NPS Grade B Syllabus 2025: Phase 1, 2 & Interview

What is the NPS Grade B syllabus, and how can you prepare for the exam? If these questions are on your mind, we’ve got you covered!

The NPS Grade B exam is a golden opportunity for anyone aiming to build a career in the financial and pension sector. Managed by PFRDA, NPS plays a crucial role in securing the future of millions.

In this article, we’ll break down the syllabus, explain the NPS Grade B exam pattern, and help you through the different phases, including the interview. Let’s look into the exam pattern first.

NPS Grade B 2025 Exam Pattern

Before starting your preparation, it’s important to understand the NPS Grade B exam pattern for the General Stream. The exam has three phases:

1. Phase 1: Online Exam (One Paper)
   • 90 minutes to answer 120 MCQs covering subjects like General Awareness, English, Reasoning, Commerce, Finance, and more.
   • Sections include English (25 marks), Reasoning (25 marks), General Awareness (20 marks), and more.
   • Negative marking applies, so guess wisely.

2. Phase 2: Online Exam (Two Papers)
   • Paper 1: Descriptive Test in English and General Studies (100 marks).
   • Paper 2: MCQs on specialized subjects like Finance, Economics, and Management (100 marks).

3. Phase 3: Interview
   • Final selection is based on 50% Phase II marks and 50% interview performance.

Download the NPS Grade A exam official notification in PDF format directly from the official website of the NPS Trust.

For more detailed information on the pattern, make sure to check out our article on the NPS Grade A Exam Pattern.

NPS Grade B Syllabus 2025

The exam consists of multiple phases, each testing candidates’ knowledge across various subjects. Below, we’ve outlined the syllabus for both Phase 1, Phase 2, and Interview so you can prepare effectively.

NPS Grade B 2025: Phase 1 Syllabus

Phase 1 of the NPS Grade B exam includes multiple-choice questions on a variety of subjects. It covers:

• General Awareness (with Financial Sector-related topics)
• English Language
• Quantitative Aptitude
• Reasoning & Analytical Skills
• Commerce, Accountancy, Management
• Finance, Data Analytics, Statistics
• Companies Act, Indian Trusts Act, Economics
• Pension Sector

NPS Grade B Phase 1 Syllabus: English Language

This section tests your comprehension, grammar, and vocabulary. You’ll need to answer questions based on reading passages, sentence formation, and error spotting. Here is the decoded English syllabus for NPS Grade B.

• Grammar
• Error Spotting
• Sentence Improvement
• Comprehension Ability 
• Comprehension passage
• Cloze test
• Rearrangement
• Para jumbles
• Double Fillers
• Vocabulary – Synonyms, Antonyms, One-word Substitution, Phrasal Verbs

NPS Grade B Phase 1 Syllabus: Reasoning & Analytical Skills

This section includes logical reasoning, puzzles, and data interpretation. You’ll be tested on your ability to identify patterns, solve problems, and think critically. Here is the decoded NPS Grade B Reasoning and Analytical syllabus:

• Alphanumeric Series
• Coding and Decoding
• Syllogism
• Direction Sense
• Inequality
• Ranking and Order
• Blood Relation
• Puzzles
• Seating Arrangement
• Input-Output
• Critical Reasoning 
• Questions Based on Data Sufficiency

NPS Grade B Phase 1 Syllabus: Quantitative Aptitude

This section includes basic mathematics, such as percentage, ratio, time, speed, and simple/compound interest. It focuses on your numerical and problem-solving skills. Here is the decoded NPS Grade B Quant syllabus:

• Ratio and Proportion
• Percentage
• Profit and Loss
• Simple and Compound Interest
• Average and Ages
• Time and Work
• Pipes and Cistern
• Time and Distance
• Mixture and Alligation
• Series and Quadratic Equation
• Mathematical Inequalities
• Number Series
• Data Interpretation
• Simplification/Approximation
• Quantity Comparisons
• Data Sufficiency 
• Partnership 

NPS Grade B Phase 1 Syllabus: General Awareness

Expect questions related to current affairs, financial awareness, and general knowledge. Topics may include national and international events, economic policies, and recent developments in the pension sector.

