Employment is a burning topic in India and not without a reason. With the world’s largest population right now and a median age of 29 years, India is young and its citizens need to be given meaningful employment. The progress in school and college education has meant that more graduates are joining the job market each year. They are aspirational and are hungry for good jobs. The competition for the ever shrinking government jobs is thus in full force.
In this article, we’ll shed light on the government regulatory bodies in India and the lifetime career opportunity they provide in terms of jobs for freshers. You’ll also get to know the intense competition for these posts and the need for serious preparation.
A brief look at India’s unemployment
The unemployment picture in India can be looked at through the PLFS (Periodic Labour Force Survey) data. The 2021-22 PLFS figures reveal that the overall unemployment rate is 4.1%. The data presented by the private organisation, Centre for Monitoring Indian Economy (CMIE) presents a different picture. According to CMIE, 7.95% of India’s youth are unemployed. The unemployment rates are more pronounced in the urban regions as more and more graduates enter the workforce each year.
Top jobs in regulatory bodies
These regulatory bodies offer extraordinary career growth to job aspirants in India.
- RBI (Reserve Bank of India)
- SEBI (Securities and Exchange Board of India),
- NABARD (National Bank for Agriculture and Rural Development)
When it comes to government jobs in India, these are some of the most preferred institutions. Let’s take a look at these jobs and understand how to cement your career in this field.
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RBI Grade B
The exam for selecting RBI Grade B officers is held in three phases. The exam is conducted for recruitment to 3 different posts of RBI grade B officers – General, DEPR (Department of Economic and Policy Research), and DSIM (Department of Statistics and Information Management). The eligibility criteria are different for these posts. Candidates between the ages of 21 and 30 can apply for the exam. For M.Phil. and Ph.D. holders, the upper age criteria are 32 and 34 years respectively.
The exam is conducted in 3 phases:
- Phase-I: Preliminary exam
- Phase-II: Mains
- Phase-II: Interview
Candidates’ knowledge of general awareness, problem-solving skills, and English grammar and comprehension is tested in the first stage. In the Mains exam, a mix of objective and descriptive questions are framed to test the candidates’ knowledge of economics and social issues, English writing skills, and Finance and management.
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SEBI Grade A
The SEBI Grade A position is a highly sought-after one; it offers a unique opportunity to work in a challenging and rewarding environment. SEBI Grade A officers enjoy a competitive salary and benefits package, as well as the opportunity to work with some of the brightest minds in the capital market. SEBI Grade A is the entry-level position for officers at SEBI, the apex regulatory body for the securities market in India. The position is filled through a competitive selection process that consists of three phases: prelims, mains, and interviews. The upper age limit to appear for the SEBI Grade A exam is 30 years.
The first stage of the exam tests the candidates’ knowledge of general awareness (with a specific focus on the financial sector), quantitative aptitude, reasoning, and English.
The second stage of the exam, i.e. the mains exam consists of two papers.
Paper-I: Descriptive English test
Paper-II: Objective Paper on specialised subjects (Commerce, Accountancy, Costing, Finance, Management, Companies Act, and Economics)
SEBI Grade A officers are responsible for a wide range of tasks, including:
- Formulating and implementing regulations for the securities market
- Protecting the interests of investors
- Overseeing the activities of market participants
- Conducting investigations and inspections
- Educating and empowering investors
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NABARD Grade A
NABARD Grade A is the entry-level position for officers at NABARD, a statutory body established by the Government of India to provide credit and other financial services to the agriculture and rural sector.
NABARD Grade A officers play a vital role in NABARD’s mission to promote rural prosperity. They are responsible for a wide range of tasks, including:
- Designing and implementing financial schemes for the agriculture and rural sector
- Monitoring and evaluating the performance of NABARD’s funded projects
- Providing financial and technical assistance to rural financial institutions
- Promoting financial literacy and inclusion in rural areas
- Conducting research on rural development issues
The eligibility criteria are similar to the other two regulatory bodies mentioned above. The NABARD Grade A exam, like that of RBI and SEBI, consists of three stages.
- Phase-I: Prelims (200 Marks)
The prelims exam consists of objective questions on a wide variety of subjects – English, Quantitative Aptitude, Reasoning, General Awareness, Computer Knowledge, Economic and Social Issues, and Agriculture and Rural Development
- Phase-II: Mains (200 Marks)
The main exam consists of two papers.
Paper-I: Descriptive English writing
Paper-II: Economic and Social Issues; Agriculture and Rural Development (both objective and descriptive)
- Phase-III: Interview (50 Marks)
This is more of a personality test to check the suitability of the candidate for the role.
Conclusion
Regulatory bodies in India like the RBI, SEBI, and PFRDA offer some of the most prestigious jobs for freshers in India. You get to be a part of the policymaking process and serve the country. The opportunities for growth in these jobs are immense and guarantee you a successful career ahead. If you’re looking to be a part of the financial administration in the country, it is the perfect fit for you.