Government Schemes Preparation RBI Grade B: Strategy & Sources

Government schemes are one of the most dominating components in the GA and ESI sections of the RBI Grade B exam.

If you have ever wondered how to get a grip on the seemingly endless list of government schemes for RBI Grade B, you are not alone.

In this blog post, we’ll explore how to prepare for this topic, highlight the most important government schemes for RBI Grade B, and share some practical tips. We will also cover key ministries to focus on and share the best resources for your RBI Grade B preparation.

How to Prepare Government Schemes for RBI Grade B?

Each scheme could initially feel like a mountain of data: who launched it, when, what’s the objective, the beneficiaries, the financial outlay—it may all be overwhelming for you.

However, the strategy for preparing government schemes is no different than preparing for any other aspects of the RBI Grade B syllabus. Here’s how you can begin:

1. Start with the basics 

• First things first: do not jump and start memorizing every government scheme.
  
• Begin by acquainting yourself with the structure and the purpose of the schemes. Why do these schemes exist? Who do they cater to? What problems are they solving?
  
• By focusing on these aspects, you will create the context that will make it easier to remember the specifics later on.

2. Organize schemes by sector

• To make learning efficient, organize the schemes into sectors like agriculture, education, health, women’s empowerment, etc.
  
• Additionally, when you come across questions in mock tests or exams, it becomes effortless to make connections and quickly arrive at the answer. 

For example, schemes related to agriculture have a general outlook toward farmer welfare, subsidies, and productivity boosts. 

3. Focus only on schemes featured in recent news 

• You must only give preference to fresh initiatives that came into existence or underwent restructuring in the last 9-12 months of the exam.
  
• Creating a timeline of important schemes will help you immensely in revision. Incorporate details such as the launch date and any recent updates.

 4. Summarize and simplify

• Summarizing key points will help you retain the important facts as you progress in your government scheme preparation.
  
• Organizing the scheme in bullet points expedites the revision process. A small one-pager per scheme can turn out to be a game changer.

5. Key information to know about each scheme 

Let’s outline the essential details to be noted for each government scheme for RBI Grade B you read about:

• Scheme’s implementation tenure: Refers to the year it launched until the completion.
  
• Ministry/Department in Charge: Which ministry or department is the scheme under?
  
• Objective: What does the scheme mainly seek to achieve? That may include financial access, poverty alleviation, skill enhancement, and more.
  
• Beneficiaries: Segments of society, including farmers, women, unemployed youth, or others that are targeted.
  
• Key Features: Specific elements of the scheme, such as the sections of people covered, financial outlays, or models adopted, are important considerations.
  
• Achievements and Impact: If available, any notable success stories or measurable impacts made by the scheme should be documented.
  
• Recent Updates: Have there been any recent restructures, expansions, or modifications to the scheme?

6. Examples of questions asked

The questions that come in the exam, especially in ESI, start with a long paragraph where they may give you vague details or present you with a scenario. 

For eg. they give you a paragraph about some mission focused on the environment and behavioral changes. The questions that will follow will be like:

Q.1 Which one of the following initiatives has been mentioned in the above paragraph?

A.  Swachh Bharat Mission

B.   Namami Gange Programme

C.   Green Skill Development Programme

D.  Sulabh International Social Movement

E.   Mission LiFE (Lifestyle for Environment)

Q.2) Which of the following is not included in the 7-categories of the initiative mentioned above?

A.  Save water

B.   Save energy

C.   Reduce waste

D.  Plant trees

E.   Healthy lifestyle

Q.3) The above-mentioned initiative was announced by the Prime Minister at which of the following events?

A.  COP26

B.   G20- Environment and Climate Ministers’ Meet

C.   Rio Summit

D.  Paris Environment Conclave

E.   G7 Ministers’ Meeting on ClimateIn ESI, 3-4 questions generally come in one set related to a single scheme (2 marks for each question, mostly). So, if you identify the scheme from the question and you have covered it, you will end up fetching 6-8 marks from a single set.

Important Government Schemes for RBI Grade B

One of the first questions anyone preparing for this exam asks themselves is, “Which schemes should I focus on?” 

The government launches hundreds of initiatives every year; it is certainly not humanly possible to recall them all. So how do you narrow it down? 

