
| Infrastructure including Social Infrastructure | Types of Infrastructure and related Government initiatives |
| Globalisation – Impact on India | Globalisation and De-Globalisation |
| Economic Reforms | Reforms in India in 1991 & Narasimham Committee recommendations |
| Foreign Trade Policy, Foreign Investments and Economic Development | Foreign Direct Investment (FDI) vs. Foreign Institutional Investment (FII) |
| Foreign Trade Policy, Foreign Investments and Economic Development | Economic growth vs. Economic Development |
| International Economic Organizations (World Bank, IMF, etc.) | International Economic Organisations – World Bank, IMF & WTO |
| Climate change, Sustainable Development Goals (SDGs) | Sustainable Development Goals (SDGs) |
| Climate change, Sustainable Development Goals (SDGs) | Corporate Social Responsibility (CSR) |
| IE & IFS Most Important Topics Module B | |
| Chapters | Important Topics |
| Fundamentals of Economics, Microeconomics, and Macroeconomics and Types of Economies | Definitions of Economics |
| Supply and Demand | Law of Demand |
| Money Supply and Inflation | Measures of Money Supply |
| Money Supply and Inflation | Money Multiplier and Velocity of Money |
| Money Supply and Inflation | Inflation and indices to measure inflation |
| Theories of Interest | Liquidity Preference Theory of Interest |
| Business Cycles | Phases of Business Cycles |
| Monetary Policy and Fiscal Policy | Role of RBI |
| System of National Accounts and GDP Concepts | Different measures of GDP |
| Union Budget | Deficits in the Budget |
| IE & IFS Most Important Topics Module C | |
| Chapters | Important Topics |
| Indian Financial System – An Overview | Phases of Development in the Indian Financial System |
| Indian Financial System – An Overview | Bank Nationalisation |
| Indian Banking Structure | Different types of banks and Fintech & TechFin |
| Banking Laws-Reserve Bank of India Act, 1934 & Banking Regulation Act, 1949 | Initial Sections of Reserve Bank of India Act, 1934 and Banking Regulation Act, 1949 |
| Development Financial Institutions | Features of Development Financial Institutions |
| Development Financial Institutions | National Bank for Financing Infrastructure and Development (NaBFID) |
| Development Financial Institutions | Export-Import Bank of India (EXIM Bank) and its initiatives |
| Development Financial Institutions | SIDBI Direct Loan Facilities |
| Non-Banking Financial Companies (NBFCs) | Scale-Based Regulation (SBR) of NBFCs |
| Indian Financial System Regulators and Their Roles | Role of RBI & Role and Composition of SEBI, IRDAI and PFRDA |
| Reforms & Developments in the Banking Sector | National Asset Reconstruction Company (NARCL) |
| Micro Finance Institutions | Types of Micro-Finance Institutions (MFIs) |
| Non-Banking Financial Companies (NBFCs) | Types of Non-Banking Financial Company (NBFC)s |
| Insurance Companies | Insurance Penetration and insurance Density |
| IE & IFS Most Important Topics Module D | |
| Chapters | Important Topics |
| Financial Markets | Price Discovery in Financial Markets |
| Money Markets | Call money, Notice money and Term money, Treasury Bill, Certificate of Deposit (CD), Commercial Paper, Tri-party Repo and Bill Rediscounting Scheme (BRDS) |
| Capital Markets and Stock Exchanges | Red Herring Prospectus (RHP) |
| Fixed Income Markets-Debt and Bond Markets | Government Securities in India |
| Fixed Income Markets-Debt and Bond Markets | RBI Retail Direct Scheme (RDS) |
| Foreign Exchange Markets | Forex markets |
| Foreign Exchange Markets | Alternative Reference Rate (ARR) |
| Foreign Exchange Markets | Foreign Exchange Dealers’ Association of India (FEDAI) |
| Foreign Exchange Markets | FX Retail Platform |
| Foreign Exchange Markets | U.S. Dollar Index (USDX) |
| Interconnectedness of Markets and Market Dynamics | Interconnectedness |
| Merchant Banking Services | Merchant Banking |
| Derivatives Market | Definition and types of Derivatives |
| Factoring. Forfaiting and Trade Receivables Discounting System (TReDS) | Bill Discounting vs. Factoring |
| Factoring. Forfaiting and Trade Receivables Discounting System (TReDS) | Trade Receivables Discounting System (TReDS) |
| Venture Capital | Venture Capital |
| Lease Finance and Hire Purchase | Types of Leasing |
| Lease Finance and Hire Purchase | Hire Purchase |
| Credit Rating and Credit Scoring | CIBIL Score and Credit Rating Symbols |
| Credit Rating and Credit Scoring | Credit Information Companies (CICs) |
| Mutual Funds | Mutual Funds and Types |
| Insurance Products | Government Initiatives related to Insurance |
| Insurance Products | Insurance Ombudsman |
| Pension Products | Employees’ Provident Fund Organisation (EPFO) |
| Pension Products | Government Initiatives related to Pension – Public Provident Fund (PPF), National Pension Scheme (NPS) and Atal Pension Yojana (APY) |
| Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) | Real Estate Investment Trust (REITs) – Types & Regulations |
| Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) | Types of Infrastructure Investment Trust (InvIT) |
- Important Topics
- Expected Questions
- Previous Year Papers
2. Identifying Important Modules of IE & IFS for JAIIB
The next step would be to determine which modules you should prioritize. Based on the analysis of IE & IFS PYQs, here is what you should do:
- Module D is the most important module of the IE & IFS paper as maximum questions are asked from it. Therefore, it’s only logical to start your preparation with this module and devote as much time as possible.