• National News: MoUs, summits, and major events related to India.
• International: Summits and conferences held abroad.
• Financial & Economics News
• Financial Awareness: SEBI and SEBI notification and regulations
• Defence: Military exercises, drills, and major updates related to the defence sector of India
• Days in News: Major events or days, along with its date and theme
• Persons in News: Obituaries, appointments, and retirements
• Sports: Major tournaments and its winners
• Science, Technology, and Space
• Awards and Honours
• Environment
• Banking and Economy Related News
• Reports and Government Schemes
• Books and Authors
• Chief Ministers and Cabinet Ministers
• National Parks and Sanctuaries
• Airport Locations, Stadiums
• Organisations’ Headquarters
• Banks’ Headquarters and Taglines
• Power Plants in India
• Indian Dance Forms
• Countries Capitals and their Currencies
• Important Days

NPS Grade B Phase 1 Syllabus: Commerce & Accountancy

This section focuses on basic accounting principles, financial statements, and various commerce-related topics. You’ll need to understand the fundamentals of financial accounting and business laws.

• Accounting as a financial information system
• Accounting Standards with specific reference to:
  • Accounting for Depreciation
  • Inventories
  • Revenue Recognition
  • Fixed Assets
  • Foreign Exchange Transactions
  • Investments
• Cash Flow Statement, Fund Flow Statement, Financial Statement Analysis, and Ratio Analysis
• Accounting for Share Capital Transactions, including:
  • Bonus Shares
  • Right Shares
• Employees Stock Option and Buy-Back of Securities
• Preparation and Presentation of Company Final Accounts

NPS Grade B Phase 1 Syllabus: Management

This includes topics on management theories, organizational behavior, business ethics, and human resources management.

• Nature and Scope of Management
• Management Processes: Planning, Organization, Staffing, Directing, and Controlling
• The Role of a Manager in an Organization, Leadership: The Tasks of a Leader
• Leadership Styles, Leadership Theories, Successful vs. Effective Leader
• Human Resource Development (HRD): Concepts, Goals of HRD
• Motivation, Morale, and Incentives:
  • Theories of Motivation, 
  • How Managers Motivate, 
  • Concept of Morale, 
  • Factors Determining Morale, 
  • Role of Incentives in Building up Morale
• Communication:
  • Steps in the Communication Process
  • Communication Channels
  • Oral vs. Written Communication
  • Verbal vs. Non-verbal Communication
  • Upward, Downward, and Lateral Communication
  • Barriers to Communication
  • Role of Information Technology

NPS Grade B Phase 1 Syllabus: Finance

Questions will cover finance basics, financial markets, and investment principles. You’ll be tested on understanding financial instruments, stock markets, and corporate finance.

• Financial System: Role and Functions of Regulatory bodies in the Financial Sector
• Financial Markets: Primary and Secondary Markets (Forex, Money, Bond, Equity), functions, instruments, recent developments.  
• General Topics:
  • Basics of Derivatives (Forward, Futures, and Swap)
  • Recent Developments in the Financial Sector
  • Financial Inclusion and use of technology
  • Direct and Indirect taxes; Non-tax sources of Revenue, GST, Finance Commission, Fiscal Policy, Fiscal Responsibility and Budget Management Act (FRBM)
  • Inflation: Definition, trends, estimates, consequences, and remedies (control): WPI, CPI – components and trends.

NPS Grade B Phase 1 Syllabus: Data Analytics, Statistics

You’ll encounter questions on statistical analysis, data interpretation, and understanding of data sets. This section assesses your ability to analyze and interpret data.

• Measures of Central tendency & dispersions, Correlation, Sampling methods, Sampling Distribution, Statistical Inferences, Hypothesis testing, Regression Analysis. 
• Data Analytics:
  • Overview
  • Importance of Data Analytics
  • Types of Data Analytics
  • Descriptive Analytics
  • Diagnostic Analytics
  • Predictive Analytics
  • Prescriptive Analytics
  • Benefits of Data Analytics
  • Data Visualization for Decision Making
  • Data Types
  • Measure of central tendency
  • Measures of Dispersion
  • Graphical Techniques
  • Skewness & Kurtosis
  • Box Plot
  • Descriptive Stats
  • Sampling Funnel
  • Sampling Variation
  • Central Limit Theorem
  • Confidence interval

NPS Grade B Phase 1 Syllabus: Companies Act, Indian Trusts Act

Expect questions on corporate governance, the Companies Act, and laws related to business and trusts in India.

• The Companies Act, 2013: Specific reference to Chapter III, Chapter IV, Chapter VIII, Chapter X, Chapter XI,  Chapter XII    and Chapter XXVII. 
• The Indian Trusts Act.

NPS Grade B Phase 1 Syllabus: Economics

This section will test your understanding of economic principles, including microeconomics, macroeconomics, and economic policy.