Apart from all the schemes that have been in the news in the past 9-12 months of the exam, other important scheme types that you should focus on are:

1. Financial inclusion schemes
   

• Study all bank-related schemes (like Jan Dhan) as your top priority.
• Look at how these schemes work with direct benefit transfers.
• Understand their latest performance numbers.
• Focus on recent changes in implementation.
  

2. Credit schemes
   

• Understand the various loan options available for both businesses and individuals.
• Understand who can get these loans and on what terms.
• Look at the current success rates and challenges.
• Pay attention to any new features added in recent times.
  

3. Digital payment schemes
   

• Study all UPI-related developments.
• Know about recent digital banking initiatives.
• Focus on how these schemes help advance the nation.
• Understand their impact on regular banking.
  

4. Economic impact schemes

Look for schemes that have a wider economic impact or provide some kind of financial assistance.

• Financial inclusion schemes
• Credit guarantee schemes
• Agricultural support schemes
• MSME support schemes
• Digital payment initiatives
• Social security schemes with economic impact
• Green energy schemes
• Startup support schemes
• Export promotion schemes
• Skill development initiatives

Important Ministries for RBI Grade B Government Schemes Preparation

Knowing which ministries oversee particular schemes can help you better organize your preparation. 

Here are some important ministries you should focus your efforts on:

• Ministry of Finance
• Agriculture & Farmers’ Welfare Ministry
• Ministry of Health & Family Welfare
• Ministry of Rural Development
• Ministry of Women & Child Development
• Ministry of Housing and Urban Affairs
• Ministry of Skill Development and Entrepreneurship
• Schemes launched by RBI

You must put the above ministries on high priority. Once you are done with these, you should then cover the below ministries as well:

• Ministry of Jal Shakti
• Ministry of Micro, Medium, and Small Enterprises
• Ministry of Tribal Affairs
• NITI Ayog

Preparation Plan of Government Schemes for RBI Grade B

Daily approach

• Read the PIB releases for 15 minutes and pay attention to any news that highlights schemes.
• Note any changes in schemes.
• Connect them to current economic news.
• Review any three major schemes in detail every day.

Weekly review

• Summarize all the new changes you learned.
• Review previous years’ questions.
• Link schemes to current affairs.
• Revise older schemes that are being featured in the recent news.

Smart tips for preparation

For new schemes

• Focus on the objective first.
• Then understand basic structure.
• Know the current status.
• Look for unique features. 

For existing schemes

• Track major changes regularly.
• Know current performance
• Understand the significance to the economy
• Keep revising key statistics.

What to avoid

Don’t waste time on

• Very old, discontinued schemes.
• Schemes related to railways or coal, for example, have no economic impact.
• Minor implementation details
• Exact dates and years

Best Sources To Prepare Government Schemes for RBI Grade B

To get the authentic and latest news about government schemes, refer to the following sources as part of your current affairs strategy:

1. Press Information Bureau

The Press Information Bureau (PIB) regularly provides updates on the policies and schemes implemented by the government. 

It is one of the best sources of authentic news. Visit the PIB website (https://pib.gov.in/).

2. Ministry Websites 

Surf through different ministries’ official websites to find authentic and updated information on the schemes. 

These websites provide firsthand authentic knowledge of any scheme, along with recent updates.

3. Economic Survey and Annual Budget: 

The Economic Survey and Union Budget are two documents that provide a detailed explanation of all the necessary initiatives. 

These may be schemes, and the overall budget allocated by the government. Initiatives and schemes featured in these documents are sure to appear in the exam.

4. PDF compilation/Magazines by Platforms: 

Most platforms like ours have dedicated PDFs for government schemes based on different ministries. Our subject experts design these concise compilations. 

As a result, they save you a significant amount of time and effort during last-minute revisions and guarantee the inclusion of all relevant schemes for the exam.

5. YouTube videos 

If you want to prepare the digital way, EduTap also has YouTube playlists dedicated to government schemes. 

The government scheme videos in these playlists are updated regularly as new schemes are launched /updated or featured in the news.

Conclusion

The key takeaway? The volume of government schemes should not overwhelm you. Break it down, create a structure that works for you, and focus on the most relevant and current schemes. 

Categorize the schemes into sectors and emphasize recent initiatives while also analyzing the strong connection among them.

With persistence and the right approach, you’ll find that government schemes can be your ticket to scoring well in general awareness and ESI. Best of luck, and remember, we have got your back, always!