- Do note that Module D may seem tough at first, as you need to memorize lots of things. However, with revision, you’ll find this module interesting and easy to cover.
- After Module D, start with the Modules A and B. These modules are related to each other, making it beneficial to read them together. Moreover, module B is the second-highest scoring module, after module D.
- Module A requires basic knowledge of economics, which most candidates have. Therefore, completing module A would be comparatively easier. Once you’re done, you can get started with module B.
- Once you’re done with modules D, A, and B, you can start with module C. This module has the least weightage and is quite time-consuming in nature, which is why it’s last on the priority list.
The next step would be to identify the top resources for your IE & IFS preparation.
3. Important Books for IE & IFS Preparation
Here are the best books and resources to prepare for IE & IFS paper:
| Best Books and Sources for IE & IFS Preparation | |||
| Books | Author | Publisher | Buy Here |
| NCERT Economy Books for Class XI & XII | NCERT | NCERT | Buy Online |
| Indian Economy & Indian Financial System | IIBF | Macmillan | Buy Online |
Note:
- IIBF’s book for Indian Economy & Indian Financial System has all the material necessary to help you prepare for all 4 modules.
- Some candidates might find it hard to understand the concepts of module B. If you do, you can refer to the Introductory Macroeconomics book for Class 12 to understand module B better.
Other Recommended Sources
Below are the other recommended sources that can help you further enhance your preparation.
1. IIBF e-Learning Portal
IIBF offers an e-learning portal where you can access digital study material, online courses, and mock tests to prepare for the IE & IFS paper. This is an excellent resource to enhance your understanding of the exam topics.
2. Online Learning Platforms
There are multiple online learning platforms that offer IE & IFS courses. These platforms offer a wide range of study materials, interactive lessons, practice quizzes, mock tests, and guidance from experienced educators.
3.YouTube Videos
EduTap JAIIB YouTube channel provides free insightful tutorials and explanations on important IE & IFS topics, allowing you to understand complex IE & IFS topics through quality video lectures.
After getting familiar with the important books and resources, let’s understand the timetable for the JAIIB IE & IFS preparation.
- Important Topics
- Expected Questions
- Previous Year Papers
4. Study Plan & Time Table for IE & IFS Preparation
The next step would be to make an easy-to-follow timetable to make your preparation convenient and more effective.
| Indian Economy and Indian Financial System (IE IFS) Study Plan | ||
| Module | Time | Instructions |
| Module A: Indian Economic Architecture | 7 Hours | This is the easiest module Factual learning is important |
| Module B: Economic Concepts Related To Banking | 5 Hours | Learn the basic concepts and definitions Conceptual learning is important |
| Module C: Indian Financial Architecture | 6 Hours | Questions asked are deep Go through the facts and revise them multiple times |
| Module D: Financial Products And Services | 12 Hours | This is the most important Module Questions asked from the chapters are deep |
| Total | 30 Hours | |
Here is a detailed video explaining the preparation strategy for IE & IFS:
5. Tips for JAIIB IE & IFS Preparation
The last step would be to keep the following tips to keep in mind when preparing for the JAIIB IE & IFS exam:
- Take short breaks (5-10 minutes) between study sessions.
- Invest more time in preparation on weekends.
- To make your preparation easier, you can sign up for crash courses.
- Previous year MCQs are often repeated. Therefore, referring to PYQs can help you score better.
- Attempt as many mock tests as you can. This will help you identify any potential issues and attempt the final exam with confidence.
Note: If you’re looking for a comprehensive solution that increases your chances of clearing the JAIIB IE & IFS exam, you can opt for EdutTap’s: JAIIB IE & IFS Master Course.
It comes with recorded and live sessions, concepts, notes, solved PYQs, and multiple mock tests. In addition, you can connect with our mentors if you need answers to your queries.
- Important Topics
- Expected Questions
- Previous Year Papers
Conclusion
This preparation strategy can help you prepare important topics, chapters, and modules of the JAIIB IE & IFS paper. However, make sure you follow the timetable and invest a few hours daily to complete the syllabus timely.