• Demand and Supply, Market Structures, National Income:
  • Concepts and Measurement
  • Classical & Keynesian Approach Determination of output and employment
  • Consumption Function
  • Investment Function
  • Multiplier and Accelerator
  • Demand and Supply for Money
  • IS – LM
  • Inflation and Phillips Curve
  • Business Cycles
• Balance of Payments, Foreign Exchange Markets, Inflation, Monetary and Fiscal Policy, Non- banking Financial Institutions. 

NPS Grade B Phase 1 Syllabus: Pension Sector of India and World

You’ll be tested on the fundamentals of pension schemes, pension policies, and regulations both in India and globally. Understanding pension systems is crucial in this section.

• Status of Pension Sector in India
• Different types of retirement schemes in India and their features
• National Pension System
• Atal Pension Yojana
• Annuity Plans
• Basics of investment decision making and portfolio management

NPS Grade B 2025: Phase 2 Syllabus

Phase 2 consists of two papers, each worth 100 marks. Here’s a breakdown:

• Paper 1: English & General Studies (Descriptive Test)
  Duration: 60 minutes
  Marks: 100
• Paper 2: Multiple Choice Questions on subjects like Commerce, Accountancy, Management, Finance, Data Analytics, etc.
  Duration: 40 minutes
  Marks: 100

NPS Grade B Phase 2 Paper 1 Syllabus: English (Descriptive Test)

In this section, you’ll be required to write essays or short answers. The aim is to assess your writing skills, clarity of thought, and ability to express ideas effectively.

1. Essay

You have to choose one out of the 4-5 topics and write an essay in around 200 words. Listed below are some of the essays asked in the previous years.

• Importance of Teamwork in an Organization.
• Pros and Cons of Mergers and Acquisitions of Companies
• Role of Technology in Detecting and Preventing Financial Frauds
• Fake News and How to Identify Them

2. Precis Writing

You have to summarize a passage spanning 400 to 600 words in approximately 170 to 180 words. Usually, precis comes from LiveMint, The Hindu, The Economic Times, Forbes magazine, etc. 

3. Reading Comprehension

You need to answer 5 questions based on the given passage of around 400 to 600 words. Usually, the passage of reading comprehension comes from LiveMint, The Hindu, The Economic Times, Forbes magazine, etc.

NPS Grade B Phase 2 Paper 1 Syllabus: General Studies (Descriptive Test)

This will include questions on general studies, covering topics like history, geography, polity, economics, and current affairs. You’ll be expected to write detailed, well-organized answers.

• Economic and Social Development
• Indian Economy (including recent trends, fiscal and monetary policy, banking, and infrastructure development)
• Data and Digital Economy (including cyber security and digital literacy)
• Technology Innovations (AI, space technology, and biotechnology)
• Sustainable Development Goals (SDGs) and Global Initiatives
• Emerging Global Challenges (energy security, water scarcity, urbanization)
• General Issues on Environment (biodiversity and climate change)
• Ethical Issues in governance and public administration
• International Relations (India’s foreign policy, bilateral and multilateral relations)
• Social Justice (welfare schemes, inclusive development, rights movements)

NPS Grade B Phase 2 Paper 2 Syllabus

The syllabus for Phase 2 Paper 2 is similar to Phase 1 in terms of subject coverage. It consists of multiple-choice questions on subjects like Commerce, Accountancy, Management, Finance, Data Analytics, Statistics, Companies Act, Indian Trusts Act, Economics, and Pension Sector. 

This section tests your depth of knowledge in these areas. The structure of this paper is the same as Phase 1, with a focus on assessing your understanding of key concepts and topics relevant to the General Stream.

NPS Grade B 2025: Interview Syllabus

For the NPS Grade B interview, the panel will assess your overall suitability for the role by asking questions related to your educational background, work experience (if applicable), hobbies, and awareness of current events. They may also inquire about your understanding of the financial and pension sectors, as well as your personal strengths and weaknesses.

Important Tip: Be sure to thoroughly prepare your bio-data and stay up-to-date with current affairs, especially those related to the financial sector and pensions.

Conclusion

The NPS Grade B exam offers a comprehensive syllabus covering various subjects, from Phase 1’s multiple-choice questions to the Phase 2 descriptive tests. With careful preparation across these areas, you can effectively tackle each stage and increase your chances of success. Focus on key topics, manage your time well, and stay determined to secure your position in the financial and pension sectors. 

Best of luck with your preparation!